Gold has been surging as traders seek safe-haven assetsGold prices have been climbing, as investors seek out safe havens amid the recent surge in stock market volatility. After gaining 1.4% last week, December-dated gold futures are up again today, last seen 0.7% higher at $1,230.30. Against this backdrop, options volume is accelerated on the SPDR Gold Shares (GLD), the VanEck Vectors Gold Miners...Read More
CGC is on pace for its highest close everSeveral cannabis-related stocks are higher today, ahead of the Oct. 17 legalization of recreational marijuana in Canada. In addition, Canopy Growth Corp (NYSE:CGC) stock is flying high -- and attracting option bulls -- on M&A news, and Cronos Group Inc (NASDAQ:CRON) shares are higher after inking a notable partnership.CGC Option Bulls Emerging Ahead of Big...Read More
The Dow stock is fresh off its worst week since February 2016Dow name Boeing Co (NYSE:BA) has seenheavy options trading in recent weeks, landing on Schaeffer's Senior Quantitative Analyst Rocky White's list of 20 stocks that have attracted the highest amount of weekly options volume during the past 10 trading days. Names highlighted yellow are new to the list. BA is fresh off its worst week since...Read More
CAIRO (Reuters) - Qatari Minister of State for Defence Affairs Khalid bin Mohammed al-Atiyya met Turkey’s president Tayyip Erdogan in the presidential palace in Ankara, Qatar’s Defence Ministry said on Twitter on Monday.It added in a statement that they discussed the mutual relations between the two countries, and “the latest developments in the region”.Reporting by Nayera...Read More
BRUSSELS (Reuters) - European Council President Donald Tusk said on Monday the 27 states remaining in the bloc after Britain leaves must be ready for a no-deal Brexit, a scenario he said was “more likely than ever before”.“But let me be absolutely clear. The fact that we are preparing for a no-deal scenario must not, under any circumstances, lead us away from making every effort...Read More
GENEVA (Reuters) - Global foreign direct investment (FDI) fell by 41 percent to $470 billion in the first six months of this year, the lowest since 2005, preliminary figures from the United Nations trade and development agency UNCTAD showed on Monday.President Donald Trump’s U.S. tax reforms were the main cause of the slump, which followed a 23 percent fall in 2017, as American firms repatri...Read More
Meanwhile, KRYS stock is a huge winner todayThe Dow has traded on both sides of breakeven today, while tech stocks struggle. Three stocks in particular making notable moves are healthy drink specialist New Age Beverages Corp (NASDAQ:NBEV), gene therapy concern Krystal Biotech Inc (NASDAQ:KRYS), and retailer American Eagle Outfitters (NYSE:AEO). Below, we'll take a closer look at what's moving shar...Read More
BRUSSELS (Reuters) - Walt Disney (DIS.N) has offered concessions in an attempt to allay EU antitrust concerns over its $71.3 billion bid for Twenty-First Century Fox Inc’s (FOXA.O) entertainment assets, the European Commission said on Monday.Disney submitted its proposal on Friday, according to a filing on the EU competition enforcer’s website which however did not provide details.The...Read More
TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe on Monday pledged to go ahead with an increase in the national sales tax next October.Abe said the government will consider tax breaks for durable goods purchases, such as cars and homes, and come up with a scheme to ease the burden on small companies and small retailers once the sales tax is raised to 10 percent from 8 percent.The government wi...Read More
ROME (Reuters) - Italy’s cabinet was due to meet later on Monday but the approval of the 2019 budget, which envisages a jump in the deficit that has upset financial markets and drawn criticism from the European Commission, slipped to Tuesday.The government, backed by the right-wing League and the anti-establishment 5-Star Movement, has already issued the financial framework for the budget, r...Read More
One brokerage firm upgraded the stock to "buy"The shares of AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) surged almost 37% last week -- their biggest one-week gain since September 2017 -- after a Food and Drug Administration (FDA) panel deemed the company's opioid treatment safe. ACRX stock is up another 10.5% today to trade at $4.40, earlier hitting an annual high of $5.03, after seeing an onslaught...Read More
* Lead rebounds to Sept. 10 high* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Adds closing prices)By Zandi ShabalalaLONDON, Oct 15 (Reuters) - Lead jumped to its highest in six weeks on Monday, helped by a weaker dollar and falling inventories, but U.S-China trade tensions kept pressure on most metals.Benchmark lead ended 1.6 percent higher at $2,085 per tonne, after touching its highest sinc...Read More
(Kitco News)- Gold prices are holding moderate gains in early-afternoon U.S. trading Monday. Early on,prices hit a 10-week high. Some more safe-haven demand, technical buying andshort covering are boosting the yellow metal again today. The bulls havetechnical strength and momentum to suggest more gains are coming in the nearterm. December gold futures were last up $8.00 an ounce at $1,230.40. Dece...Read More
Anglo Asian Mining's gold output rose 47 percent in the third quarter, the London-listed company said on Monday, adding that full-year production would be at the top end of its current guidance.Azerbaijan's leading gold mining firm said it produced 21,318 ounces of the metal in the last quarter, against 14,468 ounces in the same period of last year.Its total production of gold-equivalent ounces (G...Read More
Mine photos courtesy of Agnico Eagle Mines,(Kitco News)- It's only a matter of time before investors come back to the mining sector, but they need to see viable business and growth potential, according to Sean Boyd, CEO of Agnico Eagle (NYSE: AEM, TSX: AEM).It's with that focus that Agnico Eagle prepares to launch its two new mines in Nunavut, Canada's eastern Arctic. The company's Meliadine prope...Read More
The annual "In Gold We Trust" report by Liechtenstein-based investment firm Incrementum is a must-read account of the gold market, and its just-released chartbook for the 2018 edition is no exception.The strengthening U.S. dollar has lately dented the price of gold, and rising interest rates are making some yield-bearing financial assets more attractive as a safe haven. But as Incrementum shows,...Read More
Tech stocks are dragging the Nasdaq lower The Dow Jones Industrial Average (DJI) has explored a roughly 185-point trading range on both sides of breakeven, last seen higher on a boost from Walgreens Boots Alliance (WBA). On the other hand, the tech-rich Nasdaq Composite (IXIC) is firmly in the red, as a big drop in Apple (AAPL) weighs on technology stocks. Traders are also digesting this morning's...Read More
Australia's chronic shortage of Greenfields mineral discoveries can only be overcome by changing the sector's exploration, financing and training models, according to a keynote speaker at a major international geoscience forum in Adelaide today.Dr Hronsky urged the sector and geoscientists to "front-end load" the area selection process to target new search spaces and to better understand and explo...Read More
(Kitco News)- Sentiment appears to be shiftingin the gold market and analysts are dismissing a new record in speculativebearish positioning shown in the latest data from the Commodity Futures TradingCommission (CFTC). The CFTC's disaggregatedCommitments of Traders report (COT), for the week ending Oct. 9, showed moneymanagers dropped their speculative gross long positions in Comex gold futuresby 1...Read More
For a measure of how much last week's surge in gold prices may have caught the market by surprise, consider that hedge funds had just made their biggest-ever bearish wager on the metal days before.Speculators boosted their net-short position in bullion futures and options to the largest since at least 2006 in the week ended Tuesday, according to government data released three days later. By Thursd...Read More