(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
Australia's Lucapa Diamond (ASX:LOM) announced that, for the first time, workers at its 70% owned Mothae mine in Lesotho have recovered diamondssourcedfromresidualmaterialandkimberlitestockpiles.In a press release, the company explained that the gems were recovered through theexisting bulk sampling plant and infrastructure at Mothae, which has been refurbished ahead of schedule as part of a previo...Read More
(Repeats to add story tag)* Commodity fund managers struggle vs computer-driven rivals* Automation drives half of U.S. commodity futures trading* Systematic funds crunch huge amounts of data* GRAPHIC- Rise of automated trading: By Eric OnstadLONDON, Feb 12 (Reuters) - "Chocfinger" made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading,...Read More
* Dollar weakens after last week's rally* Euro pauses below $1.23* 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 bounce in equity markets ended a strong run for the greenback in which nervous investors had rushed to reverse their bets against the U.S. cur...Read More
(Adds detail)LONDON, Feb 12 (Reuters) - Acacia Mining has scrapped its 2017 dividend after full-year core earnings fell by more than a third because of a ban on unprocessed mineral exports in Tanzania, it said on Monday.The company, which is majority owned by Barrick Gold , said full-year earnings before interest, tax, depreciation and amortisation (EBITDA) fell 38 percent to $257 million after t...Read More
Barrick Gold Corp. executives will have some explaining to do when the company releases full-year results Wednesday.Even with rising gold prices and a strengthened balance sheet, the world's largest gold producer left shareholders with the worst returns among its top North American peers last year and the third-worst performance in the 15-company BI Global Senior Gold Valuation Peers index.That's...Read More
Bob Moriarty ArchivesFeb 12, 2018We have just gone through an interesting two weeks in the markets. I tried to predict it in a piece I wrote back in January. I talked about how twelve commodities I track via the DSI were showing extremes of emotion. That's when markets tend to turn. Of the dozen commodities I said would turn, every single one did. I know of no other indicator that has ever showed...Read More
What’s supposed to be the most volatile asset in the universe is proving to be a bastion of stability compared with wild swings and carnage in global equities this week.Bitcoin clawed its way back from the four-month low of $5,922 it touched on Tuesday, rebounding 53 percent to $9,069. The S&P 500 Index and the Dow Jones Industrial Average both fell more than 5 percent this week, w...Read More
CloseGain/LossGold $1321.30+$6.50Silver$16.52+$0.20XAU81.08+3.49%HUI180.45+3.38%GDM613.99+2.89%JSE Gold1118.34-13.55USD90.14-0.29Euro122.92+0.54Yen92.02-0.07Oil$59.29+$0.0910-Year2.857%+0.002T-Bond144.50+0.34375Dow24601.27+1.70%Nasdaq6981.96+1.56%S&P2656.00+1.39% The Metals: Gold gained $11.10 to $1325.90 in early Asian trade before it fell back to $1317.50 in London, but it then climbed t...Read More
By Ira EpsteinMetals move higher, but will it last?https://www.iraepstein.com/ Read More
Eric Griffin takes your top questions to ITM Trading's Chief Market Analyst Lynette Zang.Question 1. Silver Birddog: I have a question about median home value in 1920 vs median home value today. When the price is divided by ounces of gold, they are both roughly 239 ounces. Could you get The Queen to opine on that?Question 2. Francisco: I do believe gold is a good store of value, but I also know is...Read More
The purpose of this update is to try to make sure that you remain aware that the dollar has broken down from a giant top area, and is probably headed much lower, a prospect which is not diminished by the modest countertrend rally of the past week or so. We can see this top area and the breakdown last month to advantage on the latest 4-year chart for the dollar index below. With respect to the do...Read More
David Stockman on 'Mornings with Maria' (Fox Business Network, Feb. 12, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is...Read More
By Clint Siegner U.S. equities got a free ride on the Trump train after his election, even as Federal Reserve officials hiked interest rates. That ride may have ended last week.If commentators are correct and the blame for recent selling in the stock market falls on the burgeoning fear of rising interest rates, it looks like Fed tightening is finally having the effect many predicted when the cyc...Read More