Oil prices had a huge dayStocks rallied today, taking their cue from a surge in oil prices following President Donald Trump's decision to pull the U.S. from the Iran nuclear deal. Thanks to a strong second-half push, the Dow closed the day well into triple-digit-gain territory, overcoming Walt Disney's (DIS) weak earnings reaction and Walmart's (WMT) M&A-related sell-off. For economic data, trader...Read More
Kinross Gold Corp. is the latest miner to be hit by changing policies in Africa as governments seem increasingly willing to upend historic deals with foreign companies in their quest for more mining revenue.Mauritania's rejection of a key permit to expand a Kinross project, and a proposed mining code review in Ghana, dealt a double blow to the Toronto-based miner, sending its shares down the most...Read More
(Reuters) - U.S stocks advanced on Wednesday as a surge in oil prices boosted energy stocks following President Donald Trump’s decision to withdraw the United States from a nuclear deal with Iran.Oil hit its highest level in 3-1/2 years as investors worried that Trump’s decision would increase risks of conflict in the Middle East and curtail oil supplies in a tight market.The energy in...Read More
The comments below are an edited and abridged synopsis of an article by Mark O'ByrneThe cost to the US government of borrowing money for a decade approached 3% last week. If the US 10-year Treasury yield breaches 3%, it will be at a level not seen since 2013.If bond yields are turning up (having reached unprecedentedly low levels), what does that imply? There are 3 main options.One: The US Treasur...Read More
CloseGain/LossGold $1311.80-$2.60Silver$16.49+$0.01XAU82.38-0.35%HUI180.27-0.50%GDM632.77+0.05%JSE Gold1090.34+12.48USD93.12+0.02Euro118.51-0.14Yen91.21-0.48Oil$71.14+$2.0810-Year3.005%+0.031T-Bond142.53125-0.84375Dow24542.54+0.75%Nasdaq7339.91+1.00%S&P2697.79+0.97% The Metals: Gold fell $9.60 to $1304.80 in Asia before it climbed up to $1317.30 in late morning New York t...Read More
UPCOMING RISK EVENTS:USD: PPI m/m, Core PPI m/m.EUR: N/A.GBP: N/A.JPY: N/A. GOLDMy Bias: Long to a new all time high above 1827.Wave Structure: Impulse structure to a new high.Long term wave count: wave [iii] above 1666.GOLD has been very quiet of late,Even todays announcement by the U.S administration to scrap the Iran deal,has had little impact on GOLD traders!The evidence all points...Read More
The Bank for International Settlements has just published, on the same day, its monthly statement of account for March 2018 as well as its monthly statement for April 2018:https://www.bis.org/banking/balsheet/statofacc180331.pdfhttps://www.bis.org/banking/balsheet/statofacc180430.pdfFrom these statements it is possible to deduce that during March the BIS reduced by about 165 tonnes its use of go...Read More
Horizonte plc, which acquired the Vermelho project from Vale, is exploring whether the project can produce nickel and cobalt sulfate suitable for electric vehicle (EV) batteries, it said on Wednesday May 9. Mining company Horizonte acquired the Brazil-based nickel-cobalt project for $8 million in December 2017. "The Vermelho project also contains a large cobalt resource which Vale planned to...Read More
Mexican authorities have granted Canada's First Majestic Silver (NYSE:AG) (TSX:FR) their antitrust clearance to go ahead with its planned acquisition of fellow miner Primero Mining (TSX:P), in a cash and stock deal valued at $320 million, including debt.The approval was the final government agency's permission the parties required to close the deal, Primero said in a statement.With the friendly...Read More
WMT bought a controlling stake in India's e-tailer FlipkartUnder growing pressure from Amazon (AMZN), Walmart Inc (NYSE:WMT) said it paid $16 billion for a 77% controlling stake of Indian e-tailer Flipkart. The deal is the biggest ever for the U.S. retailer, with the company saying it could lower its full-year per-share earnings by 25 cents to 30 cents. In reaction, WMT shares are trading down 2.5...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
The comments below are an edited and abridged synopsis of an article by Investing StrategiesSome say we are in a roaring economy looking for continued growth, especially considering how low interest rates are. But retired Kentucky congressman and one-time presidential contender Ron Paul says we're in a big fat bubble that's about to pop.One reason Paul believes the equity market will decline is th...Read More
Full Description and comments at: https://www.peakprosperity.com/podcas...Nomi Prins, Wall Street veteran turned financial industry reformist returns to the podcast this week to explain the findings within her new book Collusion: How Central Bankers Rigged The World.Nomi has put together a timeline of exactly when and how the central banks have plundered the wealth of the masses since 2008, either...Read More
Gold now has limited downside (20%) but substantial upside (650%)Gains on gold are likely to come at a time when stocks are crashingInvestors and savers without an allocation to gold will be wiped outTime to consider saving in physical gold? Editors noteby James Rickards, Daily ReckoningFollowing the Panic of 1907, John Pierpont Morgan was called to testify before Congress in 1912 on the subject...Read More
The Dollar Index has rallied for three weeks without a significant correction, raising the odds that April's 89.23 low could turn out to be a very important one. Notice as well that the dollar's romp has exceeded numerous prior peaks, including no fewer than one 'internal' and two 'externals' labeled in the chart. From a 'Hidden Pivot' perspective, this defines the rally as a powerful 'impulse l...Read More
Conditions may be in place for increased demand and increased prices for a number of commodities. In this interview with Streetwise Reports, Frank Holmes, CEO of U.S. Global Investors, discusses the commodity supercycle and the factors behind it, why some commodities may get more of a boost than others, and ways investors can profit.The Gold Report: Frank, thank you for joining us today. Let's tal...Read More
British Columbia's mining industry remains upbeat in 2017, as prices for most metals and minerals produced in the province continue to steadily recover from multi-year lows. Although most commodity prices remain below the record highs seen in 2011, the recent increases are part of an upward trend in the mining cycle, according to PwC Canada's 50th edition of their annual report on the mining indu...Read More
TWLO is eyeing its best day since 2016 after earningsStocks are surging today, as oil prices continue to climb. Retail giant Sears Holdings Corp (NASDAQ:SHLD) and cloud stock Twilio Inc (NYSE:TWLO) are soaring, while airliner American Airlines Group Inc (NASDAQ:AAL) is grounded. Here's a closer look at what has shares of SHLD, TWLO, and AAL moving today.Sears Stock Higher After Scoring Amazon Tire...Read More
Saikat Chatterjee, Ritvik CarvalhoLONDON (Reuters) - The dollar’s near-5 percent rally against a basket of currencies in the space of just three weeks has brought it up against some critical technical levels, which could give fresh legs to the greenback if successfully broken.The initial catalyst was the realization that some of the world’s biggest central banks, notably the European C...Read More
CloseGain/LossGold $1311.80-$2.60Silver$16.49+$0.01XAU82.38-0.35%HUI180.27-0.50%GDM632.77+0.05%JSE Gold1090.34+12.48USD93.12+0.02Euro118.51-0.14Yen91.21-0.48Oil$71.14+$2.0810-Year3.005%+0.031T-Bond142.53125-0.84375Dow24542.54+0.75%Nasdaq7339.91+1.00%S&P2697.79+0.97% The Metals: Gold fell $9.60 to $1304.80 in Asia before it climbed up to $1317.30 in late morning New York t...Read More