Stocks are pointed lower to kick off the shortened week, with equities on track to snap their winning streaks. Dow Jones Industrial Average (DJI) futures are down triple digits, as retail giant Walmart (WMT) takes a pre-market dive afterfourth-quarter earnings fell short of estimates. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are down as well, moving inversely to a rising U.S. d...Read More
Newmont MiningCorp. (NYSE: NEM)reports that the board of directors has declared an increase in thefourth-quarter dividend to 14 cents per share, payable on March 22 toshareholders of record at the close of business on March 8. “We’re pleased toannounce that we have raised our dividend to nearly three times higher than theprior-year quarter,” says Gary J. Goldberg, president and c...Read More
Barrick Gold's Chief Innovation Officer, Michelle Ash, has been appointed as the new chair of the Global Mining Standards and Guidelines Group (GMSG), an industry body that seeks to improve communication, facilitate collaboration and foster a more sustainable and efficient future of mining.Ash, who for the past two years served on the GMSG Leadership Council, will assume the new post in May thi...Read More
Mr. John Burzynski reportsOSISKO MINING INC. FILES EARLY WARNING REPORT Osisko Mining Inc. has filed an early earning report in respect of Canadian Orebodies Inc. as a result of the expiry of 3,231,250 warrants to purchase common shares in the capital of Canadian Orebodies held by the corporation.Immediately prior to the expiration of warrants, Osisko had ownership or control, directly or indirect...Read More
"To the degree computers were taking cues off volatility, sell programs were likely tripped, causing major losses in the equity market. And as I've cautioned before, once there is a 'trigger' to destabilize equities, the never-ending put open interest that builds up below the market month after month on equity exchange-traded funds (ETFs), such as the SPY, can become magnets. This is likely what w...Read More
OAK BROOK, Ill., Feb. 20, 2018 /PRNewswire/ -- Millennium Trust Company, LLC, (Millennium Trust) a provider of specialized custody services to advisors, financial institutions, businesses and individuals, has announced the alliance with Gold Bullion International (GBI), a leading institutional precious metals provider to individual investors and the wealth management industry.Clients of Millenniu...Read More
Mr. Sean Roosen reportsOSISKO GOLD ROYALTIES REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTSOsisko Gold Royalties Ltd. has released its results for the fourth quarter and full year 2017 and provided its 2018 guidance. Sean Roosen, chair of the board and chief executive officer, commented on the 2017 performance: "Two thousand seventeen has been a transformational year for Osisko with the acquisi...Read More
No surprises here; gold andequities are under pressure. After rallying six days in a row, equities areunder pressure and the pattern is consistent with a market top. All rallies toresistance levels should be sold in equities until further notice. The heavyvolume and volatility on the breaks, and more importantly the rip-you-face-offrallies, are a sell signal.Very similar to equities, goldhas ralli...Read More
(Kitco News) - Gold remains under pressure as higher bond yields have attractedflows into the U.S. dollar. The U.S. government is auctioning off a massiveamount of U.S. debt and tepid demand may push yields higher and continue tomaintain flows into the dollar. We remain neutral on the short-term optics for gold, after suggestingliquidation of long positions at the $1,358 level late last week. We l...Read More
(Kitco News) - Gold andsilver prices are solidly lower in early U.S. trading Tuesday. Higher worldgovernment bond yields and a resurgent U.S. dollar to start the U.S. tradingweek are working against the precious metals market bulls. April Comex gold futures were last down $14.70 an ounce at $1,341.40. March Comex silver waslast down $0.222 at $16.49 an ounce.Globalstock markets were mostly lower o...Read More
Gold is lowerand has been below $1,340 an ounce as the U.S. dollar appreciates, saysCommerzbank. “Yields on 10-year U.S. Treasuries are likewise rising slightly,which is presumably also weighing on the gold price,” the bank says. “Gold ineuro terms is faring somewhat better at a good ?,?1,080 per troy ounce.” Analystspoint out that silver is suffering “disproportionat...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
* 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