DAVOS, Switzerland, Jan 22 (Reuters) - Global growth will continue to strengthen this year and next, but a buildup of debt poses risks and policymakers must avoid complacency, IMF Managing Director Christine Lagarde said on Monday in Davos."Global growth has been accelerating since 2016 and all signs point to a continuous strengthening of that growth, this year in 2018 and next year in 2019,&...Read More
* Juno Therapeutics jumps after Celgene's $9 bln deal* AIG to buy reinsurer Validus for $5.6 bln* Senate to vote on extending U.S. funding at noon* Futures down: Dow 49 pts, S&P 0.75 pts, Nasdaq flat (Adds comment, updates prices, details)By Sruthi ShankarJan 22 (Reuters) - Wall Street was set to start the week slightly lower as a U.S. government shutdown entered its third day, while investors...Read More
Franco-NevadaCorp. (TSX, NYSE: FNV) says subsidiary Franco-Nevada (Barbados) Corp. hasagreed to acquire a precious-metals stream on Korea Resources Corp.’s (KORES)10% indirect interest in the Cobre Panama project for $178 million. Terms arethe same as the $178 million stream announced in September in connection withthe First Quantum Minerals Ltd. acquisition of a separate 10% interest fromLS...Read More
(Adds details)NAIROBI, Jan 22 (Reuters) - Kenya's central bank held its benchmark lending rate at 10.0 percent on Monday, saying inflation was within its preferred range and there was increased optimism about the outlook for economic growth.A Reuters poll of 10 analysts had expected policymakers to hold the benchmark rate. The bank's Monetary Policy Committee (MPC) said there was room for "a...Read More
NEW YORK, Jan 22 (Reuters) - The U.S. government shutdown that began on Saturday is disruptive to the economy, but poses no immediate threat to its top notch Aaa-rating as long as it makes its debt payments on time, Moody's Investors Service said on Monday.The federal shutdown, the first since 2013, would make it likely the issue of raising the statutory borrowing limit would become part of the ne...Read More
"On Wednesday, the RSI moved above 80 for the first time since Feb. 21, 2017. Looking back at data for the SPDR S&P 500 ETF (SPY - 277.92)since 1993, this has happened only eight times. Although it is a limited sample size, when RSI reaches this level, the SPY has historically underperformed over one-week and one-month times. The other big takeaway is that the SPY has outperformed over three-month...Read More
As a long-term gold and silver bull, it's always hard to write negatively about the metals, but being a markettechnician, I also must read the charts and follow the footprints they leave.The metals have had a great move higher and now look to have hit the pausebutton; they are ready to see some profit taking.Investors in the metals should behappy about the next sell-off, which is really going to b...Read More
Much of the bad news surrounding the U.S. governmentshutdown has been priced into the U.S. dollar, thus the greenback could be duefor a short-term correction higher, according to foreign-exchange analyst at TDSecurities. However, the bank is maintaining is an overall bearish view of the U.S.dollar, despite the risk of a short-term rally. “As the circus plays out, weexercise caution on chasin...Read More
(Kitco News) - Gold prices are modestly lower in early U.S. trading Monday. Some backing andfilling on the charts is featured following recent price gains that pushed goldto a four-month high. February Comex gold was last down $1.70 an ounce at $1,331.40.March Comex silver was last down $0.111 at $17.025 an ounce.TheU.S. government remains shut down for the third day, as U.S. lawmakers cannotagree...Read More
BRUSSELS, Jan 22 (Reuters) - Euro zone finance ministers will decide on Monday whether Greece is eligible for the next tranche of bailout loans after listening to an expert review of reforms recently adopted by Athens, top euro zone officials said.To pay out 6.7 billion euros ($8.2 billion) of new loans, probably in more than one tranche, international lenders have asked Greece to adopt 110 "...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
(Adds that in Washington, the Smithsonian museums and the National Zoo will remain open on Monday)By Chris KenningJan 22 (Reuters) - Thousands of federal workers faced uncertainty about the status of their jobs and paychecks after U.S. Senate leaders failed to reach an agreement to end a government shutdown before the work week begins on Monday.Funding for federal agencies ran out at midnight on...Read More
• USD recovers early losses led by a government shutdown. • Surging US bond yields add to the downward pressure. • Fading safe-haven demand does little lend any support. Having posted a daily high near the $1336 region, gold came under some selling pressure and has now retreated back below $1330 level. The precious metal i...Read More
Mr. Nav Dhaliwal reportsBONTERRA EXPANDS EXPLORATION PROGRAM AT GLADIATOR GOLD DEPOSITBonterra Resources Inc.'s 2018 winter drilling program is under way at the Gladiator gold project. After completing more than 60,000 metres in 2017, the company plans to drill 30,000 metres during the winter drill program and more than 70,000 metres in 2018. The winter drilling program includes mobilizing two add...Read More
(Repeats with no change in text)By Amanda Becker and Richard CowanWASHINGTON, Jan 22 (Reuters) - Hundreds of thousands of federal workers will wake up on Monday with the U.S. government still shut down and the Senate expected to try again to restore federal funding, if only temporarily, and work on resolving a dispute over immigration.Amid uncertainty about whether federal employees should report...Read More
Mr. Brian Groves reports GENESIS DRILLING RETURNS 8.73 G/T GOLD OVER 21.35 M FROM CHEVRIER MAIN ZONEGenesis Metals Corp. has released results from the second phase of drilling completed at the Chevrier gold project near Chibougamau, Que.Highlights from main zone: 8.73 grams per tonne gold over 21.35 metres including 37.97 g/t Au over 3.00 m in hole GM-17-42;3.59 g/t Au over 22.60 m in a separate z...Read More
Rising mineral prices and the struggle to earn a living from agriculture have led to an "explosive growth" in global artisanal and small-scale mining (ASM) in the last few years, a new study published Monday shows.Artisanal and small-scale miners produce about 20% of the current global gold supply.According the report, produced by Canada's Intergovernmental Forum on Mining, Minerals, Metals and Su...Read More
REVIEW AND PREVIEW Gold prices rose half a percent (early) on Friday as the dollar labored near a three-year low amid heightened fears of a U.S. government shutdown, but the precious metal was still on track for its first weekly drop in six weeks. - Reuters, “Gold Up as Dollar Hurt by US Government Shutdown Fears,” January 19, 2018. Several stock markets of the world continued their su...Read More
Mining giant Rio Tinto (LON:RIO) is setting up a new office in Mongolia, independent from its massive Oyu Tolgoi copper and gold mine, which will focus on exploration and local links.The opening of the new unit, based in capital city Ulaanbaatar, shows Rio's vote of confidence in a nation that has recently been on Oyu Tolgoi's case.The new office, separate from Rio's presence in the Oyu Tolgoi m...Read More
Bob Moriarty ArchivesJan 22, 2018I used to travel 2/3rds of the time. Barbara hated it. I hated it. American Airlines loved me. I had so many air miles the Captain would invite me up to the cockpit to chat about the problems with the ILS 28 approach into Hong Kong and I had to fly every third leg.Eventually I realized that I had seen most of the mining districts in the world. I was visiting projec...Read More