(Adds company comment, updates share price)Jan 3 (Reuters) - Spark Therapeutics Inc said on Wednesday it will charge $850,000 per patient for its breakthrough gene therapy to treat a rare form of blindness, a lower than expected price that the company said reflects patient and insurer concerns about access and cost.Investors had expected the company to charge closer to $1 million for the treatmen...Read More
Shares of Oracle Corporation (NYSE:ORCL) and IBM Corp. (NYSE:IBM) are trading higher this morning following bullish analyst updates. For ORCL stock, Morgan Stanley raised its rating to "overweight" from "equal weight," and lifted its price target to $57 from $50. IBM stock, meanwhile, was upgraded to "outperform" from "sector perform" at RBC, and its price target was moved up to $180 from $160. Di...Read More
After an initial jump shares in Solgold plc (LON, TSX:SOLG) were trading flat by lunchtime on Wednesday after the company, worth $865m on the Toronto stock exchange, released the maiden resource for the Alpala target at its massive Cascabel copper-gold project in northern Ecuador.The latest in a string of announcements from Ecuador, where the Brisbane-based company have completed 63,500m of dr...Read More
(Kitco News)- Gold markethas trimmed some of its gains, falling from recent highs, after the U.S.manufacturing sector ended the year on a strong note, according to data fromthe Institutefor Supply Management (ISM).Wednesday,the ISM said its manufacturing index showed a reading of reading 59.7 forDecember, well above economists’ expectations and up compared to November’sreading of...Read More
It's shaping up to be a critical year for Target Corporation (NYSE:TGT), as rumors continue to swirl about a possible buyout from Amazon.com (AMZN) later in 2018. Nevertheless, after trending higher for several months and adding 3.6% yesterday alone, the retail stock is surging into the new year. Today seems no different, with the equity receiving two price-target hikes this morning. Specifically...Read More
Mr. Eric Fier reportsSILVERCREST APPOINTS CHRISTOPHER RITCHIE AS PRESIDENT; ANNOUNCES PRIVATE PLACEMENT AND GRANTS OPTIONS Silvercrest Metals Inc. has appointed Christopher Ritchie as the company's president, effective Jan. 1, 2018. Mr. Ritchie will report to N. Eric Fier, Silvercrest's founder, chief executive officer and director. The company has also entered into a private placement with Mr. Ri...Read More
U.S. stock futures are trading higher ahead of today's 2 p.m. ET release of the minutes from the latest Fed meeting, where the central bank issued its fifth rate hike in two years. However, today's pre-market upside is being contained after President Donald Trump tweeted that his "Nuclear Button" is "much bigger & more powerful" than that of North Korean leader Kim Jong Un, effectively re-escalati...Read More
FRANKFURT (Reuters) - Germans are investing heavily in gold, Deutsche Boerse said on Wednesday, with holdings of a gold-backed security it offers rising almost 50 percent in 2017.Gold is seen as a safe haven for investors during times of uncertainty. Spot gold prices gained about 14 percent during 2017.Deutsche Boerse said its Xetra-Gold notes, which are backed by physical gold, rose in demand to...Read More
Exchangeoperator CME Group reports that average daily volume in metals markets increased 23% to a record 568,000contracts during 2017. This far exceeded the average daily volume for all CME marketscombined, which was up 4% from 2016 to hit a record 16.3 million contracts.Gains in average daily volume for other markets included interest rates, 9%;foreign exchange, 7%; energy, 6%; and agricultu...Read More
(Kitco News) - Gold moved to our short-term target of $1,322 overnight buta slightly stronger tone to the dollar brought fresh selling into the metalscomplex. Gold appears overextended in the short termand is trying to consolidate but requires a break above the $1,322 level togenerate further momentum. There is support at the $1,311 spot level but abreak through here would bring a test of the $1,3...Read More
(Kitco News) - Gold prices are hovering near unchanged levels in early U.S. trading Wednesday, asthe market pauses after hitting a 3.5-month high overnight. Silver prices are abit weaker but scored a five-week high overnight. Gold and silver bulls havethe technical momentum to suggest more price gains in the near term. February Comex gold was last up $0.70 an ounce at $1,316.70. March Comex silver...Read More
Roxgold Inc. (TSX: ROXG)says it has received the necessary permit approval from the Burkina FasoMinistry of Environment and Sustainable Development to develop the BagassiSouth Project. “The approval of the environmental and social impact assessmentfor Bagassi South allows us to confirm our development decision and begin minedevelopment and construction for our first growth project on the Yar...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
To quote the great Howard Cosell, “it’s over, it’s over,”and that’s what we think about this rally in the metals the last three weeks.To be clear, we are big fans of gold and silver and we are not liquidating ourinvestments, but from a trader’s standpoint, we are going to take a shortposition somewhere in this $1,315-$1,325 area. Gold and silver look exhausted,...Read More
As surprising and uncharacteristic as a Donald Trump presidency is, it might not make sense to compare this year to past presidential cycles, but I have decided to do it anyway. It's well known that historically, stocks have been outstanding in the third year of the cycle. The theory is, that before the election year politicians focus their energy on campaigning, they tend to pass legislation that...Read More
BEIJING, Jan 3 (Reuters) - China's central bank told a top-level government internet finance group that the monetary authority can tell local governments to regulate the power usage of bitcoin miners to gradually reduce the scale of their production, a source said. While the People's Bank of China (PBOC) can't directly regulate bitcoin miners' power usage, it can ask local authorities to do so, th...Read More
Firms in U.S., China, Germany, U.K. warn of supply constraintsWorld economy predicted to be strongest since 2011 this yearChristian Schulz Sees Phillips Curve as Big 2018 QuestionFactories across the globe warned they are finding it increasingly hard to keep up with demand, potentially forcing them to raise prices as the world economy looks set to enjoy its strongest year since 2011.A slew of Purc...Read More
Stocks rose on Tuesday, Jan. 2, the first trading day of 2018, as stocks in the consumer discretionary and energy sectors posted solid gains. U.S. equities have risen for three of the past four trading sessions as companies count the benefits of U.S. tax cuts and take advantage of the dollar's worst run slump 2003. The S&P 500 and Nasdaq both started off the new year with...Read More
McClellan Financial Publications, IncPosted Jan 2, 2018December 29, 2017We are now entering the upward phase of gold’s 8-year cycle, and that should bring some fun gains.And this comes at a time when gold has not been getting much of investors’ attention.If gold stays flat for a year, and Bitcoin twinkles to get all of the attention, speculators eventually drift away from gold.That set...Read More
Spot bullion gains for 8th day to the highest since SeptemberPrecious metal advanced in 2017 even as Fed hiked three timesGolden Cross for Gold a Bullish Sign, Says StreibleGold is starting the new year on the front foot. Bullion advanced for an eighth session to head for the longest stretch of gains since mid-2011, building on an annual surge.Bullion for immediate delivery advanced 0.9 percent to...Read More