Stock futures are cratering this morning, dragged lower by a bigger-than-anticipated rise in inflation data. The consumer price index (CPI) rose by 0.5% in January amid "broad-based" price increases -- marking the largest gain in five months, and exceeding consensus estimates for a 0.3% uptick. Dow Jones Industrial Average (DJI) futures are trading over 300 points below fair value, while S&P 50...Read More
• Improving risk appetite now seemed to cap gains. • US CPI/monthly retails sales to provide fresh impetus. Gold trimmed some of its early gains to 6-day tops but has still managed to hold with minor gains for the third consecutive session. Spot prices touched an intraday high near the $1337 region and the up-move was being supported by some follow-th...Read More
Canada's IAMGOLD Corp. (TSX IMG), (NYSE: IAG) has kicked off a feasibility study for its C??t?(C) Gold Project, located in the Abitibi gold belt in Ontario, and said a construction decision should be made in the first half of 2019.Last year, the Toronto-based miner sold a 30% interest in the proposed open pit mine to Japan's Sumitomo Metal Mining, the Asian nation's No. 1 gold producer, but it re...Read More
(Kitco News) - Goldprices are moderately lower in the wake of a U.S. consumer price index reportthat was hotter than market expectations. The CPI report also pressured theU.S. stock market and U.S. Treasury yields rose. The U.S. dollar index rallied onthe news. April Comex gold futures were last down $4.50 an ounce at $1,325.90.March Comex silver was last down $0.123 at $16.405 an ounce.Thebig U.S...Read More
(Kitco News)- Goldprices have lost some of their lusteras inflation picked up more thanexpected in the first month of the new year.Wednesday,the U.S. Labor Department said its U.S. Consumer Price Index rose 0.5% inJanuary, after increasing 0.3% in December. The increase was stronger thanexpected as consensus forecasts were calling for a 0.2% increase.The report said that annual inflation rose 2.1%...Read More
The Consumer Price Index is ameasure that examines the weighted average of prices of a basket of consumergoods and services, such as transportation, food and medical care. It iscalculated by taking price changes for each item in the predetermined basket ofgoods and averaging them. Changes in the CPI are used to assess price changesassociated with the cost of living; the CPI is one of the most freq...Read More
Mr. Mark Kolebaba reportsADAMERA DRILLING CONFIRMS SULFIDE MINERALIZATION AT SE-01 - FOLLOW UP DRILLING UNDERWAYAdamera Minerals Corp.'s first hole on the SE-01 VTEM target at its Cooke Mountain project in Washington State is mineralized with sulphides and magnetite.The drill hole intersected a thick zone with both semi-massive and disseminated sulphides over a 120-metre core length.Mineralization...Read More
Monday is Presidents Day, which for U.S. investors means a short four-day trading week. Today, I'll look at how stocks have historically performed after this holiday, and during shortened trading weeks in general. Finally, I'll highlight individual stocks that have performed especially well or terribly during the week of Presidents Day.Stocks During Presidents Day Week Presidents Day officially be...Read More
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
The platinum market is set for another surplus this year after recording oversupply of 110,000 ounces in 2017, Johnson Matthey said in a report on Wednesday, although its sister metal palladium is tipped to see another deficit.Platinum demand fell nearly 7 percent last year, with sharp falls seen in Japanese investment and Chinese jewellery buying as well as a slowdown in consumption by carmakers,...Read More
Mr. B. Matthew Hornor reportsMAPLE GOLD UPDATES DOUAY RESOURCE ESTIMATE, INCREASING CONTAINED OUNCES AND CONVERTING MORE THAN 450,000 OUNCES INTO INDICATED RESOURCES Maple Gold Mines Ltd. has provided an updated mineral resource estimate for the company's Douay gold project, as prepared by Micon International Ltd. The updated estimate includes additional drilling and assays from work completed dur...Read More
Gold 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 manager Ray Dalio increased holdings last quarter.Bullion for immediate delivery rose as much as 0.6 percent to $1,337.02 an ounce, the highest since Feb. 6, and was at $1,3...Read More
Shares in Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) were down almost 4.9% in New York premarket after reporting weaker than expected earnings for the three months to December and a 10% drop in revenue.The Vancouver, British Columbia-based company logged a profit of Cdn$700 million or Cdn$1.21 per share for the forth quarter of the year, compared to Cdn$9...Read More
Sen. Coons on Small Business, Trump's Budget Proposal, DACAOptimism among small companies in the U.S. rose more than forecast in January, fueled by a record number of owners who said now was a good time to expand, according to a National Federation of Independent Business survey released Tuesday.Highlights of Small-Business Optimism (January)Overall index rose by 2 points to 106.9 (est....Read More
Jack ChanPosted Feb 13, 2018GLD – on sell signal.***SLV – on sell signal.***GDX – on sell signal.***XGD.TO – on sell signal.***CEF – on sell signal.***GDXJ – on sell signal.***Speculation is in bull market values.Data is supportive for overall higher prices.This is a massive bottoming pattern four years in the making.SummaryLong term – on major buy signal....Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks posted their first three-day winning streak of 2018 as the Dow jumped 0.16% on Tuesday, the S&P 500 rose 0.26% and the Nasdaq popped 0.45%.Stocks gained about 3% Friday and Monday.Major gainers on Tuesday included GNC Holdings, up 17%, Under Armour, up 16% and AmerisourceBergen, which gained 9%. Wall Street Overview Stocks finished...Read More
Markets have experienced a lot of volatility in February and investor anxiousness has grown along with it. Bank of America Merrill Lynch's (BAC) monthly fund manager survey showed a record month-to-month jump to 50% from 30% in the net percentage of investors who took out protection against a sharp fall in equity markets over the next three months. The survey also found that "allo...Read More
European markets and Wall Street futures were under pressure Tuesday, Feb. 13, despite a firmer session in Asia. Wall Street futures were down Tuesday as the dollar saw modest losses against most major currencies. The implied open for Dow Jones Industrial Average was 127 points to the downside at 7:39 am Eastern time while S&P 500 mini futures had lost 0.44% and the Nasdaq al...Read More
It's been a wild run lately. Watching U.S. stocks plunge at one point over 10% in the past 10 days has certainly been a sobering experience for investors.After a nearly nine-year bull market, stocks have just experienced their fourth 10% correction. But as I've been reminding people, it wasn't the end of the world. U.S. stocks suffered 10% corrections in August 2015 and January 2016 and bounced ba...Read More
We have it on highest authority:Rising budget deficits are "a very dangerous idea."The president's budget director, Mick Mulvaney, conceded the point this Sunday on Face the Nation.But like a junkie long resigned to the needle and the alley, he could only lower his eyes... and shrug his shoulders:"But it's the world we live in."The administration released a $4.4 trillion 2019 budget proposal yeste...Read More