Thousands of political, business and cultural leaders are heading now towards Davos, Switzerland, to attend the World Economic Forum. On the eve of the world's biggest annual gathering of the rich and powerful, the International Monetary Fund released its newest world economic outlook. What are the forecasts – and their implications for the gold market? Global Expansion Weakens We...Read More
A research report by Wood Mackenzie asserts that electrification and automation will be a key priority for global mining companies as they try to move away from fossil fuels.The document, Global Trends: What To Look For In 2019, states that to reach such a goal, major firms are employing data analytics that allow them to improve productivity and efficiency at a low cost."Building a world-class low...Read More
The billionaire investment titan warns there's a "significant risk" of a possible economic recession in the United States in 2020.Dalio, co-CIO and co-chairman of Bridgewater Associates, says, "It's going to be globally a slow up. It's not just the United States."But the billionaire investment titan also says a pause in Fed rate hikes makes it possible to "extend the equilibrium."Matthew J. Belved...Read More
There's also bearish activity in the options pits todayUnited States Steel Corporation (NYSE:X) is slated to report earnings after the market closes next Wednesday, Jan. 30, and brokerage Jefferies is expecting the company's numbers to disappoint. The firm lowered its opinion on X shares to "hold" and cut its price target to $24 from $27, saying flat steel margins have been under pressure, which c...Read More
They say that there are no atheists in fox holes. Recently it has also become clear there are no monetary hawks in bear markets.For much of the last decade many conservative market analysts have decried our reliance on monetary stimulus to prop up the economy and the stock market. But in the final months of 2018, in the face of the worst stock market declines in a decade, many of these supposedly...Read More
Existing home sales fell to a three-year low last monthThe Dow Jones Industrial Average (DJI) is more than 185 points lower on concerns surrounding the global economy. Specifically, China reported its slowest economic growth in 28 years, and the International Monetary Fund (IMF) cut its growth forecast for this year and next. Adding to that, traders are digesting disappointing data from the Nation...Read More
Option traders are betting on more downside for the sinking sharesThe shares of CRISPR Therapeutics AG (NASDAQ:CRSP) are getting hammered today, after the company entered an agreement with Germany's ProBioGen to research and develop gene-editing technology. Meanwhile, Citigroup poured salt in the proverbial CRSP wounds, downgrading the stock to "sell" from "neutral," and cutting its price target b...Read More
Ford Motor will report earnings after the close tomorrowEarnings season is hitting high gear, and one of the first auto names due up is Ford Motor Company (NYSE:F), scheduled to report fourth-quarter earnings after the close tomorrow, Jan. 23. F stock has been more volatile than usual lately, per its 30-day historical volatility of 45.7% -- in the 95th annual percentile -- and the options market...Read More
South Africa-based explosives leader BME will be showcasing its African presence, expertise and technology at the 2019 Investing in African Mining Indaba from February 4th to 7th in Cape Town; it will also highlight its strengthened presence in West Africa, which is poised to become one of the top five gold-producing regions in the world."The mood is even more buoyant than it has been in previous...Read More
Roxgold (TSX: ROXG; US-OTC: ROGFF) expects its Yaramoko mine in Burkina Faso will produce between 145,000 and 155,000 ounces this year at cash costs of $440-$470 per oz. and all-in sustaining costs of $765-795 per oz.The company expects to have a strong year with the addition of Yaramoko's second high-grade underground mine, Bagassi South, which is expected to reach commercial production in the se...Read More
GOLD Spot gold regained traction and bounced from Asian low at $1277, as renewed risk-off mode on IMF downgrade of global growth forecast increased safe-haven demand. Fresh gains struggle to return above rising 20SMA ($1284), close above which is needed to complete Doji reversal pattern on daily chart and shift near-term focus towards $1287 (10SMA) and $1292 (Friday's high). Flat momentum and...Read More
New Jersey Mining (CNSX: NJMC; US-OTC: NJMC) has intersected gold mineralization at its Paymaster Shoot in Idaho's Coeur D'Alene district grading as high as 70.3 grams gold over 0.35 metres. The company drilled both holes to extend gold mineralization down dip from exploratory holes it drilled at Paymaster in 2012.Paymaster is the next mineralized zone south of the Skookum Shoot, part of the compa...Read More
• Pessimism over global growth hits risk sentiment and underpin demand for safe-haven assets. • Sliding US bond yields offset a modest USD uptick and remained supportive of the up-move. Gold staged a goodish rebound from closer to over two-week lows, set in the previous session, and for now seems to have snapped three consecutive days of losing streak...Read More
Bearish betting has been picking up speed on the retail stockAnalysts at Goldman Sachs are adjusting ratings on retail stocks today. For Gap Inc (NYSE:GPS), this meant a downgrade to "sell" from "neutral" and price-target cut to $23 from $27, with the brokerage firm citing concerns over slowing brand momentum. At last check, GPS stock is down 2.6% at $25.26, retreating from a trendline with histor...Read More
As financial market volatility subsides, many think gold will suffer.Even as confidence returns, however, gold can still remain buoyant.Concerns over the global outlook will keep gold's fear factor intact.A question being asked by participants as global markets rebound is whether the gold price can maintain its upward trend? That gold benefited from the extreme financial market volatility late...Read More
The FDA weighed in on the company's SMA treatmentThe shares of Cytokinetics, Inc. (NASDAQ:CYTK) are down 1.3% at $6.76 in earlytrading, reversing pre-market gains, despite theFood and Drug Administration's (FDA) sign-off on the "Six Minute Walk Test" (6MWT) as the primary endpoint for a reldesemtiv registration program among patients with spinal muscular atrophy (SMA) who have maintained ambulator...Read More
* Thousands march to protest wages at gold operations* Union hands over lists of demands* Threatens "full on strike" at firm's platinum site* Sibanye says management considering demandsJOHANNESBURG - A South African union representing just under half of all workers at Sibanye-Stillwater's platinum mine will extend a one-day strike if the company does not return to the negotiating table, its presid...Read More
Both stocks just grabbed their highest closes in weeksNike Inc (NYSE:NKE) shares notched their highest close since October on Friday, and they're on the rise again today. Cowen and Company upgraded its opinion on the blue chip to "outperform" from "market perform" and boosted its price target to $90 from $80. In the note, analysts said they expect gross margins to improve for the company, helped i...Read More
Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said.The announcement comes amid a tax dispute between the state and Acacia Mining Plc, in which the government is demanding $190 billion in penalties, after claiming the company had under-declared export revenue since...Read More
There's a better potential haven than gold for investors spooked by the risk of a recession this year - mid-sized producers who've outperformed both bullion and the rest of the mining industry.Companies including Canada's Kirkland Lake Gold Ltd. and Australia's Northern Star Resources Ltd. have scope to extend gains and should be in focus for investors looking for a safe harbor, according to Joe F...Read More