(Kitco News) - Gold prices are moderately higher and have hit newsession highs in late-morning action Tuesday. After some light selling pressuredropped gold prices from their overnight highs, there were traders ready tostep in to "buy the dip." The rally in the gold market also coincidedwith a solid drop in the U.S. dollar index to a new three-year low today.Februarygold was las up $5.40...Read More
By Massimiliano Di GiorgioROME, Jan 23 (Reuters) - The leader of Italy's far-right Northern League on Tuesday called the euro "a failed experiment" and presented outspoken anti-euro economists among his election candidates, widening divisions with his ally Silvio Berlusconi.The four-times prime minister Berlusconi is presenting himself as a moderate, pro-European figure ahead of the Marc...Read More
It's been rough sledding in the new year for GoPro Inc (NASDAQ:GPRO), and today is no different. This morning, Morgan Stanley downgraded the camera maker to "underweight" from "equal weight," while issuing a price-target cut to $5 from $9.50. Analysts at the firm noted that the company's camera usability is not improving fast enough, and that software development is critical for a rebound in 2018...Read More
Shares in Pretium Resources Inc (NYSE:PVG) tanked on Tuesday after the company announced disappointing production and cost forecasts from its Brucejack gold-silver mine in British Columbia.During lunchtime trade the Vancouver-based producer was exchanging hands for $7.95 a share, down 26.3% on the New York Stock Exchange, in massive volumes of more than 10m shares traded. Pretium is now worth $1.9...Read More
Shares of software stock Adobe Systems Incorporated (NASDAQ:ADBE) and tech accessories producer Logitech International SA (USA) (NASDAQ:LOGI) are rallying today, following the companies' impressive quarterly updates, with each raising their current-quarter and full-year outlooks. Against this backdrop, we'll take a closer look at ADBE and LOGI below. Adobe Stock Analysts Pile On with Bull NotesAdo...Read More
Shares of electric vehicle maker Tesla Inc (NASDAQ:TSLA) are higher after the company revealed CEO Elon Musk's new compensation plan, which is now tied to Tesla's market cap and operational milestones. In short, Musk won't get paid if TSLA stock doesn't perform. Tesla stock was up 1.1% at $355.34, at last check, continuing its recent uptrend above the newfound support of its 252-day moving average...Read More
NEW YORK, January 23, 2018 /PRNewswire via COMTEX/ --NEW YORK, January 23, 2018 /PRNewswire/ --Gold price traded higher on Monday due to a weaker dollar. Gold Spot rose 0.19 percent to $1,336.43 per ounce during the Monday trading session. The U.S. Gold future for February delivery rose 0.29 percent to $1,335.8 per ounce, while the U.S. Dollar Currency Index still traded near its three year low of...Read More
It's set to be a big week for Whirlpool Corporation (NYSE:WHR) stock. Ahead of the company's quarterly earnings release tomorrow night, WHR shares are surging after a tariff win. Specifically, the Trump administration imposed steep tariffs on imported washing machines, which Whirlpool Chairman Jeffrey Fettig said "caps nearly a decade of litigation and will result in new manufacturing jobs" across...Read More
(Kitco News)- The silver market and investorsare taking in stride tariffs on solar panels imported into the U.S.;analysts say that they see the move having limited impact on prices through2018.Monday, President Donald Trumpapproved applying safeguard tariffs for the next four years on imported solarcells and modules. The sector would see a 30% tariff in the first year, a 25%tax in the second year,...Read More
OSLO, Jan 23 (Reuters) - Norway's central bank has awarded 30 billion Norwegian crowns ($3.83 billion) in an F-deposit for Jan. 23 to Feb. 1, with a highest rate of 0.49 percent, it said on Tuesday.Overall demand in the auction was for 50.95 billion crowns.Allocation at the highest rate was 3.26 percent, the central bank added.($1 = 7.8396 Norwegian crowns) (Reporting by Oslo newsroom) Disclaimer...Read More
(Kitco News) - Gold prices are trading near steady levels inlate-morning action Tuesday and have given up their modest early gains. A dropin the silver futures market to a three-week low has spilled over into someselling pressure in the gold market. Some profit-taking from recent gains isfeatured in both gold and silver markets today. Februarygold was last up $0.50at $1,332.30. Marchsilver futures...Read More
Micaella Feldstein, Research Analyst at Natixis, suggests that as upside parallels are still intact on the daily chart of gold and as the daily MACD (trend indicator) remains bullish, dips towards the support at 1318 (daily parabolic) will be seen as corrective. Key Quotes “Gold is indeed expected to resume the upside to 1340-1342 (weekly Bollinger upper band) ahead of eyeing 1347 (declining...Read More
Dow futures are sluggish this morning, despite a round of relatively well-received blue-chip earnings and the end of the government shutdown. Verizon (VZ), Johnson & Johnson (JNJ), and Travelers (TRV) stocks are pointed higher after earnings, though fellow Dow stock Procter & Gamble (PG) is headed lower. The big earnings winner ahead of the bell so far is FAANG stock Netflix (NFLX), which has the...Read More
Gold looks constructive on the technical charts as the metalcontinues to get a “slight sparkle” with the U.S. dollar remaining nearthree-year lows, says LukmanOtunuga, research analyst at FXTM. “The yellow metal remains bullish onthe daily charts and has the potential to venture higher amid the weakeningU.S. dollar,” the analyst says. “From a technical standpoint, the...Read More
SANTIAGO, Jan 23 (Reuters) - Chile's conservative President-elect Sebastian Pinera on Tuesday named Senator Baldo Prokurica as incoming mining minister, a key post in the world's top copper exporter.Pinera, who won the presidency last month, governed the country from 2010 to 2014. He named his former Finance Minister Felipe Larrain to fill the same spot again in his incoming cabinet. (Reporting by...Read More
(Kitco News) - TheLondon Bullion Market Association is seeking proposals on how to develop a“blockchain” for gold to underpin integrity of the supply of the metal, theorganization announced Tuesday.Accordingto news reports, this would track metal to its origins, thereby helping preventuse of gold for financing terrorism, money laundering and helping resolve theproblem of “conflic...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
Mr. John Burzynski reportsOSISKO INTERSECTS 415 G/T AU OVER 5.9 METRES AT LYNXOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and around...Read More
PretiumResources Inc. (TSX,NYSE: PVG) produced 70,281ounces of gold at its Brucejack Mine in British Columbia during the fourthquarter as ramp-up continues. As a result, officials now list 152,484 ounces ofgold produced during the first six months of ramp-up. Officials say steadystate gold production is expected by mid to late 2018 as the ramp-up of mining into areas ofhigher-definition drill...Read More
Mr. Walter Coles reportsSKEENA INTERSECTS 91.56 G/T GOLD OVER 3.82 METRES AT SNIPSkeena Resources Ltd. has released additional drill results from nine holes at the company's Snip gold project located in the Golden Triangle of British Columbia.Drilling highlights: UG17-044: 12.59 grams per tonne gold over 4.70 metres; UG17-053: 58.70 g/t Au over 1.15 metres; UG17-054: 30.40 g/t Au over 1.50 metres...Read More