There are times when the marketsdo the unthinkable, and this is one of those times. Gold is now breaking outagain to the upside, adding on to the rally that began Dec. 12. Our long-termviews on gold were bullish. We called the end of the bear market in metals butthought we would see a retracement and could profit from the short side. Wewere wrong!Gold has broken out to the upsideand now brings the...Read More
(Kitco News) -Gold and silver prices are solidly higher in early U.S. trading Wednesday. Goldprices have scored a 4.5-month high. A sharply lower U.S. dollar index thatslumped to a 3.5-year low today is providing the precious metals bulls withsome rocket fuel. February Comex gold was last up $15.50 an ounce at $1,352.20.March Comex silver was last up $0.382 at $17.29 an ounce.Helpingto sink the U....Read More
StandardChartered sees potential for interest in gold as an inflation hedge to pick upagain. “Rising inflation expectations as a driver of gold prices have providedlittle motivation for investors to buy gold over the past year,” analysts say.This has occurred since inflation has not materialized despite quantitativeeasing in key developed nations. “The relationship between gold a...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
The market seems to only go up now. The year 2017 is only the second on record since 1929 that the maximum drawdown on the S&P 500 Index (SPX) was less than 3%. Thinking about that, if you had bought and then sold at the worst possible times last year,you would have lost a measly 2.8%. Stocks don't look to be slowing down, either. The S&P 500 is already up 6% this year, but can this continue? This...Read More
Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, has agreed to buy a 12.5% stake in fellow Canadian miner Royal Road Minerals (TSX-V:RYR) in a shares-deal worth about Cdn$1.6 million (roughly $1.3 million at today's rates).The transaction will see Barrick acquire 9,875,876 ordinary shares of Royal Road in a non-brokered private placement at a price of $0.16 per unit for t...Read More
Tech may prevent spread of conflict minerals, money launderingBullion joins commodities from oil to tomatoes in ledger pushGold Soars as Crypto Currencies PlungeGold is going digital.Blockchain technology may help keep track of the roughly $200 billion of the precious metal dug from remote mines, traded by middlemen and melted down by recyclers that’s sold each year to buyers scattered arou...Read More
Stocks were mixed on Tuesday, Jan. 23, as investors turned their attention to corporate earnings after U.S. lawmakers ended a three-day government shutdown on Monday, Jan. 22. The Dow Jones Industrial Average closed a mercurial day in the red Tuesday while the Nasdaq and S&P 500 continued their record-setting pace. The Nasdaq gained 0.71%, or 52 points, to 7,460.29 while the S&P 500...Read More
Dollar declines; copper tumbles as inventories surgeWest Texas crude to $64 a barrel; price of gold advancesTrade issues are the "biggest risk" to the global economy, BlackRock's Philipp Hildebrand says in Davos.U.S. stocks rose a third day, while emerging-market equities hit the highest in a decade as synchronized global growth boosts corporate profits. Oil jumped as the dollar fell.The S&P 5...Read More
Stocks traded mixed on Tuesday, Jan. 23, as investors turned their attention to corporate earnings after U.S. lawmakers ended a three-day government shutdown on Monday, Jan. 22. The Dow Jones Industrial Average fell 0.17% to 26,170, the S&P 500 fell 0.03% after rising earlier, and the Nasdaq gained 0.28%. All three indexes scored record intraday highs soon after markets opened. Shares o...Read More
A big swing state is gearing up for legalized pot sales in the next couple of months.It could quickly become one of the biggest markets for marijuana nationwide.But first let's take a look at the cannabis cash cow up north.Canadian Pot Stocks on Major RipEveryone’s gearing up for July 2018 in Canada.That's when the Canadian government expects to have legislation in place fully legalizing rec...Read More
More all-time highs are in the books for the major averages as a temporary fix to the government shutdown come through and earnings season starts off hot...But the real action is in happening in biotech stocks. A couple of big buyouts paved the way for some impressive biotech gains to kick off the new trading week.First up, Celgene Corp. (NADSAQ:CELG) plunked down $9 billion to acquire Juno Therap...Read More
Exchange-traded funds backed by bullion reach 2,250 tonsGold extends gains after posting the best year since 2010Gold Soars as Crypto Currencies PlungeInvestors are piling into exchange-traded funds backed by gold, pushing assets to the highest in more than four years.Holdings climbed to 2,250 tons on Monday, the highest since May 2013, according to data compiled by Bloomberg. The rise in ETFs com...Read More
There appears to an inverse relationship between Bitcoin and gold: one moves up, the other moves down; one moves down, the other moves up.Based on Elliott Wave analysis, Bitcoin appears to have made a new low and is poised for a move up in the coming week.The Bitcoin Investment Trust is a margin-free instrument that is traded on the OTC and allows traders with a set strategy to take advantage of B...Read More
Tech may prevent spread of conflict minerals, money launderingBullion joins commodities from oil to tomatoes in ledger pushGold Soars as Crypto Currencies PlungeGold is going digital.Blockchain technology may help keep track of the roughly $200 billion of the precious metal dug from remote mines, traded by middlemen and melted down by recyclers that’s sold each year to buyers scattered arou...Read More
Investing.com - Gold prices edged higher on Tuesday, supported by a weaker U.S. dollar languishing near three-year lows after U.S. lawmakers reached a deal to end a government shutdown.Comex gold futures were at $1,336.10 a troy ounce by 3:15AM ET (0815GMT), up around $4.00, or 0.3%, from the last session's closing price.Meanwhile, silver futures tacked on 5.0 cents, or 0.3%, to $17.04 a troy ounc...Read More
CloseGain/LossGold $1357.70+$16.70Silver$17.56+$0.51XAU92.08+2.42%HUI207.17+2.19%GDM688.77+2.23%JSE Gold1313.95+48.88USD89.25-0.87Euro124.02+1.04Yen91.76+0.97Oil$65.61$1.1410-Year2.652%+0.006T-Bond148.65625-0.5625Dow26252.12+0.16%Nasdaq7415.06-0.61%S&P2837.54-0.06% The Metals: Gold climbed up to $1355.40 in midmorning New York trade before it pared back a bit into midday, but it then jumpe...Read More
For the past few years the "strong dollar" has been so central to the global financial story - enabling ever-lower interest rates and ever-higher financial asset prices pretty much everywhere - that it's easy to forget how illusory "strength" is for fiat currencies. Since mid-2017 that illusion has been evaporating, as the dollar falls (both against other fiat currencies and assets like oil, bit...Read More
Colorado Springs, CO., Jan. 24, 2018 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of 1/6 of a cent per common share for January 2018 payable on February 23, 2018 to shareholders of record as of February 12, 2018. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxa...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More