Trump suggested Washington and Beijing should work together to support embattled ZTEOptical component stocks are rallying today, after President Donald Trump signaled support for embattled Shenzhen-based tech firm ZTE. Trump tweeted that he and Chinese President Xi Jinping are "working together to give massive Chinese phone company, ZTE, a way to get back into business, fast." In mid-April, the Co...Read More
(Kitco News)- Largespeculators upped their net bullish positioning in gold futures while trimmingtheir bearish posture in silver during the most recent reporting week for datacompiled by the Commodity Futures Trading Commission.“Goldand silver put up a fight against the stronger dollar, with both managing tohold onto key support at $1,300/oz and $16/oz, respectively,” said OleHansen, h...Read More
(Bloomberg) - The battle for some of Russia's richest gold mines has an unusual cast of characters: the scion of one of Europe's great banking families, a Kazakh tycoon with his own cryptocurrency, hedge fund D.E. Shaw, and mystery shareholders.They're all part of a new fight for control over Petropavlovsk Plc, a London-listed miner. For the second time in a year, the company is in the middle of...Read More
The drilling program will follow up on the recently discovered "West Zone" and target additional potential discoveries at Copper KingELKO, Nev., May 14, 2018 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU), a gold exploration and development company, is pleased to announce the forthcoming Copper King drilling program for 2018. This program, comprised of two phases, will begin with an initial ph...Read More
(Reuters) - U.S. stock indexes opened higher on Monday on signs of easing U.S.-China trade tensions after President Donald Trump softened his stance on ZTE Corp, pledging to help the Chinese technology company "get back into business, fast".The Dow Jones Industrial Average .DJI rose 48.20 points, or 0.19 percent, at the open to 24,879.37. The S&P 500 .SPX opened higher by 5.65 points...Read More
Ford was forced to temporarily lay off thousands of workers after a fireShares of auto manufacturer Ford Motor Company (NYSE:F) are higher in early trading, thanks to news reports from over the weekend that the company could resume production on the F-150 pick-up series by this Friday, following a recent fire at a parts factory. The fire caused more than 7,600 workers to be temporarily laid off,...Read More
NEW YORK/TOKYO (Reuters) - Xerox Corp (XRX.N) has scrapped a planned $6.1 billion deal with Fujifilm Holdings Corp (4901.T) in a settlement with activist investors Carl Icahn and Darwin Deason that also hands control of the U.S. photocopier giant to new management.The victory for the billionaire investors puts the Japanese company further on the back foot in any new negotiations with Xerox, althou...Read More
DETROIT (Reuters) - Trump administration demands in NAFTA trade negotiations meant to push auto jobs back to the United States may not be enough to spark a shift in where automakers build cars and trucks.New math to determine what qualifies as vehicle content, what limits apply to allow tariff-free auto imports and how long companies would have to comply under a new NAFTA agreement will likely not...Read More
GAZA BORDER (Reuters) - Israeli forces killed at least 28 Palestinians along the Gaza border on Monday, health officials said, as demonstrators streamed to the frontier on the day the United States prepared to open its embassy in Jerusalem.It was the highest Palestinian single-day death toll since a series of protests dubbed the "Great March of Return" began at the border with Israel on...Read More
JERUSALEM (Reuters) - The United States officially opened its embassy to Israel in Jerusalem on Monday, fulfilling a pledge by President Donald Trump who has recognized the holy city as the Israeli capital."Today we open the United States embassy in Jerusalem, Israel," U.S. ambassador to Israel David Friedman said at the beginning of the inaugural ceremony, attended by a U.S. delegation...Read More
LONDON (Reuters) - Oil prices steadied below 3-1/2 year highs on Monday as resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran, while rising U.S. drilling pointed to higher North American production.Brent crude was up 20 cents at $77.32 a barrel by 1315 GMT and U.S. light crude rose 10 cents to $70.80.Both oil futures contracts hit their highest since November...Read More
Trump tweeted his support for China's ZTE over the weekendDow Jones Industrial Average (DJI) futures are trading higher today and appear ready to build off last week's momentum. The Dow is looking to secure its eighth straight gain, which would mark its longest win streak since September. Driving markets this morning are easing trade war tensions between the U.S. and China. On Sunday, President D...Read More
Plus, a look at the SPY triangle breakout receiving major attention"...equities have performed better in the short term when the Fed holds rates steady versus hiking rates during this tightening cycle. Therefore, with support continuing to hold on pullbacks and negative sentiment representing future buying power, the current environment favors the bulls."-- Monday Morning Outlook, May 7, 2018S&P 4...Read More
(Kitco News)- The annual supply surplus in the platinum market shouldshrink in 2018 as demand rises but South African mine production shrinks, saidthe World Platinum Investment Council Monday.The organization released its quarterly report on marketsupply/demand fundamentals at the start of Platinum Week in London.The WPIC said it looks for the supply surplus to fall to180,000 ounces this year from...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
(Kitco News)- Last week's rally in goldwas merely a dead-cat bounce and shows underlying weakness in the metal. Thetrend is lower, and gold has broken to the downside. Traders can sell ralliesuntil gold can close above $1,330.The breakdown through thebottom of consolidation indicates gold has some work to do to the downside. Weexpect a run down to the $1,280 level before there is any sustainable r...Read More
(Kitco News)- Gold and silver prices are slightly lower in early U.S. trading Monday. It’s aquieter and uneventful marketplace to start the trading week. Rallying U.S.stock indexes that hit multi-week highs overnight suggest keener risk appetitein the marketplace at present, which is bearish for safe-haven gold and silver.The gold and silver market bulls are encouraged by recent price action...Read More
ERLIN (Reuters) - The International Monetary Fund on Monday stepped up pressure on Chancellor Angela Merkel's government to reduce Germany's persistently large current account surplus by hiking public investment.The IMF and the European Commission have long urged Germany to boost domestic demand by lifting wages and investment to help cut its large trade surplus. But the debate has heated up since...Read More
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump pledged on Sunday to help ZTE Corp "get back into business, fast" after a U.S. ban crippled the Chinese technology company, offering a job-saving concession to Beijing ahead of high-stakes trade talks this week.Trump's unexpected announcement was a stunning reversal, given Washington's tough stance on Chinese trade practices that...Read More
Mr. Eric Edwards reportsTRIMETALS MINING INC. FILES FIRST QUARTER 2018 FINANCIAL STATEMENTS AND MD&ATrimetals Mining Inc. has released its condensed interim consolidated financial statements for the three months ended March 31, 2018, with cash at the end of the quarter of $1.2-million. In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated. Highlights for...Read More