Gold stocks Articles

S&P 500 down for fifth day as Apple, bank stocks fall

Wednesday November 14, 2018 14:05 / Kitco News

(Reuters) - U.S. stocks fell on Wednesday, with the S&P 500 dropping for the fifth session in a row, as Apple Inc (AAPL.O) continued to lead a retreat in technology stocks and financials were hit by fears that sector-wide regulations would no longer be eased.Mounting concerns that iPhone sales have hit a wall pushed Apple shares lower for the fifth day in a row. At their session low, shares we...Read More

Gold settles higher after recent downdraft, with inflation data, dollar action in focus

Nov 14, 2018 2:05 p.m. / Myra P. Saefong and Rachel Koning Beals

Gold prices settled higher on Wednesday, marking a modest reversal in selling action that had driven the metal down for seven sessions in the past eight. December gold GCZ8, -0.03% settled at $1,210.10 an ounce, up $8.70, or 0.7%. Tuesday's finish at $1,201.40 was the lowest for a most-active contract since Oct. 10, according to FactSet data. December silver SIZ8, +0.14% tacked on 10.3 cents, or...Read More

Ericsson doesn't see sales lift after security concerns hit Chinese rivals

Wednesday November 14, 2018 14:04 / Kitco News

BARCELONA (Reuters) - Telecom networks equipment maker Ericsson (ERICb.ST) said on Wednesday security concerns about its Chinese rivals and wider trade tensions had not translated into more orders for the Swedish firm’s products.Chief Executive Borje Ekholm also said his firm was investing in new technology for 5G networks to help boost its market share, particularly in China.“There is...Read More

Golden Ridge closes option deal with Barrick for 100% interest in Hank Project

Nov. 14, 2018, 1:51 PM / Editor

Golden Ridge Resources (TSX-V: GLDN) has completed its option agreement with Lac Properties Inc. (LAC), a subsidiary of Barrick Gold Corporation, and now has a 100% interest in the Hank project in British Columbia's Golden Triangle District.LAC will continue to hold a 2% NSR on the project as well as certain back-in rights. LAC has the option to purchase a 51% interest in the Hank Project upon a m...Read More

Conagra Options Premiums Explode After Downgrade

Nov 14, 2018 1:44 PM / Karee Venema

Bernstein pegged "troubling" trends at Pinnacle FoodsBernstein downgraded Conagra Brands Inc (NYSE:CAG) to "underperform" from "market perform," saying growth in frozen entrees "seems to be running out of steam." The brokerage firm also cited "troubling" trends at Pinnacle Foods, which Conagra bought earlier this year. In reaction, CAG stock is down 6.8% at $32.72 -- earlier hitting a new annual l...Read More

Wells Fargo turns positive on gold, here's how the firm sees it going

2018-11-14T08:33:05-0500 / Stephanie Landsman

Stephanie Landsman| @stephlandsmanPublished 11 Hours AgoUpdated10 Hours show chapters Wells Fargo turns bullish on gold, sees near-term gains    4:47PM ET Tue, 13 Nov 2018 |02:20 With gold trading around one-month lows, the Wells Fargo Investment Institute is getting bullish.John LaForge, the firm's head of real asset strategy, sees gold regaining its luster and deliv...Read More

Wells Fargo turns positive on gold, here's how the firm sees it going

2018-11-14T08:33:05-0500 / Stephanie Landsman

Stephanie Landsman| @stephlandsmanPublished 11 Hours AgoUpdated10 Hours show chapters Wells Fargo turns bullish on gold, sees near-term gains    4:47PM ET Tue, 13 Nov 2018 |02:20 With gold trading around one-month lows, the Wells Fargo Investment Institute is getting bullish.John LaForge, the firm's head of real asset strategy, sees gold regaining its luster and deliv...Read More

Euro, pound rise as trader eye Brexit, Italy

Wednesday November 14, 2018 13:08 / Kitco News

NEW YORK (Reuters) - The euro and sterling rose on Wednesday as traders monitor the latest developments between the European Union and Britain on the latter’s departure from the economic bloc, and the EU and Italy on the resubmission of the latter’s 2019 budget.Hopes the U.K. parliament would approve a draft accord for Brexit have bolstered the two currencies, while the euro has been b...Read More

A matter of volume: threat from ascendant Chinese phones hangs over Apple

Wednesday November 14, 2018 13:07 / Kitco News

SAN FRANCISCO (Reuters) - A raft of profit warnings from Apple Inc (AAPL.O) suppliers this week has fueled investor concerns that iPhone sales, in terms of volume, have hit a wall that could spell trouble for the company’s plans to make services its main pillar of growth.For the past year, investors had largely been willing to overlook stagnating unit sales of the iPhone because average sell...Read More

