Gold’s technical posture on thecharts remains constructive, says Lukman Otunuga, research analyst atFXTM. The metal is modestly higher so far Thursday, helped by a softer U.S.dollar. “With the greenback somewhat shaky and still struggling to gain ground,gold is likely to remain supported moving forward,” Otunuga says. “Taking alook at the technical picture, the metal still...Read More
* Graphic: sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote By Jemima Kelly and Saikat ChatterjeeLONDON, Jan 11 (Reuters) - Sterling slipped to a one-week low against the euro on Thursday, as the single currency soared on talk that the European Central Bank could start to change its message of expansionary monetary policy in the coming...Read More
The U.S. stock market will be closed on Monday, Jan. 15, for Martin Luther King Jr. Day. If past is prologue, the S&P 500 Index (SPX) could be in for a rough holiday week, too. Below, we take a look at how the SPX tends to perform during MLK Week, and why buyers should beware blue-chip stock American Express Company (NYSE:AXP) ahead of earnings.S&P Struggles During MLK WeekSince 1998, the S&P has...Read More
(Kitco News) - Following are six elements working in favor of the gold marketbulls and that should continue to support upward price movement in the preciousmetal.RisingGovernment Bond Yields. A feature in the marketplace this week isrising world government bond yields (falling prices). This helped to hold backgains in global stock markets. Bloomberg news published a story Wednesday aboutthe Chines...Read More
* Euro gains after ECB minutes released* Dollar index weak after U.S. producer prices fall* Bitcoin slips on S.Korea plans to ban cryptocurrency trading (Updates prices and market activity to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Jan 11 (Reuters) - The euro jumped against the dollar on Thursday after the European Central Bank said it could revisit its co...Read More
Footwear stocks Foot Locker, Inc. (NYSE:FL) and Finish Line Inc (NASDAQ:FINL) are in the headlines today after the sector peers garnered some attention from analysts at Wells Fargo ahead of today's opening bell. Here's a closer look at how FL and FINL stocks are faring. Foot Locker Falls Despite Positive Analyst AttentionFL is down 0.7% to trade at $45.94 after Well Fargo upped its price target...Read More
With oil prices rising in recent months to multi-year highs, it's not surprising Chevron Corporation (NYSE:CVX) has been on a strong run since this past July. CVX shares have gained 23.6% in the past six months, and this morning touched a fresh three-year high of $129.95. Let's take a closer look at Chevron stock and this morning's brokerage attention below. BMO this morning upgraded the energy gi...Read More
(Adds detail, gives background)JOHANNESBURG, Jan 11 (Reuters) - One person was killed and part of South Africa's Royal Bafokeng Platinum's (RBPlat) conveyor belt was burnt during overnight protests at one of its shafts in the country's North West Province, the platinum producer said on Thursday.Social and labour violence, soaring costs and depressed world platinum prices have hurt South Africa's...Read More
(Kitco News)- Confusionand uncertainty reign in financial markets, helping gold prices rally in theface of higher bond yields, as traders continue to assess whether or not Chinawill continue to buy U.S. Treasuries. EarlyThursday, Chinese officials denied reports that the central bank is looking atslowing its U.S. bond purchases. According to reports, while the central bank is diversifying its f...Read More
Wal-Mart Stores Inc (NYSE:WMT) is making headlines this morning, after the blue chip announced it's raising its starting wage to $11 an hour, while giving other eligible full-time employees one-time cash bonuses. It also will be expanding maternity and parental leave benefits. The added benefits can be attributed to the tax law changes that were enacted last month. WMT stock has added 45% year-o...Read More
Xerox Corp (NYSE:XRX) is reportedly in talks to team up with Japanese camera maker Fujifilm Holdings. According to the Wall Street Journal, the copy specialist is under pressure from Carl Icahn -- its largest stakeholder -- to modernize, with the activist investor warning in an open letter to shareholders last December that XRX could end up like Eastman Kodak. And while the two companies have been...Read More
(Kitco News) - Pan American Silver Corp.(Nasdaq, TSX: PAAS), the world’s second-largestprimary silver producer, is projecting that its output of silver will climbover the next three years.Officials released productiondata showing fourth-quarter output of 6.6 million silver ounces and 43,700ounces of gold. This brings the full-year totals to 25 million ounces of silverand 160,000 ounces of go...Read More
Mid-tier Canadian miner B2Gold (TSX, NYSE:BTO) said Thursday it had achieved record fourth quarter and full-year output in 2017, thanks mainly to the start of commercial production at its Fekola mine, in south-western Mali.The Vancouver-based company, which poured its first gold at Fekola in November, produced 630,565 ounces of the yellow metal last year, a figure that includes the 79,243 ounces...Read More
Mid-tier Canadian miner B2Gold (TSX, NYSE:BTO) said Thursday it had achieved record fourth quarter and full-year output in 2017, thanks mainly to the start of commercial production at its Fekola mine, in south-western Mali.The Vancouver-based company, which poured its first gold at Fekola in November, produced 630,565 ounces of the yellow metal last year, a figure that includes the 79,243 ounces...Read More
* Gigaba under pressure to spark recovery, avoid downgrades* Economy emerged from recession but sill underperforming* Consumer, business confidence key to revival (Adds manufacturing figures, background)By Ed Stoddard and Mfuneko ToyanaEAST LONDON/JOHNANNESBURG, Jan 11 (Reuters) - South Africa's economy may grow 2 percent this year if the government takes needed policy decisions, Finance Minister...Read More
JOHANNESBURG, Jan 11 (Reuters) - South Africa's Royal Bafokeng Platinum (RBPlat) said one person was killed and a conveyor belt was burnt during overnight protests at one of the platinum producer's shafts in the country's North West Province."An individual within the crowd was shot and killed by live ammunition. Based on preliminary evidence, including video footage, it is believed that the s...Read More
The U.S. stock rally appears ready to resume today, with futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) above fair value. The benchmarks logged their first loss of 2018 yesterday, on reports China was considering scaling back its U.S. bond purchases, though Beijing has since dismissed the speculation as "fake news." While bank stocks appear ready for a positive session ahead of four...Read More
?>>?(Bloomberg) - The world's mining sector is firing on all cylinders again, and one of it's biggest investors can't wait to get paid.After five years of under-performance, a combination of synchronous global growth and under-investment in new supply has driven up commodity prices, increasing cash flow and profit margins for the world's biggest mining companies, according to BlackRock Inc.'s Evy...Read More
On Dec. 10, 1999, Amazon.com stock closed at $106 per share, a mind-blowing 67 times its price only 2 1/2 years earlier. Opinion articles in major newspapers declared there was no doubt that Amazon shares were in an irrational bubble. The disbelievers were right. Less than two years later, in September 2001, Amazon's AMZN, +1.78%share price had collapsed to $6. While many of Amazon's dot-com p...Read More
Yamana Gold Inc. (TSX: YRI; NYSE: AUY) says it topped guidance forgold and copper output in 2017. The company lists fourth-quarter preliminaryoutput of 259,000 ounces of gold, 1.17 million ounces of silver and 34 millionpounds of copper. For the full year, output included 977,000 ounces of gold, toppingguidance of 960,000; 5 million ounces of silver, roughly matching guidance; and127 million pound...Read More