"We don't comment on internal meetings, but no final decisions have been made on content or timing."Continue..Read More
– Hungarian National Bank (MNB) to repatriate 100,000 ounces gold from Bank of England – Follows trend of Netherlands, Germany, Austria and Belgium each looking to bring gold back to home soil – Hungary one of the smallest gold owners amongst central banks, with just 5 tonnes – Central bank gold purchases continue to be major drivers of gold market – Russian cent...Read More
For those that follow me regularly, you will know that I have been tracking a set-up for the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX), which I analyze as a proxy for the metals mining market. I also believe that GDX can outperform the general equity market once we confirm a long-term break out has begun, and I still think we can see it in occur in 2018. This week, I will provide an update to...Read More
The past 18 months have been difficult for precious metals investors. If you had known Donald Trump would be elected and the US Dollar would soon begin a nearly 15% decline, you would have expected Gold to blow past its 2016 high. You would have been shocked to see the gold miners and junior gold stocks trading lower. Gold has fared okay but the gold stocks and Silver have lagged. As US equities h...Read More
This is a bad sign for an industry that is expected to see peak output during 2018Continue...Read More
(Kitco News) - Gold could return back to its $1,300 barrier before going back up to $1,350 later this year, according to TD Securities.“Gold is currently trading around $1,320/oz, with the 10yr yield near 2.9% and the DXY above 90, it appears as though the yellow metal may look to test $1300/oz as we approach the March 21st FOMC meeting,” Bart Melek, head of commodity strategy with TD...Read More
WASHINGTON (Reuters) - Conservative commentator Larry Kudlow has emerged as a strong contender to succeed Gary Cohn as President Donald Trump’s top economic adviser, a source familiar with the matter said on Monday.Kudlow, a CNBC contributor, is a long-time friend and informal adviser to Trump. It was unclear how soon Trump would make up his mind.Chris Liddell, a former executive at Microsof...Read More
NEW YORK (Reuters) - U.S. national security adviser H.R. McMaster said on Monday that Washington is optimistic about an opportunity for President Donald Trump to meet with North Korean leader Kim Jong Un but is determined to keep up pressure on Pyongyang to denuclearize.“We may be able to pursue a diplomatic solution to the complete denuclearization of the Korean Peninsula. So we’re de...Read More
WASHINGTON (Reuters) - President Donald Trump spoke on Monday with Canadian Prime Minister Justin Trudeau about the steel and aluminum import tariffs Trump announced last week, the White House said.Trump also emphasized the importance of quickly concluding ongoing negotiations on the North American Free Trade Agreement (NAFTA)“to ensure the vitality of United States and North American manufa...Read More
William SchombergLONDON (Reuters) - Britain’s finance minister is expected to announce on Tuesday a modest improvement in the country’s slow economic growth outlook in the run-up to Brexit, raising the prospect that he might relax his grip on public spending later this year.But Philip Hammond will use a half-yearly update on the public finances to stress that his priority remains to ea...Read More
BRASILIA (Reuters) - U.S. President Donald Trump’s decision to slap tariffs on imported steel and aluminum could spark retaliation from other countries and lead to unforeseen consequences, the head of the World Trade Organization said on Monday.“You know when it starts but not how it will turn out” when countries engage in mutual retaliation, WTO Director-General Roberto Azev&eci...Read More
Allison LampertMONTREAL (Reuters) - Canadian Prime Minister Justin Trudeau promised aluminum and steelworkers on Monday he would defend them against possible U.S. tariffs and called U.S. President Donald Trump to stress that“mutually beneficial” cross-border supply chains should be preserved.Trump said last week he would impose import tariffs of 25 percent on steel and 10 percent for a...Read More
- Recent stock market selloff showed gold can deliver returns and reduce portfolio risk- Gold's performance during stock market selloff was consistent with historical behaviour- Gold up nearly 10% in last year but performance during recent selloff was short-lived- The stronger the market pullback, the stronger gold's rally- WGC: 'a good time for investors to consider including or adding gold as...Read More
Focus in on retaliation measures after Trump's tariff. Traders have ignored the exceptional US February nonfarm payroll numbers. Global stock markets are expected to rise. Sentiment for the US dollar is still weak. Now the focus will be on the FOMC meet. The pace of interest rate hikes is the key and not the actual hike. An early Easter (in March) does have temporary economic implications. I b...Read More
Qualcomm drops after deal scuttled; Texas crude retreatsWhite House moves keep investors guessing; Treasuries gainArbuthnot Latham's Perdon Says U.S. Financials a Good Place to BeU.S. equities fell for the second straight day as markets took in Tuesday’s economic and political news. The 10-year Treasury yield fell while the dollar held steady.While an inflation report reinforced the sense t...Read More
Selling pressure in gold, as well as a strong U.S. dollar, have canceled each other out to leave gold unchanged on the day. As of 3:30 PM Eastern standard time, April gold futures are currently unchanged and trading at $1,324 per ounce.Spot gold is currently fixed at $1,322.90, which is a net loss of $0.20 on the day. According to the Kitco Gold Index, a weakening U.S. dollar is adding $3.40 value...Read More
Shares in Newcrest Mining fell more 4.6 per cent Monday after the miner declared that its performance for fiscal 2018 will be definitely affected by the breach of a tailings dam wall at its Cadia gold mine."Whilst it is too early in the evaluation and recovery process for Newcrest to provide an indication of the extent to which FY18 production, capital and cost guidance will be impacted, this even...Read More
Stocks started the day off strong, as traders continued to react to Friday's jobs report. However, lingering concerns President Donald Trump's tariffs -- set to be implemented later this month -- and big sell-offs for blue chips Intel (INTC), Boeing (BA) and Caterpillar (CAT) sent the Dow down 157 points at the close. Tech stocks outperformed, however, with the Nasdaq locking in a fresh record clo...Read More
Vancouver-based Caza Gold and Arctic Blockchain have agreed to merge through a transaction described as a "reverse takeover" of Caza by Arctic. This means that the former will change its business from a mining issuer to a technology issuer. Even though the terms of the transaction are still to be defined, the idea is that following completion former Arctic shareholders will hold approximately 98.2...Read More
Lewis KrauskopfNEW YORK (Reuters) - U.S. President Donald Trump’s move to impose tariffs on steel and aluminum imports has rippled through financial markets, but stocks appear to be shrugging off the potential for a broader global trade war, according to Goldman Sachs strategists.As Trump’s tariff plans to levy steel imports at 25 percent and aluminum at 10 percent have come to light i...Read More