Toronto-based Yamana Gold said on Friday that an accident at its Gualcamayo mine in Argentina resulted in two fatalities.The accident involved two employees of a local contractor traveling in a light truck on an access road at the Las Vacas exploration site, the company said, adding that no additional details were available.Read More
* U.S. Treasury yield spike fails to boost dollar* Euro holds above $1.25 mark; gains on week* Traders prepare for non-farm payroll data* Chinese yuan hits fresh 2 1/2 year high* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 2 (Reuters) - The euro held above $1.25 on Friday, continuing a strong week in which rising U.S. treasury yields failed to lift the dollar while the euro zone's e...Read More
Precious metal miner Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Friday all the workers that were trapped since Wednesday night at its Beatrix gold mine in South Africa have been rescued.Nearly 1,000 miners got stuck underground for more than 24 hours after a storm knocked out power lines supplying electricity to Beatrix. Emergency power supply from backup generators enabled 64 employees to ret...Read More
MOSCOW, Feb 2 (Reuters) - Russian anti-monopoly service has allowed the mid-sized gold miner GV Gold to acquire Zoloto Kamchatki and other gold assets from Russian businessman Viktor Vekselberg and his partners, the service said in a statement on Friday. (Reporting by Oksana Kobzeva; writing by Polina Devitt; editing by Katya Golubkova) Disclaimer: The views expressed in this article are those o...Read More
Gold gains on US Dollar woes. US Treasury yields remain a threat to Gold gains. Gold is up almost three percent in 2018, trading just beneath 1,350.00 today during Tokyo, spurred on by a weaker US Dollar. The usual relationship between Gold and US bonds seems to have broken down as of late; rising U STreasury yields normally depress Gold prices, but that relationship hasn't manifested...Read More
Rate hike odds soared after the latest FOMC meeting, and the upcoming March meeting looks "live".Despite the threat of rising rates, gold is more strongly influenced by ex-US global growth.Thanks to the Eurodollar system, Fed rate hikes have a limited impact on the dollar.Following yesterday's statement from the Federal Reserve, the odds of a rate hike are soaring, according to the CME's...Read More
Even with solid U.S. economic growth, construction spending rose in 2017 by the least in six years, as nonresidential building slowed and outlays by governments declined.The value of construction put in place increased 3.8 percent to $1.23 trillion last year, according to Commerce Department figures released Thursday in Washington. That’s the smallest gain since a 2.6 percent drop in 2011....Read More
U.S. factories expanded more than forecastin January and near the fastest pace in more than 13 years,indicating manufacturing was still powering ahead at the startof 2018, Institute for Supply Management data showed Thursday.Highlights of ISM Manufacturing (January)Factory index was little changed at 59.1 (est. 58.6) from 59.3 in Dec.; readings above 50 indicate expansion Gauge remains close to Se...Read More
U.S. Productivity Slows as Unit Labor Costs Jump 2% Productivity in the U.S. unexpectedly fell for the first time since early 2016 as working hours slightly outpaced output, underscoring a sluggish pace of efficiency gains during this expansion, a Labor Department report showed Thursday.Highlights of Productivity (Fourth Quarter)Measure of nonfarm business employee output per hour decreased at 0.1...Read More
The Dow Jones Industrial Average finished higher on Thursday, Feb. 1, with the S&P 500 and Nasdaq declining slightly. Investors were anticipating earnings from Apple Inc. (AAPL) , Alphabet Inc. (GOOGL) and Amazon.com Inc. (AMZN) , all reporting after the bell. The Dow was up 37 points, a gain of 0.14%. The S&P 500 was 0.07% lower and the Nasdaq was down by...Read More
10-year yield climbs above 2.78% as fear of contagion mountsApple headlines afterhours tech earnings with AmazonBMO Capital Markets Grows Cautious on Apple U.S. stocks and Treasuries fell in tandem Thursday ahead of a slew of technology earnings, as the threat of higher rates from the Federal Reserve continued to rattle equity markets coming off their best month since March 2016.The Nasdaq 100 Ind...Read More
The bond bubble will be the critical one, Greenspan saysNotes that the U.S. is working toward higher interest rates"The bond market bubble will eventually be the critical issue," Greenspan tells Bloomberg Television.The man who made the term “irrational exuberance” famous says investors are at it again.“There are two bubbles: We have a stock market bubble, and we have a bond m...Read More
Aaron Gentzler: Thanks for making time today with your busy schedule. How's it going down south?Ray Blanco: Doing great down here in Florida. Nice and warm.Aaron Gentzler: Excellent. Always great to hear. Let's get right to it. Today, I want to talk artificial intelligence (AI). Can you give a big picture overview?Ray Blanco: Sure, traditionally the way we've dealt with computers is, you pro...Read More
Short sellers are having a tough time.The market's record-setting run has repeatedly mauled the bears. Investors continue to pile into stocks as they approach nosebleed territory. Few vulnerable plays are offering major paydays for the shorts - until this week.Short sellers just booked $294 million in a single day on a rare triumph against the health care sector. Traders booked their gains on the...Read More
Every investor loves when one of their stocks is bought out for a big, juicy premium.I certainly do.Takeovers are one of the fastest ways to bank BIG gains in less than 24 hours.That's why I am digging into the biotech sector right now. This sector has a serious case of takeover fever.So today, I'm playing doctor to diagnose the two big causes of this takeover fever. And then I'll tell you how to...Read More
CloseGain/LossOn WeekGold $1331.80-$18.20-1.32%Silver$16.60-$0.64-4.65%XAU83.88-4.25%-7.12%HUI188.03-4.41%-7.54%GDM642.62-2.88%-5.89%JSE Gold1228.89-15.95-6.41%USD89.16+0.57+0.07%Euro124.59-0.60+0.28%Yen90.85-0.59-1.22%Oil$65.45-$0.35-1.45%10-Year2.838%+0.059+6.73%Bond145.00-1.5625-2.58%Dow25520.96-2.54%-4.12%Nasdaq7240.95-1.96%-3.53%S&P2762.13-2.12%-3.85% The Metals: Gold fell $22.50 to a...Read More
By Frank HolmesIn its outlook for 2018, Thomson Reuters GFMS analysts see gold prices rising to $1,500 an ounce sometime this year on inflation fears. This would put gold at a level unseen since April 2013.According to Thomson Reuters, the price appreciation could be driven by "concerns that the United States may pull out of NAFTA," or the North American Free Trade Agreement. NAFTA, of course, i...Read More
Click Here to Listen to the Interview - *the interview begins at 05:25Greg Weldon of Weldon Financial talks about precious metals and other commodities. Greg has some interesting things to share about inflation taking hold in 2018, what kind of year he thinks it'll be for gold and silver. Plus, you'll find out which precious metal this veteran commodities trader is most excited about.Click Here t...Read More
By Ira EpsteinWage increases increased at the most rapid rate since 2009, causing interest rates to soar which sent gold prices down sharply today.https://www.iraepstein.com/ Read More
Something is going on in the global bond market and it doesn't look good for most of the other markets. In the US Treasury market, yields have broken above resistance levels not seen since 2014 respectively and we're seeing similar moves in the global sovereign bond markets.There are many reasons interest rates matter, today we're going to look at three of those reasons.First is the debt that was...Read More