(Kitco News)- The gold market continues tostruggle to maintain momentum as its quiet summer period quickly approaches,but one research firm is expecting that prices will break out of their currenttrading channel by the end of the year and be solidly above $1,400 an ounce in2019.Following a positive firstquarter for gold, the research team at Murenbeeld & Co. increased its priceforecast for the...Read More
EURUSD, “Euro vs US Dollar” EURUSD is forming another descending structure. Possibly, today the price may reach 1.2245 and then fall towards 1.2290. After that, the instrument may start another decline with the target at 1.2190. Risk Warning: the result of previous trading operations do not guarantee the same results in the future GBPUSD, “Great Britain Pound vs US Dollar...Read More
LONDON (Reuters) - Business activity across the euro zone was still growing as the second quarter began, but at a more modest rate than around the turn of the year, a survey showed on Monday.The euro zone unexpectedly was one of the best-performing major economies last year. But after peaking in January, growth has steadily slowed on a strong currency and fears a trade spat between China and the U...Read More
(Reuters) - Oilfield services provider Halliburton Co (HAL.N) reported a 34 percent jump in first-quarter revenue on Monday as rising oil prices prompted North American companies to boost oil and gas production.The company’s revenue from North America jumped nearly 58 percent to $3.52 billion in the three months ended March 31, while revenue from international operations rose 9 percent.Total...Read More
BEIJING (Reuters) - China’s efforts to reduce its reliance on debt and find a more sustainable route to grow its economy may be derailed by the simmering trade dispute with the United States, economists warn.This was the year that Beijing was expected to step up its controls on unfettered lending, particularly in the so-called shadow banking area, as it seeks to contain a dangerous build up...Read More
Earnings season has yet to provide the major catalyst many market-watchers expected"While last week had a positive tone, there is work to be done from a technical perspective...The SPX 2,700 and SPY $270 levels mark the mid-March 'Fed day' closes, when the Federal Open Market Committee (FOMC) raised rates. During the current rate-tightening cycle that began in December 2015, these Fed-day closing...Read More
Mr. Matthew Hornor reportsMAPLE GOLD DEFINES NEW NIKA GOLD ZONE WITH INITIAL DRILL RESULTS FROM GAP AREA BETWEEN PORPHYRY, DOUAY WEST AND NW ZONES Maple Gold Mines Ltd. is providing an update on the continuing winter drilling campaign. The program has ramped up with eight diamond core drill rigs now actively testing all target areas (resource area, NE Syenite and NW Syenite targets). One of the co...Read More
(Kitco News)- On holiday last week, I am missing the nuance of the pastfew trading days. We suggested that the technical picture was looking positivewith the caveat that $1,355 on a close basis was necessary to create furtherupside momentum. Looking at last week's charts, traders were unable to pushgold through this level. The weakness overnight was generated from two factors.The first was North K...Read More
NEW YORK (Reuters) - Investors’ fears of an all-out trade war between the United States and China is prompting U.S. stock fund managers to hunt for companies that can easily pass on higher costs to their consumers.So far, domestic small-to-mid-cap companies that get most of their revenues at home have weathered prospects of higher trade costs the best, with the Russell 2000 index of smaller...Read More
(Reuters) - Toymaker Hasbro Inc (HAS.O) fell 23 cents a share short of Wall Street expectations for profit in the first quarter as the fallout of the Toys ‘R’ Us bankruptcy drove a nearly $100 million shortfall in revenue.Shares of the company fell nearly 8 percent to $76.01 before the bell and were set to open at their lowest since December 2016 after the company blamed the liquidatio...Read More
The U.S. dollar index is breaking out to the upside and ifit gets through 91, then 95 would be the next target. Typically, a strongdollar trumps commodity prices. With gold at $1,330, which is a support level,there is danger that this level will fail. Although there is fear in the equity markets, gold hasstruggled and failed to break out to the upside. Failure to hold above $1,365brings $1,300 bac...Read More
GENEVA/MOSCOW (Reuters) - U.S. allies and rivals spoke out in support of the Iran nuclear deal on Monday, bolstering French President Emmanuel Macron’s pitch to U.S. President Donald Trump that there was no “Plan B” for keeping a lid on Tehran’s atomic ambitions.Macron is on something of a rescue mission for the 2015 Joint Comprehensive Plan of Action (JCPOA), which Trump h...Read More
(Kitco News) - Gold and silver prices are moderately lower in early U.S. trading Monday, pressuredin part by an appreciating U.S. dollar on the world foreign exchange market.There is also little risk aversion in the marketplace at present, which is anegative for the safe-haven metals. June Comex gold futures were last down $8.30an ounce at $1,329.90. May Comex silver was last down $0.208 at $16.95...Read More
HANOVER, Germany (Reuters) - Mexican President Enrique Pena Nieto said on Monday he hoped for agreement soon on a reworked North American Free Trade Agreement (NAFTA), which includes Mexico, the United States and Canada.Speaking at the Hanover trade fair in Germany, Nieto said he believed differences between the parties could be overcome to revamp the 24-year-old accord, which underpins some $1.2...Read More
* LME/ShFE arb: bit.ly/2wZSAEz* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Updates throughout, adds LONDON dateline)By Jan HarveyLONDON, April 23 (Reuters) - Aluminium rose back towards last week’s seven-year high on Monday, driven by concerns that U.S. sanctions on Russian producer UC Rusal could disrupt supply.The metal has rallied 25 percent so far this month and touched its highes...Read More
Precious metals remain on the defensive, with Comex June gold falling as far as $1,325.30 an ounce, whichis the weakest level since April 6. “Theprecious metals complex as a whole is also being buffeted by several otherexogenous variables, including a modest strengthening in the dollar, coupledwith rising U.S. 10-year rates that hit a fresh high of 2.95% on Friday,” saysINTL FCStone. T...Read More
MADRID (Reuters) - A significant global trade war would have very negative economic effects though it is still too soon to say if such a conflict will arise, San Francisco Federal Reserve Bank President John Williams said in an interview with Spanish newspaper El Pais.Such a trade war would destroy supply chains leading to sharp cost increases for consumers, he said. This in turn would lead to a d...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
Miners operating in the Democratic Republic of Congo (DRC) said Monday they were hopeful their current talks with civil society, a member of the mining code revision tri-partite group and other key interested groups, would help iron out issues that need to be dealt with before the country's new mining code is implemented.The group, which includes Randgold Resources, Glencore, Ivanhoe Mines, Ziji...Read More
WASHINGTON (Reuters) - U.S. home sales increased for a second straight month in March amid a rebound in activity in the Northeast and Midwest regions, but a dearth of houses on the market and higher prices remain headwinds as the spring selling season kicks off. FILE PHOTO: A "For Sale" sign is seen outside a home in Cardiff, California February 22, 2016.REUTERS/Mike Blake/File Photo The...Read More