For the last four months, gold had decoupled from its usual correlation with TIP and with longer-run Treasury yields.Now that the dollar has broken out of its downward spiral, gold is once again correlating normally with all four of the big markets.If gold closes below $1300 and the dollar continues to rally, there is little to keep it from falling into the $1250-$1240 zone.In the past--before Dec...Read More
* Euro zone inflation unexpectedly slips in April* German, French 10-year yields at 2-week lows* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Writes through)By Fanny Potkin and Dhara RanasingheLONDON, May 3 (Reuters) - Euro zone government bond yields hit two-week lows on Thursday after April inflation in the single currency bloc unexpectedly slowed, a headache for the European Centra...Read More
SAN FRANCISCO (Reuters) - Ducking analysts’ questions has a price: $2 billion.Tesla Inc investors gave a rare rebuke to iconoclastic Chief Executive Elon Musk on Wednesday after he cut off analysts asking about profit potential, sending shares down 5 percent despite promises that production of the troubled Model 3 electric car was on track.Tesla’s future depends on the Model 3 and the...Read More
(Kitco News) - Yamana GoldInc. (TSX: YRI; NYSE: AUY) late Wednesday reported that gold production in thefirst quarter exceeded the company’s expectations, although Yamana ended upwith a net loss mainly due to non-cash special items.The net lossattributable to Yamana shareholders was $160.1 million, or 17 cents per share.However, Yamana listed $170.2 million in non-cashcharges, with the bigge...Read More
(Kitco News) - Gold pricesare posting good gains in early U.S. trading Thursday, on some bargain huntingin the cash market and on short covering in the futures market. A weaker U.S.dollar index and lower U.S. stock indexes today are working in favor of theprecious metals market bulls. June Comex gold futures were last up $11.60 anounce at $1,317.20. July Comex silver was last up $0.195 at $16.57 a...Read More
Eight of the thirteen gold miners trapped underground at Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) Masakhane mine in South Africa remain missing, the company said after a seismic event caused a fall of ground in an operating stope at one of the company's gold mines.Contact was made with six workers earlier on Thursday and two two were brought to surface safely, the firm said, but one of them reg...Read More
LONDON (Reuters) - The euro rose off four-month lows on Thursday, shrugging off data showing an unexpected slowdown in euro zone inflation, while elsewhere most currencies recovered some ground versus the dollar as the greenback’s recent rally paused.Euro zone inflation slowed to 1.2 percent year-on-year in April, down from 1.3 percent in March, and core inflation fell even more, raising que...Read More
MUMBAI, May 3 (Reuters) - Indian gold demand may improve through to December as positive monsoon rains and government efforts to raise farmer incomes could boost rural purchases enough to offset higher prices because of the weak rupee, the World Gold Council (WGC) said.India is the world’s second-biggest gold consumer and higher demand there could support global prices that have risen over 5...Read More
May 3 (Reuters) - Egypt-focused gold miner Centamin said its first-quarter profit more than doubled, helped by higher gold production, better prices and lower sales costs.Profit before tax rose to $65.4 million in the three months ended March 31, from $29.47 million a year earlier.Gold sales rose 13.9 percent to 131,045 ounces, while average realised gold price rose about 9 percent to $1,328 per o...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
On Wednesday, Fed officialsconcluded their two-day meeting on interest rates and as is their way, they didnothing, focusing on the equity market as the only asset class that matters.They should have raised rates, but with their fear of the bubble they built,they remained mute.Gold ended with a loss Wednesday,making a new two-month low. Gold and silver have rallied overnight. Silver heldthe key lev...Read More
(Kitco News) - Gold demand is off to a slowstart in 2018, as first-quarter results from the World Gold Council (WGC)revealed the lowest level in 10 years.Gold demand dropped 7% year-on-year in the first quarter to 973 tonnes - a level last seen inthe first quarter of 2008, the WGC said in its Gold Demand Trends report thatwas released on Thursday. The WGC blamed poor gold-bardemand as well as disi...Read More
There are several "conventional" methods of trading earnings that most option traders are taught... Sponsored by TheoTradeFour times a year, publicly-listed companies are required to step up to the earnings confessional to announce revenue and earnings per share results for the prior quarter and future projections for growth going forward. These are conducted through prepared press releases and co...Read More
World's largest mortgage bankers- Fannie Mae and Freddie Mac, would soon go bankrupt.No one believed Porter Stansberry nine years ago.As head of one of America's largest independent financial research firms, Mr. Stansberry's work back in 2008 led him to a bold, but worrisome, conclusion:That the world's largest mortgage bankers- Fannie Mae and Freddie Mac, which at the time were responsible for ne...Read More
Overall global gold demand fell to its lowest first-quarter level since 2008, driven by a slump in demand for gold bars and exchange-traded funds backed by the precious metal, according to a report from the World Gold Council released Thursday. Total gold investment demand fell to 973 metric tons in the first quarter, down 7% from 1,047 metric tons in the first quarter of 2017, the WGC reported....Read More
Overall global gold demand fell to its lowest first-quarter level since 2008, driven by a slump in demand for gold bars and exchange-traded funds backed by the precious metal, according to a report from the World Gold Council released Thursday. Total gold investment demand fell to 973 metric tons in the first quarter, down 7% from 1,047 metric tons in the first quarter of 2017, the WGC reported....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
Gold is better bid today, printed session highs above the 200-day MA resistance. Chinese state media expresses caution ahead of trade talks. Having defended the psychological support of $1,300 earlier this week, gold (XAU/USD) is now looking to scale the all-important 200-day moving average (MA) located at $1,308 in a convincing manner. The yellow metal created a bullish inside day candle yester...Read More
South African gold producers signed Thursday a class action settlement with law firms representing thousands of miners who contracted the fatal lung diseases silicosis and tuberculosis while working for them.The 5 billion rand-settlement (about $400 million at today's exchange rate), reached following three years of negotiations, puts an end to the country's largest and most expensive class acti...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Apple Inc. (AAPL) rose nearly 5% after the iPhone maker's fiscal-second quarter earnings beat Wall Street estimates.The Federal Reserve decided to keep interest rates unchanged.The U.S. private sector added 204,000 jobs in April, according to ADP, down from 241,000 a month earlier. The official U.S. jobs report will be released on Friday....Read More