(Kitco News) - Gold prices aremoderately higher in early U.S. trading Friday, on more safe-haven buying aheadof a likely volatile trading session in the U.S. stock market, and an uncertainweekend on the geopolitical front. December gold futures were last up $3.00 anounce at $1,235.00. December Comex silver was last down $0.005 at $14.625 anounce. TheU.S. economic highlight this week is this mornin...Read More
(Kitco News)- Gold held a slight gain but moved little after a government report Friday showedthat U.S. gross domestic product rose by a seasonally adjusted annual rateof 3.5% in the third quarter.Thiswas the government’s first estimate of economic growth for theJuly-September quarter, showing that growth slowed some from 4.2% in the secondquarter. Consensus forecasts compiled by n...Read More
(Kitco News) - Gold held a slight gain but moved little after a government report Friday showed that U.S. gross domestic product rose by a seasonally adjusted annual rate of 3.5% in the third quarter.This was the government’s first estimate of economic growth for the July-September quarter, showing that growth slowed some from 4.2% in the second quarter. Consensus forecasts compil...Read More
LONDON, Oct 26 (Reuters) - Euro zone money markets have pushed back rate hike expectations, and are now only fully pricing in a 10 basis point rate hike from the European Central Bank for December 2019.They had been fully pricing in a hike for October 2019 on Monday.In addition, money market pricing suggests that investors are now only pricing in a 50 percent chance of a 10 basis point rate hike i...Read More
LONDON (Reuters) - Oil prices dropped more than 1 percent on Friday, heading for a third weekly loss after Saudi Arabia warned of oversupply, while a slump in stock markets and concerns about trade clouded the outlook for fuel demand.Brent crude oil LCOc1 fell $1.12 to a low of $75.77 per barrel and was trading around $78.84, down $1.05, by 0950 GMT. The contract is on course for a weekly loss of...Read More
(Reuters) - U.S. quarterly earnings reports this month were supposed to give investors clarity about the health of Wall Street’s rally this year.Instead, profit reports and forecasts following the most recent three months are giving investors indigestion as companies send unclear messages about the rising cost of goods and labor.“I don’t understand why people are so hesitant to a...Read More
* Bund yields edge lower as stock markets tank again* Money markets push back rate hike expectations to Dec 19* Italian short-dated yields higher ahead of S&P review* Euro zone inflation expectations nearly lowest in a year* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates pricing)By Abhinav RamnarayanLONDON, Oct 26 (Reuters) - German borrowing costs hit a six-week low as pess...Read More
* Nikkei, Topix post biggest weekly drop since early February* Canon falls to lowest level since Feb 2017 on forecast cut* Mazda Motor drops after media report on new NAFTA rulesBy Hideyuki Sano and Ayai TomisawaTOKYO, Oct 26 (Reuters) - Japanese shares posted their biggest weekly loss in more than eight months on growing worries over earnings of domestic firms, with camera maker Canon disappointi...Read More
TORONTO (Reuters) - Barrick Gold Corp (ABX.TO) could have nine of the world’s top gold mines in a relatively short time under its $6.1 billion acquisition of African miner Randgold Resources Ltd (RRS.L), Barrick Executive Chairman John Thornton said Thursday.Barrick and Randgold will focus on Tier 1 assets, ones that produce 500,000 ounces of gold annually, have a mine life of more than 10 y...Read More
MIAMI (Reuters) - Federal authorities investigating the pipe bombs sent to prominent Democrats and critics of U.S. President Donald Trump are focusing on Florida, where they believe at least some of 10 packages originated.A police bomb squad and canine units joined federal investigators on Thursday to examine a sprawling U.S. mail distribution center at Opa-Locka, northwest of Miami, Miami-Dade Co...Read More
DUBAI/ISTANBUL (Reuters) - Saudi Arabia’s public prosecutor said on Thursday the murder of journalist Jamal Khashoggi in the kingdom’s Istanbul consulate this month was premeditated, reversing previous official statements that the killing was unintended.The death of Khashoggi, a Washington Post columnist and critic of de facto Saudi ruler Crown Prince Mohammed bin Salman, has sparked g...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
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
Thursday gold was relatively flat, but the miners got crushed. For some reason, the gold bears decided to sell the miners like they were going to zero. Once again, it looks like the aggressive selling was a huge mistake. None of the miners were safe, with most falling 5% to 10%. It appeared that the sellers were chasing the short-covering dead-cat bounce in equities. In the pre-market this morning...Read More
Thursday gold was relativelyflat, but the miners got crushed. For some reason, the gold bears decided tosell the miners like they were going to zero. Once again, it looks like theaggressive selling was a huge mistake.None of the miners were safe,with most falling 5% to 10%. It appeared that the sellers were chasing theshort-covering dead-cat bounce in equities. In the pre-market this morning, them...Read More
(Kitco News)- Yamana Gold Inc. (TSX: YRI; NYSE: AUY) late Thursday reported a dip inits third-quarter profit but hiked guidance for gold and copper production infull-year 2018.The company also announced an agreement to sell itsinterest in the Gualcamayo mine in Argentina to Colombia-based Mineros S.A.Excluding specialitems, adjusted earnings were $23.6 million, or 2 cents per share, compared to$29...Read More
(Kitco News) - Yamana Gold Inc. (TSX: YRI; NYSE: AUY) late Thursday reported a dip in its third-quarter profit but hiked guidance for gold and copper production in full-year 2018.The company also announced an agreement to sell its interest in the Gualcamayo mine in Argentina to Colombia-based Mineros S.A.Excluding special items, adjusted earnings were $23.6 million, or 2 cents per share, compared...Read More
(Kitco News)- SocieteGenerale is “cautiously bullish” on gold prices, looking for the metal toaverage $1,250 an ounce in the fourth quarter and $1,275 in the first quarterand for all of 2019.Thebank released an updated forecast Thursday ahead of next week’s gathering ofthe London Bullion Market Association. The bank said its outlook has notchanged materially since the one issued...Read More
(Kitco News) - Societe Generale is “cautiously bullish” on gold prices, looking for the metal to average $1,250 an ounce in the fourth quarter and $1,275 in the first quarter and for all of 2019.The bank released an updated forecast Thursday ahead of next week’s gathering of the London Bullion Market Association. The bank said its outlook has not changed materially since the one...Read More
SASKATCHEWAN - Star Diamond Corp. (TSX: DIAM), formerly Shore Gold, has received approval for the Star-Orion South diamond project from the provincial Minister of environment. The project is located near Fort a la Corne, in the central part of the province.The federal environment assessment agency announced its positive decision in December 2014. Additional permit approvals from the provincial a...Read More