BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Wednesday it would be negligent to end up in a trade conflict with the United States, which has imposed tariffs on imports of steel and aluminum from some countries.Speaking just days before Chancellor Angela Merkel travels to Washington to hold talks with U.S. President Donald Trump on the issue, Altmaier said: “I remain conv...Read More
Gold now set to make new highs within few weeks (by late April-H1 May), as the US Dollar plunges one last time, in concert with falling equities as we predicted.The next inflection points of these assets will probably be in late April-early May: equities make a sub-cycle trough and resume the bull phase, the US Dollar bottoms.Inversely, during late April-early May, the 10-yr bond yield peaks then...Read More
SINGAPORE/BEIJING (Reuters) - China’s purchases of U.S. soybeans have come to a grinding halt, trade and industry sources say, as fears of further action by Beijing to curb imports of U.S. crops following last week’s anti-dumping move on sorghum rattles the agriculture industry.Buyers from China, which takes 60 percent of soybeans traded worldwide, have not signed any new deals to take...Read More
LONDON (Reuters) - Sky (SKYB.L) withdrew its recommendation of Rupert Murdoch’s contested bid for the European pay-TV group after rival Comcast (CMCSA.O) submitted a higher, 22 billion-pound ($31 billion) cash offer on Wednesday.UK-based Sky, with more than 20 million customers for its sports, entertainment and news channels across Europe, is at the center of a three-way battle for control b...Read More
LONDON, April 25 (Reuters) - The independent directors of pay-TV group Sky said they were withdrawing their recommendation of a takeover bid from Rupert Murdoch’s Fox after U.S. cable company Comcast Corp trumped it with a 22 billion pound ($30.68 billion) offer.“As a result of the announcement of this higher cash offer, the independent committee is withdrawing its recommendation of th...Read More
Kyrgyz state-owned gold miner Kyrgyzaltyn said Wednesday it has yet to see an offer by Chaarat Gold Holdings to acquire Centerra Gold's Kumtor mine, which is the Central Asian nation's largest gold operation.Speaking to Reuters, Kyrgyzaltyn chief executive Bektur Sagynov said the company would have to study Chaarat offer, which would make the London-listed miner Kumtor's operator, while Kyrgyzalty...Read More
The world’s two largest gold-mining companies have announceddividends that are the same as after the prior quarter. Barrick Gold Corp. (NYSE, TSX: ABX), which reportedfirst-quarter earnings on Monday, announces that its board of directorsdeclared a dividend of 3 cents per share, payable on June 15 to shareholders ofrecord at the close of business on May 31. Newmont Mining Corp. (NYSE: N...Read More
LONDON (Reuters) - Shares were on their way to the longest losing streak of the year on Wednesday, as an advance in U.S. bond yields beyond 3 percent and warnings from top global firms about rising costs fed fears a boom in earnings may have peaked.All eyes will be on scandal-hit social media firm Facebook (FB.O) later when it reports its results, though there was plenty to keep investors occupied...Read More
April 25 (Reuters) - Canada's main stock index was set to open lower on Wednesday, tracking losses in global shares, due to rising U.S. bond yields and warnings from top global companies about increasing costs.June futures on the S&P TSX index were down 0.11 percent at 7:15 a.m. ET.Canada's main stock index fell on Tuesday as lower oil prices weighed on energy shares, while investors worried a...Read More
LONDON (Reuters) - The dollar hit a four-month high on Wednesday after a rise in benchmark U.S. Treasury yields above 3 percent rattled some currency bears and led investors to consider whether the greenback was breaking out of a prolonged weak spell.The U.S. 10-year treasury yield has risen to its highest in more than four years, driven by worries about the growing supply of government debt and i...Read More
LONDON (Reuters) - Oil eased on Wednesday, but held in sight of three-year highs reached the previous day, as rising U.S. fuel inventories and production weighed on an otherwise bullish market.Overall, the environment for oil is bullish. Supplier cutbacks, steady demand growth, geopolitical tensions and a favorable structure in the futures market have attracted record investment in oil this year.A...Read More
With all the panic in equitiesTuesday, the metals did not rally enough, indicating that they are headedlower. Goldlooks to be headed for $1,300 and silver $16.40, where they shouldfind some support.The metals markets look weak,especially when looking at the troubles equities are having. The action shouldhave created more upward momentum in the metals, but it did not. This suggeststhat the top end...Read More
BISHKEK (Reuters) - Kyrgyz gold miner Kyrgyzaltyn has not yet seen or studied an offer by Chaarat Gold Holdings (CGH.L) to take over the Kumtor gold mine, its deputy chief executive, Bektur Sagynov, said on Wednesday.Chaarat Gold on Tuesday made a proposal to buy Kyrgyzstan’s largest gold mine, Kumtor, from Canada’s Centerra Gold (CG.TO) for an undisclosed cash sum, in a deal that woul...Read More
* Aluminium still down 18 pct from its mid April peak* LME/ShFE arb: bit.ly/2wZSAEz* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Updates with official prices)By Jan HarveyLONDON, April 25 (Reuters) - Aluminium edged higher after four straight days of losses on Wednesday, but remained down 18 percent from last week’s peak as concerns eased over the impact of U.S. sanctions on Russian pr...Read More
(Kitco News) - Four major gold producers are betting that a new digitalgold market will bring millennials to the table and revitalize the marketplace.On Wednesday, new fintech startup Tradewind announcedthat it raised $10.6 million in a strategic placement. The investment was ledby Agnico Eagle (NYSE: AEM, TSX: AEM),IAMGOLD (TSX: IMG, NYSE: IAG) and Wheaton Precious Metals (NYSE: WPM, TSX:WPM). At...Read More
Mr. Jeffrey Pontius reportsCORVUS GOLD CONTINUES TO EXPAND DEPOSIT WEST, DRILL RESULTS INCLUDE 33.5 METRES @ 2.2 G/T GOLD, MOTHER LODE PROJECT, NEVADACorvus Gold Inc. has received results from three stepout holes in the southwest extension of the Mother Lode deposit highlighted by hole ML18-053 which returned 33.5 metres at 2.2 grams per tonne gold including 19.8 m at 3.3 g/t gold.Assay results re...Read More
(Kitco News) - Gold aresolidly lower and fell to a four-week low in early U.S. trading Wednesday,pressured in part by a resumption of the appreciation of the U.S. dollar on theforeign exchange market. The U.S. dollar index hit a 3.5-month high overnight. June Comex gold futures were last down $10.60 an ounce at $1,322.40. May Comex silver was last down $0.203 at $16.50 an ounce. Worldstock markets...Read More
LONDON (Reuters) - The London Metal Exchange said on Wednesday it would analyze the implications of U.S. sanctions in relation to Rusal’s metal after the Treasury Department gave customers of the aluminum producer more time to comply.“The LME is currently undertaking further analysis in relation to the application of (the extension) in relation to Rusal brand metal, and may issue a fur...Read More
(Adds outlook)April 25 (Reuters) - Precious metals miner Fresnillo Plc on Wednesday reported a 14 percent rise in first-quarter silver production, boosted by the start of phase II operations at the company's San Julian facility in Mexico.Mexico's largest gold producer, which has seven operating mines in the country, said the silver production rose to 15.4 million ounces in the first quarter ended...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