* Apple surge fuels gains for Nasdaq* Volatility index VIX falls back after hitting highest since 2015* Selloff had knocked more than $1.5 trillion off S&P (Updates to open)By Tanya AgrawalFeb 6 (Reuters) - U.S. stock markets bounced after a torrid opening on Tuesday, bargain-hunters and gains for Apple pushing the tech-heavy Nasdaq and the Dow Jones Industrial Average into positive territory...Read More
Monday's broad-market sell-off sent the CBOE Volatility Index (VIX) up more than 115% -- its biggest one-day gain ever. As such, the VelocityShares Daily Inverse VIX Short-Term ETN (XIV) -- an exchange-traded note issued by Credit Suisse Group AG (NYSE:CS) that mirrors the inverse performance of VIX -- was down 14.3% at 99 when the stock market closed, and plunged more than 80% in after-hours trad...Read More
(Kitco News)- The cryptocurrency marketcontinues to get hammered with selling pressure, with the bitcoin -- the mostpopular digital currency -- falling to fresh multi-month lows as moreregulators call for more oversight.Overnight, Agust?-n Carstens,general manager for the Bank of International Settlements, warned thatcryptocurrencies are becoming a “threat to financial stability.”&ldqu...Read More
(Kitco News) - Goldprices have dropped to modestly weaker levels inlate-morning action Tuesday. The U.S. stock indexes opened the day session downbut have just turned higher on the day. This, along with a rally in the U.S. dollar index today, are working to pressure the gold and silver markets a bit.However, if the stock market selling pressure intensifies today, which isentirely possible, then sa...Read More
TORONTO, Feb 6 (Reuters) - Canada's main stock index fell to a five-month low on Tuesday, as a selloff in global markets weighed on investor sentiment, while domestic data showed a wider-than-expected trade deficit.The Toronto Stock Exchange's S&P/TSX composite index fell 161.22 points, or 1.05 percent, to 15,173.59. (Reporting by Matt Scuffham) Disclaimer: The views expressed in this article...Read More
Feb 6 (Reuters) - The Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates.* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, edged up 13 points, or 1.2 percent, to 1,095 points.* The capesize index snappe...Read More
Feb 6 (Reuters) - The Dow Jones Industrial Average opened almost another 2 percent lower on Tuesday after two days of heavy losses that have undermined faith in the U.S. stock market's almost decade-long rally.The Dow Jones Industrial Average fell 536.97 points, or 2.21 percent, to 23,808.78. The S&P 500 lost 49.06 points, or 1.85 percent, to 2,599.88 and the tech-heavy Nasdaq Composite droppe...Read More
Even afterwatching markets for 38 years, you always have to ask the question: “what’swrong with this picture.” The equity markets are under extreme pressure and outof nowhere volatility is through the roof. The VIX rallied 100% on Monday andis up 400% from its lows. Interest rates are at 5-year highs and yet gold hasdone nothingFrom the movieTrading Places when the Duke Brothers...Read More
(Kitco News)- While gold won’t beimmune to lower prices in the near term, analysts note that the yellow metal isdoing what it advertises as it provides important diversification while outperformingcrashing global equity markets.“Gold has tradedrelatively calmly during the bond and stock market turmoil this past week.Investors who bought gold in recent months in response to increased ma...Read More
Shares of food delivery expert Grubhub Inc (NYSE:GRUB) and restaurant issue Wingstop Inc (NASDAQ:WING) have performed well over the past year, and analysts this morning are upwardly revising their outlooks. Below is a closer look at the bullish brokerage notes and how GRUB and WING stocks have been performing on the charts. Grubhub Set to Release Earnings This WeekGrubhub stock hit a record high o...Read More
Stock futures are pointed dramatically lower for the third straight day, following yesterday's historic collapse that saw the Dow down more than 1,100 points by the close. Specifically, Dow Jones Industrial Average (DJI) futures are trading more than 600 points below fair value, and S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also significantly lower. Stocks around the world a...Read More
CenterraGold Inc. (TSX: CG)says mill operations have partially resumed at the Mount Milligan copper andgold mine in British Columbia. They had been suspended in late 2017 due to lackof waster. The company says the mill is now utilizing one ball mill to minimizewater requirements. “During the restart phase, the company anticipates aramp-up period and there may be periodic commissioning downti...Read More
Gold finally broke down of its mid/late-Asian session consolidation phase and has now erased the majority of its daily gains. The precious metal initially was seen building on overnight gains and was being supported by global flight to safety. A rout in the US stocks carried over into the Asian markets and remained supportive of the commodity's safe-haven appeal. However, a modest...Read More
NEW YORK, Feb 6 (Reuters) - The dollar clung to its earlier gains against a basket of currencies on Tuesday even as data showed United States' trade gap deteriorated to its widest level in nine years in December due to a surge in imports. At 8:34 a.m. (1334 GMT), the index that tracks the greenback against the euro, yen and four other major currencies was up 0.39 percent at 89.906.(Reporting by Ri...Read More
(Kitco News) - Gold and silver markets are trading slightly up in early morning price actionTuesday. However, good overnight gains were mostly erased when the U.S. dollarindex suddenly pushed higher. Still, sellers in the precious metals markets arevery timid amid the meltdown in world stock markets early this week. April Comex gold futures were last up $2.10 an ounce at $1,338.50. March Comex sil...Read More
TD Securities says gold could slide whenever equities rightthemselves up again, but gold should rise later in the year since the FederalReserve will be cautious about hiking U.S. interest rates. Gold fell as lastweek wound down after a strong U.S. jobs report, with equity and bond pricesalso falling on ideas that the Fed will hike more in the coming year than was previously expectedand traders sta...Read More
U.S. stocks were in a tailspin again yesterday, with the Dow Jones Industrial Average (DJI) dropping more than 1,000 points in its steepest one-day loss ever. What's more, it was the fourth massive drop for the Dow in six sessions -- something we haven't seen in two years -- and the first time since the financial crisis that the index gave up 1.5% or more in back-to-back sessions. Below, we take a...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
(Kitco News) - Gold demand rallied in the fourthquarter of 2017, but it was not enough to save last year from an annual drop,the World Gold Council (WGC) said in its latest report.Overall demand declined 7% to4,072 metric tons during fiscal year of 2017, down from 4,362 metric tonsreported in 2016, the WGC said in its “Gold Demand Trends Full Year 2017”report.Rising equity markets andc...Read More
Mr. Nav Dhaliwal reportsBONTERRA EXTENDS MULTIPLE ZONES AT GLADIATOR GOLD DEPOSITThe continuing resource development program at Bonterra Resources Inc.'s Gladiator gold deposit has extended the north, footwall and main zones by 200 metres down plunge to the east. High-grade intersections identified in stepout drilling east of the known mineralization demonstrates the potential for further expansio...Read More