Gold stocks Articles

EMERGING MARKETS-Mexican peso hits 10-month high as Trump fears ease

Friday June 09, 2017 6:45 PM / Kitco News

(Recasts, adds closing prices throughout)SAO PAULO/MEXICO CITY, June 9 (Reuters) - Mexico's peso currency touched a near 10-month high on Friday and data on derivatives market bets showed investors have taken the most optimistic view on the currency in four years.The Mexican currency clawed its way back to levels last seen before Donald Trump was elected U.S. president as higher oil prices helped...Read More

U.S. tech stock selloff leaves investors eyeing end of rally

Friday June 09, 2017 6:16 PM / Kitco News

By Noel RandewichSAN FRANCISCO, June 9 (Reuters) - A steep drop in technology stocks on Friday, led by Apple's worst plunge in 14 months, has left investors concerned that a rally may be over for high-flying Silicon Valley names that have pushed Wall Street to record highs this year.The S&P 500 information technology index dropped 2.73 percent, with Apple , Amazon.com and Alphabet down more than 3...Read More

CANADA STOCKS-TSX rises, boosted by energy and financial shares

Friday June 09, 2017 5:52 PM / Kitco News

(Adds portfolio manager comment and details throughout, updates prices)* TSX ends up 50.12 points, or 0.32 percent, at 15,473.21* Energy rises nearly 2 percent, financials gain 1.1 percent* Just three of the TSX's 10 main groups end higher By Fergal SmithTORONTO, June 9 (Reuters) - Canada's benchmark stock index rose on Friday, led by financial and energy shares as oil prices gained and a strong...Read More

Gold Succumbs to Selling Pressure After Failing to Trade Above $1300

Friday June 09, 2017 16:55 / Kitco News

Gold had been trading dramatically higher from the recent low of $1215 achieved on May 9th. Over the last month, gold pricing had gained roughly $84, trading to a new yearly high on Tuesday when prices reached $1298 per ounce. This price point was a little over a dollar above the former yearly high achieved during the week of April 17th.However, Wednesday prices failed to breach $1300 as sellers e...Read More

Grand Prix, Dog Ban & McCain Confusion - Top Social Media Stories of the Week

Friday June 09, 2017 16:27 / Kitco News

(Kitco News) - Outside of what has happened in gold and other precious metals this week, there were a lot of global events that may have slipped through your radars.Aside from turmoil in the Middle East, a divide in the United Kingdom, and congressional drama in the United States, social media was flooded with posts and stories that are worth highlighting.Here's what you missed:A Diplomatic Crisis...Read More

GLOBAL MARKETS-British pound falls after UK election shock, dollar gains

Friday June 09, 2017 4:24 PM / Kitco News

(Adds close of U.S. markets)* British election sees government losing majority* Pound falls to two-month low around $1.27 in erratic trade* Wall Street hits new intra-day highs before paring most gains* Selloff in technology shares knocks Nasdaq, S&P 500 lower By Herbert LashNEW YORK, June 9 (Reuters) - The British pound fell to a seven-week low on Friday after a shock election result cast doubt...Read More

CANADA STOCKS-TSX rises on higher oil prices, robust jobs data

Friday June 09, 2017 4:19 PM / Kitco News

TORONTO, June 9 (Reuters) - Canada's benchmark stock index rose on Friday, led by financial and energy shares as oil prices rose and a stronger-than-expected domestic jobs gain added to the case for interest rate hikes from the Bank of Canada.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 50.12 points, or 0.32 percent, at 15,473.21. Just three of the index's 10 main in...Read More

Nasdaq Swept Away From Records on Brutal Surprise Tech Selloff - TheStreet

Jun 9, 2017 4:10 PM / Keris Alison Lahiff

A record close for the Nasdaq was in reach on Friday, June 9, until a swift and unexpected selloff in tech dragged the index from its heights. The tech-heavy index tumbled 1.8% for the day and 1.55% for the week, its worst performance since the week ended Dec. 16. The Nasdaq had hit an intraday record earlier in the session. The S&P 500 also stumbled into the red, falling 0.08%, though not as hi...Read More

Wolford shareholders look to sell majority stake

Friday June 09, 2017 4:00 PM / Kitco News

VIENNA, June 9 (Reuters) - The main shareholders of Austrian textiles company Wolford are looking to sell an undefined majority stake in the company, the group, which is in the process of restructuring to turn around its current loss-making business, said on Friday."WMP Familien-Privatstiftung, Sesam Privatstiftung and its subsidiary the M. Erthal & Co. Beteiligungsgesellschaft ... as well as rela...Read More

US STOCKS SNAPSHOT-Nasdaq stumbles as tech stocks sell off

Friday June 09, 2017 4:00 PM / Kitco News

NEW YORK, June 9 (Reuters) - Technology stocks sold off sharply on Friday, wounding the Nasdaq and holding down other major Wall Street indexes, which had touched record highs earlier in the session.The Dow Jones Industrial Average rose 89.44 points, or 0.42 percent, to 21,271.97, the S&P 500 lost 2.02 points, or 0.08 percent, to 2,431.77 and the Nasdaq Composite dropped 113.85 points, or 1.8 perc...Read More

