Since thebeginning of last year, precious metal stocks have been badly lagging the gold price. At the beginning of 2017, gold was trading well below $1175, while theGDX was at roughly the same level it is trading today with bullion firmly above$1300. During healthy precious metal bull markets, the miners typicallyoutperform the gold price by 2x to 3x. However, untilgold closes above $1375 on a mon...Read More
(Kitco News) - Gold and silver prices have dropped to their daily lowsin morning trading Friday. The metals were pressured when the U.S. stock marketopened solidly higher. However, look for stock indexes to be volatile againtoday, which is likely to work in favor of the precious metals market bulls,especially if the volatility favors the downside. Aprilgold was last down$3.80 an ounce at $1,315.10...Read More
Since the beginning of last year, precious metal stocks have been badly lagging the gold price. At the beginning of 2017, gold was trading well below $1175, while the GDX was at roughly the same level it is trading today with bullion firmly above $1300. During healthy precious metal bull markets, the miners typically outperform the gold price by 2x to 3x. However, until gold closes above $1375 on...Read More
West Africa-focused gold producer Avocet Mining (LON:AVM) has finally concluded the three-times delayed sale of some key assets in Burkina Faso for $5 million to Ghana-based Balaji Group, a move that should avoid a looming bankruptcy.The $5-million deal includes the Inata gold mine and the Souma exploration project.The transaction, which includes the Inata gold mine and the Souma exploration pro...Read More
West Africa-focused gold producer Avocet Mining (LON:AVM) has finally concluded the three-times delayed sale of some key assets in Burkina Faso for $5 million to Ghana-based Balaji Group, a move that should avoid a looming bankruptcy.The $5-million deal includes the Inata gold mine and the Souma exploration project.The transaction, which includes the Inata gold mine and the Souma exploration pro...Read More
NEW YORK, Feb 9 (Reuters) - The dollar clung to its earlier gains against a basket of currencies on Friday as Wall Street's major indexes opened higher a day after a massive sell-off knocked the Dow and S&P 500 down into correction territory. At 9:41 a.m. (1441 GMT), the index that tracks the greenback against six major currencies were up 0.18 percent at 90.394, The Dow was up 0.75 percent at...Read More
Amid swinging stock futures, shares of FireEye Inc (NASDAQ:FEYE) have jumped 13.6% in electronic trading, after the cybersecurity company reported an adjusted fourth-quarter profit of 1 cent per share -- its first since going public in 2013 -- citing cost-cutting measures and its new subscription-based structure. FEYE also gave better-than-expected full-year guidance.Wall Street has been quick to...Read More
Stock futures have swung wildly this morning, suggesting another volatile session could be in store. After falling into correction territory yesterday,Dow Jones Industrial Average (DJI) futures are trading above fair value, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointed higher. As of yesterday's close, the Dow is on track to post its worst weekly loss since October 2008, while...Read More
Goldman Sachs is upbeat on commodities despite recent weakness,looking for gold to be among the markets that rise. Following financialmarkets, commodity prices sold off sharply over the past week, with the S&PGSCI down 5.6% from the Jan. 26 peak. “This sell-off, however, was less thanthe 10.2% decline in the S&P 500,” Goldman says. “Ironically, the catalystfor the equity...Read More
Goldman Sachs is upbeat on commodities despite recent weakness, looking for gold to be among the markets that rise. Following financial markets, commodity prices sold off sharply over the past week, with the S&P GSCI down 5.6% from the Jan. 26 peak. “This sell-off, however, was less than the 10.2% decline in the S&P 500,” Goldman says. “Ironically, the catalyst for the eq...Read More
WASHINGTON (Reuters) - The budget deal passed by U.S lawmakers early on Friday will alleviate the spending fights that marked President Donald Trump’s first year in office, but sets the stage for a battle over immigration and who is to blame for exploding deficits ahead of November’s congressional elections.In the short term, reducing the risk of government shutdowns could help Trump a...Read More
(Kitco News) - Gold and silver prices are trading not far from unchanged in early morning dealingsFriday. The metals are pausing in keen anticipation of the opening of the U.S.stock market. U.S. stock indexes late Thursday took a nosedive, so many lookfor very volatile trading in the early going Friday, which is likely to spillover into other markets. April Comex gold futures were last down $0.30...Read More
Uranium Energy Corp Acquires the Diabase Project in the Athabasca Basin and Appoints Darcy Hirsekorn as District GeologistCanada NewsWireCORPUS CHRISTI, TX, Feb. 9, 2018Read More
Uranium Energy Corp Acquires the Diabase Project in the Athabasca Basin and Appoints Darcy Hirsekorn as District GeologistCanada NewsWireCORPUS CHRISTI, TX, Feb. 9, 2018Read More
Gold has a strong track-record as a store of value by preserving spending power over long periods of time.Gold investment is typically motivated to hedge risk while return chasing is a large impetus for bitcoin buyers.Gold is a physical asset with demand rooted in consumer and industrial applications beyond its role in the financial system.12Click to enlargeNotes: Read More
(Bloomberg) Adani Enterprises Ltd. can't catch a break.The Indian conglomerate trying to build one of the world's largest coal mines has already had its own funding bid for a rail line stymied by the Queensland state government. Now, a funding proposal for another line that could carry its coal to the coast for export has been canned.Rail operator Aurizon Holdings Ltd., which hoped to build a c...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 equity markets are under siege and every major sector is in correction territory for the first time in two years. Energy, materials, tech, and financials are getting creamed. Treasury bonds are in a bear market, and gold is running in place but losing ground every day. The safety assets are not offering much security, especially the Treasuries as they get pounded daily with rising rates. For y...Read More
The equity markets are undersiege and every major sector is in correction territory for the first time intwo years. Energy, materials, tech, and financials are getting creamed.Treasury bonds are in a bear market, and gold is running in place but losingground every day.The safety assets are notoffering much security, especially the Treasuries as they get pounded dailywith rising rates. For years go...Read More
* Euro headed for worst week since October* Dollar backs off four-month lows vs yen* Strategists say dollar weakness here to stay despite rally* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 9 (Reuters) - The dollar rose on Friday to extend its recent gains while the euro was headed for its worst weekly performance since Nov. 2016 after the global stock market sell-off squeezed invest...Read More