Oil futures are set to snap a 10-day losing streakFutures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are lower today, ahead of a likely a low-volume session, with bond markets and banks closed as the U.S. marks Veterans Day. However, investors are still eyeing a rebound in oil prices, after Saudi Arabia announced it would cut its output in Decembe...Read More
Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP.: THAILAND SUCCESSFUL APPRAISAL WELL L53-DD2Pan Orient Energy Corp.'s L53-DD2 appraisal well has encountered an interpreted combined approximately 32 metres of net oil pay within four separate sandstone reservoirs between a true vertical depth of 1,044 metresto 1,105 metres. This interpretation was based on conventional open hole wire line logs, hydr...Read More
Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP.: THAILAND SUCCESSFUL APPRAISAL WELL L53-DD2Pan Orient Energy Corp.'s L53-DD2 appraisal well has encountered an interpreted combined approximately 32 metres of net oil pay within four separate sandstone reservoirs between a true vertical depth of 1,044 metresto 1,105 metres. This interpretation was based on conventional open hole wire line logs, hydr...Read More
LONDON (Reuters) - Oil rose by more than 1 percent on Monday, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day.Saudi Arabia, the world’s largest oil exporter, said on Sunday it would cut its shipments by half a million barrels per day in December due to seas...Read More
NEW YORK/HOUSTON (Reuters) - Bakken crude prices are set to weaken from already low levels in coming months, with the frigid winter in North Dakota likely to disrupt rail loadings and worsen bottlenecks as production soars, traders and executives said.U.S. oil producers ramped up production in the nation's third-largest oilpatch, boosting crude output to a record 1.3 million barrels per day (bpd)...Read More
WASHINGTON (Reuters) - When Democrats take control of the U.S. House they plan to investigate the Trump administration’s attempt to block AT&T Inc (T.N) from acquiring Time Warner, and whether officials sought to punish Amazon.com Inc (AMZN.O) by prodding the U.S. Post Office to hike shipping prices for the world’s largest e-commerce company, a senior Democrat and a congressional a...Read More
LONDON (Reuters) - The pound held near a 10-day low on Monday as the twin forces of a resurgent dollar and reduced expectations of a Brexit deal fuelled a selloff.In volatile trading, sterling fell to a 1-1/2 week low of $1.2827 as negative headlines over the last 48 hours punctured growing optimism last week that an agreement between Britain and the European Commission was imminent.“While s...Read More
* Italian yields edge higher as Banca Carige preps cash call* Italy defiant before Tuesday deadline for revised budget* German bond yields hit new lows on Italy, Brexit uncertainties* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds detail on Banca Carige, industrial output data)By Abhinav RamnarayanLONDON, Nov 12 (Reuters) - Italy’s government bond yields inched up on Monday a...Read More
SINGAPORE/MANILA (Reuters) - China will further open its economy in the face of rising protectionism, Premier Li Keqiang said as he arrived in Singapore on Monday for meetings with Asia-Pacific leaders that will focus on speeding up work on a major new trade pact.Li’s remarks in an article in Singapore’s Straits Times newspaper came as Singapore’s Prime Minister Lee Hsien Loong c...Read More
Bulls should seek a move back above SPY $280 before getting aggressive"[W]e prefer to see a roll-over in the equity-only, buy-to-open put/call volume ratio before declaring the risk-reward scenario is favoring the bulls. Such patience likely means you will not catch the exact bottom, but it will also keep you out of situations like last week, in which bounces prove only temporary. Coincident with...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
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 U.S. dollar rally has resumed in the wake of last week’s meeting ofthe Federal Open Market Committee, says Brown Brothers Harriman. “U.S. rates are headedhigher, while event risk in the euro zone and the U.K. remain in place,” BBHsays. Analysts say the news flow this week is expected to be dollar-supportive. Consensusestimates call for the October U.S. Consumer Price Ind...Read More
The U.S. dollar rally has resumed in the wake of last week’s meeting of the Federal Open Market Committee, says Brown Brothers Harriman. “U.S. rates are headed higher, while event risk in the euro zone and the U.K. remain in place,” BBH says. Analysts say the news flow this week is expected to be dollar-supportive. Consensus estimates call for the October U.S. Consumer Pric...Read More
Mr. Peter Grosskopf reportsPRECIOUS METAL INDUSTRY LEADERS APMEX AND SPROTT LAUNCH ONEGOLD, FIRST ONLINE MARKETPLACE TO SECURELY BUY, SELL AND REDEEM DIGITAL GOLD AND OTHER PRECIOUS METALSAPMEX Inc. and Sprott Inc. have launched the OneGold website, the first on-line marketplace to securely and conveniently buy, sell and redeem digital gold and other precious metals. Both partners bring decades of...Read More
Mr. Peter Grosskopf reportsPRECIOUS METAL INDUSTRY LEADERS APMEX AND SPROTT LAUNCH ONEGOLD, FIRST ONLINE MARKETPLACE TO SECURELY BUY, SELL AND REDEEM DIGITAL GOLD AND OTHER PRECIOUS METALSAPMEX Inc. and Sprott Inc. have launched the OneGold website, the first on-line marketplace to securely and conveniently buy, sell and redeem digital gold and other precious metals. Both partners bring decades of...Read More
(Kitco News) - Gold prices aremodestly down and hit a four-week low in early U.S. trading Monday, pressuredby a very strong U.S. dollar on the foreign exchange market. Silver prices arealso slightly down and hovering near a two-month low. December gold futures were last down $2.70 an ounce at $1,205.90. December Comex silver was last down$0.05 at $14.09 an ounce. Globalstock markets were mixed ov...Read More
The manipulation theorists have more fodder due to a recent development.Manipulation did not cause the standard market correction between 2011 and 2016.Market sentiment is the main driving factor in the metals market.There were several developments in the gold market this past week. First, we heard of another trader who has pleaded guilty to "manipulating" the metals market. And, everyone is up in...Read More
Mr. Glen Williams reportsSPROTT ANNOUNCES 2018 THIRD QUARTER RESULTSSprott Inc. has released its financial results for the three months ended Sept. 30, 2018. Financial overview (three-month results): Assets under management (AUM) were $10.1-billion as at Sept. 30, 2018, compared with $11.1-billion as at June 30, 2018.Investable capital stood at $193 million as at Sept. 30, 2018, compared with $29...Read More
Mr. Glen Williams reportsSPROTT ANNOUNCES 2018 THIRD QUARTER RESULTSSprott Inc. has released its financial results for the three months ended Sept. 30, 2018. Financial overview (three-month results): Assets under management (AUM) were $10.1-billion as at Sept. 30, 2018, compared with $11.1-billion as at June 30, 2018.Investable capital stood at $193 million as at Sept. 30, 2018, compared with $29...Read More