(Kitco News) - Gold and silver pricesare moderately higher in early U.S. trading Thursday. The metalsare seeing support from a bit of safe-haven demand, a slightly lower U.S.dollar index, a tame U.S. inflation report, and some short covering in thefutures markets. June Comex gold futures were last up $8.30 an ounce at $1,321.20.July Comex silver was last up $0.196 at $16.73 an ounce. TheU.S. econo...Read More
(Kitco News)- Gold prices have pushed to near session highs as U.S.inflation pressures remain muted.Thursday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.2%in April, after decreasing 0.1% in March. The increase was weaker than expectedas consensus forecasts were calling for a 0.3% rise.Forthe year, the report said that annual headline inflation increased 2.5%, drivenmostly...Read More
(Kitco News) - First Majestic Silver Corp. (NYSE: AG; TSX: FR) lateWednesday reported a net loss for the first quarter on lower output, with thecompany’s chief executive reporting that the number of ounces declinedtemporarily due to lower grades.First Majestic listed a net loss of $5.6 million, or 3 cents per share, compared tonet earnings of $2.7 million, or 2 cents, in the first quarter of...Read More
May 10 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Thursday amid political uncertainty after Israel said it attacked nearly all of Iran's military infrastructure in Syria after Iranian forces fired rockets at Israeli-held territory for the first time.It was the heaviest Israeli barrage in Syria since the start in 2011 of its civil war, in which Iranians, a...Read More
DUBLIN (Reuters) - Apple ditched plans to build an 850 million euro ($1 billion) data center in Ireland because of delays in the approval process that have stalled the project for more than three years, the iPhone maker said on Thursday.Apple announced plans in February 2015 to build the facility in the rural western town of Athenry to take advantage of green energy sources nearby, but a series of...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
(Adds background, quote, updates prices)* Fiscal concerns pressure Italian bond yields higher* Bank of England vote, language key for gilts* Euro zone periphery govt bond yields tmsnrt.rs/2ii2BqrBy Saikat ChatterjeeLONDON, May 10 (Reuters) - Italian government bond yields settled at a seven-week high on Thursday on growing expectations that anti-establishment parties will take power in the euro z...Read More
LONDON (Reuters) - World stocks hit a three-week high on Thursday and turned positive for the year as rising oil prices gave energy firms a shot in the arm that countered the effects of increased political uncertainty.Brent crude rose to another 3-1/2 year high of $77.89 overnight amid fears of supply disruptions after President Donald Trump withdrew the United States from a 2015 nuclear accord wi...Read More
LONDON (Reuters) - The oil price rose on Thursday and was set 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 around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that cu...Read More
LONDON (Reuters) - OPEC is in no hurry to decide whether to pump more oil to make up for an expected drop in exports from Iran after the imposition of new U.S. sanctions, three sources familiar with the issue said, saying any loss in supply would take time.The Organization of the Petroleum Exporting Countries has a deal with Russia and non-OPEC producers to cut supplies that has helped erase a glo...Read More
(Kitco News) - Pan American Silver Corp. (Nasdaq, TSX: PAAS),the world's second-largest primarysilver producer, late Wednesday reported that its first-quarter profit rose on acombination of higher revenues and lower costs. Net earnings were $48.2 million, or 31 cents per share, up sharply from $20million, or 13 cents, in the first quarter of 2017. The January-March resultsincluded an $8 milli...Read More
Gold and silver are once againsetting up for a big move as they sit in a consolidation range. The congestionpattern represents the time of most confusion for investors as markets reachthe bottom of the range and bounce, and then reach the top end only to sell off.This pattern keeps investors and traders alike in a state of frustration.Gold has been consolidating for sixmonths while silver has been...Read More
* LME/ShFE arb:* GRAPHIC-2018 asset returns: (Updates with closing prices)By Eric OnstadLONDON, May 10 (Reuters) - Aluminium fell on Thursday afterthree sessions of gains, pressured by trade selling and bearishoptions activity, while copper gained on lower inventories andspeculative buying.Benchmark aluminium on the London Metal Exchange closed down 1.4 percent at $2,335 a tonne."Aluminium is...Read More
Shares in Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia's ever-changing policies on foreign mining investment, were off to the races on Thursday after the miner bumped up mineral resource estimates for its Altan Nar gold-polymetallic project in Mongolia.The Canadian miner said indicated and inferred gold equivalent resources had increased by who...Read More
Multiple long-tailed doji candles indicate dip demand. Weak US CPI reading could yield a minor rally in gold. Gold has created back-to-back doji candles at the 200-day moving average support, indicating persistent dip demand. Currently, the 200-day moving average is located at $1,306 and the metal (XAU/USD) is changing hands at $1,315/Oz. The short-term momentum studies - 5-day MA and the 10-day...Read More
3 Things in the Markets to Know Right Now The Dow Jones Industrial Average closed higher for the fifth consecutive session.U.S. crude oil prices jumped 3% on Wednesday, settling at $71.14 a barrel.The Nasdaq finished up 1% and the S&P 500 gained 0.97%. Market Overview Global stocks powered ahead Wednesday, with U.S. and European markets supported by surging energy stocks, as investors...Read More
Full Description and comments at: https://www.peakprosperity.com/podcas...Nomi Prins, Wall Street veteran turned financial industry reformist returns to the podcast this week to explain the findings within her new book Collusion: How Central Bankers Rigged The World.Nomi has put together a timeline of exactly when and how the central banks have plundered the wealth of the masses since 2008, either...Read More
SHANGHAI, May 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index hit yet another new four-month high at 93.42 overnight as treasury yields grew. It then came off slightly but remained above 93. It closed at 93.09, up 0.03%.The two-year treasury yield hit 2.53%, its highest level since September 8, 2008, while the 10-y...Read More
Q1 results illustrated how my long-term bullish thesis on Barrick is beginning to play out.Debt paydown, gold price appreciation, and improving operational proficiency lead to credit rating upgrades, higher earnings, and an improved free cash flow to earnings ratio.The company is finally moving past the Acacia and Pascua-Lama quagmires and is poised to pour its large and growing cash pile into gro...Read More
For most Americans the geopolitical/financial crises of the 1970s happened so long ago that they're about as relevant as the Revolutionary War or the Reformation. But for seasoned citizens who were around back then and paying attention, the similarities to today are becoming both eerie and scary. Consider:In the early 1970s the Middle East was a hotly contested part of the world, with Russia (then...Read More