(Kitco News) - For two years the silver market has been quiet, from a longer-term chart perspective. This sideways price action seen on the weekly continuation chart for nearby Comex silver futures is "basing" activity that history shows puts in market bottoms--and is very likely to set off a big rally at some point down the road. Silver prices at present levels are a longer-term, value-...Read More
(Kitco News) - Large speculators hiked their bullish positioning in silver futures by nearly nine-fold and also upped their net long in gold by a more modest 9% during the most recent reporting week for data compiled by the Commodity Futures Trading Commission.During the week-long period to June 12 that was covered by the report, Comex August gold slipped by $2.80 to $1,299.40 an ounce, while July...Read More
Friday was an ugly day for the metals, with gold falling almost $30 and silver almost 60 cents. It was the old “throw the baby out with the bathwater,” as there was no place to hide. The sellers started early and never took their foot off the gas. The move caught us off guard and changed the dynamics of the overall pattern in gold. It once looked like the bottoms were in but now the $1...Read More
SAVANNAH, Ga. (Reuters) - The U.S. economy “appears to be in a pretty good place” that should let the Fed continue its steady program of raising interest rates, Atlanta Federal Reserve bank president Raphael Bostic said on Monday.Bostic said the Fed’s target policy rate was “getting close” to a neutral setting in which it is neither encouraging nor discouraging spendi...Read More
(Kitco News) - After the Fed gave a more hawkish perspective on Wednesday, followed by the ECB announcement on Thursday that it would be year-end before they were looking to tighten, forex traders aggressively bought the dollar. There was a delayed reaction until Friday, but metals traders having initially disregarded the 250 bip drop in the euro finally capitulated on gold. Gold's inability to br...Read More
The investment climate faces a challenging environment due to U.S. monetary/fiscal policies, trade tensions and immigration issues, says Brown Brothers Harriman. “All three of the major central banks met last week and confirmed that monetary policy would continue to diverge for at least another year,” BBH says. “The clarity of the trajectory of monetary policy reduces the impact...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
PARIS (Reuters) - When French President Emmanuel Macron laid out a sweeping vision for eurozone reform last September, he spoke of “rebuilding Europe”, with a common budget for the euro nations and a single minister to oversee it all.The proposals he will discuss when he sits down with German Chancellor Angela Merkel outside Berlin on Tuesday will be far less ambitious, with deep diffe...Read More
Chinese silicon export prices continued to weaken over the past week amid slack demand from downstream producers, while the European market was once again unchanged due to a lack of significant trading activity.The Chinese silicon export market weakened further in the week ended Friday June 15, with prices continuing to fall amid limited buying interest, particularly from secondary aluminium alloy...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade. Futures are responding to growing trade war concerns.Blackrock (BLK $524.52) is expected to open higher after Citigroup upgraded the stock to Buy from Neutral.Zillow dropped $2.57 to $63.00 after Goldman Sachs downgraded the stock to Neutral.Valeant dropped $1.29 to $25.57 after the FDA...Read More
The Brazil has imposed anti-dumping duties in imports of welded austenitic stainless steel pipes imported from Malaysia, Thailand and Vietnam.Duties will vary from $367.56 per tonne to $888.27 per tonne, according to an announcement by the country's Ministry of Industry and Foreign Trade and Services published on Thursday June 14.Welded stainless pipes exported to Brazil by Malaysia's Pa...Read More
Turkish domestic auto bundle and shipbreaking scrap prices remained stable over the past week due to the majority of market players keeping their buying prices flat, sources said on Monday June 18.Long steel producer Ege ??elik reduced its buy price for auto bundle scrap by TRY100 ($21) per tonne to TRY1,440 per tonne last week. While ID?? increased its buy price by TRY70 per tonne to TRY1,470 per...Read More
TORONTO, June 13, 2018 (GLOBE NEWSWIRE) -- Amarillo Gold Corporation (TSX.V:AGC) ("Amarillo" or the "Company") today announces that the Company will be presenting at the MicroCap Conference on June 21st in Toronto and at the John Tumazos Conference in New Jersey June 28th, 2018.The MicroCap Conference is an exclusive event for investors who specialize in small and microcap stocks. The Conference...Read More
June 18, 2018 - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") is pleased to announce a maiden Mineral Resource estimate for its Osiris Project at the Rackla Gold Property, Yukon.The Osiris Project is 100%-owned by ATAC and is located outside of the area currently under option to Barrick Gold Corporation ("Barrick"). The resource estimate for the Osiris Project was completed by Mine Development Associat...Read More
CALGARY, Alberta, June 18, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”), raising aggregate gross proceeds of $1,200,000 through the sale of 12,000,000 units (each a “Unit”) at a...Read More
Colorado School of Mines was recently ranked the best university in Colorado for employment after graduation by career site Zippia and Fox31 Denver spoke with a recent graduate and Jean Manning-Clark, director of the Mines Career Center, about what makes Mines students so special.Zippia used information from the Integrated Postsecondary Education Data System and CollegeScoreCard to rank the U.S. s...Read More
Australia's Lucapa Diamond (ASX:LOM) said Monday it had made $2 million after selling a new parcel of diamonds found at its prolific Lulo mine in Angola.Together with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa sold 1,782 carats at an average price of $1,150 per carat.Sale has taken gross sales proceeds from the Angola-based mine so far this year to $15.9 million.The sa...Read More
Australia's wealthiest woman and mining tycoon, Gina Rinehart, became Monday the third party interested in buying Atlas Iron this year after offering A$390 million ($290 million) in cash for the junior miner.The bid, made by Redstone Corporation Pty Ltd, a wholly?EUR?owned subsidiary of Rinehart's Hancock Prospecting, comes only a week after news emerged that Redstone had accumulated a 19...Read More
Investment activity in Australia's iron ore arena might be building again to fever pitchRead full newsRead More
A clearer picture is emerging around how the business of legal cannabis will look in Canada and the United States, but amid the consolidations, there is also a frenzy of cross-listing activity as companies stake out territory in this growing market.Even in states where cannabis is legal, produce...Read full newsRead More