Gold is trading unchanged on the day, but only until you factor in dollar strength. As of 3:15 PM Eastern standard time, physical gold is currently trading off by $4.30 and is fixed at $1,344.90. However, the KGX (Kitco Gold Index) reveals that dollar strength accounts for all of today’s $4.30 decline. Market participants have not affected current pricing with regular trading resulting in pr...Read More
S&P 500 pares weekly gain as chipmakers under pressureCrude oil falls as Trump slams OPEC; metals rally stuttersAberdeen Standard Investments James Athey discusses inflation expectations and Fed policy.U.S. stocks stumbled into the weekend, as renewed selling in technology shares overshadowed what has so far been a solid earnings season. Inflation concerns sent the dollar higher and Treasury yield...Read More
Frank Giustra-backed Fiore Gold (TSXV: F) announced today that its Pan Mine, located in east-central Nevada, registered a 130 per cent production growth in Q2 2018, compared to the previous quarter.The Carlin-style, open-pit, heap-leach operation generated 8,695 ounces of gold during the second fiscal quarter that ended on March 31, 2018, which allowed the company to sell 8,673 ounces of the yello...Read More
It took Colombian authorities about three hours to be able to dig a back access entrance and free 14 people that were trapped inside a gold mine in the Marmato municipality of the Caldas province.According to the regional Department of Risk Management, Environment and Climate Change, La Socorro's mine main entrance collapsed on Wednesday at around 4 p.m., leaving over a dozen workers trapped insid...Read More
AAPL was one of the biggest contributors to the Dow'slossU.S. stocks finished the day in the red, with chip stocks taking a hit following a weak outlook from Taiwan Semiconductor (TSM). Signs of softer smartphone demand weighed on Apple (AAPL) and its suppliers, with the iPhone maker one of the Dow's biggest decliners today. An ugly earnings reaction for Procter & Gamble (PG) also kept the blue-ch...Read More
(This April 18 story corrects to clarify Jacob Frenkel is chairman of JPMorgan Chase International, not JPMorgan)By Francesco CanepaFRANKFURT (Reuters) - European Central Bank President Mario Draghi has decided to remain a member of an opaque club of top figures in finance despite a watchdog’s call to leave it to protect the ECB’s reputation.The Group of 30 is a private forum of financ...Read More
LONDON (Reuters) - The chairman of the British charity Save the Children resigned on Thursday, eight months before the end of his term, after the non-profit world was rocked by allegations of sexual misconduct and harassment.Alan Parker, the founder of communications group Brunswick, said in a letter to colleagues that he had resigned from the boards of Save the Children Association and Save the C...Read More
WASHINGTON (Reuters) - Democratic U.S. Senator Heidi Heitkamp said on Thursday she would vote in favor of Republican President Donald Trump’s nominee to be secretary of state, Mike Pompeo, making it likely that the CIA director will be confirmed to take the post.A moderate up for re-election this year in North Dakota, a state Trump won easily in 2016, Heitkamp is the first Senate Democrat to...Read More
(Kitco News) - Silver’s rally this week could be big enough to trigger a price breakout, according to one market analyst.Silver is having a great week after hitting a 2.5-month high on Wednesday. The following day, prices remained steady, with May Comex silver last at $17.24 an ounce, down 0.08% on the day.“Yesterday’s surge in silver finally sprung it free from the congestion it...Read More
A collar is a relatively low-cost way to hedge your sharesEarnings season is here once again, and investors are understandably more on edge. Earnings create volatility -- and for many shareholders, anxiety. Fortunately, there are several options strategies that allow shareholders to protect their profits. The collar is a low-cost hedging strategy that can help nervous traders sleep peacefully at n...Read More
Both QCOM and PM are at risk for downgrades, tooThe U.S. stock market is selling off today, as the 10-year Treasury yield trades near 2.93% -- its highest level since late February. Among individual stocks making big moves lower are pharmaceutical ingredients distributor Aceto Corporation (NASDAQ:ACET), semiconductor firm Qualcomm, Inc. (NASDAQ:QCOM), and tobacco titan Philip Morris International...Read More
WASHINGTON (Reuters) - The Office of the Inspector General at the U.S. Department of Justice has referred its findings on former FBI Deputy Director Andrew McCabe to the U.S. attorney in Washington for possible criminal prosecution, according to a person familiar with the referral on Thursday.Spokesmen for the Justice Department and its inspector general’s office declined to comment to Reute...Read More
Andy BruceLONDON (Reuters) - Bank of England Governor Mark Carney on Thursday dampened widespread expectations for an interest rate hike in May, pointing out there were also “other meetings” this year.Sterling dropped almost a cent against the U.S. dollar GBP=D3 to its lowest level since April 9 on the back of the comments, in which Carney highlighted "mixed" economic data.“I don...Read More
WASHINGTON (Reuters) - The Trump administration does not see the Cuban people gaining greater freedoms under Cuba’s newly installed president and has no intention of softening its policy toward the island’s Communist government, a White House official said on Thursday.“The United States has no expectation that the Cuban people will see any greater freedoms under Castro’s ha...Read More
Options volume for SMH hit an annual high todayA broad pullback in semiconductor stocks is plaguing the U.S. equity market today, all because of Taiwan Semiconductor's (TSM) smartphone warning. The VanEck Vectors Semiconductor ETF (SMH) has dropped 4.2% as a result -- the biggest single-day drop since November -- and was last seen trading at $100.40. That perch above the $100 level is notable in i...Read More
Gold futures ended lower Thursday, retreating from the one-week high notched a day earlier as the U.S. dollar found its footing. The futures contract, however, remained confined to the tight trading range seen over the last several sessions. June gold GCM8, -0.83% fell $4.70, or 0.4%, to settle at $1,348.80 an ounce. It rose 0.3% Wednesday to finish at $1,353.50, the highest since April 11, accord...Read More
Mr. Jean Martineau reports DYNACOR PRODUCES 6,876 OZ OF GOLD IN MARCH 2018Dynacor Gold Mines Inc. has released its March, 2018, gold production. In March, 2018, the corporation produced 6,876 ounces of gold at its Veta Dorada plant resulting in its best monthly production since the beginning of this year. For the first quarter of 2018, gold production amounted to 19,072 ounces, slightly over mana...Read More
(Adds details, background)BAMAKO, April 19 (Reuters) - A strike has halted gold production at two mines in Mali run by Randgold Resources since Wednesday, two senior union officials told Reuters on Thursday.The strike at the company’s Loulo and Gounkoto mines was related to the payment of bonuses and would continue until the issue was resolved, said Mamadou N’Daou, the administrative s...Read More
Mr. Nigel Lees reportsCLAVOS APRIL MILL RUN UPDATESage Gold Inc. has completed its latest bulk sample mill run. The custom mill processed 6,252 dry tonnes of mineralized material yielding approximately 513 ounces of gold.The mineralized material in the April mill run was sourced from the 150 West, 150 East, 175 East and 200-metre levels.More specifically, the milled material comprised Clavos broke...Read More
Buyers of our suggested call doubled their money by Wednesday afternoonSubscribers to Schaeffer's Expiration Week Countdown service just scored a 100% profit with the Lululemon Athletica Inc. (NASDAQ:LULU) April 90 call. We're going to take a look back to see why we were initially bullish on LULU when we recommended the call, and how the options trade unfolded. At the time of our call recommendat...Read More