LONDON/MILAN (Reuters) - Italy's borrowing costs jumped on Wednesday and its stocks slid after a draft program for a potential coalition government revealed plans to demand 250 billion euros of debt forgiveness and create procedures to allow countries to exit the euro.The anti-establishment 5-Star Movement and the far-right League party plan to ask the European Central Bank to forgive the debt, ac...Read More
WASHINGTON (Reuters) - U.S. lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China's ZTE Corp (000063.SZ), calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company.Trump on Monday had defended his decision to revisit penalties on ZTE for flouting U.S. sanctions on trade with Iran, in part by say...Read More
(Reuters) - Amazon.com Inc (AMZN.O) and Whole Foods Market are making a surgical strike in the already brutal grocery price war.On Wednesday, Whole Foods debuted a much-anticipated loyalty program that offers special discounts to Prime customers, including 10 percent off hundreds of sale items and rotating weekly specials such as $10 per pound off wild-caught halibut steaks.Those perks are availab...Read More
Tiger Global Management bought more FB and NFLX, while selling GOOGL sharesA number of high-profile investors adjusted their positions on FANG stocks during the first quarter. Below, we'll break down how hedge funds changed their stakes in Facebook Inc (NASDAQ:FB), Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL), and Netflix, Inc. (NASDAQ:NFLX) during the first quarter, as well as how...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
Mr. Walter Coles Jr. reportsSKEENA DRILLING INTERSECTS MORE HIGH-GRADE GOLD AT SNIPSkeena Resources Ltd. has released analytical results from the first eight holes of the recently initiated phase 2 underground drilling program at the company's 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia.The 2018 phase 2 diamond drill program totalling 11,000 metres is be...Read More
The 10-year Treasury yield has settled around 3% Dow Jones Industrial Average (DJI) futures are marginally lower this morning, struggling for direction after the blue-chip index's eight-day winning streak was snapped last night. Geopolitical anxiety is once again weighing on investors, as North Korea threatens to cancel the June 12 meeting between Kim Jong Un and President Donald Trump if the U....Read More
YamanaGold Inc. (TSX: YRI; NYSE: AUY) announces that the first pour of gold andsilver dor?(C) at Cerro Moro occurred on Tuesday. Cerro Moro is ahigh-grade gold and silver operation sourcing ore from a combination ofunderground and open-pit mining in Argentina. The ramp-up remains on track,with commercial production expected in the second quarter, Yamana says.Guidance is for output of 85,000 g...Read More
Billionaire hedge-fund managers John Paulson and Ray Dalio kept their faith in gold even as rising interest rates trim the metal's gains.As of March 31, New York-based Paulson & Co. had 4.32 million shares in SPDR Gold Shares, the biggest exchange-traded product backed by bullion, according to a regulatory filing. That compares with 4.36 million shares at the end of December. Billionaire Ray...Read More
WASHINGTON (Reuters) - U.S. homebuilding tumbled in April and permits fell, suggesting the housing market continued to tread water amid shortages of land and skilled labor.Housing starts dropped 3.7 percent to a seasonally adjusted annual rate of 1.287 million units in April, the Commerce Department said on Wednesday. The drop reversed March's rise.Data for March was revised to show starts rising...Read More
(Kitco News)- Tuesday was an ugly day in themetals, especially for gold. Silver had its troubles but is holding up muchbetter from a technical perspective. Gold sold off hard, breaking down into ablow-off formation, while silver just hovered around support.For gold bulls, Tuesday's tradeshould turn out to be bullish with the blow-off pattern selling on heavyvolume. Gold is very close to our $1,280...Read More
(Kitco News)- As we discussed over the past week, gold's lethargic patternwas suggesting risks to the downside. The inability to break above the $1,322area, coupled with a resurgent dollar, caused bulls to exit the trade. OnFriday, gold had the chance to remain in an uptrend,flirting with the $1,322 area, while the euro was attempting to regain the 1.22euro/dollar level. Both levels failed and whe...Read More
(Kitco News)- Well-knownhedge fund managers John Paulson and Ray Dalio basically maintained theirholdings in gold exchange-traded funds during the first quarter, filings show.Meanwhile,Soros Fund Management LLC has remained out of gold since exiting from itsshares of Barrick Gold Corp. in the fourth quarter of 2016.Institutionalinvestment managers must file a Form 13F-HR, showing th...Read More
(Kitco News)- Goldprices are modestly lower and dropped to another five-month low in early U.S.trading Tuesday. Both gold and silver are seeing follow-through sellingpressure after strong losses posted Tuesday. June Comex gold futures were lastdown $3.30 an ounce at $1,286.80. July Comex silver was last down $0.044 at $16.225an ounce. Thesurging U.S. dollar is a major factor working against the pr...Read More
South Africa's Tharisa strengthened its claim as an early mover in a hoped-for Zimbabwean mining renaissance on Wednesday by buying a slice of the chrome-rich Great Dyke region.Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.Tharisa, which mines platinum group metals and...Read More
LONDON (Reuters) - The euro slumped to a five-month low on Wednesday after reports that a possible future Italian government would seek debt forgiveness from European creditors and as the dollar resumed its month-long and powerful rally.The euro fell as much as half a percent to $1.1783 EUR=, its lowest since late December, after reports surfaced that Italy's anti-establishment 5-Star Movement and...Read More
LONDON (Reuters) - Rio Tinto (RIO.L) (RIO.AX) CEO Jean-Sebastien Jacques said resource companies needed to build "the United Nations of the mining industry" to tackle rising resource nationalism and cost inflation.Rising commodity prices typically lead to resource nationalism as they inspire resource-holding nations to demand higher shares of international mining companies' profits.At th...Read More
Mr. Jean Martineau reportsQ1-2018: DYNACOR REPORTS NET INCOME OF US $1.6 MDynacor Gold Mines Inc. has released its unaudited condensed consolidated financial statements and the management's discussion and analysis (MD&A) for the three-month period ended March 31, 2018. These documents have been filed electronically with SEDAR and will be available on the corporation's website.(All figures in t...Read More
SEOUL (Reuters) - North Korea threw next month's summit between Kim Jong Un and U.S. President Donald Trump into doubt on Wednesday, threatening weeks of diplomatic progress by saying it may reconsider if Washington insists it unilaterally gives up its nuclear weapons.The North's official KCNA news agency said earlier Pyongyang had called off high-level talks with Seoul, which had been due on Wedn...Read More
Are you ready for a potential economic reset?No matter what the news says, when this bubble pops, we're going to witness the worst market crash in history. But if you know this massive reset is coming, and prepare accordingly, it could be the greatest wealth opportunity of your life.You could have the once-in-a-lifetime opportunity to build wealth that lasts not just years... but generations!Once...Read More