Trade data from the Australian Bureau of Statistics released this week has again confirmed the importance of the mining industry to the Australian economy and the continuing benefits of the mining boom.In 2017 Australia's resources exports, including minerals, metals and petroleum, posted a new record high value of $207 billion and accounted for 53 per cent of Australia's total goods and services...Read More
Healthcare company athenahealth, Inc (NASDAQ:ATHN) and industrial conglomerate General Electric Company (NYSE:GE) are in the news today, after former GE CEO Jeff Immelt was named chair of athenahealth's board of directors. Immet also purchased $1 million in ATHN common stock at the open. Below, we'll take a closer look at how ATHN and GE stocks are reacting.ATHN Stock Lower After Board Shake-UpA...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
JAKARTA, Feb 8 (Reuters) - Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would restrict exports to Indonesian vessels, an industry association said on Thursday.Jakarta issued rules in October requiring coal and palm oil exporters to use Indonesian-flagged vessels and Indonesian insurance companies, to b...Read More
Shares in Vedanta, the London-listed natural resources company controlled by one of India's richest men, fell as much as 5.5% on Thursday on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in Goa.According to the ruling, the process of renewing the cancelled permits in 2015 was against the law. As a consequence, the country's top court said that no...Read More
* Both exports and imports hit all-time highs in 2017* Vibrant domestic demand sucks in more imports* Shrinking trade surplus good news for Merkel* Data helps defuse criticism from Trump and others (Adds deputy economy minister, paragraph 14)By Michael NienaberBERLIN, Feb 8 (Reuters) - Germany's trade surplus fell last year for the first time since 2009, data showed on Thursday - a further sign th...Read More
(Kitco News)- Renewed growth in emergingmarkets (EM) will help drive gold prices higher, according to commodityanalysts from Goldman Sachs, who have significantly increased their forecastfor the yellow metal.In a report Thursday, the globalinvestment bank said that in three months, it see gold prices pushing to $1,350an ounce, in six month rallying to $1,375, and by next year it sees gold pricesat...Read More
(Kitco News) - Renewed growth in emerging markets (EM) will help drive gold prices higher, according to commodity analysts from Goldman Sachs, who have significantly increased their forecast for the yellow metal.In a report Thursday, the global investment bank said that in three months, it see gold prices pushing to $1,350 an ounce, in six month rallying to $1,375, and by next year it sees gold pr...Read More
E-commerce powerhouse Amazon.com, Inc. (NASDAQ:AMZN) will begin to deliver Whole Foods groceries to Amazon Prime Now members in select cities. The service is expected to expand across the U.S. later this year. In response, AMZN stock is up 1.1% at $1,433 in early trading.Looking broader, Amazon stock has gained more than 74% over the past year, and most recently touched a fresh record high of $1,4...Read More
Twitter Inc (NYSE:TWTR) reported its first profit ever in the fourth quarter, with adjusted earnings of 19 cents per share beating the average analyst estimate of 14 cents per share, while revenue of $731.6 million also topped expectations. Twitter also forecast a GAAP profit for all of 2018. Against this backdrop, TWTR shares are up 25.8% out of the gate to trade at $33.87 -- their highest level...Read More
The renewedweakness in equities has enabled gold to stabilize, says INTL FCStone. With theDow Jones Industrial Average down nearly 300 points in early trading, Comex April gold was up $2.20 to $1,316.80 as of 10:42 a.m. EST. INTL FCStone says“gold prices are up right now as weakness in the Dow seems to be steadying thecomplex somewhat,” adding that silver has also ticked higher. March...Read More
NEW YORK, Feb 8 (Reuters) - Philadelphia Federal Reserve President Patrick Harker said on Thursday he is open to the U.S. central bank raising key borrowing costs at its March policy meeting, in the wake ofmarket turmoil stemming from worries about rising inflation and interest rates."I'm open to a March rate increase," he told reporters after a speech delivered at a meeting of the Natio...Read More
Stock futures are higher this morning, after yet another volatile session yesterday. Dow Jones Industrial Average (DJI) futures are up over 100 points ahead of the bell, suggesting the index could retake the 25,000 level for the first time this week. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also higher ahead of the open,with help from earnings winners like Twitter (TWTR) and...Read More
Shares of robotic vacuum cleaner manufacturer iRobot Corporation (NASDAQ:IRBT) are about to get crushed when the market opens, with the stock already down 19.4% in electronic trading, likely due to the company's lower-than-expected full-year earnings outlook. On an adjusted basis, however, the company topped earnings estimates for the fourth quarter and revenue was well above analysts' forecasts....Read More
Feb 8 (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari told a town hall in Pierre, South Dakota that he does not think the Federal Reserve should raise rates unless wages and inflation start to take off, and the U.S. economy is a "long way" from that. With wage growth slow and inflation below the Fed's 2-percent target, "Why cool the economy down?" asked Kas...Read More
Royal Gold, Inc. (Nasdaq: RGLD)reports a net loss of $15 million, or 23 cents per share, despite increasedrevenue of $114 million in its fiscal second quarter that ended Dec. 31.“Second-quarter reported earnings reflected the impact of recently enacted U.S.tax legislation and a non-cash functional currency election,” the company says.Excluding these impacts, adjusted net income was $28...Read More
Goldman Sachs raised its gold price forecasts this Thursday. The investment firm now anticipates the price of precious metal at $1,350, $1,375, and $1,450/oz over the three, six and twelve months period respectively as against previous forecast of $1,225, $1,200, and $1,225/oz. The reason for the revision was more towards stronger emerging market growth, with more upward pressure also seen from st...Read More
Mr. John Burzynski reports OSISKO MINING PROVIDES QUEBEC EXPLORATION UPDATE Osisko Mining Inc. has provided an update on the progress of exploration at its 100-per-cent-owned Windfall Lake, Urban Barry and Quevillon gold projects located in the Abitibi greenstone belt, Eeyou Istchee James Bay, Quebec.Osisko has been conducting new exploration and definition drilling at Windfall for 26 months, sinc...Read More
Mr. John Burzynski reports OSISKO MINING PROVIDES QUEBEC EXPLORATION UPDATE Osisko Mining Inc. has provided an update on the progress of exploration at its 100-per-cent-owned Windfall Lake, Urban Barry and Quevillon gold projects located in the Abitibi greenstone belt, Eeyou Istchee James Bay, Quebec.Osisko has been conducting new exploration and definition drilling at Windfall for 26 months, sinc...Read More