Gold stocks Articles

UPDATE 4-FTSE Russell to exclude Snap from stock indexes over voting rights

Wednesday July 26, 2017 7:29 PM / Kitco News

(Updates to include Mulesoft declining to comment)By Ross Kerber and Noel RandewichBOSTON/SAN FRANCISCO, July 26 (Reuters) - FTSE Russell said on Wednesday it planned to exclude Snap Inc from its widely followed stock indexes because the owner of the Snapchat messaging app has an unusual share structure that denies voting rights to investors.The stock index provider said it made the decision base...Read More

EMERGING MARKETS-Mexican stocks dip while peso gains after Fed decision

Wednesday July 26, 2017 19:14 / Kitco News

(Updates prices, recasts with Mexico)By Bruno FederowskiSAO PAULO, July 26 (Reuters) - The Mexican stock exchange edged lower on Wednesday for the first time in five sessions while the country's peso currency extended gains after the U.S. Federal Reserve kept interest rates unchanged.The Fed kept its benchmark lending rate in a target range of 1.00 percent to 1.25 percent, which was expected.Mexic...Read More

Demand to rent UK commercial property falls to 5-year low - RICS

Wednesday July 26, 2017 7:01 PM / Kitco News

LONDON, July 27 (Reuters) - Demand to rent British commercial property levelled off for the first time in almost five years during the past three months, as online shopping hurt high-street retailers and Brexit and election worries unsettled other potential tenants.The Royal Institution of Chartered Surveyors said on Thursday that its gauge of commercial tenants' demand for property fell to -2 for...Read More

UPDATE 1-Canada's Goldcorp earnings beat analyst estimates, CFO to leave

Wednesday July 26, 2017 18:51 / Kitco News

(Rewrites with analyst expectations, improved cost forecast)VANCOUVER, July 26 (Reuters) - Canadian gold producer Goldcorp Inc reported better-than-expected earnings on Wednesday and lowered its forecast for costs this year, while also announcing that its chief financial officer, Russell Ball, would leave the company.Vancouver-based Goldcorp said Jason Attew, who is Goldcorp's senior vice preside...Read More

Fortescue's iron ore shipments come in just above guidance

Wednesday July 26, 2017 18:48 / Kitco News

SYDNEY, July 27 (Reuters) - Fortescue Metals Group shipped 170.3 million tonnes of iron ore in fiscal 2017, slightly beating its guidance of 165 million to 170 million tonnes.The world No. 4 iron ore miner expects to ship 170 million tonnes for the year to June 2018.Fourth quarter iron ore shipments rose 13 percent over the prior quarter to 44.7 million tonnes, Fortescue said. (Reporting by Susan...Read More

Agnico Eagle Posts 2Q Profit, Ups Output Guidance, Cuts Cost Forecast

Wednesday July 26, 2017 18:36 / Kitco News

Editor's Note: Kitco readers, have your say! Check out our newest feature - KITCO CHAT! - where you can share your comments and ask questions directly to us.(Kitco News)- Agnico Eagle MinesLtd. (NYSE, TSX: AEM) Wednesday reported a higher second-quarter profit whilerevising up 2017 production guidance and lowering the company's forecast forcosts.The senior mining companylisted April-June net incom...Read More

Fed Flake Spurs $1255 Gold, ViX Smash, New USD Lows

2017-07-26T18:25:18+00:00 / Soren K.Group

Unintended Consequences Grow.The Fed flaked today. It reversed its rhetoric as we thought it would, as Draghi portended last week. It is more worried about the lack of inflation than the employment situation. Translation: We are done raising, and we cannot unwind our balance sheets now. Europe bought stocks after Draghi's speech. Fund managers sold hedges today, The USD was crushed, and the rall...Read More

Gold Prices Supported By The Dead Cat Dollar

Jul. 26, 20176:16 PM / Bob Kirtley

The US Dollar is struggling and should it fall through the 92' level on the US Dollar Index, a rout could ensue which would further boost gold prices.The precious metals sector has done well to evade a fall through support at the $1200.00/oz mark and is starting to put in some reasonable gains.This sector of the market doesn't usually sparkle during the summer months which make it a good time to a...Read More

Mexico's first publicly listed oil company set for August debut

Wednesday July 26, 2017 18:14 / Kitco News

By Sheky EspejoMEXICO CITY, July 26 (Reuters) - Vista Oil & Gas, with backing from private equity firm Riverstone Capital, will launch an initial public offering (IPO) on Mexico's stock exchange on Aug. 11, according to three sources with knowledge of the deal and a document seen by Reuters. The IPO would mark the entry into Mexico's stock exchange of the country's first publicly traded oil compan...Read More

Australia shares expected to open steady, NZ flat

Wednesday July 26, 2017 6:12 PM / Kitco News

July 27 (Reuters) - Australian shares are expected to trade sideways on Thursday, as steady commodity prices will most likely fail to boost sentiment dampened by disappointing inflation data.Data showed Australian consumer prices were surprisingly lower last quarter and the core inflation rate stayed below target for a sixth straight quarter, thus lowering the likelihood of an interest rate hike a...Read More

