Recent News

Golden Star Reports Two Fatalities At Prestea Underground Mine

January 02, 2018 / www.kitco.com

GoldenStar Resources (NYSE American: GSS;TSX: GSC;GSE: GSR) reports two fatalities occurred at its Prestea Underground GoldMine in Ghana. An initial investigation suggests that two employeessuccumbed to smoke inhalation following exposure to blasting gasses on Friday,the company says. Golden Star suspendedoperations at Prestea Underground for the initial investigation...Read More

Swedish SPES unemployment up slightly in December - Reuters calculation

January 02, 2018 / www.kitco.com

STOCKHOLM, Jan 2 (Reuters) - Sweden's unemployment rate as measured by the number of registered jobless inched up to 7.5 percent in December from 7.4 in November, a Reuters calculation based on data from the Swedish Public Employment Service (SPES) showed on Tuesday.SPES will publish its December figure on Jan. 11. Reuters' calculation is based on weekly data released by the agency.Open unemployme...Read More

How the Fed Stole the Santa Claus Rally

January 02, 2018 / www.schaeffersresearch.com

The books for 2017 are closed, but as we move into 2018, loyal readers of Monday Morning Outlook are fully aware that the year-end closing levels on major equity, volatility, commodity, and currency benchmarks -- along with their related exchange-traded funds (ETFs) -- could serve as key potential support and resistance levels. This could be the case at least early in 2018, and maybe throughout th...Read More

Smoke inhalation kills two miners in Ghana

January 02, 2018 / www.mining.com

Two underground mine workers succumbed to smoke inhalation sickness following exposure to blasting gasses at Golden Star's Prestea underground gold mine in Ghana on December 29.In a statement, Golden Star said it suspended operations at Prestea to allow for the initial investigation of the incident. The mine has now resumed full operation. Mine management and the Inspector of Mines are conducting...Read More

Smoke inhalation kills two miners in Ghana

January 02, 2018 / www.mining.com

Two underground mine workers succumbed to smoke inhalation sickness following exposure to blasting gasses at Golden Star's Prestea underground gold mine in Ghana on December 29.In a statement, Golden Star said it suspended operations at Prestea to allow for the initial investigation of the incident. The mine has now resumed full operation. Mine management and the Inspector of Mines are conducting...Read More

Gold Prices At 3-Mo. High On Slumping Greenback, Geopolitics

January 02, 2018 / www.kitco.com

(Kitco News) - Gold prices are up and hit a more-than-three-month high in early U.S. trading Tuesday.A slumping U.S. dollar index that hit a better-than-three-month low today isbullish for the precious metals markets. Gold and silver markets are alsoseeing safe-haven demand on heightened geopolitical risks. February Comex gold was last up $4.50 an ounce at $1,313.90. March Comex silver was last do...Read More

GLOBAL MARKETS-Dollar starts 2018 in doldrums, European stocks groggy

January 02, 2018 / www.kitco.com

* Asia shares ex-Japan cheered by upbeat China survey* Dollar downtrodden after suffering worst year since 2003* Commodities benefit from dollar weakness, China demand* Oil prices hover at highest since mid-2015* European shares squeezed down by currency strength* Wall Street expected to start 0.3 percent higher By Marc JonesLONDON, Jan 2 (Reuters) - The ailing dollar fell to its lowest in over t...Read More

FXTM: Gold Breakout 'Has Opened A Path Higher Towards $1,320'

January 02, 2018 / www.kitco.com

Gold priceshave hit a three-month high with the help of a vulnerable U.S. dollar, says Lukman Otunuga, research analystat FXTM. “With the dollar stumbling into the New Year under renewedselling pressure, gold is likely to remain heavily supported, with pricespotentially appreciating towards $1,320 this week,” the analyst says. “From atechnical standpoint, the yellow metal is bull...Read More

Bitcoin Daily Chart Alert - Bearish Triangle Pattern Has Formed - Jan 2

January 02, 2018 / www.kitco.com

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

Bitcoin Daily Chart Alert - Bearish Triangle Pattern Has Formed - Jan 2

January 02, 2018 / www.kitco.com

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

UPDATE 1-LeEco founder defies China return order, stays in U.S. for car fundraising

January 02, 2018 / www.kitco.com

(Updates with unit Leshi's statements in 8-9)SHANGHAI, Jan 2 (Reuters) - The founder of debt-laden tech conglomerate LeEco has defied orders from Chinese regulators to return to the country before the end of 2017, saying he needed to stay in the United States as a fundraising for his electric car business was making progress.The Beijing branch of the China Securities Regulatory Commission (CSRC)...Read More

