Chipmaker Nvidia Corporation (NASDAQ:NVDA) is making headlines after being removed from Goldman Sachs' conviction list, exactly one week before the company is slated to report its fourth-quarter earnings. However, the brokerage firm still has a "buy" rating on the equity and expects the company to announce strong guidance when it reports. Nvidia shares have overcome early losses to trade right nea...Read More
* Central bank delivers third rate hike since August* Governor signals another hike likely later this year* Some analysts had expected faster hike pace* Crown gives up some gains* For TEXT of c.bank statement: (Updates with c.bank, governor comments, market reaction)By Robert Muller and Jan LopatkaPRAGUE, Feb 1 (Reuters) - The Czech National Bank raised interest rates on Thursday for the third tim...Read More
(Kitco News)- The gold market is holding on to positive gains after the manufacturing sector held firm at the start of the year, according to data from the Institute for Supply Management (ISM).Thursday, the ISM said its manufacturing index showed a reading of reading 59.1 for January, well above economists' expectations but down compared to December's reading of 59.7%. Consensus forecasts were...Read More
Following its poorly received earnings release last week, Starbucks Corporation (NASDAQ:SBUX) is seeing bearish analyst attention this morning, while Chipotle Mexican Grill, Inc. (NYSE:CMG) was hit with a downgrade of its own ahead of earnings next Tuesday. We'll quickly check in on shares of SBUX and CMG below to see how the stocks are trading following this round of downbeat attention.More Post-...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Thursday it had bought $2 million worth of options that protect it against lower gold prices in a fresh effort to offset the impact of a government ban on concentrate exports.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), acquired 20,000 ounce of gold put options at a price of $1,320 an ounce. The contracts will expire...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Thursday it had bought $2 million worth of options that protect it against lower gold prices in a fresh effort to offset the impact of a government ban on concentrate exports.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), acquired 20,000 ounce of gold put options at a price of $1,320 an ounce. The contracts will expire...Read More
Golden Star Resources (NYSE American: GSS;TSX: GSC; GSE: GSR) has achieved commercial production at its PresteaUnderground Gold Mine in Ghana. Output will ramp up during 2018. TheWest Reef ore body has proven and probable mineral reserves of 1.09 milliontonnes of gold at 13.93 grams per tonne of gold, the company says. Explorationdrilling is occurring with the goal of upping th...Read More
Mr. Ryan King reportsCALIBRE MINING DRILLING EXPANDS TWO GOLD-SILVER DISCOVERIES INTERSECTING 7.45 METRES GRADING 9.73 G/T AUEQ AND 4.10 METRES GRADING 10.52 G/T AUEQ ON THE EASTERN BOROSI PROJECT, NORTHEAST NICARAGUA Calibre Mining Corp. has provided final drilling results for the Q4 2017 diamond drilling program on the Eastern Borosi gold project, Nicaragua.Exploration and drilling on the projec...Read More
Stock futures are pointed lower to kick off the new month, as traders continue to digest the Fed statement that sent bond yields surging Wednesday afternoon. Dow Jones Industrial Average (DJI) futures are down nearly 120 points, while Nasdaq-100 Index (NDX) futures are also trading well below fair value amid mixed earnings reactions from the likes of Microsoft (MSFT) and Facebook (FB). Expect th...Read More
Drug stock Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was one of the best S&P 500 Index (SPX) performers of 2017, and that momentum is carrying over into the new year. VRTX shares are currently trading 5.8% higher in pre-market action, putting them on pace to open at a record high of $176.50, after the company's earnings release and drug announcements were met with a round of bullish analys...Read More
CIBC looks forthe recent softer trend in the U.S. dollar to eventually continue althoughperhaps with a pause for now. “The U.S. dollar weakness we had projected camefaster than we thought, making a plateau likely,” the Canadian bank says in amonthly foreign-exchange outlook. “But there’s still another leg of USDdepreciation down the road when overseas central banks turn mor...Read More
(Kitco News)- TheU.S. labor market is holding steady as the Labor Department report showed thatweekly U.S. jobless claims dropped by 1,000 to 230,000 claims in the weekto Saturday.Thedata was in line with consensus expectations. The government revised theprevious week's data down by 2,000 claims to 231,000.Meanwhile,the four-week moving average for new claims - often viewed as a more reliable...Read More
(Kitco News) - Gold is on the defensive, but thestill-soft U.S. dollar is likely to cushion the downside for gold, says FXTM.Around 8 a.m. EST Thursday, spotgold was down $5.05 to $1,339.50 an ounce, while the euro was up to $1.2454from $1.2413 late Wednesday. Lukman Otunuga, research analyst at FXTM,commented that gold eased after a Federal Open Market Committee meetingWednesday in which policyma...Read More
Mr. Jeff Pontius reports CORVUS GOLD CONTINUES TO EXPAND MOTHER LODE DEPOSIT EAST, AT DEPTH AND WEST, DRILLING 70.1 METRES at 1.45 G/T GOLDCorvus Gold Inc. has received assay results from the final eight drill holes from its 2017 phase I drill program at its Mother Lode project in southern Nevada. Results from the first drill hole to specifically target to the east of the deposit (ML17-42 with 28....Read More
Mr. Joe Campbell reportsTERRAX CHANNEL SAMPLING CONFIRMS A 100 METER WIDE MINERALIZED ZONE AT SAM OTTO SOUTHTerrax Minerals Inc. has released channel sample results from the Sam Otto South zone on Screamer Island.Sam Otto South is up to 3.5 kilometres south and along trend from the main Sam Otto and extends the potential strike length of that target area to over five km.Channel sample results conf...Read More
Wednesday the Fed announced adecision on interest rates and once again there was no surprise; they didnothing. The equity markets were wild with a 300-point trading range on heavyvolume and volatility. As history has proven, the Fed has no idea of what to donext; in other words, they are clueless.The metals also were volatile,with gold trading in a $16 range between $1,335 and $1,351, closing near...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
(Kitco News) - Gold andsilver markets are near steady levels in early U.S. trading Thursday. Themarkets are pausing ahead of a heavy slate of U.S. economic data due forrelease. April Comex gold futures were last down $0.10 an ounce at $1,342.90.March Comex silver was last down $0.04 at $17.195 an ounce.U.S.economic data due for release Thursday includes the weekly jobless claimsreport, the Challen...Read More
Mr. Brian Groves reportsGENESIS METALS PROVIDES SUMMARY OF 2017 DRILLING RESULTS FROM CHEVRIERGenesis Metals Corp. has provided a summary of significant assay results from core drilling within the main zone completed in 2017 at the Chevrier gold project near Chibougamau, Que. The company completed a total of 6,430 metres of drilling on the main zone. The objective of the program was to validate th...Read More
Over 1,000 miners at Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) Beatrix gold mine in South Africa were trapped underground as a result of a storm that knocked out power on Wednesday night.Storm knocked out power on Wednesday night, preventing evening shift workers from exiting the mine.Spokesman James Wellsted told Eye Witness News that sixty-four workers had been rescued overnight, but over 900 oth...Read More