(Reuters) - The Dow Jones Industrial Average was set to breach the 25,000 mark for the first time on Thursday as upbeat economic data from around the world boosted sentiment.Dow futures 1YMc1 were trading 50 points short of the mark. The blue-chip index crossed 20,000 in early 2017, spurred by President Donald Trump’s pro-growth agenda.At 6:54 a.m. ET (1154 GMT), Dow e-minis 1YMc1 were up 72...Read More
(Kitco News)- The U.S. labor market lost a little momentum after the LaborDepartment report showing that weekly U.S. jobless claims rose by 3,000 to 250,000claims in the week to Saturday.Consensus expectations compiled by various news organizationscalled for initial claims to be around 241,000. The government revised priorweek's tally up by 2,000 to 247,000 claims.Meanwhile, the four-we...Read More
(Kitco News) - Metals dropped sharply yesterday after the release of theFOMC meeting minutes for December. The perception that the Fed presented a hawkish perspective generatedprofit taking in the metals and reversed the recent dollar weakness. I read theminutes a little differently. It appears there is growing concern within theFed of what the impact of aggressive rate increases will do to the ec...Read More
(Kitco News) - Gold and silver prices are trading moderately lower in early U.S. trading Thursday. Theprofit-taking pressure seen in the precious metals is not unexpected as goldhit a 3.5-month high Wednesday, while silver prices scored a five-week high. February Comex gold was last down $5.00 an ounce at $1,313.40. March Comex silver waslast down $0.107 at $17.16 an ounce.Thejust-released ADP nat...Read More
(Kitco News) - Metals dropped sharply yesterday after the release of the FOMC meeting minutes for December. The perception that the Fed presented a hawkish perspective generated profit taking in the metals and reversed the recent dollar weakness. I read the minutes a little differently. It appears there is growing concern within the Fed of what the impact of aggressive rate increases will do to th...Read More
(Kitco News)- The gold market is seeing continued selling pressureThursday after private-payrollsprocessor ADP reported stronger-than-expected job growth in the final month ofthe year.ADPsaid that 250,000 jobs were created in December. According to consensusforecasts, economists were expecting to see job gains of 191,000. The reportshows that December's employment gains were the strongest since Ma...Read More
LONDON, (Reuters) - Gold steadied on Thursday after hitting a 3-1/2 month high in the previous session as profit-taking set in amid worries over looming U.S. rate hikes, while palladium touched its highest ever levels on tight supplies and bets on growing demand.The dollar hit a 3-1/2 month low versus the euro amid optimism about the euro zone economy but gold, which tends to move counter to the g...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
Wednesday the FOMCdelivered minutes from the last Federal Reserve meeting. The minutes were aboutthe same as usual -- a lot of words that said nothing or confirmed how cluelessthe Fed is. When the minutes were delivered at 2 p.m. EST, markets had a verymuted reaction, but gold found itself under pressure.For 20 minutes, thesellers were back, and gold fell about $10. However, by the end of the day,...Read More
Wednesday the FOMC delivered minutes from the last Federal Reserve meeting. The minutes were about the same as usual -- a lot of words that said nothing or confirmed how clueless the Fed is. When the minutes were delivered at 2 p.m. EST, markets had a very muted reaction, but gold found itself under pressure. For 20 minutes, the sellers were back, and gold fell about $10. However, by the end of th...Read More
Further U.S.rate hikes have already been factored into the markets while there is potentialfor monetary tightening in Europe, all meaning potential for weakness in theU.S. dollar and conversely strength for gold in 2018, says Mitsubishi. Thedollar weakened in 2017 despite three Fed rate hikes. “Nonetheless the Fedhikes and strong growth had already been priced into the dollar, whereas econom...Read More
TORONTO, ONTARIO--(Marketwired - Jan. 4, 2018) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE MKT:DNN)(NYSE American:DNN) is pleased to announce that it has retained Stantec Consulting Inc. ("Stantec") and ENGCOMP Engineering and Computing Professionals Inc. ("ENGCOMP") to lead and author the Pre-Feasibility Study ("PFS") for the Wheeler River project, which is the largest undev...Read More
With VAT introduced on January 1, prices of most goods and services are set to rise by at least 5% UAE residents who have to pay value-added tax (VAT) on their gold purchases will find some comfort in retailers deciding to absorb the VAT costs for the month of January.Pure Gold Jewellers has announced that it will absorb VAT on all gold and diamond purchases from January 1 to 31, 2018.With VAT int...Read More
Meet Globe 24-7 at one of the world's premier technical mineral exploration conferences, AME's Mineral Exploration Roundup 2018 will take place in beautiful Vancouver, BC. Every year, explorers from around the world come together to share their latest findings, stories, successes and innovative ideas to further the exploration industry.As the industry gains momentum, and sees a resurgence in many...Read More
Central bankers discussed reasons to speed up, slow down hikesDebate also focused on risks of a flattening yield curveBloomberg's Chris Condon reports on the takeaways from the FOMC December meeting minutes.Federal Reserve officials in December debated the risks to the U.S. economic outlook, with some concerned about low inflation and others pointing to robust growth that was about to get a furthe...Read More
Stocks refuse to go down, even when Trump and Bannon declare war on one another as it appeared on Wednesday. The Dow Jones Industrial Average, the S&P 500 and Nasdaq jumped to new records on Wednesday, Jan. 3, as global markets continued to ride a bullish wave powered by synchronized growth and accelerating corporate profits. The Dow Jones Industrial Average was up 0.40% to finish at 2...Read More
The Dow Jones Industrial Average, the S&P 500 and Nasdaq set intraday record highs on Wednesday, Jan. 3, as global markets continued to ride a bullish wave powered by synchronized growth and accelerating corporate profits. The Dow Jones Industrial Average gained 57 points, or 0.23%, and hit an intraday high of 24,894. The S&P 500 rose 9.6 points and topped 2,700 for the first t...Read More
European stocks rebounded firmly Wednesday, while U.S. equity futures pointed to another set of records on Wall Street as global markets continue to ride a bullish wave powered by synchronised growth and accelerating corporate profits. The Stoxx 600 Europe index, the region's broadest measure of share prices, added 0.24% in the opening two hours of trading, driven in part by solid gains for...Read More
While it's pulled back a bit since New Year, the price of copper ended 2017 near a four-year high of $3.30 a pound ($7,260 per tonne) extending the bull run in the red metal for a second year. Measured from its multi-year lows struck at the beginning of 2016, copper has gained more than 70% in value.The rally for zinc has been even more spectacular with the metal, mainly used to galvanize steel, e...Read More