Where Will The Big Money Be Made? There are some conclusions here we do not agree with. But SRSrocco does fine work, and since we are in data intake mode ourselves, all ideas must be noted, and many of the ones here are good. Notably the energy costs for mining these crpyto's and how that affects their scalability. One other thing, the author is on board identifying that these are not 'safety...Read More
(Rewrites after share price jump, adds context)By Nicole MordantJune 5 (Reuters) - Canada's Osisko Gold Royalties Ltd said on Monday it had agreed to buy a precious metals portfolio from U.S. private equity firm Orion Mine Finance Group for C$1.13 billion ($839.40 million), sending its shares up 10 percent. The transaction is "transformative" for Quebec-based Osisko as it increases its portfolio...Read More
(Corrects to clarify 20 million pounds will be the proceeds from new shares issued)June 5 (Reuters) - * DP Eurasia intention to float on London Stock Exchange* DP Eurasia says expects to have free float of not less than 50 percent* DP Eurasia says to raise proceeds of around 20 million pounds from the issue of new shares, on top of selling some of the shares held by existing shareholdersSource te...Read More
Last week index score: 73.35This week: 37.34Prospero Silver (TSXV: PSL) provided an update on planned drilling of the Matorral, Petate and Pachuca SE projects in Mexico.Zinc One Resources (TSXV: Z) completed the acquisition of Forrester Metals.The Oreninc Index plummeted in the week ending June 1st, 2017 to 37.34 from 73.35 in what was another volatile week for gold.Total raises announced fell to...Read More
(Recasts, new throughout with further estimates, comments)SANTIAGO, June 5 (Reuters) - Chile's central bank cut its 2017 growth forecast to between 1 and 1.75 percent from its previous view of 1 percent to 2 percent as the mining and construction sectors continue to lag, the bank said Monday.The bank also said it was "most probable" that, following rate cuts of 100 basis points this year, further...Read More
Both long-maturity bonds and gold have performed exceptionally well this year, but gold is generally viewed as an inflation hedge while bonds are viewed as a deflation hedge.As such, there appears to be a disconnect between gold, bonds, and the overall economy. Either the strength in gold or bonds could be on weak support.Economic statistics suggest that, between gold and long-maturity bonds, gold...Read More
* Oil falls as Qatar rift threatens output cuts* Sterling recovers as investors focus on election* Wall Street stocks dip after falls in oil, European market* Thursday's ECB meeting keeps lid on euro zone bond yields* Gold hits six-week high after Friday's U.S. jobs report* Graphic: World FX rates in 2017 (Changes dateline to New York; adds Wall Street open; updates throughout)By Hilary RussNEW YO...Read More
Muddy Waters is using outdated information and "dubious drone technology" as the basis for its decision to short Asanko Gold Inc.'s stock, with the sole goal of trying to make the shares worthless, the Canadian miner's chief executive officer said.The activist short-seller Muddy Waters, founded by Carson Block, issued a report last week saying it was shorting Asanko, which it believes is "highly l...Read More
(Adds Fairfax to also sell shares in IPO)June 5 (Reuters) - India's ICICI Bank Ltd and Canada's Fairfax Financial Holdings Ltd will pare their stakes in joint venture insurer ICICI Lombard General Insurance Co Ltd's planned initial public offering (IPO) of shares, the insurer said on Monday.While the size and other details of the IPO will be decided at a future date, ICICI Lombard said the two sh...Read More
* Herbalife falls after cutting current-quarter forecast* Apple slips after rating cut; top drag on all three indexes* Oil prices fall after Arab states cut ties with Qatar* Indexes down: Dow 0.01 pct, S&P 0.05 pct, Nasdaq 0.07 pct (Adds details, changes comment, updates prices)By Tanya AgrawalJune 5 (Reuters) - Wall Street was slightly lower in late morning trading on Monday as Apple dragged down...Read More
(Adds details, quotes, background)By Elena FabrichnayaMOSCOW, June 5 (Reuters) - Russia is considering placing a sovereign Eurobond issue a week after a key rate decision scheduled for June 16, a government source familiar with the plans told Reuters on Monday. Russia's finance ministry returned to the external debt market last year, raising a total of $3 billion in two tranches. VTB Capital, the...Read More
* TSX down 52.07 points, or 0.34 percent, to 15,390.68* All 10 of the TSX's main groups fall By Solarina HoTORONTO, June 5 (Reuters) - Canada's main stock index fell on Monday as financial stocks dipped amid signs of cooling in Toronto's overheated housing market and falling oil prices, weakened by concerns of a diplomatic rift in the Middle East, hurt energy stocks. At 11:08 a.m. ET (1508 GMT),...Read More
(Updates prices, adds comments)* Dollar recovers after Friday's fall to 7-month low* ECB expected to take benign view of economy on Thursday* Traders repurchase dollar to square positions* Sterling recovers after London attack* Graphic: World FX rates in 2017 By Sam ForgioneNEW YORK, June 5 (Reuters) - The U.S. dollar rebounded from a near seven-month low against the euro on Monday as traders dou...Read More
By Bruno FederowskiSAO PAULO, June 5 (Reuters) - The Mexican peso firmed to its strongest level in seven months on Monday after the ruling party fended off a leftist challenge in a key state election, reducing expectations of a defeat in the presidential elections next year.The Institutional Revolutionary Party (PRI) looked set to maintain its nine-decade hold over the central State of Mexico, the...Read More
(Kitco News) - Momentum is building on itself inthe gold market as hedge funds and money managers continue to add to their bullishpositioning, driving the price closer to a key psychological level.The disaggregated Commitments of Traders report for the week ending May 30 showed money managers increased their speculative gross long positions in Comex gold futures by 13,411 contracts to 175,304. At...Read More
LONDON, June 5 (Reuters) - Live coverage of European markets now available on cpurl://apps.cp./cms/?pageId=livemarketsSummary: ** Britain's FTSE edges down 0.2 pct amid election uncertainty** Madame Tussauds owner Merlin, EasyJet, IAG fall after London attack** Election gamble could cost betting companies as regulations tighten ** STOXX 600 on the back foot** Banco Popular weighs on European bank...Read More
WASHINGTON, June 5 (Reuters) - For details of the U.S. Treasury's auction of 4-week bills this week, see: (Washington economics team) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such...Read More
Stocks were mostly lower on Monday after a terror attack in London over the weekend, a slump in crude oil, and a rare analyst downgrade on Apple (AAPL) shares. The S&P 500 was down 0.02%, the Dow Jones Industrial Average was flat, and the Nasdaq increased 0.03%. Still, stocks held close to records with market reaction to terrorism appearing restrained and cautious. Wall Street largely ove...Read More
By Gertrude Chavez-DreyfussNEW YORK, June 5 (Reuters) - U.S. Treasury debt prices fell on Monday in thin trading, as investors booked profits after gains the previous session on a U.S. employment report that underwhelmed expectations and suggested a more cautious Federal Reserve policy beyond June.Bonds unwound some of last week's gains despite a terror attack in Britain over the weekend, with inv...Read More
LAGOS, June 5 (Reuters) - Nigeria's total debt rose to 19.15 trillion naira ($62.91 billion) as of March 2017, from 17.36 trillion naira at the end of last year, the Debt Management Office said on Monday.Africa's biggest economy, which slipped into recession last year for the first time in 25 years, raised $1 billion in February and $500 million in March from Eurobond sales.The government intends...Read More