MOSCOW, Feb 15 (Reuters) - Russia's largest gold producer Polyus sold more gold last year to Otkritie bank, which was rescued last August by the country's central bank, Polyus's 2017 management report showed on Thursday.Russian gold producers usually sell their product to Russian banks which then sell it on to the central bank or export it. The biggest players in this market are Russia's two large...Read More
Mr. Darin Wagner reportsBALMORAL COMMENCES WINTER DRILL PROGRAM ON MARTINIERE GOLD PROPERTY AND PROVIDES CORPORATE UPDATEBalmoral Resources Ltd.'s winter 2018 drill program on its Martiniere gold property in Quebec is under way, and visible gold mineralization has been intersected in the first hole of the program. This first hole targeted the down-plunge extension of the recently discovered, near-...Read More
TORONTO, Feb 15 (Reuters) - Barrick Gold , the world's largest producer of gold, said on Thursday that it expects the U.S. tax reform to result in a net positive adjustment of approximately $200 million.Barrick also said it intends to exercise its shareholder rights in any vote after a resolution is reached between its Acacia Mining unit and Tanzania. Chief Operating Officer Richard Williams had b...Read More
Canadian miner Kinross Gold (TSX:G) (NYSE:KGC) has moved to secure low-cost power supply for its Paracatu mine, Brazil's largest gold mine, by buying two hydroelectric plants for $257 million.With the acquisition of two hydroelectric plants, it expects to eliminate about 70% of future power purchases.The Toronto-based miner said the acquisition of Barra dos Coqueiros and Cacu hydro power plants,...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
EURUSD The market is trading along an uptrend with target on 1.2530, that may be expected to continue, while market is trading above support level 1.2450.An downtrend will start as soon, as the market drops below support level 1.2450, which will be followed by a move down to support level 1.2378. GOLD The uptrend may be expected to continue in case the market rises above resistance level 1358,...Read More
Rising mineral prices and the increasing difficulties to earn a living from agriculture, have led to an explosive growth in global artisanal and small-scale mining (ASM) in the last few years.The activity is emerging as an significant socio-economic sector in a number of developing nations, to the point it has become a major of revenue for millions of people in about 80 countries worldwide - mostl...Read More
Canadian explorer Argo Gold (CSE: ARQ) said Thursday that is selling its South Wawa gold property to RT Minerals Corp. (TSX-V:RTM) for consideration of 350,000 common shares of the Vancouver-based junior miner.The property consists of two mineral claims totalling 16 units or 256 hectares located roughly 10 km south of the town of Wawa, in Ontario.When Argo acquired South Wawa, the asset had not b...Read More
The Indonesian unit of Freeport-McMoRan Inc and fellow copper miner Amman Mineral Nusa Tenggara (AMNT) are waiting for last-minute mining ministry approvals to their applications to extend copper concentrate exports, company officials said.Freeport's export permit for Grasberg, the world's second-biggest copper mine, is due to expire on Friday, as is Amman's permit to ship ore concentrate from its...Read More
Gold prices were on fire Wednesday, rebounding from losses made in the wake of stronger than expected U.S. inflation data. Kitco News caught up with Maxwell Gold of ETF Securities. "What sparked gold's price move today is the increase in inflation. I think that is boosting inflation expectations, and I think that's giving some consideration into what the Fed is going to do this year," Gold told K...Read More
Pickup in inflation isn't seen as sign of rapid accelerationJob market, tax cuts likely to support consumer spendingU.S. Consumer Prices Rise More Than Expected in JanuaryFaster-than-projected U.S. inflation and an unexpected decline in retail sales at the start of the year may cause some indigestion on Wall Street, but probably don’t mean much pain for the economy.The core consumer pr...Read More
Core gauge advances 0.3% from prior month, above projectionsApparel index rises 1.7%, most in almost three decadesNathan Sheets of PGIM, Michael Ashton of Enduring Investments and Bloomberg's Mike McKee look at inflation.U.S. consumer prices rose by more than projected in January as apparel costs jumped the most in nearly three decades. The report sent Treasuries and stocks tumbling, as it added t...Read More
Stake in SPDR Gold rises to 3.91 million shares, filing showsHedge fund boosts stake in Newmont, cuts position in BarrickDalio's Bridgewater Boosts Holdings in GoldBillionaire hedge fund manager Ray Dalio boosted his holdings in the two largest gold-backed ETFs last quarter before prices of the metal capped the biggest annual gain in seven years.As of the end of December, Dalio’s Bridg...Read More
Renewed safe-haven demand on the back of a weaker U.S. dollar has helped boost gold's technical momentum and some analysts see the potential for higher prices in the near-term. According to some analysts, gold's newfound momentum has helped the gold market break bearish technical as the price action was forming a short-term head and shoulders pattern. Officially the pattern isn't broken until pr...Read More
Home Prices Hit Records in Almost Two-Thirds of U.S. CitiesBy Prashant Gopal@mrgopalMore stories by Prashant GopalRead More
Here Are 5 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average, S&P 500 and Nasdaq posted their fourth straight day of gains.The Dow has added more than 1,000 points from Friday to Wednesday.Big gainers on Wednesday included Chipotle Mexican Grill, Fossil Group and Nektar Therapeutics.The Consumer Price Index rose 0.5% in January, the strongest monthly increa...Read More
Remember the days (about six months ago) when bitcoin was going to revolutionize banking and disintermediate the mean nasty "banksters?"Well, a funny thing happened on the way to the revolution. Bitcoin itself has hit an air pocket with a 50% price drop since December. Meanwhile, the banks that were supposed to be so dramatically disrupted by bitcoin are taking over the blockchain.This is not surp...Read More
With everything that's been happening with the stock market lately, people have forgotten about last year's biggest investment story:Bitcoin.After briefly topping off around $20,000 in December, today it's trading around $9,000.A lot of bad news has come to the bitcoin ecosphere. China, for example, recently ordered its banks to stop providing financial services for any cryptocurrency-related tran...Read More
Imagine...A pack of robot dogs, each the size of a Doberman, roaming through cities and towns, communicating wirelessly, navigating any obstacles in their path. Even opening closed doors with ease.Scary right?But this isn’t an idea for a new Hollywood blockbuster.Its real life. Taking place right now in the U.S., at Boston Dynamic's laboratories.Engineer's aptly named the 4-legged robot Spot...Read More
Stocks continue to stabilize following last week's gut-wrenching drop.But there's a much more serious threat coming to light. This threat is more pressing than terrorism or natural disasters, according to the CIA, FBI, and NSA. And it's quietly reigniting a forgotten market trend.The Senate Intelligence Committee declared cybersecurity its most pressing concern at yesterday's annual worldwide thre...Read More