Sibanye-Stillwater signs three-year gold wage agreement with unions

Nov. 14, 2018, 1:04 PM / Editor

Sibanye-Stillwater (NYSE: SBGL) today announced it has concluded a three-year wage agreement with the National Union of Mineworkers (the NUM), Solidarity and UASA in respect of wages and conditions of service for the period of July 1, 2018 to June 30, 2021.The agreement allows for increases to the basic wage of Category 4-8 surface and underground employees. Miners, artisans and officials will rec...Read More

U.S. and four allies target tax-dodge specialists

Wednesday November 14, 2018 12:33 / Kitco News

LONDON (Reuters) - Tax enforcement agencies from the United States and four other countries are leading a crackdown on “professional enablers” of international tax fraud, the U.S. Internal Revenue Service head of criminal investigations said on Wednesday.The IRS, via an alliance with Britain, Australia, Canada and the Netherlands set up earlier this year, is pursuing individuals and fi...Read More

U.S. Postal Service loss triples, even as package deliveries rise

Wednesday November 14, 2018 12:30 / Kitco News

WASHINGTON (Reuters) - The U.S. Postal Service lost almost $4 billion in 2018 even as package deliveries rose, according to results released on Wednesday, giving U.S. President Donald Trump potential ammunition against Inc (AMZN.O), which he claims pays too little for the agency’s services.Trump, without presenting evidence, has attacked Amazon repeatedly over the past year, accus...Read More

Bank of Canada sees higher perceived risk to financial system

Wednesday November 14, 2018 12:08 / Kitco News

OTTAWA (Reuters) - The overall perceived risk to the Canadian financial system has increased slightly over the last six months but confidence in its resilience remains high, the Bank of Canada said on Wednesday.A six-monthly central bank survey of risk management professionals showed that 44 percent felt the chances of a high-impact event had grown slightly while 50 percent saw no change.Compared...Read More

U.S. to ease hazardous waste rules for airbag disposal

Wednesday November 14, 2018 12:08 / Kitco News

WASHINGTON (Reuters) - The U.S. Environmental Protection Agency said on Wednesday it will waive some hazardous waste regulations for auto dealers and businesses disposing of airbags, a decision designed to ensure proper disposal of potentially deadly Takata air bag inflators.Dealers will instead send airbag parts to a certified disposal facility that will then handle the airbags under hazardous wa...Read More

SNAP Stock Can't Shake Slump After Subpoenas

Nov 14, 2018 12:03 PM / Lillian Currens

Snapchat's parent company is struggling after DOJ and SEC subpoenasSnap Inc (NYSE:SNAP) continues to struggle after its Oct. 26 all-time low of $5.77, and is headed for another day of losses. The stock is down 1.9% to trade at $6.58 at last check, with SNAP pacing for another close beneath resistance at its 20-day moving average. This comes after the Snapchat parent announced, late Tuesday, that i...Read More

Downgraded Apple Drags Dow Into the Red

Nov 14, 2018 11:48 AM / Karee Venema

Oil, on the other hand, is headed for its first win in more than two weeksThe Dow Jones Industrial Average (DJI) was up more than 200 points earlier after this morning's latest inflation update. However, the blue-chip index has since swung into the red at midday, pressured by sharp losses for Apple (AAPL) following a fresh downgrade for the FAANG stock. The S&P 500 Index (SPX) and Nasdaq Composite...Read More

Critical Warning from Rogue Economist

Nov 14, 2018 11:33 AM / Dent Research Sponsored

Evidence of a looming financial crisis may be growing, according to Harry Dent.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and China's recent stock market decline - years before they happened - has issued a new earth-shattering statement:"The Dow is set to embark on a catastrophic plunge...all the way down to 6,000."Harry Dent recently explained: "Nations are de...Read More

Oil finds floor, stocks ease, sterling braces for wild swings

Wednesday November 14, 2018 11:27 / Kitco News

MILAN (Reuters) - Oil prices bounced from multi-month lows on Wednesday but stocks fell as disappointing data heightened worries over slowing global growth, while the pound wavered as Prime Minister Theresa May faced the hard task of selling her Brexit deal.European shares hit a two-week low after data showed the German economy contracted for the first time since 2015, tracking similar losses in A...Read More

Exclusive: Sears finalizing $350 million bankruptcy loan with Great American - sources

Wednesday November 14, 2018 11:27 / Kitco News

NEW YORK (Reuters) - Sears Holdings Corp (SHLDQ.PK) is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday.The deal increases an existing financing package from banks to give Sear...Read More

Kohl's Stock Could Catch a Lift Next Week

Nov 14, 2018 11:23 AM / Andrea Kramer

The stock tends to outperform the week of Black FridayKohl's Corporation (NYSE:KSS) stock is slightly lower today. However, the retail stock could rally to new heights in the short term, if recent history is any indicator. Specifically, KSS has been one of the best stocks to own during Thanksgiving week, looking back 10 years, and next week's earnings release could be the catalyst to send the equi...Read More