Gold's explosive rally over the last couple of trading sessions is unlikely to continue. That's because the rally is not built on a solid sentiment foundation. Instead of beginning against a backdrop of widespread pessimism and investor despair, this rally began when the mood among gold market-timers was already surprisingly upbeat. According to contrarian analysis, this means that the current ral...Read More
(Reuters) - Brian Small will step down as chief financial officer of JD Sports (JD.L) after almost 15 years in the role, Britain’s biggest sportswear retailer said on Tuesday.Small will be replaced by Neil Greenhalgh who has the current role of group finance director, it added. Like Small, he joined the company in 2004.“The Board is delighted that a planned succession has been achieved...Read More
WASHINGTON (Reuters) - The U.S. government closed the 2018 fiscal year $779 billion in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department.New government spending also expanded the federal deficit for the 12 months through September, the first full annual...Read More
(Reuters) - Walmart Inc (WMT.N) lowered its earnings forecast for the year on Tuesday and said its e-commerce growth next year would be slower than the current fiscal year that ends in January, sending its shares down in premarket trading.Walmart’s earnings next year will be eroded by its acquisition of Indian e-commerce firm Flipkart in May for $16 billion, its largest-ever deal, in order t...Read More
BERLIN, Oct 16 (Reuters) - Germany’s economic outlook is clouded by an escalating trade dispute between the United States and China and by the growing threat of Britain crashing out of the European Union without a divorce deal, the ZEW institite said on Tuesday.“Expectations for the German economy are dampening above all due to the intensifying trade dispute between the USA and China,&...Read More
Brazil's mining giant Vale (NYSE:VALE), the world's No.1 iron ore and nickel producer, has ruled out any major acquisitions in the short-term and said it would only invest further in nickel if global prices for the metal improve.Speaking at the FT Commodities Global Summit in Rio de Janeiro on Tuesday, Vale chief executive Fabio Schvartsman said the company would only consider developing its gian...Read More
* Tria backing boosts hopes he will stay on in govt* Italian yields down 6-16 bps across the board* Italy/Germany yield spread tightens to 292 bps* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates pricing, adds quotes and results of Finland auction, ZEW survey)By Abhinav Ramnarayan and Virginia FurnessLONDON, Oct 16 (Reuters) - Italian government bond yields dropped across the boa...Read More
Corporate earnings so far today have been strongDow Jones Industrial Average (DJIA) futures are trading comfortably above fair value, as stocks eye a move higher out of the gate. A strong round of corporate earnings could help equities bounce back from yesterday's risk-off session, with Dow components Goldman Sachs (GS) and Johnson & Johnson (JNJ) both reporting earnings beats. Tech stocks will be...Read More
(Reuters) - U.S. stock futures signaled a slight recovery on Tuesday, as upbeat earnings reports from Morgan Stanley and UnitedHealth among others helped ease jitters over the impact of various global issues on corporate profits.Shares of Morgan Stanley (MS.N) rose 2.1 percent premarket after reporting a 19 percent increase in quarterly profit, with strong performance in its equities trading busin...Read More
The metals continue to hold theirground at higher levels; gold managed to hold $1,230 and silver $14.65. Allsigns point to higher prices, with both metals approaching key decision pointsonce again.The numbers to watch are $1,240 forgold and $14.80 for silver. A break above will be considered another breakoutand more than likely lead to a continuation of this rally while buildingstrength underneath...Read More
(Kitco News)- Gold continues to garner bids as macro fundamentals continueto favor the upside risk. Uncertainties surrounding global trade, the Italianbudget, Brexit and the upcoming mid-term elections in the U.S. have the globalfinancial markets on edge. Although the equity market has somewhat stabilized,we are still over 1,000 points away from last week's high. The market remainsnet short and fu...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
MELBOURNE/LONDON (Reuters) - The world’s biggest miner BHP nearly doubled its stake in SolGold Plc on Tuesday, vying for position with top shareholder Newcrest Mining as it eyes SolGold’s promising Cascabel copper-gold project in Ecuador.Under the deal, BHP will pay SolGold 45 million pounds ($59 million) for 100 million new shares in the company at a 28 percent premium to the stock&rs...Read More
Alio Gold Inc. (TSX, NYSE American: ALO) has agreed to sell non-core assetsin Nevada to Coeur Rochester, Inc., a subsidiary of Coeur Mining, Inc., for $19million payable in shares of Coeur common stock. The assets being sold includethe Lincoln Hill project, Wilco project, Gold Ridge property and other nearbyclaims. Alio also says it reduced its outstanding debt with Macquarie Bank Ltd.from $1...Read More
Alio Gold Inc. (TSX, NYSE American: ALO) has agreed to sell non-core assets in Nevada to Coeur Rochester, Inc., a subsidiary of Coeur Mining, Inc., for $19 million payable in shares of Coeur common stock. The assets being sold include the Lincoln Hill project, Wilco project, Gold Ridge property and other nearby claims. Alio also says it reduced its outstanding debt with Macquarie Bank Ltd. fr...Read More
(Kitco News) - Gold prices aremodestly up and not far below Monday’s 10-week high in early U.S. trading Tuesday.The near-term technical posture for the yellow metal has dramatically improvedthe past few sessions, which continues to invite the chart-based buyers. Also,the recent volatility in world stock markets and some heightened geopoliticaltensions are continuing to provide some demand f...Read More
(Kitco News) - Gold continues to garner bids as macro fundamentals continue to favor the upside risk. Uncertainties surrounding global trade, the Italian budget, Brexit and the upcoming mid-term elections in the U.S. have the global financial markets on edge. Although the equity market has somewhat stabilized, we are still over 1,000 points away from last week's high. The market remains net short...Read More
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.Every American needs to learn how to protect and secure their retirement against the worst stock market crash in history, and this IRA/401KInvestment Guide 2018 is one way the average American can help protect their investments in the event of a crisis.Jim Rickards is the nation's most vocal and intelligen...Read More
The metals continue to hold their ground at higher levels; gold managed to hold $1,230 and silver $14.65. All signs point to higher prices, with both metals approaching key decision points once again. The numbers to watch are $1,240 for gold and $14.80 for silver. A break above will be considered another breakout and more than likely lead to a continuation of this rally while building strength und...Read More