(Kitco News)- Thegold market is seeing little reaction to disappointing economic data that showsmomentum in the service sector fading, according to the latest report from theInstitute for Supply management (ISM).Tuesday,the ISM said its non-manufacturing index showed a reading of 56.8% for April,down from March's reading of 58.8%. The data was weaker than expected asconsensus forecasts were callin...Read More
Mr. Nelson Baker reportsMINERAL MOUNTAIN CONFIRMS PROOF OF CONCEPT IN THE HOMESTAKE GOLD BELTMineral Mountain Resources Ltd. and its subsidiary, Mineral Mountain Resources (SD) Inc., have received the analytical results for the initial three of the planned 12 NQ diamond drill holes --ST18-001, ST18-002 and ST18-003 -- totalling 1,322 metres on the company's Standby mine target in the Rochford dist...Read More
(Reuters) - U.S. stock indexes opened lower on Thursday as investors remained on edge about U.S.-China trade talks, while the latest round of earnings added little cheer.The Dow Jones Industrial Average .DJI fell 88.75 points, or 0.37 percent, at the open to 23,836.23. The S&P 500 .SPX opened lower by 7.59 points, or 0.29 percent, at 2,628.08. The Nasdaq Composite .IXICdropped 35.87 point...Read More
Gold has rallied on bargain hunting and traders buying to cover, oroffset, short positions, says George Gero,managing director with RBC Wealth Management. As of 9:28 a.m. EDT, Comex June gold was $10.20 higher to $1,315.80 an ounce two days after hitting the low for 2018of $1,302.30. Gero cites a “weaker dollar for now” in the aftermath of aFederal Reserve meeting that wrapped up on We...Read More
JOHANNESBURG, May 3 (Reuters) - Precious metals producer Sibanye-Stillwater's gold output at its South African mines had been hit by by safety and operational disruptions in the first quarter, it said on Thursday, adding that it expects to regain the lost ground this year.Sibanye's gold production in the first three months of 2018 declined to 291,500 ounces, from 330,000 ounces in the same period...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday money from his presidential campaign was not used to pay off adult-film star Stormy Daniels, publicly acknowledging the payment for the first time and denying any sexual encounter with her years ago.In a series of early posts on Twitter, Trump said he had reimbursed his lawyer Michael Cohen the $130,000 that Cohen paid Daniels in...Read More
BRUSSELS/FRANKFURT (Reuters) - Euro zone inflation unexpectedly slowed last month, adding to a string of data that points to a cooling economy and possibly makes it more difficult for the European Central Bank to curb its lavish monetary stimulus later this year.Last month the rate slipped to an annual 1.2 percent, missing economists’ expectations in a Reuters poll that it would remain at th...Read More
The GPU giant will report earnings after the close next ThursdayTechnology name Nvidia Corporation (NASDAQ:NVDA) is trading higher this morning, after getting upgraded to "overweight" from "equal weight"at Barclays, which also lifted its price target to $280 from $265. The brokerage firm said it believes the chip producer will benefit from the next wave in artificial intelligence, while also predi...Read More
Teranga GoldCorp. (TSX: TGZ) reports a higher adjusted profit than a year ago as output andprices rose but costs fell. The company lists adjusted earnings of $10.7million, or 10 cents per share, up from $6.7 million, or 6 cents, a year ago.Net income, however, fell to $3 million, or 3 cents, from $5.6 million, or anickel. The company produced 64,031 ounces of gold, up 13% from 56,903 in thesame pe...Read More
(Reuters) - DowDuPont Inc (DWDP.N) reported a higher-than-expected first-quarter profit on Thursday as increased prices for its products and demand for packaging, paint and other materials made up for a weak agriculture business.The chemical producer, formed by the merger of Dow Chemical and DuPont last year, clocked up net sales of $21.5 billion for the quarter, which the company said compared to...Read More
Mr. Christian Milau reportsEQUINOX GOLD RELEASES FIRST QUARTER FINANCIAL RESULTS Equinox Gold Corp. has released its unaudited condensed consolidated interim financial statements and related management's discussion and analysis for the three months ended March 31, 2018.Equinox Gold's principal assets are its wholly owned, past-producing Aurizona gold mine in Maranhao, Brazil,and its wholly owned,...Read More
There's a highly anticipated trade meeting today between the U.S. and ChinaDow Jones Industrial Average (DJI) futures are pointing to a triple-digit pullback this morning, as Wall Street continues to digest yesterday's Fed announcement. Traders could also be jittery ahead of a meeting today on trade between U.S. and Chinese officials. As such, investors are digesting this morning's import and exp...Read More
The U.S. trade deficit narrowed sharply in March as exports increased to a record high amid a surge in deliveries of commercial aircraft and soybeans.The Commerce Department said on Thursday the trade gap dropped 15.2 percent to $49.0 billion, the lowest level since September. Data for February was revised slightly to show the trade gap widening to $57.7 billion, which was the highest level since...Read More
WASHINGTON (Reuters) - U.S. worker productivity increased modestly in the first quarter, and a jump in compensation supported views that inflation pressures were building up.The Labor Department said on Thursday nonfarm productivity, which measures hourly output per worker, rose at a 0.7 percent annualized rate in the January-March quarter.Fourth-quarter productivity was revised to show it increas...Read More
LONDON (Reuters) - World stocks made little progress on Thursday as worries over global trade tensions weighed, while the U.S. dollar consolidated recent bumper gains after the Federal Reserve reaffirmed the outlook for more rate hikes.The MSCI world equity index, which tracks shares in 47 countries, traded flat in percentage terms. Europe’s pan-European STOXX 600 index was down 0.3 percent...Read More
Mr. Antonio Berlanga reportsTELSON ISSUES TAHUEHUETO Q1 2018 PREPRODUCTION RESULTS FOR MINING, CONCENTRATE PRODUCTION & METALLURGICAL BALANCESTelson Mining Corp. has provided the results of first quarter 2018 preproduction toll milling at its 100-per-cent-owned Tahuehueto mine development project located in Durango, Mexico. Preproduction toll milling from Tahuehueto processed 9,503 tonnes of o...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
(Kitco News)- The Federal Reserve acted in line with our expectations,leaving rates unchanged and suggesting a less hawkish outlook. The wordingsurrounding the Fed’s inflation target was the focus. The Fed officials’ dialogue suggested that inflationtargets were nearing their levels but as long as inflation was around 2% on a“symmetrical” basis, they would continue to raise...Read More
FRANKFURT (Reuters) - Europe’s economic slowdown came sooner than expected and factors holding back growth may persist in the near term but the European Central Bank is still making “substantial” progress in lifting inflation, ECB Chief Economist Peter Praet said.Downplaying the impact of weak data, Praet said growth remains solid, the slowdown may be due to exceptional factors,...Read More
(Kitco News)- Goldprices are holding on to modest gains Thursday even as U.S. initial jobless claimsremain near their lowest level in 49 years.Initialweekly U.S. jobless claims rose by only 2,000 to a seasonally adjusted 211,000in the week to Saturday, the Labor Department reported, Thursday.Consensusforecasts compiled by various news organizations had called for initial claimsto be around 225,000...Read More