(Reuters) - U.S. grains merchant Archer Daniels Midland Co (ADM.N) on Tuesday reported a 16 percent increase in quarterly profit on higher margins from soybean processing and a significant boost in global trade volumes, sending its stock price to a 52-week high in premarket trading.ADM has been trying to diversify into higher-margin sectors, such as food ingredients and aquaculture feed, to compen...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
Centerra GoldInc. (TSX: CG) reports net earnings of $9 million, or 3 cents per share, in thefirst quarter, down from $57 million, or20 cents, in the same period a year ago. The January-March results includecharges of $4.4 million for the acquisition of AuRico Metals Inc. Excludingthis, adjusted earnings in the first quarter were $13.5 million, or a nickel.Revenue fell to $235 million from $285 m...Read More
(Kitco News) - Gold pricesare solidly down and dropped to a four-month low in early U.S. trading Tuesday.The recent solid rally in the U.S. dollar index, which hit a nearly four-monthhigh overnight, continues to squelch demand in the precious metals markets.Chart-based selling has also kicked in recently, as the technical postures forgold and silver have deteriorated. June Comex gold futures were...Read More
LONDON (Reuters) - The dollar broke into positive territory for the year on Tuesday and bond yields were creeping higher again, as rising oil prices fueled bets that the Federal Reserve will flag more U.S. rate hikes this week.May Day holidays in many centers across Asia and Europe meant trading was sparser than usual, though there was more than enough news flow to keep those that were open occupi...Read More
(Refiles to fix typo in paragraph 4)* U.S. bonds underperform as June Fed rate hike expected* U.S./UK spread at highest in 34 years as UK economy struggles* Italian yields edge up further on early election jitters* Euro zone periphery govt bond yields tmsnrt.rs/2ii2BqrBy Abhinav RamnarayanLONDON, May 1 (Reuters) - The gap between U.S. and German 10-year benchmark bond yields was a shade off its w...Read More
* LME/ShFE arb: bit.ly/2wZSAEz* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Adds official prices)By Pratima DesaiLONDON, May 1 (Reuters) - Copper prices hit three-week lows on Tuesday due to worries about demand from top consumer China and a higher dollar ahead of a monetary policy decision from the U.S. Federal Reserve.Benchmark copper on the London Metal Exchange recovered in official ring...Read More
Mr. John Burzynski reportsOSISKO INTERSECTS 34.3 G/T AU OVER 4.5 METRES AT WINDFALLOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and ar...Read More
As gold’s slide continues, the 200-day movingaverage and psychologically important $1,300 level become a key support areafor the precious metal, says MKS (Switzerland) S.A. As of 7:55 a.m. EDT, spot gold was $7.40lower to $1,308.20 an ounce andbottomed at $1,307.70, its weakest level since March. ““Support-wise, we are nearing some key technical levels withthe 200 DMA at $1,304 a...Read More
Traders should be watching UUP's break above its 160-day moving averageStrength in the dollar was a predominant theme last week, and the resulting breakout in the PowerShares DB US Dollar Index Bullish Fund (NYSEARCA:UUP) has certainly been eye-catching. As of Friday's close at $24.03, the exchange-traded fund (ETF) was dead-even with its 2017 year-end price -- marking the first weekly settlement...Read More
* Dollar hits 3-1/2-month peak ahead of Fed * Platinum slides to lowest since mid-December * GRAPHIC-2018 asset returns: (Recasts; updates headline, prices; adds comment, byline, NEWYORK to dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, May 1 (Reuters) - Gold slid to a four-monthlow on Tuesday as the dollar strengthened ahead of a U.S.Federal Reserve policy meeting that is being watche...Read More
Botswana Diamonds (LON:BOD) is expanding its operations from its base country to neighbouring Zimbabwe by teaming up with Vast Resources (LON:VAST) to jointly explore for diamonds in that country.The memorandum of understanding signed Tuesday sees the two companies exchanging past exploration information on areas prospective for diamonds in Zimbabwe. It also says the parties will set up a jointly...Read More
Gold is exhibiting an untidy uptrend in it price, and that calls for more caution in trading the precious metal. Until the long-term uptrend is well defined, traders will continue to trade short-term rally-and-retreat behavior. Daryl Guppy Published 23 Hours AgoCNBC.com Edgar Su | ReutersGold is exhibiting an untidy uptrend in price with the potential to breakout above the critical long-term res...Read More
Egypt's Sawiris has put half his entire net worth into goldHe's been waiting 10 years for North Korea stakes to pay offSome big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold.He said in an interview Monday that he believes gold prices will rally further...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average dropped 148 points on Monday and closed out April more than 2,400 points below its all-time high set on Jan. 26. The Dow has now declined 2.25% in 2018.Oil prices rose on Monday after Israeli Prime Minister Benjamin Netanyahu said Iran lied about its nuclear ambitions. But shares of Exxon Mobil Corp. (XO...Read More
Key events details: Gold in Islamic finance and documentation & products standardisation 8th May 2018 14:45 -15:45The session will cover:AAOIFI-World Gold Council Standard – Case for Gold in Islamic FinanceIslamic Gold Products, Gold Trading Centres and the Role of ExchangesNeed for Standardisation of Gold Related Documentation and Product Confirmations Moderator:Ijl...Read More
Investing.com - Gold prices fell on Monday, nearing their recent five-week lows as waning geopolitical tensions and a stronger dollar weighed on demand for the precious metal.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $5.10 or 0.38% to $1,318.30 a troy ounce by 04:40 AM ET (08:40 AM GMT), re-approaching the five-week low of $1,315.70 set on T...Read More
The ratio provides clues.Silver got very cheap compared to gold.Silver is not the only precious metal that is lagging the yellow metal.The ratio weighed on the sector.A recent turn around could mean higher prices in the coming weeks and months.In around 3000 BC the first Egyptian Pharaoh Menes declared that two-and-one-half parts silver equal one-part gold. In those days, gold and silver were lead...Read More
Bob Moriarty ArchivesMay 1, 2018There are hundreds of junior resource companies in Vancouver and Toronto that have had the devil’s own time trying to get traction since the high water mark for the metals in 2011. I believe we had a major bottom in December/January of 2016 but many companies have yet to secure financing to move forward. It will come one day because the majors are consuming th...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comMay 1, 2018A time-tested mantra for the US stock market is, “Sell in May and go away.” The depth of a stock market sell-off that begins in May depends on where the United States economy sits in the business cycle. In the early stages of the cycle, sell-offs that begin in May a...Read More