(Kitco News) - Goldprices briefly slipped below unchanged levels inmid-morning U.S. dealings Tuesday. However, traders quickly stepped in to"buy the dip" in prices, to push gold back above unchanged and totrade modestly up on the day. A slumping U.S. dollar index early this week isworking in favor of the precious metals market bulls. Aprilgold was last up$3.70 an ounce at $1,330.10.By Ji...Read More
Gold is still making higher highs.It seems now to be bouncing out of a daily cycle low.The dollar has also topped. We could have a nice rally on our hands.The gold market (NYSE:GLD) remains a very difficult sector to trade. Gold has actually formed a daily swing low which could mean we have a daily cycle low on our hands. Why? Well the momentum oscillators have reached oversold territory and short...Read More
The S&P 500 Index (SPX) on Monday notched a gain of more than 1%, after rallying on Friday. It marked the index's first back-to-back gains of that magnitude since June 2016. The last time the SPX went at least a year without consecutive gains was in February 2014, four years ago, according to Schaeffer's Senior Quantitative Analyst Rocky White. Here's what that could mean for the stock market in t...Read More
GNC Holdings Inc (NYSE:GNC) stock is at the top of the New York Stock Exchange (NSYE) -- up 25.5% to trade at $5.26 -- afterthe health and wellness retailer announced a joint venture with Harbin Pharmaceutical to make and sell its products in China. The Chinese drumaker will also invest roughly $300 million in GNC, becoming its largest shareholder. The company also reported fourth-quarter earning...Read More
There has been some debate on Wall Street lately as to whether the "changing of the guard" at the Federal Reserve triggered the major stock market drop in February. Coincidence or not, we know that Jerome Powell was sworn in as the head of the Federal Reserve on Monday, Feb. 5, which wound up being the Dow Jones Industrial Average's (DJI) worst single-session point loss on record. The stock market...Read More
(Kitco News) - Goldpriceshave slipped from modestly higher levels seenovernight to near steady in late-morning trading Tuesday. The light sellingpressure comes as the U.S. stock market is lower, but the volatility is nothigh and the selling pressure is orderly. If volatility in the stock marketheats up today, then look for gold prices to see some fresh safe-haven demand. Selling pressure in the go...Read More
Concerns about competition from e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) have rattled several sectors recently, including shipping stocks. Today, the shares of several healthcare suppliers are lower on reports that Amazon is aiming to be a major hospital supplier (subscription required). Against this backdrop -- not to mention buzz about a big pharmacy merger in the works -- McKesson Corpor...Read More
Shares of AmerisourceBergen Corp. (NYSE:ABC) are up 13.9% in electronic trading -- which would mark their best day since mid-2000 -- amid reports Walgreens Boots Alliance (WBA) is considering a full takeover of the drug distributor. According to the Wall Street Journal, WBA -- which already owns a 26% stake in ABC -- is in early stage talks to buy out the remaining shares, though a formal offer ha...Read More
Mr. Michael Williams reportsVENDETTA REPORTS ADDITIONAL HIGH GRADE DRILLING RESULTS FROM THE RECENT BRIDGE ZONE DISCOVERY AT THE PEGMONT LEAD-ZINC PROJECTVendetta Mining Corp. has released results from the Bridge zone and other drilling from the completed 2017 program at the Pegmont lead-zinc project in Queensland, Australia.Bridge zone sulphide highlights:PVRD132: six metres of 14.41 per cent Pb-...Read More
Stock futures are trading firmly below fair value this morning, signaling a reversal after two straight days of gains. Dow Jones Industrial Average (DJI) futures are down over triple digits, with anxiety ramping up ahead of the release of inflation data later this week. Traders are also digesting President Trump's newly unveiled budget proposal, which would more than double the U.S. deficit over...Read More
Iamgold Corp. (TSX: IMG; NYSE: IAG) reports that proven andprobable gold reserves at the end of 2017 increased by 86% to 14.5 millionounces from 7.8 million at the end of 2016. The addition of6.7 million ounces was primarily due to conversion of resources toreserves at the C??t?(C) goldproject in Ontarioand at the Botogold project in eastern Senega...Read More
MOSCOW, Feb 13 (Reuters) - Russia produced 306.9 tonnes of gold in 2017, up from 288.5 tonnes in 2016, the finance ministry said on Tuesday.Production for the period included 253.9 tonnes of mined gold compared with 237.8 tonnes in 2016, the ministry said in a report.Silver production totalled 1,044.3 tonnes in the January to December period, down from 1,088.9 tonnes in 2016, the ministry said. (R...Read More
(Kitco News) - Goldhas once again proved a viable diversifier in abalanced portfolio. As investors scrambled to meet margins on equity calls and found liquidity lacking asglobal markets were swinging widely, gold provided the liquidity for investors.The catalyst of higher yields and fears of accelerating inflation causedanalysts to re-examine equity valuations,and the large expected rise in the U....Read More
U.S. dollar weakness has supported gold so far Tuesday, although theabsence of traders from certain Asian gold-buying nations during the upcomingChinese New Year holiday period could take away physical buying for a spell,says Sam Laughlin, senior trader with MKS (Switzerland) S.A. Gold rose inAsia-Pacific trade, underpinned as the U.S. dollar fell against the Japaneseyen, he explains. Bullion move...Read More
Mr. John Burzynski reports OSISKO MINING PROVIDES ONTARIO EXPLORATION UPDATE Osisko Mining Inc. has provided an update on the progress of exploration at its 100-per-cent-owned Garrison gold project located in Garrison township, Ontario.Osisko has been conducting new exploration and definition drilling at Garrison for 20 months, since early 2016. As of the end of January, 2018, Osisko has completed...Read More
(Kitco News) - Goldprices are modestly up in early U.S. trading Tuesday. Some mild safe-havendemand is featured as the U.S. stock market is set to open lower. The preciousmetals are also supported by a lower U.S. dollar index on this day. April Comex gold futures were last up $2.50 an ounce at $1,328.90. March Comex silver waslast down $0.02 at $16.55 an ounce.Worldstock markets were mixed but mos...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
Equities had what's known in thebusiness as a rip-your-face-off rally Monday, exploding almost 500 points. Therally was no surprise; six ugly days in a row usually leads to a viciousshort-covering rally. That's exactly what we got -- a short squeeze in a marketthat has topped.Gold also had a nice rally onMonday, not as powerful as equities but certainly based on the sameshort-covering set-up. Afte...Read More
ELKO, Nev., Feb. 13, 2018 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today announced completion of the Fall 2017 drilling program and receipt of all certified assay results. The primary purpose of this scout hole program was to obtain more information about important host rock characteristics including, presence, distribution, depth, and the hydrothermal system presence and alteration eff...Read More
* Yen up 1.1 pct on day* Euro rises for 2nd day after falls last week* Dollar retreats after best week since 2016* Rand up after ANC decides to remove Zuma* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 13 (Reuters) - The Japanese yen rose to a five-month high on Tuesday on the back of broad-based selling of the dollar and speculation the Bank of Japan could be close to dialling back...Read More