Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
(Kitco News) - Gold prices are trading steady to slightly lower in early U.S. trading Wednesday. Theyellow metal is pausing after Tuesday's shellacking and ahead of thisafternoon's release of the latest minutes from the Federal Open MarketCommittee meeting. April Comex gold futures were last down $1.40 an ounce at$1,329.80. March Comex silver was last down $0.058 at $16.38 an ounce.Thehighlight of...Read More
Stock market volatility had been extremely low for several years, but it has spiked over the past few weeks. The Cboe Volatility Index (VIX), which measures the implied volatility of S&P 500 Index (SPX) options, sits around 20. The last time the VIX averaged 20 for an entire year was 2011. Additionally, the S&P 500 has moved up or down at least 2% the last four weeks in a row. The last time we've...Read More
Tuesday was an ugly day for gold,as the metal started lower and never came back. Gold has lost $33 from itsrecent high and is getting closer to our first target of $1,300. Equitiesdidn’t want to let gold suffer alone as they also got clobbered. Both marketsare a mess now and are in danger of taking out recent lows.Manipulation of currencies by theFed and central banks around the globe is cau...Read More
(Kitco News) - Pan American Silver Corp. (Nasdaq, TSX: PAAS), one of the world’s largest primary silver producers, lateTuesday announced a higher dividend and larger net profit in the fourth quarteras the company unwound an impairment charge.Net earnings were $49.7 million, or 32 centsper share, more than double the $22.3 million, or 14 cents,in the fourth quarter of 2016. The...Read More
• Strong follow-through USD buying continues to weigh. • Overnight fall in US equities fails to lend any support. • FOMC minutes to provide fresh directional impetus. Gold traded with a mild negative bias through the early European session and is currently placed at one-week lows, around the $1326-25 region. The US Dollar...Read More
China Hanking Holdings Ltd launched a takeover bid for Australia's Primary Gold Ltd on Wednesday in line with a plan to build a long-term Australian gold business, valuing the target firm at A$37.5 million ($29.6 million).China Hanking, which owns 8.4 percent of Primary Gold, will offer A$0.0575 a share for the miner through its unit Hanking Australia Investment Ltd, it said in a filing to th...Read More
Mr. Vishal Gupta reportsCALIFORNIA GOLD ANNOUNCES CONTINUED POSITIVE ASSAYS FROM RESOURCE DRILLING AT QUEEN SPECIMEN ZONE - INTERSECTS 28.4 M OF 1.22 G/T AU, INCLUDING 6.3 M OF 2.66 G/T AU AT ITS FREMONT GOLD PROJECTCalifornia Gold Mining Inc. has released the second set of assay results from the recently commenced resource drilling program at the Queen Specimen zone at its flagship Fremont projec...Read More
Mr. David Wolfin reportsAVINO ANNOUNCES AN UPDATED MINERAL RESOURCE ESTIMATE AT THE AVINO PROPERTYAvino Silver & Gold Mines Ltd. has completed an updated mineral resource estimate for the company's Avino property located near Durango in west-central Mexico. The updated estimate encompasses the property's San Gonzalo mine, the Avino mine vein systems and the property's oxide tailings. The miner...Read More
* Euro down, PMIs weaker than expected* Dollar up almost 2 pct since Friday's lows* Traders eye Fed minutes, Treasury auctions* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 21 (Reuters) - The euro edged lower on Wednesday as the dollar built on its recovery from last week's three-year lows, with higher Treasury yields supporting the greenback ahead of minutes of the Federal Reserve's...Read More
Mr. Anthony Makuch reportsKIRKLAND LAKE GOLD REPORTS STRONG FULL-YEAR AND Q4 2017 EARNINGS AND CASH FLOWKirkland Lake Gold Ltd. has released its financial and operating results for the full year and fourth quarter of 2017. The company's full financial statements and management discussion and analysis are available on SEDAR and on the company's website. All dollar amounts in this news release are e...Read More
Tech giant Apple Inc (NASDAQ: AAPL) is said to be in talks to buy long-term supplies of cobalt directly from miners as a way to ensure sufficient supply of the metal, an essential ingredient in the batteries that power its iPhone.Citing anonymous sources, Bloomberg reports that the company is trying to secure contracts for several thousand tonnes of cobalt for five years or longer.Electronics and...Read More
The mining industry is awash with cash, and so far it's got two main uses - pay down debt and reward investors.Three of the big four London-listed miners have released earnings this month, and it's clear the companies are doing what shareholders have demanded of them. Glencore Plc, which traditionally favored stuffing its war chest over rewarding shareholders, surprised the market with a $2.9 bill...Read More
Miner and commodities trader Glencore (LON:GLEN) said Wednesday it would pay shareholders $2.9bn in dividends after achieving what it called its "strongest results on record", which attributed mainly to a sharp recovery on commodity markets and a strong performance from its marketing unit.The 2017 results leave Ivan Glasenberg, the head of the Swiss company, well positioned to continue doing wh...Read More
Mr. Anthony Makuch reports KIRKLAND LAKE GOLD REPORTS STRONG GROWTH IN MINERAL RESERVES AND MINERAL RESOURCESKirkland Lake Gold Ltd. has provided updated mineral reserve and mineral resource estimates as at Dec. 31, 2017. Comparisons to previous Mineral Reserves and Mineral Resources are to estimates as at December 31, 2016, with the exception of the Fosterville mine, where comparisons are also ma...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Before Tuesday, the Dow Jones Industrial Average and S&P 500 had finished higher for six straight trading sessions.The Dow last week jumped 4.25%, the S&P 500 gained 4.30% and the Nasdaq climbed 5.31%.Walmart fell 10% on Tuesday after the company reported disappointing fourth-quarter earnings results. Wall Street Overview Stocks ...Read More
Wall Street futures slumped lower in early Tuesday trading as investors brace for nearly $260 billion in new debt auctions that could push bond yields higher and reignite a new round of volatility in global markets. Contracts tied to the Dow Jones Industrial Average fell more than 214 points from their Friday close , indicating a 185 point decline for the benchmark at the opening bell...Read More
Political dysfunction in the United States is at an all-time high.Republicans and Democrats are fighting pitched battles on immigration, Obamacare, tax cuts, regulation, infrastructure and just about every other major policy issue you can name. These fights are bitter, involve a lot of name-calling and show no signs of abating soon.The stakes could not be higher. These policy fights are a prelude...Read More
Our hold on reality dangles by a fraying thread… and the psychologist's couch awaits.The stock market is to blame.Consider…The recent correction was (at least in part) triggered by rising long-term interest rates.Yields on the 10-year Treasury nicked 2.88% on Feb. 5 - a whisker from the 3% red line many feared could send stocks on a merry fall.That is the point at which debt begins to...Read More
Buying the dip is suddenly back in fashion again just one week after stocks ripped off their lows.We're not surprised. After all, traders have tossed around the term "buy the dip" so much during this bull market that it has taken on a life of its own. The short saying has morphed into a cheesy market meme all the pundits trot out whenever stocks drop.Not sure what to do as the major averages get v...Read More