DIARY - Today in Washington - June 12

Friday June 09, 2017 4:00 PM / Kitco News

ALL TIMES IN EDT/GMT -------------------------------------------------1100/1500: The USDA releases weekly U.S. export inspections for grains and oilseeds.1100/1500: The Treasury Department announces weekly sale of 4-week bills.1130/1530: The Treasury Department holds sale of 6-month bills and 3-year notes.1300/1700: The Treasury Department sells 3-month bills and 10-year notes.1400/1800: The Treas...Read More

WRAPUP 3-Canada's strong May jobs growth adds to case for interest rate hikes

Friday June 09, 2017 3:46 PM / Kitco News

(Updates on Statistics Canada website outage)By Leah SchnurrOTTAWA, June 9 (Reuters) - Canada's job growth accelerated in May at its fastest pace in eight months, and annual wage growth improved, prompting economists to suggest the Bank of Canada could raise interest rates sooner than anticipated.Employers added 54,500 jobs last month, Statistics Canada said on Friday, far exceeding forecasts for...Read More

U.S. dollar net longs rise in latest week -CFTC, Reuters data

Friday June 09, 2017 3:36 PM / Kitco News

NEW YORK, June 9 (Reuters) - Net long positions on the U.S. dollar increased in the latest week after two straight weeks of declines, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.The value of the dollar's net long position rose to $8.00 billion in the week ended June 6, from $7.53 billion the previous week.Euro net longs, meanwhile, rose to...Read More

The Gold Sector Continues to Confuse Participants

Friday June 09, 2017 15:24 / Kitco News

Earlierthis week, the gold sector appeared to be heading for a breakout after theminers had been lagging the gold price for the past three weeks. On Tuesday,June 6th, the miner sector finally decided to join the bullion partyand had a very nice upside move while gold raced toward the $1300 level.Thismove caught many by surprise as the highly publicized Van Eck Junior Miners Gold Index GDXJ rebalan...Read More

UPDATE 2-Brazil federal police raid JBS on insider trade probe, shares fall

Friday June 09, 2017 3:21 PM / Kitco News

(Recasts, adds comments by JBS, context)By Ana Mano and Paula LaierSAO PAULO, June 9 (Reuters) - Brazil's federal police on Friday raided the offices of JBS SA to investigate the alleged use of insider information in financial market dealings, pushing shares in the embattled meatpacker to a two-week low.Police said there were indications that JBS and controlling shareholder FB Participaes SA gain...Read More

TREASURIES -U.S. yields rise before debt auction, Fed meeting next week

Friday June 09, 2017 3:08 PM / Kitco News

* U.S. Treasury to hold 3-, 10-, 30-year debt auction next week* Little reaction from U.S. rates market after UK election, Comey* Fed widely seen raising rates next week (Adds comment, updates prices)By Gertrude Chavez-DreyfussNEW YORK, June 9 (Reuters) - U.S. Treasury long-dated yields rose to one-week highs on Friday as investors consolidated positions ahead of next week's government debt auctio...Read More

FOREX-Dollar gains as sterling falls on election shock

Friday June 09, 2017 3:03 PM / Kitco News

* Dollar index hits highest since May 30* British PM May falls short of parliamentary majority* C$ strengthens as strong jobs data builds case for rate hikes* Graphic: World FX rates in 2017 (Updates prices, market activity and comments to U.S. afternoon trading)By Saqib Iqbal AhmedNEW YORK, June 9 (Reuters) - The dollar rose against a basket of currencies on Friday, helped by a sharp drop in the...Read More

Gold, Bond Yields, And The Japanese Yen All Say There Are Problems

Jun.9, 20172:29 PM / D. H. Taylor

Japanese Yen, gold and Bond yields all move correlated.Bond yield moves lower suggest financial concerns lurk.Super Thursday has gotten small relief rally, but the bigger problem still lurks.Money is flowing. Currencies are moving, bonds are heading higher - yields falling, and gold is up. These moves are typically based upon risk-aversion. As investors "run for the hills", out of equities and int...Read More

Gold suffers first weekly loss in more than a month

June 9, 2017 2:15 p.m. / Myra P. Saefong and Mark DeCambre

Gold prices fell Friday to notch a third-straight decline and their first weekly drop in more than a month, despite a market fraught with the type of political drama that would ordinarily have offered a boost to precious metals. August gold GCQ7, -0.84% lost $8.10, or 0.6%, to settle at $1,271.40 an ounce-logging the longest skid since the three-session period ended May 5. The metal saw a weekly d...Read More

UPDATE 1-C$ options pricing may signal bad news for currency's bears

Friday June 09, 2017 2:10 PM / Kitco News

(Adds graphic)By Fergal SmithTORONTO, June 9 (Reuters) - The foreign exchange options market is showing much less risk of a sharp drop in the Canadian dollar than before last November's U.S. election, which could spell bad news for speculators who have heavily shorted the underperforming currency.Bearish bets on the loonie ramped up in May to a record high as Canada's largest alternative lender H...Read More