Exchange-traded-product investorsincreased their exposure to gold over the past week, says Standard Chartered.The products trade like a stock but track the price of the commodity, withmetal put into storage to back the shares. Gold ETP holdings rose 9 tonnes.However, investors reduced their exposure to the other precious metals,Standard Chartered points out. Silver outflows reached 343 tonnes over...Read More
Mr. Darin Wagner reportsBALMORAL CONTINUES TO EXPAND BUG GOLD DEPOSIT AND NEARBY HORSEFLY ZONE DOWN PLUNGEBalmoral Resources Ltd.'s initial results from the winter 2018 drill program on the company's Martiniere property in Quebec have successful extended down plunge both the South zone of the Bug gold deposit and the proximal, near-surface Horsefly gold zone.Drill holes MDE-18-324 and 325 both int...Read More
(Kitco News)- Gold bounced nicely off strong support at the $1,302 levelyesterday, with follow-through buying as the Chinese returned from holiday. It's too early to call a bottom, as the dollar remains bid. The key level we are watching is the 1.20 euro/dollar area. Thissupport line has held for months and an overlay of gold prices to theeuro/dollar chart are in sync. Today we have the Federal Re...Read More
(Repeats story first published Tuesday with no changes)By Noel RandewichSAN FRANCISCO, May 2 (Reuters) - Apple Inc lavished cash on its shareholders like no company in history in the first three months of the year and it intends to keep doing so, making the iPhone maker’s investors the clearest winners yet from last year’s sweeping U.S. corporate tax cuts.With a mountain of overseas ca...Read More
Mr. Anthony Makuch reportsKIRKLAND LAKE GOLD REPORTS SOLID EARNINGS AND CASH FLOW IN FIRST QUARTER 2018, ANNOUNCES DIVIDEND INCREASEKirkland Lake Gold Ltd. has provided its financial and operating results for the first quarter of 2018. The company's full financial statements and management discussion and analysis are available on SEDAR and on the company's website. The company also announced today...Read More
BRUSSELS (Reuters) - U.S. aerospace and industrial company United Technologies Corp (UTX.N) is set to win EU antitrust approval for the largest aerospace deal in history - a $23 billion bid for avionics maker Rockwell Collins, people familiar with the matter said on Wednesday.The deal, announced in September last year, would create a new player in the top echelon of suppliers to Boeing (BA.N), Air...Read More
(Kitco News) - Gold pricesare moderately higher in early U.S. trading Tuesday, while silver is sportingsolid gains. The metals are seeing corrective rebounds from selling pressurethat drove the markets to multi-week lows on Tuesday. June Comex gold futureswere last up $4.10 an ounce at $1,311.00. July Comex silver was last up $0.303at $16.43 an ounce. Animportant U.S. data point today is the just-...Read More
(Kitco News)- The goldmarket is seeing little reaction to in-line private sector employment data asprices bounce of a four-month low.Wednesday,private sector payrolls processor ADP said that 204,000 jobs were created inApril. According to consensus forecasts, economists were expecting to see jobgrowth of 200,000. Gold hasmostly ignored economic data lately and has mostly been driven by technicalmo...Read More
BERLIN (Reuters) - Germany’s cabinet on Wednesday approved budget plans that foresee the federal government taking on no net new debt through to 2022 and investment rising this year and next before falling.“I am convinced: in good economic times, a responsible fiscal policy must achieve both a reduction in debts and a rise in investments,” Finance Minister Olaf Scholz said in a s...Read More
Kirkland Lake GoldLtd. (TSX, NYSE: KL; ASX: KLA) reported that its profit rose in the firstquarter. The Company also announced an increase to its quarterly dividend to 3Canadian centers per share from two cents, starting with the second quarter,with the dividend payable in July. Net earningsincreased $53.8million, or 25 cents pershare, from $13.1 million, or 6 cents, in the fi...Read More
(Reuters) - Apple’s forecast-beating results helped U.S. stock futures edge higher on Wednesday, even as investors were wary ahead of the Federal Reserve’s monetary policy decision.Apple’s shares (AAPL.O) rose 4.1 percent in premarket trading after it posted resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks.At 7:23 a...Read More
JOHANNESBURG (Reuters) - A lawyer acting for nearly half a million miners who contracted fatal lung diseases silicosis and tuberculosis in mines said an out-of-court settlement was expected to be signed on Thursday with those gold companies implicated in the issue.The High Court in 2016 set the stage for protracted proceedings on cases dating back decades in the largest class action suit yet in Af...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
BEIJING (Reuters) - Chinese President Xi Jinping’s top economic adviser, Vice Premier Liu He, will meet a top-level U.S. trade delegation in Beijing this week, the government said on Wednesday, amid a festering dispute between the world’s two largest economies.U.S. President Donald Trump has threatened tariffs on up to $150 billion worth of Chinese goods to punish China over its joint-...Read More
May 2 (Reuters) - The Perth Mint's sales of gold productsplunged about 49.3 percent in April from a month earlier, whilesilver sales dived about 53 percent, the mint said in a blogpost on its website on Wednesday.Sales of gold coins and minted bars fell to 15,161 ounces inApril from 29,883 ounces in March, the mint said. Gold sales were up about 45 percent in April compared withthe same month last...Read More
The way the metals have beentrading, they shouldn't be entering any beauty contests; they have been ugly.Now that gold has broken key support of $1,310, trading down to $1,302 onTuesday, it's time for the gold bulls to buckle up. A break below $1,300 bringsthe $1,240 level back into play.Today at 2 p.m. EDT, the Fed andChair Powell will announce their decision on interest rates. There is no hikepl...Read More
Today marks the first day that Nova Scotia mining companies can apply for fuel tax rebates for fuel consumed at mines, quarries and pits."Getting the rebate is a tremendous win for Nova Scotia's mining industry and a clear indication of the government's support of our industry," said Sean Kirby, Executive Director of the Mining Association of Nova Scotia (MANS). "This policy change sends a signa...Read More
Egyptian billionaire Naguib Sawiris isn't your typical gold bug. The chairman of Orascom Telecom Media and Technology Holding S.A.E. told Bloomberg in an interview from Cairo this week that he sees gold GCM8, +0.33% surging up to $1,800 an ounce while the "overvalued" stock market hits the skids. At last check, gold was down almost 1% at $1,307 an ounce while the Dow DJIA, -0.72% and S&P S...Read More
* LME/ShFE arb:* GRAPHIC-2018 asset returns: (Adds closing prices, details)By Maytaal AngelLONDON, May 2 (Reuters) - Copper and nickel bounced offmulti-week lows on Wednesday as Chinese steel prices soared anda private survey showed growth in China's manufacturing sectorunexpectedly picked up in April.The Caixin/Markit Manufacturing Purchasing Managers' index(PMI) climbed to 51.1, from a four-mont...Read More
South African gold producers are expected to sing this week a settlement in a lawsuit over fatal lung disease and tuberculosis miners contracted while working for them, ending this way the country's largest ever class action against mining companies.Speaking to Reuters, lawyer Richard Spoor, who represents about half a million workers and their families, said the companies would sign the out-of-...Read More