(Kitco News)- Gold's luster is starting to tarnish for the University of Texas, as its endowment fund said that it is reviewing its gold holdings, worth about $1 billion, according to Bloomberg News.The Bloomberg article quoted Britt Harris, the new chief executive officer at Utimco, saying, "We're in no rush to sell, but it may not be a long-term strategic hold."The comments were made d...Read More
Shares of retail concern Urban Outfitters, Inc (NASDAQ:URBN) notched an annual high of $38.06 on Tuesday, but have since pulled back to test their rising 40-day moving average ahead of earnings next week. If past is precedent, it could be time to bet on URBN's next leg higher, as previous retreats to this trendline have had bullish implications for the stock.According to Schaeffer's Senior Quant...Read More
Short sellers seem to have made a major mistake by picking on Planet Fitness Inc. (NYSE:PLNT). The stock earlier this week touched a record high of $38.32 after the company once again blew away analysts' estimates in the earnings booth, posting a top- and bottom-line beat, with same-store sales growth increasing year-over-year. And just for good measure, the fitness chain issued a 2018 outlook tha...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
Gary J. Goldberg was appointed President and Chief Executive Officer and joined the Board of Directors of Newmont Mining Corporation on 1 March 2013.DENVER, March 1, 2018 - Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced that its President and Chief Executive Officer, Gary J. Goldberg, received the Charles F. Rand Memorial Gold Medal for his leadership and contributions t...Read More
• Bullish USD sentiment continues to exert downward pressure. • Traders shrug off risk-off mood/weaker US bond yields. • Powell’s second testimony eyed for fresh impetus. Gold extended its steady decline through the mid-European session and is currently placed at fresh three-week lows, around $1310 area. The US Dollar has...Read More
The Dow Jones Industrial Average (DJI) has traded in a 300-point range on both sides of breakeven today, but was last seen trading in positive territory -- on track to snap its recent losing streak. Wall Street is reacting to a fresh round of economic data, which includes a modest rise in the personal consumption expenditures (PCE) index -- a key measure of inflation the Fed follows -- while the...Read More
The numbers: Construction spending was virtually unchanged in January, but from an upwardly revised December baseline of $1.26 trillion annual rate, the Commerce Department said Thursday. What happened: Outlays on construction remain strong. Overall spending in 2017 was about 4% higher than in 2016, and touched an all-time high. January spending was led by the public sector, which increased...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Wall Street is cheering Salesforce.com, Inc.'s (NYSE:CRM) fourth-quarter results this morning, as the stock rallies to record highs. The cloud services provider posted quarterly profit and revenue that topped expectations, and its current-quarter top- and bottom-line forecasts were also better than expected. According to Thomson Reuters, this is the eighth straight quarter the tech company's beat...Read More
Shares of Novavax, Inc. (NASDAQ:NVAX) have jumped 16.1% to trade at $2.51 -- fresh off an annual high of $2.75 -- after the drugmaker reported positive early stage study results for its flu vaccine, NanoFlu, in patients 60 years or older. NVAX stock has now nearly doubled in value on a year-to-date basis, putting the pressure on stubborn analysts to upwardly revise their ratings.In fact, of the ei...Read More
Rates for home loans churned higher as investors braced for more interest rate increases and inflation quickened. The benchmark 30-year fixed-rate mortgage averaged 4.43% during the week ending March 1, according to Freddie Mac's weekly survey, out Thursday. That was up three basis points from the prior week and leaves rates nearly half-a-percentage point higher than the level at which they starte...Read More
Retail earnings have been in the spotlight this week, with Macy's (M) and Best Buy (BBY) among the companies scoring earnings wins. Today, we will look at Gap Inc (NYSE:GPS) and Nordstrom, Inc. (NYSE:JWN) stocks ahead of the retailers' earnings reports tonight, and how options traders are expecting much bigger-than-usual reactions this quarter. Gap Surrounded By Pre-Earnings SkepticismGap stock t...Read More
FAANG stocks have been making headlines this week, and today, all eyes are on streaming service Netflix, Inc. (NASDAQ:NFLX), which announced a partnership with U.K.-based pay-TV concern, Sky. As part of the deal, Sky -- which is the center of a fierce buyout battle between two media giants --will add NFLX to its subscription bundle for Sky European users. On the charts, NFLX has had a great year...Read More
Walmart Inc (NYSE:WMT) stock is trading lower after the retailer announced it will stop selling firearms and ammunition to persons under the age of 21. This comes just one day after a similar move from Dick's Sporting Goods (DKS), which ended the sale of its assault-style rifles and high-capacity magazines. WMT shares were last seen down 1.1% at $89.03. The equity scored a record high of $109.98...Read More
Mr. Cooper Quinn reportsDRILL ASSAY RESULTS FROM MITCHELL LAKE ZONE RETURN 9.26 G/T GOLD OVER 0.5 METRES AND A BROADER DISSEMINATED INTERCEPT OF 30.50 METRES GRADING 0.70 G/T GOLDOsprey Gold Development Ltd. has released assay results from three holes drilled on the western portion of the Goldenville property in the Mitchell Lake zone. The company's Goldenville property is located in Guysborough c...Read More
Gold's main driver, fear, is a double-sided coin.Gold's price can suffer during stock market declines, but not for long.Latest bout of global market jitters paves the way for next gold rally.It's widely known among gold investors that one of the metal's biggest drivers is safety-related demand among investors who worry about the outlook for equities or the economy. Indeed, we've witnessed...Read More
Futures on the Dow Jones Industrial Average (DJI) are trading below fair value this morning, signaling a third consecutive day of losses. Traders will turn their attention back to Fed Chair Jerome Powell, who will again be testifying before Congress. Ahead of this, Wall Street is weighing a surprising drop in weekly jobless claims, while personal incomes and wages rose in January, and consumer inf...Read More
Mr. Jeffrey Pontius reportsCORVUS GOLD DRILLS 30.5 METRES OF 2.05 G/T INCLUDING 12.2 METRES OF 4.45 G/T GOLD EXPANDING MOTHER LODE DEPOSIT TO THE EASTCorvus Gold Inc. has received additional results from two of four holes evaluating the eastern extension of the Mother Lode deposit.Results indicate mineralization continues to expand the system to the east (see attached table).The Eastern extension...Read More
• USD firmness continues to weigh on the commodity. • Fed rate hike prospects add to the downward pressure. • Investors keenly wait for the second round of Powell’s testimony. After yesterday's brief pause, gold came under some renewed selling pressure on Thursday and dropped to three-week lows in the last hour....Read More