The US Nuclear Regulatory Commission (NRC) has approved the issuance of combined construction and operating licences (COLs) for the two proposed AP1000 reactors at Florida Power and Light's (FPL's) Turkey Point plant in Florida. The utility has yet to make a final decision on whether to proceed with building the units.How Turkey Point 6 and 7 could appear adjacent to the existing plant (Image: FPL...Read More
STR/AFP/Getty ImagesThe large U.S. trade deficit has become a flashpoint between President Trump and China. Worsening trade tensions are making U.S. investors very nervous. The numbers: The U.S. trade deficit rose 1.6% in February to reach nearly a 10-year high, underscoring the seemingly near impossible task of the Trump administration to dramatically reduce the gap as the president has vowed....Read More
The United States has sanctioned and frozen the assets of Oleg Deripaska and UC Rusal that are subject to US jurisdiction, prompting bullish sentiment and expectations of tightness in the US aluminium market, industry participants told Metal Bulletin."All assets subject to US jurisdiction of the designated individuals and entities, and of any other entities blocked by operation of law as a result...Read More
(Kitco News)- The underlying focus for the gold market remains the worryabout a potential trade war with China. It was a matter of time beforePresident Trump's ego forced him to respond to China's comment on Wednesdaythat they had won round one of the tariff salvo. Last night, President Trump proposedanother $100billion to the list of tariffincreases on the Chinese and the gold market prompt...Read More
Peninsula Energy Ltd (ASX:PEN) produced 43,638 pounds of uranium from its Wyoming-based Lance Project during the three months to March 31, 2018.This represented a quarter-on-quarter increase of 12% and was a catalyst for an increase of almost 10% in Peninsula Energy's shares to an intra-day high of 24 cents.Managing director Wayne Heili said: "The most recent quarter continues our precedent of ach...Read More
Aluminium prices on the London Metal Exchange had rallied by 2.2% at the close on Friday April 6 following the announcement that the United States has sanctioned and frozen Oleg Deripaska's assets subject to US jurisdiction,which includes Rusal.The three-month aluminium price closed at $2,042 per tonne, its highest since before the Easter break. "[Aluminium made] a late charge to $2,055 per t...Read More
Hedge Funds are Short Silver FuturesSilver is More Likely to Rise than Gold on a Break OutHedge Funds are Long Gold futures and OptionsGold prices have made it back into the headlines as a tit-for-tat trade war perpetuates between the Trump White House and China. Despite claims from Trump that this is not a trade war, and that any war with China on trade was lost decades ago, the back and forth na...Read More
The United States has sanctioned and frozen Oleg Deripaska's assets subject to US jurisdiction, the US Treasury said in a release on Friday April 6. The department designated Deripaska, who stepped down as president of both UC Rusal and EN+ in February, as a Russian oligarch. Deripaska is a non-executive director on EN+. The department said in the release he has acted or purportedly acted...Read More
The Commitments of Traders (CoT) report provides a snapshot of futurespositions held by both large and small commercial hedgers and speculators, showingwhat positions big money traders are taking in a number of financial andcommodity markets. This report, released each Friday by the CFTC at 3:30pm EST,allows the small investor to get a glimpse of what larger traders are doing andto possibly situat...Read More
Hot Market Stats to Know Right Now Via @BrianSozzi Bitcoin is poised to end another dreadful week. The crypto is on pace to notch a 6% drop for the week, and is currently trading at about $6,586.Respectable rally in the NYSE FANG+ Total Return Index off the late March lows. At 2,480, the index is up about 3% from its lows. It closed above both the 50-day and 100-day moving averages early in the...Read More
This week we have watched themetals continue to churn in a range and mentioned that they may have found ahigher low with a new support level. On Thursday, gold sold off hard, tradingbelow the $1,330 support but closing right near support.Overnight President Trump startedtalking tariffs and trade wars again, sending equities reeling down over 400 pointsat one point. Gold barely budged on the news a...Read More
Adam HamiltonArchivesApr 06, 2018 Silver has been dead money over the past year or so, relentlessly grinding sideways to lower. That weak price action has naturally left this classic alternative investment deeply out of favor. Silver is extremely undervalued relative to gold, while speculators' silver-futures positions are extraordinarily bearish. All this has created the perfect breeding ground t...Read More
CloseGain/LossOn WeekGold $1333.00+$6.70+0.54%Silver$16.36-$0.03+0.12%XAU81.54+0.09%+0.52%HUI177.59+0.71%+1.24%GDM616.10+0.66%+0.61%JSE Gold1118.06+32.49-0.83%USD90.10-0.38+0.04%Euro122.83+0.45-0.17%Yen93.61+0.51-0.47%Oil$63.54-$1.48-2.16%10-Year2.777%-0.059+1.28%Bond146.03125+1.125-0.26%Dow23932.76-2.34%-0.71%Nasdaq6915.11-2.28%-2.10%S&P2604.47-2.19%-1.38% The Metals: Gold fell $6 to $132...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
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort234,67768,08852,011162,608351,473449,296471,572Change from Prior Reporting Period -24,35512,410-11,3855,165-32,330-30,575-31,305Traders18068734757261168 Small Speculators LongShortOpen Interest 43,84521,569493,141 -5,974-5,244-36,549 non reportable positionsChange from the previo...Read More
As bitcoin and its thousand or so cousins evolve from novelty to threat, the existing monetary system is reacting pretty much as evil empires tend to, with coercion and co-optation. This week it's India: India cracks down on bitcoin and hints it may launch its own digital currencyThe Reserve Bank of India (RBI) has initiated a crackdown on cryptocurrencies such as bitcoin, even as it considers a p...Read More
- JPMorgan Chase CEO Jamie Dimon sees 'chance of market panic'- In annual letter to shareholders Dimon warns of increased inflation and interest rates- Concerned QE unwinding could cause chaos as 'markets will get more volatile'- Hard to look at the last 20 years in America "and not think that it has been getting increasingly worse."- Positive about US economy over next year, but ignores record...Read More
NEW YORK (Reuters) - U.S. stocks extended losses and the S&P 500 hit a session low in Friday afternoon trading after Federal Reserve Chairman Jerome Powell said the U.S. central bank will likely need to keep raising interest rates to keep inflation under control.In a speech in Chicago on the U.S. economic outlook, Powell said the labor market appeared close to full employment. It was his first...Read More
Aphria Inc.'s (TSX:APH) expansion adds 200,000 sq ft of production space and triples Aphria's production capacity from 9,000 kg to 30,000 kg annuallySmallCapPower | April 6, 2018: Aphria Inc. (TSX:APH) Thursday provided an operational update on Part III expansion of its Leamington facility. The update follows Health Canada approval, which was announced on March 13, 2018. The expansion adds 200,000...Read More
View from Anomoly A – Photo courtesy Garibaldi Resources Corp.These shares, in addition to shares that were previously acquired through an Ontario numbered company in December 21, 2017 means Sprott beneficially controls 17.3 million shares of Garibaldi and 4.7 million warrants, representing 17.1% of the company on a non-diluted basis and approximately 20.8% on a partially dilute basis.That's...Read More