Strong earnings are once again serving as a bullish catalyst for the U.S. stock market, with futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) trading above fair value after big beats from 3M (MMM) and Caterpillar (CAT). The Nasdaq-100 Index (NDX) is also signaling a positive start, as Amazon (AMZN) gets a pre-market lift from a price-target hike to $1,800 at D.A. Davidson,...Read More
Freeport-McMoRanInc. (NYSE: FCX),the world’s largest publicly traded copper company but also a significant goldproducer due to by-product metal, lists fourth-quarter net income of $1billion, or 71 cents per share, compared to $292 million, or 21 cents, in thesame period a year ago. After adjusting for net gains of $291 million primarilyrelated to tax benefits associated with U.S. tax reform,...Read More
(Kitco News) - In December, we suggested that the gold price was beginningto exhibit the same patterns we witnessed in 2016 and 2017, when gold began asignificant uptrend in the first half of those years. The primary catalyst forthis year's stellar run has been the weakening dollar and Treasury SecretaryMnuchin's comments that a weak dollar is a positive for U.S. growth. which has accelerated the...Read More
• Easing USD bearish pressure prompts some profit-taking. • Sliding US bond yields might continue to lend some support. Gold surrendered majority of its early gains to the highest since August 2016 and quickly retreated back below $1360 level during the early European session. The US Dollar tumbled to fresh three-year lows on comments by the US Treasu...Read More
Mr. John Burzynski reportsOSISKO INTERSECTS 56.1 G/T AU OVER 8.9 METRES AT WINDFALLOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and ar...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
The metals have been on a wildride, trading as low as $1,238 on Dec. 12 and as high as $1,365 this morning.What's next for the metals? What has caused the biggest move in a year?Once again, the metals have reachedthat do-or-die moment. They are trading near resistance that goes as far backas September of 2013. Will they continue to break out? Will the resistancelevel hold?The big rally has been on...Read More
Global miner Anglo America (LON:AAL) saw its output climb 5% last year thanks mainly to its diamond and iron ore divisions, though copper production remained flat.The company said output at its diamond unit, De Beers, climbed 22% compared with the previous year to 33.5 million carats, as its Gahcho Ku?(C) mine reached full production.Gahcho Ku?(C), Canada's newest diamond mine and the world's larg...Read More
Freeport-McMoRan Inc, the world's second-largest copper miner by production, reported a bigger-than-expected jump in fourth-quarter profit on Thursday, lifted by stronger commodity prices and productivity gains.The Arizona-based company, which formed a framework agreement with Indonesia's government last August to secure a long-term permit for its massive Grasberg copper and gold mine, also said t...Read More
By Felix NjiniFor South African gold miners, it's both the best and worst of times.The metal started the year with a bang, rising more than 4 percent to the highest since August 2016. But an equally impressive rally in the rand means that South Africa-focused producers are likely to miss out on the party.Because mining companies pay most of their expenses in local currency, a stronger rand squeeze...Read More
Newmont Mining Corporation (NYSE: NEM) has been recognized as one of the world's most admired companies in an in-depth global survey conducted by FORTUNE magazine. Newmont was ranked as the top mining company globally, posting strong scores in the areas of quality of management, social responsibility, long-term investment, people management and innovation. FORTUNE bases its ranking on the o...Read More
Shares in the world's largest mining and construction equipment maker Caterpillar (NYSE:CAT) were up almost 4% in pre-market trading on Thursday after the company posted results that beat investors' expectations.The Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported positive fourth quarter and full-year results and delivered bullish proj...Read More
Stocks were mixed on Wednesday, Jan. 24, with the Dow scoring a new record close and the S&P 500 and Nasdaq finishing lower. Stocks got a boost early Wednesday from adecline in the dollar to three-year lows after Treasury Secretary Steve Mnuchin told an audience in Davos, Switzerland, that a weakening greenback would be good for American trade. However, Mnuchin, the first...Read More
Exchange-traded funds backed by bullion reach 2,250 tonsGold extends gains after posting the best year since 2010Gold Soars as Crypto Currencies PlungeInvestors are piling into exchange-traded funds backed by gold, pushing assets to the highest in more than four years.Holdings climbed to 2,250 tons on Monday, the highest since May 2013, according to data compiled by Bloomberg. The rise in ETFs com...Read More
Jack ChanPosted Jan 24, 2018GLD – on buy signal.***SLV – on buy signal.***GDX – on buy signal.***XGD.TO – on buy signal.***CEF – on buy signal.***GDXJ – on buy signal.***Speculation is in bull market values.Speculation recovered sharply from the lowest level in years.The pullback this week is in the process of an inverted head & shoulder bottom.SummaryLong-t...Read More
Stocks traded higher on Wednesday, Jan. 24, getting a boost from the dollar's decline and after General Electric Co. (GE) provided Wall Street with an upbeat outlook for 2018. TheU.S. dollar plunged to a fresh three-year low Wednesday after Treasury Secretary Steve Mnuchin told an audience in Davos, Switzerland, that a weakening greenback would be good for American trade. The...Read More
Amazon.com (NASDAQ:AMZN) opened its first "checkout-free" grocery store this week.The venture is called Amazon Go. Instead of filling a cart and taking your items to a clerk to pay, you check into the building with the Amazon Go app and your shopping basket is automatically monitored. Once you have what you want, you walk out and your purchases are recorded and paid for thru the app. No waiting...Read More
Every day, more and more regular Americans are finding vast sums of wealth buried beneath their homes. In some cases, the wealth shows up in attics or even overlooked bathroom spaces.Last year, I started the process for myself... in the cold, unfinished basement below my house. As you can see, I even got my youngest son to help me.So what is this phenomenon sweeping across America?It's a giant wav...Read More
Key event details: Why gold and why now? A concise gold market overview 5th February 12.00-12.10John Reade, Chief Market Strategist, World Gold CouncilMacro-economic factors – what should investors pay attention to in evaluating gold?The outlook for demand – where is growth going to come from and what are the challengesPanel: The gold market – what drives the pric...Read More
As the only national gold and precious metals event, China Gold covers the entire mineral value chain under the streams of Gold Mining, Gold Investment Market and Gold Consumption. That includes gold mining, smelting and processing, market trend forecasting for gold investment, gold consumer products, particularly jewelry design and technology. China Gold is committed to continually promoting the...Read More