UBS analysts arecalling weekend developments in India, including announcement of a 3% goods andservices tax on gold, as "a relatively subdued outcome" and "encouraging." TheGST tax was at the lower end of the range of expectations of 2% to 5%, the bankpoints out. No change was made to the gold import tax of 10%. "The GST on goldtherefore brings the total tax bill for gold slightly higher to 13% (1...Read More
* Herbalife falls after cutting current-quarter forecast* Apple marginally lower after rating cut* Futures down: Dow 22 pts, S&P 2.5 pts, Nasdaq 7.25 pts (Adds details, comment, updates prices)By Tanya AgrawalJune 5 (Reuters) - U.S. stocks were little changed on Monday as investors appeared to have shrugged off the weekend attacks in London, while awaiting a string of economic data.The third milit...Read More
(Kitco News) - Operations at First MajesticSilver Corp.'s (NYSE: AG; TSX: FR) La Encantada Silver Mine in Mexico willbe restarted on a phased-in basis during the coming weeks, the company said.Just ahead of the weekend, First Majestic Silver Corp. announced that it had reached atentative agreement with the National Union of Miners, Metallurgists,Steelworkers and Similar Workers of Mexico for the r...Read More
Stock futures moved lower on Monday morning, suggesting equities would retreat from records at the opening of trading, after a terror attack in London over the weekend. S&P 500 futures were down 0.1%, Dow Jones Industrial Average futures slid 0.11%, and Nasdaq futures declined 0.11%. Wall Street largely overlooked weaker-than-expected U.S. jobs growth in May on Friday, with major benchmark ind...Read More
(Kitco News) - The "fear of missing out" is pushing Bitcoin and EthereumCrypto Currencies to huge bubbles. The sustainability of these patterns has nochance of succeeding. That doesn't mean they won't be higher years from now butfor now these bubbles will pop and most likely have a mini collapse. Gold and silver are steady on support and look like they areturning into the next bull market. I am l...Read More
(Kitco News) - Gold prices aremoderately up and have hit a six-week high in early U.S. trading Monday. Somenew geopolitical developments in the Middle East and an increasingly bullishnear-term technical posture are prompting more trader and investor buyinginterest in the yellow metal. Gold prices are now within striking distance ofthe key $1,300.00 mark. August Comex gold was last up $5.40 an ounc...Read More
Shares in Canada's Osisko Gold Royalties (TSX, NYSE:OR) jumped Monday following the company's decision to buy a precious metals portfolio from US private equity firm Orion Mine Finance Group for Cdn$1.13 billion (about $834 million).The portfolio consists of 74 royalties, streams and precious metal offtakes, and its acquisition will result in Osisko holding a total of 131 royalties and streams, in...Read More
(Kitco News) - Osisko Gold Royalties Ltd (TSX, NYSE: OR) has agreed to acquire aprecious-metals portfolio, consisting of 74 royalties, streams and preciousmetal offtakes, from Orion Mine Finance Group for C$1.125 billion, the companyreported Monday.After the deal, Osisko would hold 131 royalties and streams,including 16 revenue-generating assets, the company said. The company'scornerstone assets r...Read More
A peaking money supply to saving ratio is a warning sign that the economic distortions created during the upward swing of the ratio could be revealed.It is especially at this time that gold's properties as a safe haven asset are primed to excel.Gold performed well in the aftermath of the two previous peaks in the MS/S ratio, especially compared to stocks.Savings are not only paramount for economic...Read More
U.K. politicians resumed election campaigning Monday following the weekend's deadly terrorist attack in London, with leaders likely to focus the final days of debate into Thursday's vote on national security. The Conservative, Labour and Liberal Democrat parties had suspended national campaigning Sunday after the London Bridge and Borough Market attacks as mark of respect for the seven people kil...Read More
(Kitco News) - World stock markets were mostly lower Monday, on corrective pullbacks from recent gains that have put many stock indexes at or near record or multi-year highs. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins.Gold prices are modestly higher to start the trading week. There are some new geopolitical tensions in the Middle East that a...Read More
Legendary investor and CEO of Sprott U.S. Holdings Rick Rule has laid out the one key factor he considers when investing in gold mining stocks.Rick Rule, CEO of Sprott U.S. Holdings, 2017On May 28, he joined a panel of experts in a webcast titled "Will Gold Trump Politics in 2017?" to discuss growing trends in the gold mining industry.Of course, investors should focus on the financials, past perfo...Read More
CloseGain/LossGold $1279.60+$1.40Silver$17.57+$0.05XAU83.12-0.12%HUI192.84+0.70%GDM632.61+0.20%JSE Gold1319.37+13.02USD96.81+0.13Euro112.58-0.27Yen90.50-0.08Oil$47.40-$0.2610-Year2.180%+0.030T-Bond155.6875-0.46875Dow21184.04-0.10%Nasdaq6295.68-0.16%S&P2436.10-0.12% The Metals: Gold gained $4.80 to $1283.00 by a little after 8AM EST before it dropped back to $1277.90 in the next four hours...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Dr. Chris of PeakProsperity.com, and author of the book Prosper! How to Prepare for the Future and Create a World Worth Inheriting. Chris is a commentator on a range of important topics such as global politicals, financial markets, governmental policy, precious metals and the importance of preparedness amon...Read More
By Graham SummersSince 2008 the financial media has been proclaiming that the US was in a "recovery." This argument was used to justify the insane monetary policy of the Federal Reserve, which maintained ZIRP for seven years and spent over $3 trillion in QE.Well, it turns out there was no recovery to speak of when it comes to jobs. According to a report posted on Friday, an incredible 93% of ALL...Read More
By Frank HolmesStrengthsThe best performing precious metal for the week was palladium, up 6.17 percent. Consumer demand is rising for gasoline- versus diesel-engine powered vehicles, yet automobile sales have started to relax in recent months. According to Bloomberg, gold bulls outnumber gold bears this week as Trump probes are boosting safe-haven demand for the yellow metal. In fact, gold adv...Read More
By Keith Weiner The jobs report was disappointing. The prices of gold, and even more so silver, took off. In three hours, they gained $18 and 39 cents. Before we try to read into the connection, it is worth pausing to consider how another market responded. We don't often discuss the stock market (and we have not been calling for an imminent stock market collapse as many others have). The initi...Read More
Gold Today -New York closed at $1,278.20 Friday after closing at $1,270.10 Thursday. London opened at $1,281.00 today. Overall the dollar was weaker against global currencies, early today. Before London's opening: - The $: EUR was weaker at $1.1264 after Friday's $1.1222: EUR1.- The Dollar index was weaker at 96.77 after yesterday's 97.20. -...Read More
A summer evening on London Bridge and in Borough Market ended in terror on Saturday as attackers killed seven people and injured 48.This is the second terrorist attack on British soil in less than two weeks and the the third this year. The attack was immediately labelled as a terrorist attack. In the hours that followed police arrested a further 12 people who were suspected of having links to th...Read More
Grant Williams is the portfolio manager of the Vulpes Precious Metals Fund and strategy advisor to Vulpes Investment Management in Singapore. Grant has 28 years of experience in finance on the Asian, Australian, European and US markets and has held senior positions at several international investment houses, including Robert Fleming, UBS and Credit Suisse. Since 2009, he has also been writing the...Read More