(Kitco News) - Gold and silver prices aremoderately higher in early-afternoon U.S. trading Thursday. The metals seeupside support from a bit of safe-haven demand, a lower U.S. dollar index, atame U.S. inflation report, and some short covering in the futures markets.June Comex gold futures were last up $6.90 an ounce at $1,319.80. July Comex silver was last up $0.191 at $16.73 an ounce. TheU.S. eco...Read More
Mr. Stephen Nano reportsMIRASOL IDENTIFIES HIGH-GRADE SILVER MINERALIZATION AT VIRGINIAProspecting and reconnaissance mapping have resulted in the discovery of new high-grade silver mineralization at Mirasol Resources Ltd.'s 100-per-cent-owned Virginia project in Santa Cruz, Argentina.High-grade rock chip assays results have been returned from the recent sampling program.These results add explorat...Read More
• USD weakens further after both headline and core CPI miss estimates. • Retracing US bond yields offset risk-on mood and remain supportive. Gold finally broke out of its daily consolidative range and spiked to 1-1/2 week tops during the early NA session. The US Dollar extended its profit-taking slide and retreated farther from yearly tops after...Read More
(Kitco News)- While investor interest in the mining sector remainslackluster, one mining-sector CEO said that is not what companies should focuson; instead, they should continue concentrating on organic growth and improvingtheir balance sheet.Ian Ball, CEO of Abitibi Royalties, said that although themining sector faces fierce competition for investor dollars from marijuanastocks and cryptocurrenci...Read More
Mr. Michael Williams reportsVENDETTA COMMENCES FIELD PROGRAM AT THE PEGMONT LEAD-ZINC PROJECT AND PROVIDES CORPORATE UPDATEVendetta Mining Corp. has commenced the 2018 field program at the Pegmont lead-zinc project in Queensland, Australia.The objectives of the 2018 drilling program are:To expand the high-grade lead-zinc mineralization at Bridge zone;Develop a mineral resource around the high-grad...Read More
The retail ETF is currently in its worst two-month stretch of the yearWall Street is about to get hit with an onslaught of retail earnings in the next few weeks, drawing options traders to the SPDR S&P Retail ETF (XRT). Given the retail sector's recent struggles, most of the activity on the exchange-traded fund (ETF) appears to be of the bearish variety. Today, for instance, though volume is still...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney said on Thursday that interest rates are likely to rise “over the course of the next year”, speaking shortly after the central bank kept borrowing costs on hold in May.“It’s likely over the course of the next year rates will go up... that’s the most likely thing to happen,” Mr Carney said in an interview wi...Read More
BUDAPEST (Reuters) - The European Union should give up the “delusional nightmares” of a United States of Europe, Hungarian Prime Minister Viktor Orban said on Thursday in pledging to defend his nation’s Christian values and fight EU migrant settlement quotas.Orban, a maverick anti-immigration nationalist, won re-election for a third straight four-year term last month and is alrea...Read More
The market's 'fear gauge' is headed for a sixth consecutive lossU.S. stocks are trading higher at midday, with investors digesting this morning's weaker-than-anticipated inflation data, which is easing concerns about the pace of Fed rate hikes. The Dow Jones Industrial Average (DJI) is up triple digits, pacing for a sixth straight win, which would mark its longest winning streak since February....Read More
WASHINGTON (Reuters) - The Federal Communications Commission said in a notice on Thursday that landmark 2015 U.S. open-internet rules will cease on June 11, and new rules handing providers power over what content consumers can access will take effect.The FCC in December repealed the Obama-era “net neutrality” rules, allowing internet providers to block or slow websites as long as they...Read More
Energy: May has historically been a seasonal turning point in WTI, the WTI term structure is still in backwardation, and natural gas seasonality weakens in June.Financials: April marked the end of a seasonally strong period in the S&P, JPY/USD 12-month momentum is slightly positive, and May has historically been the second weakest month for EUR/USD.Grains: Agricultural commodities have rallied...Read More
WASHINGTON (Reuters) - The U.S. International Trade Commission said on Thursday it had made a preliminary finding that U.S. producers were being harmed by imports of steel automotive wheels from China.The decision follows an announcement last month by the U.S. Commerce Department that it had opened an investigation to determine if certain steel wheels from China are dumped in the United States and...Read More
ROME (Reuters) - The anti-establishment 5-Star Movement and far-right League have made “significant steps” towards forming a government, the two parties said on Thursday as Italy looked to end nine weeks of political deadlock.The two groups, which are hostile to European Union budget restrictions and have made electoral pledges that would cost billions of euros to implement, entered in...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday he will meet with North Korean leader Kim Jong Un on June 12 in Singapore for a first ever summit between the leaders of the two countries.“The highly anticipated meeting between Kim Jong Un and myself will take place in Singapore on June 12th. We will both try to make it a very special moment for World Peace!” Trump s...Read More
Getty ImagesThe higher cost of gasoline and other household staples are hitting Americans in their wallets and pocketbooks. The numbers: The higher cost of groceries, gasoline and rent spurred another increase in the cost of living in April, but an index that tracks consumer prices grew slower than expected. The consumer price index rose 0.2% in April, the government said Thursday. That was a tic...Read More
London, 10 May 2018 - Randgold Resources said today its 2018 production guidance remained intact despite a softer first quarter in which it contended with multiple challenges.Following the full commissioning of its underground mine, Kibali in the Democratic Republic of Congoincreased quarterly production by 22% compared to the corresponding quarter of the prior year and is on track to achiev...Read More
LONDON (Reuters) - The oil price rose on Thursday, heading for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Iran in the face of U.S. sanctions.The United States plans to impose new sanctions against Iran, which produces about 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that curbed...Read More
WASHINGTON (Reuters) - Mexico’s Economy Minister Ildefonso Guajardo on Thursday said he expected to find out within the next two days if a new NAFTA deal with the United States and Canada was possible in the short term.As time runs out to secure some kind of agreement, major differences remain between the three members of the North American Free Trade Agreement.“I think we will be find...Read More
Analysts remain bullish on the biotech stockExelixis, Inc. (NASDAQ:EXEL) stock is down 11.8% to trade at $19.13 this morning, after the biotech company's colorectal cancer drug that was tested in combination with Roche's Tecentriq failedlate-stage study goals. Exelixis said it will continue to work with Roche in evaluating the treatment on other tumor types. In response to the failed study, RBC a...Read More
YEREVAN (Reuters) - Armenian President Armen Sarkissian has dismissed the head of the security service and the police chief at the request of newly elected Prime Minister Nikol Pashinyan, the presidential press service said on Thursday.Opposition leader Pashinyan was elected Armenia's prime minister by parliament earlier this week, capping a peaceful revolution driven by weeks of mass protests aga...Read More