Bullion clinched early highs near $1,330. USD-selling behind the up move. Upcoming US data next risk event in the metal. The precious metal is reverting Friday’s pullback and is now posting decent gains in the $1,320/30 band amidst a renewed selling bias around the buck. Gold up on USD weakness The ounce troy of the yellow metal is gathering traction at the beginning of the week following...Read More
CAIRO, Feb 12 (Reuters) - The average yield at auction on Egyptian one-year dollar-denominated treasury bills fell to 3.295 percent on Monday from 3.346 percent at the previous sale on Jan. 8, the central bank said.The bank accepted bills worth $1.075 billion.Appetite for Egypt's domestic debt has grown since the central bank devalued the pound currency in November 2016 as part of a deal for a $12...Read More
Feb 12 (Reuters) - Wall Street's main indexes opened higher on Monday, led by technology and financial stocks, as they attempt to bounce back from their worst week in two years.The Dow Jones Industrial Average rose 215.99 points, or 0.89 percent, to 24,406.89. The S&P 500 gained 22.68 points, or 0.87 percent, to 2,642.23. The Nasdaq Composite added 62.39 points, or 0.91 percent, to 6,936.88. (...Read More
By Nichola SaminatherTORONTO, Feb 12 (Reuters) - Canada's main stock index opened higher on Monday with all 10 sectors posting gains, taking its cue from a positive open in markets around the world.The Toronto Stock Exchange's S&P/TSX composite index opened up 113.57 points, or 0.76 percent, at 15,148.10. (Reporting By Nichola Saminather; Editing by Meredith Mazzilli) Disclaimer: The views ex...Read More
By Ben MartinLONDON, Feb 12 (Reuters) -Financial services business JTC Group is gearing up for a London stock market float that could value the private-equity backed firm at more than 300 million pounds ($414.33 million), according to two sources with knowledge of the matter.Jersey-based JTC, which has buy-out house CBPE Capital as a minority investor, is working with stockbrokers Zeus and Numis t...Read More
(Recasts with Richter plunging, Polish Ciech share falls)By KrisztinaThanBUDAPEST, Feb 12 (Reuters) - Central European stock markets rebounded on Monday from sharp falls last week, with Hungarian drug maker Richter bucking the trend and plunging three percent on adverse news about one of its main products.The region's main stock exchanges jumped following a positive close on U.S. markets on Friday...Read More
(Adds detail on outlook for interest rates and QE)By David MillikenLONDON, Feb 12 (Reuters) - Bank of England policymaker Gertjan Vlieghe said a further rise in British interest rates was likely to be needed if the global economic recovery and a pick-up in wages continued to offset headwinds from Brexit.The BoE last week surprised investors when it said interest rates would probably need to rise...Read More
Hecla Mining Company (NYSE: HL)has provided an upbeat assessment of its exploration program during the fourthquarter. The company cites continued expansion of high-grade, polymetalliczones at San Sebastian, similar to the Hugh Zone on the Middle and Francineveins. Meanwhile, at Casa Berardi, expanded and refined resources that couldincrease the size of the proposed principal and current East Mine...Read More
Stock futures are pointed higher, as markets look to rebound from their worst week since 2016. Dow Jones Industrial Average (DJI) futures are trading over 300 points above fair value, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also slated for a positive open. Investors are anxious to see President Trump's infrastructure plan, which will be unveiled to some extent later toda...Read More
The slide ingold prices last week was accompanied by pronounced outflows from globalexchange-traded funds, including 6.5 tonnes on Friday, says Commerzbank. “Thegold ETFs tracked by Bloomberg decreased by a good 21 tonnes last week, therebyreversing the lion’s share of the inflows seen since the start of the year,”Commerzbank says. Most gold ETFs trade like a stock but track the...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
"A move below SPX 2,730 could result in the round 2,700 area being visited rather quickly. Given the sharpness of Friday's decline, I may as well mention that SPX 2,673.61 and SPY 266.86 are the site of 2017's closing levels, and the next 'line in the sand' if the levels above are taken out ... As for the bad news, the VIX closed above 16.05, which I see as key because it represents half the 2016...Read More
(Kitco News) - Analysts are optimistic when it comes to Chinese gold demandfor the Lunar New Year, stating that they expect to see strong growth despitehigher gold prices. China is already seeing an improvement in gold demand ahead ofthe Lunar celebrations, which will usher in the year of the Dog on Feb. 16. Theoccasion has historically been a key gold-buying opportunity for consumers in acountr...Read More
(Kitco News) - Gold and silver prices are trading moderately higher in early U.S. dealings Monday.The precious metals are supported by a weaker U.S. dollar index and a reboundin crude oil prices. Gains in the metals are being limited by a rebound inworld stock markets to start the trading week. April Comex gold futures werelast up $5.10 an ounce at $1,320.90. March Comex silver was last up $0.216...Read More
Mr. Christian Milau reportsEQUINOX GOLD RECEIVES C$19.2 MILLION FROM PACIFIC ROAD RESOURCES FUNDSEquinox Gold Corp. has received $19.2-million from Pacific Road Resources Funds and issued 21 million Equinox Gold common shares to Pacific Road pursuant to Pacific Road's exercise of non-dilution rights, as previously announced on Jan. 16, 2018. The shares are subject to a four-month hold period expir...Read More
Mr. Nelson Baker reportsDRILLING ON MINERAL MOUNTAIN'S STANDBY MINE PATENTS BEGINS IN THE ROCHFORD DISTRICT, SOUTH DAKOTA, USAMineral Mountain Resources Ltd.'s planned phase 1 drill program consisting of a minimum of 12 drill holes totalling approximately 4,300 metres started Feb. 7 to test the down-plunge extension of the 300-metre-wide Standby mine gold structure partially developed from 1891 to...Read More
Gold and equities are spiking higher this morning, with theDow up over 300 points, continuing Friday's late-day rally. Gold, after beingup more than $15 overnight, has slowly grinded lower and now is up $5.The big question is whether this is a dead cat-bounce inmarkets that are going lower or are the bottoms. We look at this as a dead-catbounce and a natural rally after a heavy sell-off. Both gold...Read More
* Dollar weakens after last week's rally* Euro pauses below $1.23* All eyes on U.S. inflation data due on Wednesday* Stock market bounce seen supporting high-yielding FX* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 12 (Reuters) - The euro edged higher on Monday and the dollar fell back, as a strong start to the week for equity markets ended a rally for the greenback.The dollar last...Read More
BANGKOK, Feb 12 (Reuters) - Thailand's central bank said on Monday it had asked financial institutions not to get involved in cryptocurrency transactionsfor fear of possible problems from the unregulated trading.Banks are prohibited from investing or trading in cryptocurrency, offering cryptocurrency exchanges and creating platforms for cryptocurrency trading, the central bank's governor, Veeratha...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 bullion producer, has scrapped its 2017 dividend after a long-running dispute with the government of the East African nation cost the company $700 million in annual loss.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), also said its gold output would drop in 2018 as a result of the ongoing ban on exports of metal concentrate, which represent...Read More