ATHENS (Reuters) - Greece's jobless rate eased to 19 percent in July from 19.1 percent in the previous month, falling to its lowest level since August 2011, data from the country's statistics service ELSTAT showed on Thursday.Seasonally adjusted data showed the number of unemployed at 897,861 people, with younger persons aged up to 24 bearing the brunt of being out of work.Among younger persons ag...Read More
NUSA DUA, Indonesia (Reuters) - The Bank of England governor and the head of the International Monetary Fund praised the abilities of Federal Reserve Chairman Jerome Powell on Thursday, after U.S. President Donald Trump said the Fed had “gone crazy” by raising interest rates.Speaking on a panel at this week’s International Monetary Fund and the World Bank meetings in Bali, Govern...Read More
Shorts have piled on the cannabis stockTilray Inc (NASDAQ:TLRY) is 2.2% lower in electronic trading, after Eight Capital downgraded the cannabis stock to "neutral" from "buy," expressing concern over the company's valuation. While the brokerage firm did boost its price target to $70 from $32, this still stands at a sharp discount to last night's close at $136.80.The cannabis stock craze has tak...Read More
The CPI for September was softer than expectedThere'sbeen notable movement in U.S. stock futures this morning, with a surprising consumer price index (CPI) pulling futures off theirlows. The closely watched inflation gauge came in weaker than expected for September, momentarily calming investor nerves about rising interest rates. While the Dow Jones Industrial Average (DJIA) is still set to open l...Read More
NEW YORK (Reuters) - Rising costs for companies are worrying investors already concerned about a step down in U.S. corporate profit growth next year as Wall Street’s focus turns away from 2018’s tax-fueled earnings boost. *Investors are on edge after a recent sharp pullback in U.S. equities, including the biggest daily drop in the Dow and S&P 500 since Feb. 8 on Wednesday. A spike...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
Prophecy Development Corp. (TSX: PCY, Frankfurt:1P2N) announces that Gerald Panneton is the company’s newchief executive officer and president. Panneton, a geologist who was thefounder, president and CEO of Detour Gold Corp. from its incorporationin 2006 until late 2013, succeeds John Lee, who will remainchairman of the Prophecy board of directors. Prophecy...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Goldextended early gains after Labor Department data Thursday showed that initialweekly U.S. jobless claims rose by 7,000 to a seasonally adjusted 214,000in the week to Saturday. Consensusexpectations compiled by various news organizations had called for initialclaims to be around 205,000 to 207,000. The govern...Read More
(Kitco News) - Gold prices rose to daily highs and were firmly above the key $1,200 level following September’s inflation data, which fell short of market expectations. The U.S. Consumer Price Index rose 0.1% in September after advancing 0.2% in August, the U.S. Labor Department said on Thursday. Consensus forecasts were calling for a rise of 0.2%. In an immediate reaction to the data, gold...Read More
Equities got clobbered onWednesday and this morning we are seeing some follow-through to the downside.Gold and silver rallied on Wednesday but not as much as you would have thoughtbased on the trashing of equities. However, both are joining the Jeffersonsthis morning and are “moving on up.”As we have written many times, wedon’t look at gold as a safe-haven play; we look at it as...Read More
(Kitco News) - Gold pricesare solidly higher and back above $1,200.00 in early U.S. trading Thursday, onsafe-haven demand amid steep sell-offs in world stock markets that have spookedtraders and investors around the globe. A very tame U.S. inflation report isalso boosting the metals markets. And a lower U.S. dollar index today is alsoworking in favor of the precious metals bulls. December gold fu...Read More
(Kitco News) - Barrick Gold Corp. (NYSE, TSX: ABX) late Wednesday reported thatproduction of both gold and copper rose in the third quarter from the secondand also reiterated its output guidance for 2018.The world’s largest gold-mining company, which last month agreedto purchase Randgold Resources Ltd. in an all-stock deal, listedJuly-September output of 1.15 million ounces of gold and sales...Read More
While gold and the related exchange traded funds are struggling this year, some investors remain fond of the yellow metal and some ETF issuers are rewarding that faith with lower expenses. Upstart ETF issuer GraniteShares announced a new, reduced annual expense ratio for the GraniteShares Gold Trust BAR, -0.38% BAR debuted in August with an annual fee of 0.20 percent, or $20 on a $10,000 investmen...Read More
(Updates with closing prices)By Peter HobsonLONDON, Oct 11 (Reuters) - Industrial metals prices fell onThursday, caught by a global stock market sell-off, with leadhitting its lowest in more than two years, but the market hadmostly recovered by the close of trading.Benchmark LME lead sank to its lowest sinceSeptember 2016 at $1,876 but ended the session 4.7 percenthigher at $1,999 per tonne. Alumi...Read More
* European stocks hit 21-month lows following Wall St slump * Holdings in SPDR Gold Trust rise for first time since July (Adds quotes, updates prices)By Sethuraman N RBENGALURU, Oct 11 (Reuters) - Gold rose more than 1 percentto near three-week highs on Thursday, climbing above $1,200 perounce as sliding global stock markets prompted risk-waryinvestors to seek out the metal, with a weaker dollar a...Read More
BERLIN, Oct 11 (Reuters) - The trade dispute between theUnited States and China is having an impact on global andtherefore euro zone growth, German Economy Minister PeterAltmaier said on Thursday.Speaking at a news conference to present the government'sdownwardly revised growth forecasts, Altmaier said that Berlinand its European allies wanted to safeguard the rules-based freetrade order by reform...Read More
Gold is in its medium-term downward trend, driven by a strong US dollar and weak treasury note prices.These days the speculators trading US dollar futures are extremely optimistic about the US currency.On the other hand, the speculators trading US treasury notes futures are extremely pessimistic, heavily betting on lower prices. What is more, they demonstrate the highest pessimism in modern histor...Read More
Canada's Leagold Mining (TSX:LMC) has had to temporarily shut down its Riacho dos Machados (RDM) mine in Brazil as a result of continued drought conditions in the country's Minas Gerais State.The Vancouver-based miner said it planned to resume operations in early December, with the commissioning of the grid powerline project.RDM was closed in August last year and restarted, on an intermittent basi...Read More
Get ready for an influx of pot stock profits.On October 17th, marijuana will be 100% legal in Canada.That's sparking a new wave of IPOs. And shares could surge 501% - 1,364% in the coming weeks - just like the recent weed stock IPOs.One investor's research has uncovered a secret way to access red hot IPO shares.Click here right now for details on this urgent trading situation.Canada is the first c...Read More
Christopher Lewis21 hours agoSilver markets pulled back to kick off the day on Wednesday, but it looks as if there are buyers willing to step in to this marketplace and perhaps go long. The $14.45 level above has been short term resistance, so it would make sense that we would attempt to get to that area. Silver markets continue to be very noisy, as there are a lot of moves around the world involv...Read More