(Kitco News) - It's always prudent for traders of any market and anytrading timeframe-even the short-term intra-day traders-to examine longer-termprice charts, such as weekly and monthly charts. History proves thatsignificant, trending moves in markets tend to see their prices gravitatetoward historical highs (in an uptrend) or lows (in a downtrend), which aredepicted on those longer-term charts....Read More
* Congolese clamour to vote, fear further election delays* President Kabila coopts opposition to ease pressure for vote* Economy worsens, corruption spreads* Officials reject comparisons with slide to war in 1990s By Aaron RossKINSHASA, June 7 (Reuters) - Arnaud Kalala had queued for hours in Kinshasa's rainy season heat to register to vote in an overdue election to replace Congolese President Jo...Read More
* Current chairman to step down on Oct. 31* Anglo's recovery stalling after commodities market rally in 2016* Chambers involved in two big takeover deals last year (Adds comments from analysts, industry source)By Rahul B and Barbara LewisJune 7 (Reuters) - Anglo American has appointed Stuart Chambers, the former chairman of British chip designer ARM Holdings and packaging group Rexam, to succeed J...Read More
(Corrects size of Algebris fund in paragraph 5)* Sterling fell 3 percent in less than four weeks* Hedge funds take view that pound will fall further* Exit from EU chief among British concerns for hedge funds By Maiya Keidan and Patrick GrahamLONDON, June 6 (Reuters) - Whatever the outcome of Britain's election on Thursday, some hedge funds are still betting sterling will fall anew -- anticipatin...Read More
(Updates with more share gains)* Banking shares rise after Santander rescues rival Popular* Euro hit by report ECB may cut inflation outlook* All eyes on "Triple Threat Thursday"* Graphic: World FX rates in 2017 By Patrick Graham and Danilo MasoniLONDON, June 7 (Reuters) - A smoothly executed rescue of Spain's struggling Banco Popular drove European banking stocks higher on Wednesday in financial...Read More
Jun 07, 2017 (Marketwired via COMTEX) -- SAN FRANCISCO, CA--(Marketwired - June 07, 2017) - With primary targets still not accessible due to weather, secondary targets are the focus, and analysts Ryan Walker of Echelon Wealth Partners and Adam Melnyk of PI Financial weigh in on the latest results. Company included in article: Victoria Gold Corp. In a June 5 press release, Victoria Gold Corp. (VI...Read More
Stock futures were in a holding pattern again on Wednesday as investors cautiosuly waited for direction from a number of market-churning events on Thursday. S&P 500 futures were up 0.04%, Dow Jones Industrial Average futures were flat, and Nasdaq futures rose 0.14%. Top of the list, the investigation into the Trump campaign's alleged ties with Russia will come back into the spotlight as fo...Read More
Gold futures are among the "few bright spots for commodity bulls," with prices poised to test their 2017 high, says Mike Zarembski, senior commodities analyst with optionsXpress. Comex August gold on Tuesday threatened the $1,300-an-ounce level for the first time since mid-April, with investors moving some assets to so-called "safe havens" like gold and U.S. Treasury notes, he says. Factors cited...Read More
(Kitco News) - Gold prices aremodestly lower on a normal downside technical correction after hitting a seven-weekhigh Tuesday. Prices are still within striking distance of the key $1,300.00mark. Major news events lie just ahead that are likely to move the preciousmetals markets. August Comex gold was last down $5.40 an ounce at $1,292.10.JulyComex silver was last down $0.10 at $17.61 an ounce. Ter...Read More
TMAC Resources (TSX: TMR) has officially kicked off commercial production at its Doris gold mine and mill at the Hope Bay project in Canada's far north, which has now become Nunavut's second operating gold mine and the first one ever in the western area of the Territory.The explorer, which poured its first gold bar at the mine in February, is celebrating the ramp up toward full production by flyi...Read More
Anglo American (LON:AAL), the world's fifth largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group.Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.Stuart Chambers is known for his active participation in the sale of several UK companies, includi...Read More
Allegations made against Trump Administration representatives and the firing of Jim Comey have raised risk to the U.S. dollar and securities.Thus, the SPDR Gold Trust should continue to enjoy strong support this week at least into the key testimony of Comey.What happens immediately after the testimony depends greatly on the testimony itself, and a sell-the-news event is very possible for the GLD l...Read More
(Kitco News) - World stock markets were mostly steady to firmer overnight. U.S. stock indexes are also pointed toward slightly higher openings when the New York day session begins.Gold prices are moderately lower in pre-U.S.-session trading, on a downside correction after good gains on Tuesday pushed prices to a seven-week high.Terror attacks in Iran Wednesday, including on its parliament, have n...Read More
By: Rudi Fronk and Jim Anthony Rudi Fronk and Jim Anthony, the cofounders of Seabridge Gold, discuss the significance of gold breaching its downward sloping trend line.Today, gold broke a nearly six year-long downward sloping trend line that goes back to its all-time high of $1921 in August of 2011. Gold has not managed to cross above this trend line, currently at around $1280, since then, alth...Read More
By Craig HemkeIn what should come as no surprise to anyone around here, The Banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now The Banks are working their alchemic magic in Comex Digital Gold, too.Frankly, I'm not even sure why I'm taking the time to write about this. You kno...Read More
By: Arkadiusz Sieron In the previous edition of the Market Overview we wrote that "geopolitical risks clearly won with a hawkish Fed in a tug of war in the gold market" at the turn of March and April, as the yellow metal gained about 7 percent from mid-March to mid-April. However, the price of gold declined about 4.8 percent until May 9 when it started its rebound. As the chart below shows, at...Read More
By Frank HolmesWith the U.S. dollar taking another hit last Friday on a weaker-than-expected jobs report, gold closed up 1.12 percent for the day today. A Bloomberg gauge of 72 junior miners, however, has lost 15 percent since the end of January, and the rebalance of the VanEck Vectors Junior Gold Miner ETF (GDXJ), which I previously wrote about, is also having a depressing effect on many gold n...Read More
Tuesday's feisty rally exceeded the 1296.40 rally target we'd been using by a relatively modest $2.40, but because the pattern associated with the target is so clear, even as small an overshoot as occurred will have bullish implications going forward. Accordingly, I'll suggest using the pattern shown (see inset), with a 1314.50 target that should be familiar to you. It is a logical minimum upsid...Read More
- Gold prices break 6 year down trend on safe haven demand (see charts)- Chinese gold demand set to surge 50% to 1,000 metric tonnes- Chinese demand for gold bars on track to surge more than 60 percent in 2017- Geopolitical risk internationally leading to safe haven demand- UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran toda...Read More
Gold Today -New York closed at $1,293.80 yesterday after closing at $1,279.60 Monday. London opened at $1,292.65 today. Overall the dollar was slightly weaker against global currencies, early today. Before London's opening: - The $: EUR was slightly weaker at $1.1254 after yesterday's $1.1246: EUR1.- The Dollar index was slightly weaker at 96.68 afte...Read More