(Kitco News) - Theconsultancy Metals Focus says gold’s recent “relief rally” has more room to runand could carry the metal over $1,300 an ounce in the months ahead, yetanalysts also do not project a sustained rally over the next year due to anumber of potential headwinds.Spot gold hit a three-month high just below $1,242 an ounce Friday, continuing a rallyfrom a series of daily l...Read More
NEW YORK (Reuters) - The dollar edged higher against the euro, on Monday, close to a 10-week high hit last week, on news German Chancellor Angela Merkel would not seek re-election as head of her CDU party.More broadly, the dollar added to recent gains against other major currencies, supported by robust U.S. consumer spending data on Monday.Merkel said she would not seek re-election as party chairw...Read More
NEW YORK, Oct 29 (Reuters) - Yields on U.S. Treasury bonds rose modestly on Monday morning as Wall Street recovered from a dramatic sell-off last week that drove demand for the safe-haven debt.U.S. equities have been rocked in October as companies reported that tariffs, rising borrowing costs and a slowdown in China hurt earnings in the third quarter and are expected to do the same in the fourth.T...Read More
TORONTO (Reuters) - U.S. cannabis retailer Curaleaf Holdings Inc CURA.CD opened lower in its trading debut in Toronto on Monday after amassing $400 million in the biggest equity raising in Canada’s marijuana industry.Curaleaf opened at C$8.70 on the Canadian Securities Exchange (CSE), compared with the offer price of C$11.45, which was near the top end of a previously disclosed range of C$8....Read More
The company produced an upgrade to 2018 gold production. This was the only good news in the report.I review the release's negative points.The company is playing fast and loose with the solvency issue.Eldorado gold (EGO) produced third quarter results on the 25th October and held its conference call on the 26th October. All information in this review comes from the release and the conference ca...Read More
A look at the best stocks to own in November, historicallyIt's been a rough October for the stock market, with the S&P 500 on pace for its worst month since May 2010. However, if recent history is any indicator, a pair of construction & materials stocks could be on the verge of a big November rebound: Vulcan Materials Company (NYSE:VMC) and A. O. Smith Corp (NYSE:AOS). Below we take a closer look...Read More
Mr. Derek White of Ascot reports ASCOT COMPLETES ACQUISITION OF THE ADJACENT SILVER COIN PROPERTY IN NORTHWESTERN BRITISH COLUMBIAAscot Resources Ltd.has completed the previously announced purchase of the Silver Coin propertylocated immediately adjacent to Ascot's Big Missouri project in northwestern British Columbia held by Jayden Resources Inc. and Mountain Boy Minerals Ltd. Derek White, presid...Read More
Oct 29 (Reuters) - Chicago Federal Reserve Bank President Charles Evans on Monday did not touch on monetary policy or the U.S. economic outlook in prepared remarks to an annual summit on regional competitiveness in Chicago, in which he called for local leaders to expand work opportunities amid a tight labor market. (Writing by Ann Saphir Editing by Chizu Nomiyama) Disclaimer: The views expressed...Read More
Zimbabwean gold producers may suspend operations because a foreign-exchange shortage has left them with insufficient funds to cover production costs, the main industry lobby group said.Curbing output would deprive the country of a key source of export earnings as Finance Minister Mthuli Ncube tries to stabilize an economy wrecked by the misrule of former leader Robert Mugabe. Producers are only al...Read More
LONDON (Reuters) - German bond yields rose on Monday on growing political uncertainty in the euro zone’s powerhouse economy, while Italy’s borrowing costs fell sharply on relief that Standard & Poor’s left its credit rating unchanged.German Chancellor Angela Merkel has told senior members of her Christian Democrats (CDU) that she will not seek re-election as party leader at a...Read More
(Kitco News) - Largespeculators have continued to exit from their one-time large net-bearish post ingold futures, trimming this by roughly two-thirds over the course of the lasttwo reporting weeks for data compiled by the Commodity Futures TradingCommission.“The gold price continued to recover accordingly in theperiod under review,” said analysts with Commerzbank. The move has occurred...Read More
DETROIT (Reuters) - U.S. auto sales likely fell slightly in October from a year earlier, when replacement demand following hurricanes Harvey and Irma boosted business, industry consultants J.D. Power and LMC Automotive said on Monday.“The year-over-year comparison is difficult as sales in October last year were inflated by vehicle replacement demand associated with Hurricanes Harvey and Irma...Read More
Oct 29 (Reuters) - Canada's main stock index bounced back from last week's sell-off to open higher on Monday, tracking gains in global stocks, partly due to relief over an unchanged rating on Italy.* At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 91.77 points, or 0.62 percent, at 14,980.03.Reporting by Amy Caren Daniel in Bengaluru; Editing by Arun Koy...Read More
WASHINGTON/SINGAPORE (Reuters) - Shortly after U.S. President Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them to cut oil purchases from the Islamic Republic to zero.The strategy is meant to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambition...Read More
Goldcorp (TSX:G) (NYSE:GG) received Monday C$5 million (about $3.8m) from the Canadian government for its Borden gold project, as part of the country's efforts to boost innovation in cleaner, more sustainable mining practices.Located near Chapleau, Ontario, about 160 km west of the company's Porcupine mine, Borden will be Canada's first fully-electric operation. By replacing all diesel mobile eq...Read More
WASHINGTON (Reuters) - U.S. consumer spending rose for a seventh straight month in September, but income recorded its smallest gain in more than a year amid moderate wage growth, suggesting the current pace of spending was unlikely to be sustained.The Commerce Department said on Monday consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4 percent last...Read More
LONDON (Reuters) - Oil prices inched lower on Monday as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.Brent crude oil futures LCOc1 were at $77.59 a barrel by 1225 GMT, down 3 cents from their last close, while U.S. crude futures CLc1 were down 6 cents at $67.53.Even with U.S. sanctions on Iranian exports due to come into force in under a week, oil...Read More
Dicerna Pharmaceuticals reports earnings later this week, tooThe shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) are trading near the top of the Nasdaq today, up 16.5% at $15.14. The gene-silencing expert just announced a licensing deal with Eli Lilly (LLY) that includes a $100 million investment at aprice of $18.47 per DRNA share, and another $100 million payment upfront. DRNA is also eligibl...Read More
RIO DE JANEIRO/BRASILIA (Reuters) - Jair Bolsonaro, a far-right firebrand former Army captain, won Brazil’s presidential election in convincing fashion, wooing voters with promises to gut endemic political corruption and wage a brutal battle against powerful drug gangs.Bolsonaro, who early in his legislative career declared he was “in favor” of dictatorships and demanded that Con...Read More
TOKYO (Reuters) - The Bank of Japan is considering tweaking its bond buying operations to allow the government debt market to better reflect fundamentals, people familiar with the matter said, following years of heavy central bank buying in the sector.The proposed changes, which focus on the way the BOJ times its bond purchases, would be aimed at reviving a market that many participants say has be...Read More