While it's pulled back a bit since New Year, the price of copper ended 2017 near a four-year high of $3.30 a pound ($7,260 per tonne) extending the bull run in the red metal for a second year. Measured from its multi-year lows struck at the beginning of 2016, copper has gained more than 70% in value.The rally for zinc has been even more spectacular with the metal, mainly used to galvanize steel, e...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage (Kitco News)- "Steadyas she goes" will be the best way to describe the gold market in 2018 with themarket sensitive to upside surprises, according to researchers at Murenbeeld& Co.Chantelle Schieven Head of research at Murenbeeld & Co In aninterview with Kitco News, Chantelle Schieven, head of research at the firm,said that h...Read More
(Kitco News) - News that billionaire entrepreneur Peter Thiel’s Founders Fund bought “hundreds of millions of dollars” in cryptos, boosted bitcoin’s deflating price levels on Wednesday.Thiel’s fund purchased somewhere between $15 million to $20 million worth of digital currencies since mid-2017, the Wall Street Journal reported.Following the news, bitcoin prices surge...Read More
(Kitco News) - News that billionaire entrepreneur Peter Thiel’s Founders Fund bought “hundreds of millions of dollars” in cryptos, boosted bitcoin’s deflating price levels on Wednesday.Thiel’s fund purchased somewhere between $15 million to $20 million worth of digital currencies since mid-2017, the Wall Street Journal reported.Following the news, bitcoin prices surge...Read More
WINNIPEG, Manitoba/CALGARY, Alberta, Jan 3 (Reuters) - Suncor Energy Inc said on Wednesday it and Teck Resources Ltd have taken higher stakes in the Fort Hills oil sands mine from partner Total SA, resolving a dispute over building costs.Under terms of the deal, Suncor and Teck will fund more of the C$17 billion ($13.56 billion) project's capital cost - C$300 million and C$120 million more respect...Read More
LONDON, Dec 22 (Reuters) - A little bit of metals history was recorded on March 29 this year.The small Central American country of El Salvador became the first nation to ban all exploration, mining and processing of metals.Don't worry if you didn't notice. El Salvador doesn't have any operating mines. It was going to have a gold mine, but in a public debate pitting economic growth against clean wa...Read More
WANdisco PLC (LON:WAND) shares were strong in late afternoon trading, jumping nearly 10% higher to 626p on news the firm has secured a record contract for its live data platform with a "world-leading" financial institution.The AIM listed group said the contract is worth US$4.3mln in royalties to the company, and will see it deploy its WANdisco Fusion platform to the client.The company said the con...Read More
Getty ImagesFederal Reserve Chair Janet Yellen leaves after her last news conference in the leadership role on December 13. The Federal Reserve in December forecast three rate hikes in 2018 but minutes of that central bank meeting released Wednesday show a distinct lack of unity with the projection. The minutes portray two camps, of roughly the same size, who are both uncomfortable with the foreca...Read More
Brokerage firm SunTrust Robinson weighed in bullishly on the restaurant sector today, saying it expects tax reform to provide tailwinds for the group. Included in the note was a price-target hike for burger chain Shake Shack Inc (NYSE:SHAK) to $60 from $50. SHAK stock has added 7.6% as a result to trade at $47.01, earlier hitting a two-year high of $47.39. However, options traders are seemingly b...Read More
Corning Incorporated (NYSE:GLW) has started 2018 off hot, up almost 4% already, and touching a nearly 17-year high of $33.10 earlier today. It appears this rally might have legs, too, with the iPhone glass manufacturer sending up a buy signal to short-term options traders right now.At last check, Corning stock was trading near its session highs -- up 1.9% at $33.22. The equity has tacked on an imp...Read More
* Stock markets globally start 2018 on cheerful note* S&P cruises past 2,700 as tech stocks advance* Dollar up after strong U.S. data, ahead of Fed minutes (Updates with reaction to Fed minutes; adds commentary)By Stephanie KellyNEW YORK, Jan 3 (Reuters) - The U.S. dollar extended gains against key currencies on Wednesday after the release of minutes from last month's Federal Reserve meeting,...Read More
Editor's Note: Carley Garner, president of DeCarley Trading, provided exclusive commentary for Kitco News' 2018 Outlook Series.(Kitco News)- Gold and silver have taken a backseat to Bitcoin-mania,but they are still more relevant assets.Carley Garner, president of DeCarley Trading Bitcoin has dominated the financial news cycle, but inthe long run, this particularcryptocurrency might be more bark th...Read More
Gold rose for a ninth consecutive session Wednesday, settling at its highest since the middle of September, with haven demand for the precious metal supporting prices even as a bruised dollar strengthened. Prices, however, retreated in electronic trading after the release of minutes from the U.S. Federal Reserve's December monetary policy meeting. February gold GCG8, -0.64% rose $2.40, or 0.2%, t...Read More
As the U.S. stock market carves out record highs, several individual equities are making big moves on high-profile collaborative partnerships. Two such names are former smartphone maker BlackBerry Ltd (NYSE:BB) and gene therapy specialist Sangamo Therapeutics Inc (NASDAQ:SGMO). Here's a closer look at what has shares of BB and SGMO gapping higher today.BlackBerry Shorts Could Continue CoveringBlac...Read More
(Kitco News) - Gold prices were moderately lower and hit new daily lows in early afternoon action Wednesday,in the wake of a hawkish FOMC minutes report. Some normal profit taking by theshorter-term futures traders was featured, after recent good gains in gold andsilver. The markets in earlier U.S. trading were in pause modes after gold hita 3.5-month high overnight. Silver prices scored a five-we...Read More
(Kitco News) - Gold prices were moderately lower and hit new daily lows in early afternoon action Wednesday, in the wake of a hawkish FOMC minutes report. Some normal profit taking by the shorter-term futures traders was featured, after recent good gains in gold and silver. The markets in earlier U.S. trading were in pause modes after gold hit a 3.5-month high overnight. Silver prices scored a fiv...Read More
(Kitco News)- The gold market has pushed into negative territory inlate-afternoon activity after the minutes of the December Federal Open MarketCommittee meeting revealed ongoing concerns over low inflation pressures.While the majority of participants supported a rate hike inDecember, the minutes showed a growing divide within the committee and frustrationover the mystery of low inflation. The Min...Read More
(Kitco News) - The gold market has pushed into negative territory in late-afternoon activity after the minutes of the December Federal Open Market Committee meeting revealed ongoing concerns over low inflation pressures.While the majority of participants supported a rate hike in December, the minutes showed a growing divide within the committee and frustration over the mystery of low inflation. Th...Read More
Mike van Dulken, Head of Research at Accendo Markets talks us through retail giant Next's Christmas sales figures and explains why investors have had such a rollercoaster ride over recent times. We chat about bricks and mortar operations versus online sales and try to peer into the marketplace crystal ball for Next's upcoming Jan sales and indeed the end of year results, due in March. Meet C...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage(Kitco News) - Gold’s performance since the last Federal Reserve rate hike in December has been impressive and Bloomberg Intelligence forecasts the rally to continue, with the precious metal looking to beat bitcoin and the U.S. dollar in 2018.“The only currency not subject to parabolic supply increases - gold - should continue t...Read More