* Nikkei, Topix post biggest weekly drop since early February* Canon falls to lowest level since Feb 2017 on forecast cut* Mazda Motor drops after media report on new NAFTA rulesBy Hideyuki Sano and Ayai TomisawaTOKYO, Oct 26 (Reuters) - Japanese shares posted their biggest weekly loss in more than eight months on growing worries over earnings of domestic firms, with camera maker Canon disappointi...Read More
TORONTO (Reuters) - Barrick Gold Corp (ABX.TO) could have nine of the world’s top gold mines in a relatively short time under its $6.1 billion acquisition of African miner Randgold Resources Ltd (RRS.L), Barrick Executive Chairman John Thornton said Thursday.Barrick and Randgold will focus on Tier 1 assets, ones that produce 500,000 ounces of gold annually, have a mine life of more than 10 y...Read More
MIAMI (Reuters) - Federal authorities investigating the pipe bombs sent to prominent Democrats and critics of U.S. President Donald Trump are focusing on Florida, where they believe at least some of 10 packages originated.A police bomb squad and canine units joined federal investigators on Thursday to examine a sprawling U.S. mail distribution center at Opa-Locka, northwest of Miami, Miami-Dade Co...Read More
DUBAI/ISTANBUL (Reuters) - Saudi Arabia’s public prosecutor said on Thursday the murder of journalist Jamal Khashoggi in the kingdom’s Istanbul consulate this month was premeditated, reversing previous official statements that the killing was unintended.The death of Khashoggi, a Washington Post columnist and critic of de facto Saudi ruler Crown Prince Mohammed bin Salman, has sparked 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
Thursday gold was relativelyflat, but the miners got crushed. For some reason, the gold bears decided tosell the miners like they were going to zero. Once again, it looks like theaggressive selling was a huge mistake.None of the miners were safe,with most falling 5% to 10%. It appeared that the sellers were chasing theshort-covering dead-cat bounce in equities. In the pre-market this morning, them...Read More
(Kitco News)- Yamana Gold Inc. (TSX: YRI; NYSE: AUY) late Thursday reported a dip inits third-quarter profit but hiked guidance for gold and copper production infull-year 2018.The company also announced an agreement to sell itsinterest in the Gualcamayo mine in Argentina to Colombia-based Mineros S.A.Excluding specialitems, adjusted earnings were $23.6 million, or 2 cents per share, compared to$29...Read More
(Kitco News)- SocieteGenerale is “cautiously bullish” on gold prices, looking for the metal toaverage $1,250 an ounce in the fourth quarter and $1,275 in the first quarterand for all of 2019.Thebank released an updated forecast Thursday ahead of next week’s gathering ofthe London Bullion Market Association. The bank said its outlook has notchanged materially since the one issued...Read More
Marlin Gold Mining (TSX-V: MLN) issued a media statement today saying that as a result of heavy rainfall caused by Hurricane Willa, which made landfall on Mexico's Pacific coast as a Category 3 on Oct. 23, a significant amount of water has accumulated inside one of the pits at its La Trinidad gold mine located in the northwestern state of Sinaloa, 42 kms southeast of Rosario.Marlin Gold explained...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Lupaka Gold (TSXV: LPK) denounced today that operations its Invicta Gold Development Project, which is located some 120 kilometres north of the Peruvian capital, have been impacted by an ongoing demonstration organized by a group of residents of the nearby community of Paran.According to the Canadian miner, the protesters have blockaded the access road directly outside of the main gate of the mine...Read More
Meet the innovative company crushing the competition.Nothing's hotter than this stock right now.Professional sports franchises and celebrities across the globe are pumped about it. Even Justin Bieber and his group are excited. The next wave of giant sportswear companies is going to be based on this new "tech" apparel industry and its potential to reshape both the apparel and technological landscap...Read More
* LME copper stocks at lowest in nearly 13 years * Global equities head for worst week in more than 5 years * Nickel hits lowest since Dec, aluminium lowest since lastAugust (Adds closing prices, details)By Maytaal AngelLONDON, Oct 26 (Reuters) - Copper fell 1 percent on Fridayas global equities headed for their worst week in more than fiveyears, overshadowing a supply shortage of the metal buildi...Read More
* Robust GDP could send dollar higher * Euro under pressure after ECB's Draghi fails to boostconfidence * Australian dollar hits a near 33-month low * Yen strengthens as investors seek safety from equitylosses * Graphic: World FX rates in 2018 (Adds detail on safe-havens, updates prices)By Tom FinnLONDON, Oct 26 (Reuters) - The dollar rose to a 10-week highon Friday as investors waited to see if U...Read More
* Stocks set for worst losing streak since 2013 * U.S. Q3 economic growth slows less than expected * Palladium slips off record highs hit on Tuesday (Updates prices, adds comments, details)By Swati VermaBENGALURU, Oct 26 (Reuters) - Gold prices rose on Fridaytowards the three-month highs hit earlier this week as nervousinvestors retreated from stock markets and piled into theprecious metal seen as...Read More
Trump may be facing an uphill battle he can't win in 2020.He's a successful businessman who never held public office before winning the Presidency...He's coming into power after an electoral college landslide...And he did it by beating an out-of-touch New Yorker opponent.Once in office, he launches a vast trade war, promising to stand up for America's heartland, with 890 increased tariffs in total...Read More
South Africa's Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Friday it had concluded a proposed deal with Canada's Regulus Resources (TSX-V: REG), and its newly formed subsidiary Aldebaran Resources, to jointly unlock value at the Altar copper-gold project, in Argentina.The precious metal miner said it benefitted from the transaction by obtaining upfront proceeds of $15 million while retaining a d...Read More
South Africa's Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Friday it had concluded a proposed deal with Canada's Regulus Resources (TSX-V: REG), and its newly formed subsidiary Aldebaran Resources, to jointly unlock value at the Altar copper-gold project, in Argentina.The precious metal miner said it benefitted from the transaction by obtaining upfront proceeds of $15 million while retaining a d...Read More
(Adds detail)FRANKFURT, Oct 26 (Reuters) - Euro zone prices are expectedto continue growing at 1.7 percent per year until 2020 despiteweaker underlying inflation and economic growth, a EuropeanCentral Bank survey showed on Friday.The ECB confirmed a day earlier plans to wind down its 2.6trillion euro ($2.96 trillion) stimulus programme at the end ofthis year and raise interest rates sometime after...Read More
Christopher Lewis20 hours agoSilver markets have calm down a bit after rallying significantly from the $14 level, and it now looks as if we are probably going to see a bit of sideways action in the short term as the EMA is flattening. If we can break above the $15 level, then the market could go to the $15.50 level, but I think it’s going to take a bit of US dollar weakness, something that...Read More