* Dollar index trades above last week's 3-year low* Treasuries auction seen as test of investor appetite* Short-covering seen supporting dollar* Graphic: World FX rates in 2018 By Jemima KellyLONDON, Feb 20 (Reuters) - The dollar continued its rebound from three-year lows on Tuesday, on the view that the currency was due a modest correction after a sharp decline in recent weeks, and as traders eye...Read More
Shares in NovaGold Resources (TSX: NG) got a boost Tuesday morning after the miner said that 2017 drilling results for its flagship Donlin project in Alaska, which is being developed in a 50-50 partnership with Barrick Gold (TSX, NYSE:ABX), unveiled higher gold grades than predicted by previous modeling.After completing a total of 16 core holes, the Canadian miner said it Intercepted distinct sig...Read More
Mr. Michael Allen reportsNORTHERN EMPIRE INTERSECTS 7.92 METERS OF 6.07 G/T GOLD AT NEW HIGH-GRADE, NEAR-SURFACE ZONE AT THE STERLING MINE IN NEVADA; EXPANDS PROPERTY TO 141 SQUARE KILOMETERSNorthern Empire Resources Corp. has released drill results from the company's 100-per-cent-owned Sterling mine located in Nye county, Nevada. STERLING DRILL RESULTSHole IDFrom (m)To (m) Interval (m)Au (g/t)*ST...Read More
AngloGold Ashanti Ltd. will reopen its idled Obuasi mine after Ghana approved a plan to redevelop the asset as a more profitable, mechanized operation.Obuasi, which for years battled incursions by illegal miners, is expected to start gold production by the third quarter of 2019, AngloGold said in a statement Tuesday. The initial cost of the project will be $450 million to $500 million over the fir...Read More
By Takahiko WadaTOKYO, Feb 20 (Reuters) - Sixteen Japanese cryptocurrency exchanges will fix plans as early as next week to create a self-regulating body in a bid to better safeguard investors after a $530 million digital money heist last month, two source familiar with the plan said.A plan to merge two separate industry bodies, the Japan Cryptocurrency Business Association and Japan Blockchain As...Read More
* Obuasi had been invaded by army of illegal miners* Study has concluded mine can be brought back from the dead* Operation will now be modern and mechanised* Company posts lower earnings (Recasts with Ghana mechanisation plan)By Ed StoddardJOHANNESBURG, Feb 20 (Reuters) - AngloGold Ashanti will spend up to $500 million to mechanise its Obuasi mine in Ghana, capping a dramatic saga for an asset ren...Read More
* Dollar index trades above last week's 3-year low* Correlation between dollar and U.S. Treasury yields reemerging* Short-covering seen supporting dollar* Graphic: World FX rates in 2018 By Jemima KellyLONDON, Feb 20 (Reuters) - The dollar continued its rebound from three-year lows on Tuesday, having recovered 1.5 percent since Friday on the view that the U.S. currency was due a correction after a...Read More
By Teresa CespedesLIMA, Feb 20 (Reuters) - Peru will accept bids and award a contract to develop the estimated $2 billion Michiquillay copper mine on Tuesday in the first major auction from the world's No. 2 copper producer in at least a decade.The auction was delayed twice last year, in part due to political turmoil in Peru. The bids will be a gauge of investor confidence in President Pedro Pablo...Read More
* Share price falls as results miss forecasts, costs rise* CEO says will meet activist investor Elliott Advisors (Adds bullets, share price)By Melanie BurtonMELBOURNE Feb 20 (Reuters) - Global miner BHPreported a 25 percent rise in underlying half-year profit on Tuesday, and handed an extra $800 million to shareholders, but it fell short of analyst forecasts and rising costs also dragged down the...Read More
S&P 500 Index contracts decline; oil holds gains above $62U.S. markets were closed Monday for Presidents' Day holidaySean Callow, senior currency strategist at Westpac, discusses Bank of Japan monetary policy and the yen.Asian stocks took their cue from a decline in U.S. futures to open lower and the yen consolidated after its biggest drop in two weeks. The dollar steadied and oil climbed in...Read More
Banks must give exporters access to funds within 14 daysCentral bank sets up investment desk for diaspora investmentZimbabwe's tobacco market. Photographer: Desmond Kwande/AFP/Getty ImagesZimbabwe’s central bank said it plans to sell bonds for citizens outside the country to invest in gold and tobacco output as it also introduces banking rules to encourage money flows and exports.The R...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comFeb 20, 2018I’ve noted that when China’s markets go quiet during the “Golden Week”holiday, the gold price tends to soften.Pleaseclick here now. Double-click to enlarge this key gold chart. Price softness is expected during this holiday, and the good news is that it...Read More
CloseGain/LossGold $1330.70-$18.00Silver$16.47-$0.21XAU80.83-2.89%HUI178.98-3.23%GDM614.69-2.70%JSE Gold1152.60-41.04USD89.71+0.56Euro123.37-0.75Yen93.37-0.63Oil$61.79+$0.2410-Year2.881%+0.010T-Bond143.9375-0.0625Dow24964.75-1.01%Nasdaq7234.31-0.07%S&P2716.26-0.58% The Metals: Gold waffled near unchanged in holiday thinned trade yesterday before it fell $13.20 to as low as $1335.50 at abou...Read More
By Ira EpsteinMetals give up Friday's gains and more.http://iraepstein.com/ Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
London Analyst Alasdair MacLeod also tells Silver Doctors China's trade, not America's, is now driving the global economy. He explains the impact this is having on the U.S. dollar.As the U.S. dollar declines, gold and silver will rise, MacLeod says.He says optimism about the economy is a sign the last phase of the credit cycle has arrived. Will the coming crisis be worse that 2008? He believes thi...Read More
Source: Jack Chan for Streetwise Reports 02/20/2018 Technical analyst Jack Chan charts the latest movements in the gold and silver markets. -->Our proprietary cycle indicator is down.The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.The gold sector is on a short-term sell signal. Short-term...Read More
Unemployment at all time lows, consumer confidence at all time highs, what could possibly go wrong, go wrong, go wrong? Well according to Charles Nenner, a lot. These are actually contrary indicators that show the economy is close to a peak. If he's right, and there's every reason to believe he is, then there's rough sledding ahead. We may be getting close to a recession. He sees the dollar headin...Read More
By Jeff ClarkWe buy gold for many reasons as monetary insurance, a crisis hedge, and even for simple diversification. And another one of those reasons is coming to the fore right now: as a hedge against overvalued stock and crypto markets.We've been saying for some time that sooner or later these two markets had to correct and that gold would serve as a buffer against those inevitabilities. It's...Read More