Relatively Soon

Wednesday July 26, 2017 18:08 / Kitco News

Editor's Note: Kitco readers, have your say! Check out our newest feature - KITCO CHAT! - where you can share your comments and ask questions directly to us.In a statement released by the Federal Reserve today,members said they would, as expected, leave the current Federal Funds rateunchanged. "The Committee continues to expectthat, with gradual adjustments in the stance of monetary policy, econom...Read More

Goldcorp Reverses To Profit In 2Q, Cuts Cost Guidance

Wednesday July 26, 2017 18:03 / Kitco News

Editor's Note: Kitco readers, have your say! Check out our newest feature - KITCO CHAT! - where you can share your comments and ask questions directly to us.(Kitco News) - Goldcorp Inc. (TSX: G, NYSE: GG)flipped to a profit in the second quarter and trimmed its guidance for costs in2017.The company late Wednesdaylisted net earningsof $135 million, or 16 cents per share, for the April-June period....Read More

Barrick's 2Q Adjusted Profit Rises On Higher Output, Lower Costs

Wednesday July 26, 2017 17:58 / Kitco News

Editor's Note: Kitco readers, have your say! Check out our newest feature - KITCO CHAT! - where you can share your comments and ask questions directly to us.(Kitco News)- Barrick Gold Corp. (NYSE, TSX: ABX) Wednesday reported a65% rise in its adjusted profit during the second quarter, helped by the combinationof increased gold production and lower costs.The company also paid down another $309 mill...Read More

UPDATE 2-Barrick says will start Tanzania talks next week as earnings beat

Wednesday July 26, 2017 17:39 / Kitco News

(Adds Barrick comments, production data, background on Tanzania ban)By Nicole MordantJuly 26 (Reuters) - Barrick Gold Corp , the world's largest gold miner by production, reported better-than-expected quarterly earnings on Wednesday as its mining costs fell and said it would begin talks with the Tanzanian government next week about an export ban. Barrick subsidiary Acacia Mining has three mines i...Read More

UPDATE 1-Asia Morning Call-Global Markets

Wednesday July 26, 2017 5:37 PM / Kitco News

July 27 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,776.62550.003NZX 50**7,710.59 -2.47DJIA**21,711.0197.58 NIKKEI**20,050.1694.96Nasdaq**6,422.74710.573FTSE**7,452.32 17.50S&P 500** 2,477.83 0.70Hang Seng** 26,941.0288.97SPI 200 Fut 5,7170.00STI** 3,336.72 8.89SSEC**3,247.5834 3.89KOSPI** 2434.51-5.39-----------------------------------------------------------------------...Read More

Stock market ends at record on robust earnings as Fed issues policy update

July 26, 2017 5:33 p.m. / Sue Chang and Victor Reklaitis

iStockphotoThe Federal Reserve kept interest rates unchanged as was widely expected. U.S. stock-market benchmarks on Wednesday finished modestly higher, with all three gauges recording all-time highs, supported by better-than-expected corporate results, and as the Federal Reserve offered an update to its monetary-policy outlook. The Dow Jones Industrial Average DJIA, +0.45% advanced 97.58 points,...Read More

CANADA STOCKS-TSX slips as banks pull back post-Fed and CN Rail falls

Wednesday July 26, 2017 5:28 PM / Kitco News

(Adds portfolio manager comment, updates prices to close)* TSX ends down 30.98 points, or 0.2 percent, to 15,171.39.* Half of the TSX's 10 main groups move higher* Advancers and decliners evenly matched By Alastair SharpTORONTO, July 26 (Reuters) - Canada's main stock index slipped on Wednesday, as financial stocks fell after the U.S. Federal Reserve held its interest rates steady and as investo...Read More

UPDATE 2-Brazil cuts rates to near four-year low, may continue easing pace

Wednesday July 26, 2017 17:18 / Kitco News

(Adds analyst comment, background on interest rates)By Silvio CascioneBRASILIA, July 26 (Reuters) - Brazil's central bank cut interest rates below 10 percent for the first time since 2013 on Wednesday and signaled it could keep up its pace of easing as plunging inflation gives it leeway to aid an incipient recovery.The bank's nine-member monetary policy committee, known as Copom, cut its benchmar...Read More

UPDATE 1-Trump's nominee for Fed says banking rules need 'refinements'

Wednesday July 26, 2017 17:13 / Kitco News

(Adds background on Quarles)By Pete Schroeder and Patrick RuckerWASHINGTON, July 26 (Reuters) - U.S. banking rules must protect the financial system but they need "some refinement," President Donald Trump's nominee for the Federal Reserve's top regulatory post told lawmakers on Wednesday."As with any complex undertaking, after the first wave of reform, and with the benefit of experience and refle...Read More

Barrick profit jumps on gains from sales of mine, project stakes

Wednesday July 26, 2017 5:10 PM / Kitco News

VANCOUVER, July 26 (Reuters) - Barrick Gold Corp , the world's largest gold miner by production, reported a big jump in second-quarter profit on Wednesday, reflecting gains related to the sales of stakes in its Veladero gold mine in Argentina and a project in Chile.The Toronto-based miner said net earnings for the quarter ended June 30 surged to $1.08 billion, or 93 cents a share, from net profit...Read More