Gold futures edged higher on the latest shakeup in the Trump administration, with Secretary of State Rex Tillerson being replaced by CIA Director Mike Pompeo. The metal was already bid higher after investors viewed February's CPI reading as tame and no reason for the Fed to increase the pace of interest rates. "Gold loves any turbulence," said one trader. Patti Domm| @pattidomm Published 11 Hours...Read More
Barrick Gold's chairman John Thornton has just given a fresh boost to the company's global employee share plan, leading by example.The boss of the world's top miner of the precious metal bought Tuesday 306,000 additional shares in the company, bringing his total share ownership position to 2,720,991 common shares.Two other directors also hiked their stake, Barrick said, including Rob Prichard - w...Read More
(Kitco News)- If history is any guide, next week could signal asignificant buying opportunity for gold investors as long as prices hold criticalsupport above $1,285 an ounce, according to one analyst.“The five rate hikes seen so far in this current cycle allresulted in the same behavior with gold selling off ahead only to rallystrongly once the announcement was made,” Ole Hansen, head...Read More
LONDON (Reuters) - Britain gave Russia until midnight on Tuesday to explain how a Soviet-era nerve agent was used against a former Russian double agent, and U.S. President Donald Trump said he would condemn Russia if British evidence incriminated Moscow.Prime Minister Theresa May, who said on Monday it was“highly likely” that Russia was behind the poisoning of Sergei Skripal and his da...Read More
Primero Announces Shareholders Vote in Favour of Transaction With First MajesticTORONTO, ON--(Marketwired - March 13, 2018) - Primero Mining Corp. ("Primero" or the "Company") (TSX: P) and First Majestic Silver Corp. ("First Majestic") (TSX: FR)(NYSE: AG) are pleased to announce that Primero's shareholders have voted in favour of the arrangement transaction (the "Transaction") at a special meeting...Read More
WASHINGTON (Reuters) - A top U.S. general on Tuesday signaled support for the Iran nuclear deal, saying the agreement, which President Donald Trump has threatened to withdraw from, has played an important role in addressing Iran’s nuclear program.“The JCPOA addresses one of the principle threats that we deal with from Iran, so if the JCPOA goes away then we will have to have another wa...Read More
WASHINGTON (Reuters) - U.S. consumer prices increased marginally in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation likely will be only gradual.Strong inflation numbers in January had sparked fears that price pressures were accelerating, leading financial markets to expect a more aggressi...Read More
(Kitco News) - Gold prices wereending the U.S. day session with moderate gains early Tuesday afternoon. Theprecious metals saw some safe-haven demand due to increasing concerns aboutturmoil in the Trump administration. A lower U.S. dollar index on this day alsoworked in favor of the metals bulls. April Comex gold futures were last up $5.70an ounce at $1,326.50. May Comex silver was last up $0.069...Read More
It was 1987. Nobody was putting Baby in the corner. The rhythm was gonna get you. And stocks took the biggest single-day dive ever. On Oct. 19, the Dow Jones Industrial Average DJIA, -0.68% slid 508 points to 1,783 for a historic 22.6% loss. So you can imagine the panic investors endured at the time-enough to earn the name "Black Monday." What triggered the crash? Even in hindsight, it's hard t...Read More
Deep Green Resources (DPG), a seafloor mining start-up partnering with Maersk, the world's largest container shipping company, is about to launch a six-week cruise on April 12-14 from San Diego CA to an area of the Pacific Ocean where it will begin a process that it hopes and fully expects will solve the problem of how to mine the minerals and metals essential for a cleaner, greener world in a fa...Read More
Yelp Inc (NYSE:YELP) shares gapped lower in early February, as traders reacted to a disappointing sales forecast. However, the stock last week took out its pre-earnings close -- a pattern that's led to short-term gains this year. In addition, YELP muscled north of a trendline that connected lower highs since November, and retook the $45 level -- triple its initial public offering (IPO) price and t...Read More
FireEye Inc (NASDAQ:FEYE) stock has been on a tear lately, racing to a two-year high of $18.29 last Thursday. If past is precedent, the software name could be gearing up for an even bigger move in the coming months. FireEye stock is down 1.2% today to trade at $17.59, pulling back after logging a fifth straight weekly win. The shares have tacked on 25% in 2018, guided higher by their rising 10-...Read More
LONDON (Reuters) - Sterling rose to a two-week high on Tuesday as the dollar sold off after data showed U.S. consumer price inflation in February cooled and President Donald Trump said he had fired U.S. Secretary of State Rex Tillerson.As the dollar began its sell-off, British Finance Minister Philip Hammond gave his half-yearly economic update on the economy.Hammond upgraded his growth forecasts...Read More
LONDON (Reuters) - Saudi Arabia’s proposals of new metrics to determine when the oil market is balanced signals a shift in OPEC’s targets for a pact on supply cuts that has almost achieved the initial aim of reducing bloated inventories.The Organization of the Petroleum Exporting Countries, Russia and nine other producers cut output from January 2017 by 1.8 million barrels per day (bpd...Read More
After starting the day roughly 200 points higher,the Dow Jones Industrial Average (DJI) has pared most of its gains, as traders react to the firing of Secretary of State Rex Tillerson. President Trump nominated CIA Director Mike Pompeo as Tillerson's replacement, and named Gina Haspel the new leader of the spy agency. Meanwhile, despite easing concerns about inflation, the S&P 500 Index (SPX) and...Read More
NEW YORK (Reuters) - A measure of stress in U.S. dollar funding is expected to intensify into the end of first quarter due to a rising supply of Treasury bills and maturing short-term bank debt, Bank of America Merrill Lynch analysts said on Tuesday.The spread on the three-month London interbank offered rate (LIBOR) and three-month overnight indexed swap rate may widen to 50 basis points before gr...Read More
(Reuters) - Wall Street’s main indexes rose on Tuesday as fears of faster interest rate hikes eased after a tepid U.S. consumer prices data and investors shrugged off news of U.S. Secretary of State Rex Tillerson’s ouster.U.S. President Donald Trump fired Tillerson on Tuesday after a series of public rifts over issues including North Korea and Russia, replacing his chief diplomat with...Read More
• Reviving USD demand prompts some fresh selling on Tuesday. • Rising US bond yields offset cautious sentiment in European markets. • Focus remains on the key US CPI data. Gold maintained its offered tone through the mid-European session and now seems to have entered a bearish consolidation phase. Currently placed at...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said the United States still needed to sort out the facts behind the nerve agent attack in Salisbury, England, that struck down a former spy, and would talk to British Prime Minister Theresa May later on Tuesday.Trump, speaking to reporters at the White House, acknowledged that British authorities have accused Russia in the attack on the former Ru...Read More
MOSCOW (Reuters) - Britain’s ambassador in Moscow, Laurie Bristow, said on Tuesday Britain expected an explanation from Russia on how a nerve agent used in an attack on a former double agent came to be in Britain.“I reiterated the points made by Prime Minister May that we expect by the end of today an account from the Russian state as to how this material came to be used in Salisbury,&...Read More