Gold Continues To Shine As 2018 Begins

January 02, 2018 / www.kitco.com

(Kitco News) - Gold continues to findbuying interest on the back of continued dollar weakness and growinggeopolitical rhetoric from North Korea and Iran. An uptick in manufacturingdemand out of China continues to help the industrial metals, and the current cold snap in the U.S. Northeasthas helped maintain oil above $60. Technically,gold looks healthy and a break to the $1,322 level is possible, b...Read More

Gold Continues To Shine As 2018 Begins

January 02, 2018 / www.kitco.com

(Kitco News) - Gold continues to find buying interest on the back of continued dollar weakness and growing geopolitical rhetoric from North Korea and Iran. An uptick in manufacturing demand out of China continues to help the industrial metals, and the current cold snap in the U.S. Northeast has helped maintain oil above $60. Technically, gold looks healthy and a break to the $1,322 level is possib...Read More

Innogy flags cost cuts shortly after CEO resignation

January 02, 2018 / www.kitco.com

FRANKFURT, Jan 2 (Reuters) - German energy group Innogy on Tuesday said it was examining potential cost cuts across all segments, less than two weeks after its chief executive left in the wake of a profit warning."The Innogy Executive Board is currently reviewing discretionary spending across all segments for the potential to deliver further cost reductions," Innogy, which is majority-ow...Read More

Shorts Getting Squeezed And Starting To Panic

January 02, 2018 / www.kitco.com

The short squeeze in metalscontinues and it appears the shorts are starting to panic. The rally, as goodas it looks, is not very healthy and before it ends, gold could see $1,325 andsilver could see $17.20. That's the funny thing about short covering rallies;they look so good right before they collapse.Helping the rally has been thepressure in the cryptocurrencies, especially the Bitcoin, which ha...Read More

Shorts Getting Squeezed And Starting To Panic

January 02, 2018 / www.kitco.com

The short squeeze in metals continues and it appears the shorts are starting to panic. The rally, as good as it looks, is not very healthy and before it ends, gold could see $1,325 and silver could see $17.20. That's the funny thing about short covering rallies; they look so good right before they collapse. Helping the rally has been the pressure in the cryptocurrencies, especially the Bitcoin, wh...Read More

Chile's peso hits strongest level since May 2015

January 02, 2018 / www.kitco.com

SANTIAGO, Jan 2 (Reuters) - Chile's peso hit its strongest level since May of 2015 in early trading on Tuesday, bidding at 611.80 pesos per dollar.Chilean stocks and currencies posted sharp increases in 2017, bolstered by the victory of conservative billionaire Sebastian Pinera in last month's presidential election. (Reporting by Dave Sherwood) Disclaimer: The views expressed in this article are...Read More

FOREX-Euro hits four-month high as dollar begins year on back foot

January 02, 2018 / www.kitco.com

* Euro's 2-1/2 peak against dollar within sights* Commodity currencies rally again* MiFID II introduction weighs on volumes* Graphic: World FX rates in 2017 (Adds details, quote)By Tommy WilkesLONDON, Jan 2 (Reuters) - The euro traded close to its highest level in three years against a broadly weaker dollar on Tuesday, the first trading day of 2018, on optimism over a brightening economic picture...Read More

GLENCORE : Agrees to Sell Australian Coal Mine to GFG Alliance -- Update

January 02, 2018 / www.4-traders.com

By Robb M. StewartMELBOURNE, Australia--Glencore PLC (>> Glencore) has agreed to sell an underground coal mine in eastern Australia to GFG Alliance, an industrial conglomerate owned by Britain's Gupta family that last year picked up steel and iron-ore assets in the country. Financial terms for the acquisition of the Tahmoor mine weren't disclosed by the companies, which said Tuesday they expecte...Read More

India's top iron ore state to meet output target despite mine closures

January 02, 2018 / www.kitco.com

By Jatindra DashBHUBANESWAR, India, Jan 2 (Reuters) - India's top iron ore state is likely to produce 100 million tonnes of ore in the 2017/18 fiscal year, in line with its target, despite authorities ordering the closure of some mines, a senior government official told Reuters on Tuesday.The eastern state of Odisha suspended operations of seven mines after leaseholders failed to meet a deadline o...Read More

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