(Kitco News) - Gold prices are modestly up in early U.S. trading Thursday, supported by a weakerU.S. dollar index and by rallying crude oil prices that hit a three-year highovernight. Some chart-based buying is also featured in both gold and silverthis week, as the near-term technical postures for both markets are bullish. February Comex gold was last up $3.30 an ounce at $1,322.70. March Comex si...Read More
Mr. Mark Utting reportsKIRKLAND LAKE GOLD REPORTS RECORD ANNUAL AND QUARTERLY PRODUCTIONKirkland Lake Gold Ltd. has provided record annual and quarterly production for the full year and fourth quarter of 2017, respectively. Comparative information for the full year and fourth quarter of 2016 includes results for the Fosterville, Cosmo and Stawell mines prior to the merger between Kirkland Lake Gol...Read More
The final stretch of 2017 started with a bang for our Weekend Trader options recommendation services, as traders closed out three winners in three days. First, our Dollar Tree (DLTR) call option was closed out at a 102% gain on Nov. 29, less than two months after it was initially recommended. Then, on Nov. 30, a Kroger (KR) call option hit its target for a 104% return in a little over two weeks, w...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 search for directioncontinues in gold as the metal stays in a range between $1,305 and $1,328. Theprecious metal is still preparing to make a big move, and the inability tobreak out over $1,330 on a weekly chart suggests that prices will be headedlower before they go higher. This consolidation patterncan last for an extended period of time and although a big move is coming, it'snot imminent. C...Read More
BEIJING (Reuters) - China is diversifying its foreign exchange reserves in order to safeguard their value, the country’s currency regulator said on Thursday, while dismissing a media report the government is halting or reducing its purchases of U.S. debt.Bloomberg News reported on Wednesday that Chinese officials reviewing the country’s vast foreign exchange holdings had recommended sl...Read More
Summary of 2017 in the gold market from the perspective of its fundamentals.Main drivers of the gold prices.Investment conclusions for 2018.So another year has passed. How quickly it happened! But we hope that you did not get bored, and instead took time to learn more about the fascinating gold market. At first glance, 2017 seems to have been a dull period for the yellow metal, as it was traded wi...Read More
Mr. Peeyush Varshney reportsCANADA ZINC METALS ANNOUNCES COMPLETION OF INITIAL EARN-IN ON THE PIE OPTION PROPERTIESTeck Resources Ltd. and Korea Zinc Co. Ltd. have delivered to Canada Zinc Metals Corp. an exercise notice regarding the optionees' first option on the Pie, Yuen and Cirque East properties. Background The Pie, Yuen and Cirque East properties are the subject of an option agreement conc...Read More
Mr. MichaelAllen reports5.30 METRES OF 16.52 G/T GOLD DRILLED AT NORTHERN EMPIRE'S STERLING MINENorthern Empire Resources Corp. has released results of three diamond drill holes recently completed at the Sterling mine, located within Northern Empire's 125-square-kilometre Sterling gold project in Nye county, Nevada.Michael G. Allen, president, chief executive officer and director, stated: "We cont...Read More
Gold prices were solidly higher on Wednesday as the metal hit a 3-1/2 month high, remaining above the key support level of $1,300 an ounce. Since the U.S. Federal Reserve Rate hike in December, the metal has managed to rally close to 6%. But Peter Hug, global trading director for Kitco Metals, is waiting for the road to fully clear. "I am not a complete bull on this market yet. I would like to se...Read More
10-year yield drops from highs after auction, Nafta reportS&P 500 halts six-day rally, sees first loss of 2018Mark Hawtin, investment director at GAM, talks about the impact of inflation levels on bond and equity markets.U.S. stocks fell for the first time this year as shares that serve as bond proxies tumbled on speculation interest rates will continue to rise. Treasuries turned higher in la...Read More
PBOC is said to adjust formula for fixing yuan exchange rateKorea said it would take stern steps to curb one-sided movesPrestige's Schenker Sees Pressure on DollarDollar bears take heed: Asian central banks may be putting the brakes on the greenback’s slide.After working for three years to staunch the yuan’s slump, China is now moving to combat the opposite problem. The People’...Read More
Stocks declined on Wednesday, Jan. 10, the dollar slumped and bond yields spiked to a 10-month high following reports that China may be reconsidering its investment in U.S. government debt. If stocks finished lower on Wednesday it would be the first down day of 2018. The Dow Jones Industrial Average fell 44 points, or 0.18%, the S&P 500 slipped 0.22%, and the Nasdaq was down 0.5% a...Read More
Stock futures fell sharply Wednesday, while the dollar slumped and bond yields spiked to a 10-month high following reports that China may be reconsidering its investment in U.S,. government debt. Contracts tied to the Dow Jones Industrial Average fell 110 points from their Tuesday close while those linked to the broader S&P 500 tumbled 10.5 points, or 0.38%, from yesterday's record...Read More
I simulate a 3x daily leveraged gold fund back for 50 years.The fund performs horrifically: It is currently on a 38-year downturn and has lost as much as 99.8% of its value.Despite that, I own shares of UGLD.** This article deals with leveraged funds. Leveraged funds are not suitable for many investors. They are highly volatile, and can suffer enormous and long downswings. Please invest carefully....Read More
Millennials are finally growing up.I'm sure you've heard the stories by now. Millennials are stunted, the experts warn. They're up to their eyeballs in student loan debt. They're having trouble finding good-paying jobs. Heck, most of them are living in their parent's basements or crappy apartments.But here's the thing: many of these generalizations aren't true at all. In fact, millennials have gro...Read More
I’ve seen Wall Street analysts make some bad calls before, but this one really takes the cake. They’re so far off base that even a major Wall Street firm is calling them out for being behind the curve.In a note to clients, Credit Suisse said the following:“Analysts have adjusted their 2018 forecasts by less than 2% for recent tax changes, a fraction of the likely impact.”...Read More
We made it through 2017.And if you look at the stock and asset markets, as Donald Trump tends to do (and as Barack Obama did, too), you'd think all is fine with the world.The Dow Jones Industrial Average rose about 24% last year. The Dow Jones U.S. Real Estate Index rose 6.20%. The price of one bitcoin rose about 1,646%.And so far 2018 has been more of the same.On the flip side of that euphoria ho...Read More
Dear Reader,The Dow required just 23 record-breaking trading days to leap from 24,000 to 25,000.The same Dow took 24 trading days to leap 1,000 points under the old record… a record established only last year.Can we now expect the Dow to break 26,000 within the next 22 trading days?And does this galloping pace mean we have entered the crack-up boom - the manic boom that precedes the bust?Tod...Read More
Click Here to Listen to the InterviewFund manager and analyst Grant Williams joins TF Metals for an update on his tremendous "Nobody Cares" presentation from late 2015. Additionally, Grant takes some time to discuss the USDJPY-gold link as well as the pending introduction of that yuan-denominated crude oil contract in Shanghai. Be sure to take some time to listen.If you haven't seen "Nobody Cares"...Read More