Canadian explorer Argo Gold (CSE: ARQ) said Thursday that is selling its South Wawa gold property to RT Minerals Corp. (TSX-V:RTM) for consideration of 350,000 common shares of the Vancouver-based junior miner.The property consists of two mineral claims totalling 16 units or 256 hectares located roughly 10 km south of the town of Wawa, in Ontario.When Argo acquired South Wawa, the asset had not b...Read More
The Indonesian unit of Freeport-McMoRan Inc and fellow copper miner Amman Mineral Nusa Tenggara (AMNT) are waiting for last-minute mining ministry approvals to their applications to extend copper concentrate exports, company officials said.Freeport's export permit for Grasberg, the world's second-biggest copper mine, is due to expire on Friday, as is Amman's permit to ship ore concentrate from its...Read More
Gold prices were on fire Wednesday, rebounding from losses made in the wake of stronger than expected U.S. inflation data. Kitco News caught up with Maxwell Gold of ETF Securities. "What sparked gold's price move today is the increase in inflation. I think that is boosting inflation expectations, and I think that's giving some consideration into what the Fed is going to do this year," Gold told K...Read More
Pickup in inflation isn't seen as sign of rapid accelerationJob market, tax cuts likely to support consumer spendingU.S. Consumer Prices Rise More Than Expected in JanuaryFaster-than-projected U.S. inflation and an unexpected decline in retail sales at the start of the year may cause some indigestion on Wall Street, but probably don’t mean much pain for the economy.The core consumer pr...Read More
Core gauge advances 0.3% from prior month, above projectionsApparel index rises 1.7%, most in almost three decadesNathan Sheets of PGIM, Michael Ashton of Enduring Investments and Bloomberg's Mike McKee look at inflation.U.S. consumer prices rose by more than projected in January as apparel costs jumped the most in nearly three decades. The report sent Treasuries and stocks tumbling, as it added t...Read More
Stake in SPDR Gold rises to 3.91 million shares, filing showsHedge fund boosts stake in Newmont, cuts position in BarrickDalio's Bridgewater Boosts Holdings in GoldBillionaire hedge fund manager Ray Dalio boosted his holdings in the two largest gold-backed ETFs last quarter before prices of the metal capped the biggest annual gain in seven years.As of the end of December, Dalio’s Bridg...Read More
Renewed safe-haven demand on the back of a weaker U.S. dollar has helped boost gold's technical momentum and some analysts see the potential for higher prices in the near-term. According to some analysts, gold's newfound momentum has helped the gold market break bearish technical as the price action was forming a short-term head and shoulders pattern. Officially the pattern isn't broken until pr...Read More
Home Prices Hit Records in Almost Two-Thirds of U.S. CitiesBy Prashant Gopal@mrgopalMore stories by Prashant GopalRead More
Here Are 5 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average, S&P 500 and Nasdaq posted their fourth straight day of gains.The Dow has added more than 1,000 points from Friday to Wednesday.Big gainers on Wednesday included Chipotle Mexican Grill, Fossil Group and Nektar Therapeutics.The Consumer Price Index rose 0.5% in January, the strongest monthly increa...Read More
Remember the days (about six months ago) when bitcoin was going to revolutionize banking and disintermediate the mean nasty "banksters?"Well, a funny thing happened on the way to the revolution. Bitcoin itself has hit an air pocket with a 50% price drop since December. Meanwhile, the banks that were supposed to be so dramatically disrupted by bitcoin are taking over the blockchain.This is not surp...Read More
With everything that's been happening with the stock market lately, people have forgotten about last year's biggest investment story:Bitcoin.After briefly topping off around $20,000 in December, today it's trading around $9,000.A lot of bad news has come to the bitcoin ecosphere. China, for example, recently ordered its banks to stop providing financial services for any cryptocurrency-related tran...Read More
Imagine...A pack of robot dogs, each the size of a Doberman, roaming through cities and towns, communicating wirelessly, navigating any obstacles in their path. Even opening closed doors with ease.Scary right?But this isn’t an idea for a new Hollywood blockbuster.Its real life. Taking place right now in the U.S., at Boston Dynamic's laboratories.Engineer's aptly named the 4-legged robot Spot...Read More
Stocks continue to stabilize following last week's gut-wrenching drop.But there's a much more serious threat coming to light. This threat is more pressing than terrorism or natural disasters, according to the CIA, FBI, and NSA. And it's quietly reigniting a forgotten market trend.The Senate Intelligence Committee declared cybersecurity its most pressing concern at yesterday's annual worldwide thre...Read More
I still remember that guilty feeling in the pit of my stomach... the day I knowingly broke the law.It was my first year working at a hedge fund and I was still just learning the ropes.With a tight schedule (and a limited family budget - none of my bonuses had kicked in yet), I was driving my beat-up Honda Civic to a lunch meeting.Accelerating onto Georgia Highway 400, I suddenly remembered I was o...Read More
Stake in SPDR Gold rises to 3.91 million shares, filing showsHedge fund boosts stake in Newmont, cuts position in BarrickDalio's Bridgewater Boosts Holdings in GoldBillionaire hedge fund manager Ray Dalio boosted his holdings in the two largest gold-backed ETFs last quarter before prices of the metal capped the biggest annual gain in seven years.As of the end of December, Dalio’s Bridg...Read More
Bullion advances for a third day, dollar sags before U.S. dataDalio's Bridgewater added bullion assets in final qtr of 2017AMP's Oliver Sees 4 to 5 Fed Rate Hikes in 2018Gold held gains as the dollar slipped, with investors counting down the hours before key U.S. inflation data that may offer fresh clues on monetary tightening. Adding luster for the metal, filings showed billionaire hedge fund man...Read More
Endeavour Silver plans to increase production and cut costs this year.In my opinion, it can be difficult to meet 2018 production guidance.I believe that the company's shares are fairly valued now; as such, they are simple options on silver/gold prices and nothing more.However, in the long term the company's value depends on the Terronera project.On January 25, 2018, Endeavour Silver (EXK),...Read More
CloseGain/LossGold $1353.40+$1.30Silver$16.88+$0.01XAU85.48-0.02%HUI189.36-0.02%GDM645.96+4.90%JSE Gold1197.05+23.79USD88.58-0.37Euro125.02+0.44Yen94.27+0.78Oil$61.34+$0.7410-Year2.902%-0.009T-Bond143.90625+0.53125Dow25200.37+1.23%Nasdaq7256.43+1.58%S&P2731.20+1.21% The Metals: Gold gained $4.90 to $1357.00 in late Asian trade before it drifted back to $1348.60 in London and then bounced b...Read More
By Avi Gilburt"Stocks are going down because the economy is too good?"How many times did you hear something like that quote over the last two weeks on television? And, it was accompanied by the barrage of reports proclaiming the demise of the bull market which began in 2009. But, if you are a thinking person, clearly you had to have been scratching your head.Oh, and let's not forget about how ri...Read More
Gold has rallied back close to trendline resistance. Will it push through this time? That will depend on if Gold can breakout in real terms (against stocks, currencies) as its strength over the past year as been driven by only US$ weakness. Read More