JOHANNESBURG, Feb 28 (Reuters) - South Africa's new mining minister Gwede Mantashe said on Wednesday he will finalise the latest version of an industry charter which lays out requirements for black ownership levels and other targets in the next three months.Uncertainty around the charter has deterred investment into a sector that accounts for 8 percent of gross domestic product in the world's top...Read More
E-commerce powerhouse Amazon.com, Inc. (NASDAQ:AMZN) is adding yet another company to its list of billion-dollar buyouts. Late Tuesday, news broke that AMZN bought Ring, a smart doorbell maker, for upwards of $1 billion. Although Amazon did not disclose the terms of the deal, it's expected to eclipse the $1.2 billion cost of Zappos to become the retailer's second-biggest acquisition after last yea...Read More
Mr. Stephen Nano reports MIRASOL ANNOUNCES ASSAY RESULTS FROM THE PHASE I DRILLING CAMPAIGN AT THE LA CURVA OCEANAGOLD JV, SANTA CRUZ, ARGENTINAMirasol Resources Ltd. has released results from an 18-hole, 2,550-metre, phase I diamond core drilling program from the La Castora trend at the La Curva OceanaGold joint venture in Santa Cruz, Argentina. Figures associated with this news release are avail...Read More
U.S. stocks appear ready to move on from the jittery risk-off session created by Fed Chair Jerome Powell's testimony yesterday. Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are all modestly higher, although not high enough to erase theirmonthly losses. This will mark the Dow and S&P 500's first monthly loss since March 2017. Elsewhere, investors a...Read More
Etsy Inc (NASDAQ:ETSY) reported earnings after the close yesterday and results widely topped expectations. The internet marketplace operator's top- and bottom-line figures blew past estimates in the fourth quarter, driven by more than $1 billion in gross merchandise sales (GMS). The full-year sales forecast was also stronger than analysts expected, prompting a few to upwardly revise their outlooks...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Iamgol...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Gold h...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
This week I'm looking at broker recommendations provided by Zacks Investment Research. For each stock, we know the number of analysts in coverage along with their rating. Ratings can be "strong buy," "buy," "hold," "sell," or "strong sell." We generally look at ratings as a contrarian indicator because analysts generally follow stock prices rather than lead them. Therefore, when a stock is moving...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.For th...Read More
• Subdued USD demand/risk-off mood lends some support. • Firming Fed rate hike expectations should limit strong gains. Gold extended its consolidative price action through the early European session on Wednesday and remained within striking distance of 2-1/2 week lows. With investors still digesting the new Fed Chair Jerome Powell's fi...Read More
The drop in gold prices has revived interest in put options. Risk reversals turned negative on Feb. 22. The double top-like pattern seen in gold's (XAU/USD) daily chart seems to have revived interest in the bearish bets - put options. The XAU/USD one-month 25 delta risk reversals turned negative on Feb. 22 and hit a low of -0.30 yesterday. As of writing, it is seen at -0.25. The decline from...Read More
Dollar rallies hard after Powell's testimony.Gold is now at clear risk of breking through its February lows.If it does, $1,240 is the next support price - almost $80 an ounce away.The downswing in the gold price (NYSE:GLD) yesterday should definitely put swing traders on alert that lower prices are coming. Gold now is in clear danger of breaking though the lows its printed on the 9th of Februa...Read More
U.S. consumer confidence jumped to a 17-year high as optimism about employment prospects grew and Americans began seeing additional money in their paychecks from recently enacted tax cuts, data from the New York-based Conference Board showed Tuesday.Highlights of Consumer Confidence (February)Confidence index rose to 130.8 (est. 126.5), highest since Nov. 2000, from downwardly revised 12...Read More
Here Are 4 Hot Things to Know About Stocks Right Now Before Tuesday's declines, the Dow Jones Industrial Average and S&P 500 had risen for three straight sessions.The Dow remains more than 1,200 points below its all-time high set on Jan. 26.U.S. 10-year Treasury yields rose to 2.915% after Fed Chairman Jerome Powell hinted at more than three rate hikes in 2018.Consumer confidence in Feb...Read More
Fed must strike balance to avoid overheat amid low inflationHis first testimony as Fed chair sounds upbeat note on economyFed Chair Jerome Powell will tell Congress he expects rates to rise. Bloomberg's Mike McKee reports.Jerome Powell opened the door to the Federal Reserve raising U.S. interest rates four times this year as he acknowledged stronger economic growth may prompt policy makers to reth...Read More
Orders for business equipment at U.S. factories unexpectedly fell for a second month, a sign that demand is cooling from its hot pace in recent quarters, a Commerce Department report showed Tuesday.Highlights of Durable Goods (January)Non-military capital goods orders excluding aircraft declined 0.2% (est. up 0.5%) after falling 0.6% the prior month Shipments of those goods, wh...Read More