(Kitco News) - Despite avoiding an imminent trade war with the U.S. oversteel and aluminum tariffs, Canada should not be breathing easier, thisaccording to Shark Tank star Kevin O’Leary.“I don’t think the long-term outcome of the negotiations isgoing to be better for Canada,” O’Leary told Kitco News. “For example, onsteel, what will probably end up in the NAFTA...Read More
U.S. Jobless Claims Indicate a Tight Labor MarketU.S. filings for unemployment insurance crept higher while the number of Americans on benefit rolls fell to the lowest level since 1973 in another indication of a tight job market, Labor Department figures showed Thursday.Highlights of Jobless Claims (Week Ended March 17)Jobless claims increased by 3k to 229k (est. 225k)Continuing claims&#...Read More
A combination of factors, which have had a profound impact on the U.S. equities markets, have resulted in U.S. equities trading dramatically lower and moving into corrective territory. These factors have also created bullish tailwinds for gold prices.As of 4:00 PM Eastern standard time, gold futures are trading up $7.50 on the day at $1,330 per ounce. Higher gold prices have moved in tandem with a...Read More
Global energy-related carbon dioxide emissions - the largest source of man-made greenhouse gas emissions - increased 1.4% in 2017 to reach a historic high of 32.5 billion tonnes, the International Energy Agency (IEA) has announced. The increase followed three consecutive years of emissions remaining flat.Global energy-related CO2 emissions, 2000-2017 (Image: IEA)The increase in carbon emissions "w...Read More
Base metals prices on the London Metal Exchange plummeted at the close on Thursday March 22, while the dollar index staged a recovery.Nickel prices were the worst affected closing 2.7% lower and trading at a low of $13,060 per tonne - its lowest since February 12. The metal is under pressure from poor underlying demand from Chinese stainless steel mills. "Stainless steel prices in China have strug...Read More
(Kitco News) - Gold futuresprices were ending the Thursday U.S. day session modestly up but well down fromdaily highs. Meantime, the cash gold market was weaker today following its bigafternoon gains on Wednesday. A firming U.S. dollar index today somewhatlimited buying interest in the precious metals markets. April Comex gold futures were last up $3.90 an ounce at $1,325.40. May Comex silver was...Read More
Main ConclusionsBritish Columbia's NDP government recently announced a series of new policies intended to lay the foundation for "universal", government-subsidized, $10-per-day daycare across the province.This major policy intervention seems unnecessary as there does not appear to be a wide -spread lack of daycare spots in British Columbia: as of 2016, the province-wide average daycare vacancy rat...Read More
Volatility is the key risk to lead and zinc prices for the next few years and traders should begin to hedge their risk, Oliver Nugent, commodity strategist at ING Bank, said on a panel at Metal Bulletin's Lead & Zinc conference in London on Thursday March 22. "Volatility is on the horizon and so much can happen - the lead and zinc prices are especially prone to this," he told delegates at the two-...Read More
The stock market is is more overvalued now than at any time in U.S. history. Sure, permabulls can cherry pick certain metrics that might make valuations appear to be reasonable. But these metrics rely on historical comparisons using GAAP accounting numbers that simply are not remotely comparable over time. Because of changes which have liberalized accounting standards over the last several decades...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
Shinichi SaoshiroTOKYO (Reuters) - Stock markets slid and perceived havens such as government bonds and the yen gained on Friday as investors rushed to safety after U.S. President Donald Trump announced long-promised tariffs on Chinese goods, stoking fears of a global trade war.Trump signed a presidential memorandum on Thursday that could impose tariffs on up to $60 billion of imports from China,...Read More
Pacific Empire Minerals (CN:PEMC) is no doubt hoping the positive sentiment for mining stocks continues as it expects to debut on the TSX Venture Exchange today.Staff reporterCopper-gold junior to debut22 MARCH 201822/03/2018commentsshareToronto's metals and mining sector closed 1.87% higher yesterday as most other sectors lost ground, and Australia's metals and mining sector on the S&P/ASX200...Read More
Rising zinc stocks on the London Metal Exchange could be an effect of "sluggish" conditions in China, Nicholas Snowdon, a metals analyst at Deutsche Bank, said at Metal Bulletin's Lead & Zinc conference in London on Thursday March 22. The largest zinc delivery in nearly five years hit the LME on March 5, with 78,950 tonnes delivered into New Orleans warehouses in one go. "If you look at the state...Read More
Richard CowanWASHINGTON (Reuters) - Legislation to fund the government beyond Friday, which was on a fast track toward passage by the U.S. Congress, hit a bump on Thursday as Republican Senator Rand Paul employed procedural delays while he hunkered down to read the 2,232-page tome.Earlier on Thursday, Republican leaders rushed the $1.3 trillion bill, which would fund the government until Oct. 1, t...Read More
China's stricter regime of environment controls was one of the key factors influencing fundamentals and prices in the Chinese ferro-alloys markets in 2017, and these controls will continue to affect supply and prices this year.This was the consensus of opinion among market participants during the 19th Asian Ferro-Alloys Conference, held in Hong Kong on Thursday March 22.Chinese President Xi Jinpin...Read More
CloseGain/LossGold $1328.30-$5.10Silver$16.39-$0.21XAU79.39-1.49%HUI171.70-1.60%GDM601.72-1.28%JSE Gold1089.96+23.19USD89.78+0.13Euro123.11-0.36Yen95.09+0.47Oil$64.30-$0.8710-Year2.821%-0.061T-Bond144.90625+1.40625Dow23957.89-2.93%Nasdaq7166.68-2.43%S&P2643.69-2.52% The Metals: Gold chopped between $1327.50 and $1333.80 in Asia before it fell to a new session low of $1324.80 in early after...Read More
- Gold gained 1.8% and silver 2.5% to $1,333/oz and $16.60/oz yesterday- Gold climbs as Fed increases interest rates by 0.25% - now 1.5% to 1.75% range- Dovish Fed Chair Powell plans fewer than expected rate hikes in 2018- Markets disappointed at lack of hawkish comments from new Fed Chair - Dollar LIBOR rises to highest level since November 2008 - $200 trillion worth of dollar-denominated fi...Read More
Lawyers acting for Hernic Ferrochrome have named Samancor Chrome as the preferred bidder for the distressed South African chrome producer, in a deal worth an initial 500 million South African rand ($42.4 million). The company went into business rescue in September 2017 and indicative bids were submitted in December. The purchase price for the asset is an aggregate amount of 500 million rand for th...Read More
SHANGHAI (Reuters) - China’s commerce ministry said on Friday that the country was planning measures against up to $3 billion of U.S. imports to balance U.S. tariffs against Chinese steel and aluminum products, amid a brewing trade war between the two countries.The country has put together a list of 128 U.S. products that could be targeted if the two countries are unable to reach an agreemen...Read More
Core Gold's Portovelo CIP processing plant in Ecuador. Source: Core Gold Inc.Core Gold Inc. [CGLD-TSXV; CGLDF-OTCQX] on Thursday March 22 announced plans for a Phase 1 exploration drilling program at its 100%-owned Copper Duke project in Ecuador. The program will be consist of 15,000 metres of drilling.The company said it has received the necessary exploration permit from the Ecuadorian Ministry o...Read More