(Kitco News) - Gold prices ticked up after the index for current general activity in the Philadelphia Federal Reserve’s manufacturing business outlook survey posted a decline to 22.2 in October following a rebound to 22.9 in September, suggesting slightly slower economic growth. The consensus expectations compiled by news organizations were for a reading of somewhere around 19.7.Gold prices...Read More
(Kitco News) - Gold prices ticked up after the index for current general activity in the Philadelphia Federal Reserve’s manufacturing business outlook survey posted a decline to 22.2 in October following a rebound to 22.9 in September, suggesting slightly slower economic growth. The consensus expectations compiled by news organizations were for a reading of somewhere around 19.7.Gold prices...Read More
(Kitco News) - Gold remained roughly steady Thursday after Labor Department datashowed that initial weekly U.S. jobless claims fell by 5,000 to aseasonally adjusted 210,000 in the week to Saturday. Comex December gold was last up 60 cents to$1,228 an ounce.Consensus expectations compiled by various news organizations hadcalled for initial claims to be around 210,000 to 215,000. The gover...Read More
Thursday's declines add to the market's steep losses for the month. The Dow and S&P 500 have fallen more than 4 percent each, while the Nasdaq is down nearly 7 percent in October.Among the reasons for selling on Thursday, according to investors, were worries about the U.S.-China trade war, rising interest rates and lingering worries about possible overvalued U.S. tech stocks.Fred Imbert| @foim...Read More
(Kitco News) - Gold prices aretrading near unchanged in early U.S. trading Thursday. This week's pause, orsideways trading on the daily chart, is normal given the solid gains scoredlast week. Bulls appear to be readying for their next upside advance. December goldfutures were last up $0.40 an ounce at $1,227.90. December Comex silver waslast down $0.103 at $14.56 an ounce. Globalstock markets were...Read More
Gold’s recent move back above $1,220 anounce may signal a turning point for the precious metal, as investor buying haspicked up, says Standard Chartered. Prices must still break up through a numberof technical-chart levels to reach the psychologically important1,300-per-ounce level, Standard says. “We continue to believe price risks areskewed to the upside, particularly as $1,220/oz wa...Read More
Gold’s recent move back above $1,220 an ounce may signal a turning point for the precious metal, as investor buying has picked up, says Standard Chartered. Prices must still break up through a number of technical-chart levels to reach the psychologically important 1,300-per-ounce level, Standard says. “We continue to believe price risks are skewed to the upside, particularly as $1,220/...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 proved that $1,180 was agreat support level and now is trying to confirm a higher low at $1,220. Thebreakout through the $1,220 level was a classic blow-off trade -- continuedfailure at a level and then an explosion through as we saw on Oct. 11.After making higher lows, whichset up the big move higher, gold is repeating that same pattern, and ourexpectations are to see the pattern repeat. Blo...Read More
Canada's Solaris Copper, which spun out of Equinox Gold in June, received a shot in the arm on Thursday as Freeport McMoRan (NYSE: FCX) has agreed to a deal that would give the US miner up to 80% in the Vancouver company's early stage Ricardo property, in Chile.The option agreement, Solaris said, provides for a three-staged process by which Freeport can earn up a majority interest in the Chilean...Read More
Canada's Solaris Copper, which spun out of Equinox Gold in June, received a shot in the arm on Thursday as Freeport McMoRan (NYSE: FCX) has agreed to a deal that would give the US miner up to 80% in the Vancouver company's early stage Ricardo property, in Chile.The option agreement, Solaris said, provides for a three-staged process by which Freeport can earn up a majority interest in the Chilean...Read More
* Report says nickel pig iron output is rising in China * Copper dips to one-week low * Zinc only metal in positive territory on stocks fall(Updates with closing prices, adds nickel balance data)By Eric OnstadLONDON, Oct 18 (Reuters) - Nickel hit a one-month low onThursday, with copper and lead prices also in the red, asinvestors worried about Chinese growth and higher U.S. interestrates.Zinc, mea...Read More
(Updates prices, adds comments and chart) * Inflows to gold funds show positive sentiment - analyst * Dollar index near one-week high* Silver and platinum slip to lowest in a week By Sumita Layek and Arpan VargheseBENGALURU, Oct 18 (Reuters) - Gold edged higher on Thursday,supported by an improved technical outlook that helped the metalhold out against a stronger dollar.Spot gold rose 0.1 percent...Read More
Gold breaks higher.Silver remains below resistance.Silver tried to encourage gold lower in September but failed.Silver could attract a speculative herd.USLV could be a good short-term bet, but use a stop if it starts going south.Gold and silver have long histories as a means of exchange or hard money. The precious metals have been around a lot longer than the fiat currencies we use each day to pay...Read More
(Updates domestic closing price, adds details)SHANGHAI, Oct 18 (Reuters) - China's yuan closed at itsweakest in more than 21 months against a broadly stronger dollaron Thursday, as the U.S. Federal Reserve's hawkish stance oninterest rates and the U.S. Treasury's failure to label China asa currency manipulator gave traders confidence to drive the yuanlower.The onshore spot yuan ended the day at 6....Read More
* SSEC loses 2.9 pct, touches lowest point since Nov 2014 * CSI 300 down 2.4 pct, energy sub index drops 4.9 pct * Shares pledged for loans become a concern for investors By Noah SinHONG KONG, Oct 18 (Reuters) - Chinese stocks fell sharply onThursday as heavy selling in the energy sector and worries aboutthe levels of borrowing in the stock market added to broaderconcerns over growth and the globa...Read More
* Pound at 10-day low after May comments on Irish border * Retail sales weaker than expected, also weigh on currency * Graphic: World FX rates in 2018* Graphic: Trade-weighted sterling since Brexit vote (Writes through after May comments, updates prices)LONDON, Oct 18 (Reuters) - The pound fell to intraday lowsin late Thursday trade, as summit talks in Brussels failed toresolve a Brexit standoff b...Read More
Researchers at the University of California - Berkeley have discovered that a bacterium named Moorella thermoacetica produces solar fuels through artificial photosynthesis in a very efficient way when fed with gold.In a paper published in Nature Nanotechnology, the scientists explain that by placing light-absorbing gold nanoclusters inside the CO2-hungry bacterium, they have created a biohybrid sy...Read More
Researchers at the University of California – Berkeley have discovered that a bacterium named Moorella thermoacetica produces solar fuels through artificial photosynthesis in a very efficient way when fed with gold.In a paper published in Nature Nanotechnology, the scientists explain that by placing light-absorbing gold nanoclusters inside the CO2-hungry bacterium, they have created a biohyb...Read More
Researchers at the University of California - Berkeley have discovered that a bacterium named Moorella thermoacetica produces solar fuels through artificial photosynthesis in a very efficient way when fed with gold.In a paper published in Nature Nanotechnology, the scientists explain that by placing light-absorbing gold nanoclusters inside the CO2-hungry bacterium, they have created a biohybrid sy...Read More