Equities had what's known in thebusiness as a rip-your-face-off rally Monday, exploding almost 500 points. Therally was no surprise; six ugly days in a row usually leads to a viciousshort-covering rally. That's exactly what we got -- a short squeeze in a marketthat has topped.Gold also had a nice rally onMonday, not as powerful as equities but certainly based on the sameshort-covering set-up. Afte...Read More
ELKO, Nev., Feb. 13, 2018 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today announced completion of the Fall 2017 drilling program and receipt of all certified assay results. The primary purpose of this scout hole program was to obtain more information about important host rock characteristics including, presence, distribution, depth, and the hydrothermal system presence and alteration eff...Read More
* Yen up 1.1 pct on day* Euro rises for 2nd day after falls last week* Dollar retreats after best week since 2016* Rand up after ANC decides to remove Zuma* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 13 (Reuters) - The Japanese yen rose to a five-month high on Tuesday on the back of broad-based selling of the dollar and speculation the Bank of Japan could be close to dialling back...Read More
Mr. David Wolfin reportsAVINO PROVIDES 2017 YEAR END SUMMARY AND OUTLOOK FOR 2018Avino Silver & Gold Mines Ltd. has provided the following 2017 year-end summary and outlook for 2018 for the Avino and San Gonzalo mines and the Bralorne gold mine. Avino and San Gonzalo mines 2017 production highlights: Silver equivalent production -- 2,700,585 ounces (1); Silver production -- 1,394,203 ounces;...Read More
Shares in Seabridge Gold (TSX:SEA) (NYSE:SA) were soaring in pre-market trade in New York after the Canadian company bulked up again its already massive KSM gold-copper-silver project in northern British Columbia in both size and grade.Before the opening, Seabridge stock was already exchanging hands at $10.40, up 4.8% on the New York Stock Exchange, after hiking its estimated inferred gold and c...Read More
Shares in Seabridge Gold (TSX:SEA) (NYSE:SA) were soaring in pre-market trade in New York after the Canadian company bulked up again its already massive KSM gold-copper-silver project in northern British Columbia in both size and grade.Before the opening, Seabridge stock was already exchanging hands at $10.40, up 4.8% on the New York Stock Exchange, after hiking its estimated inferred gold and c...Read More
Currently, gold (XAU/USD) is trading at $1327, having left higher low along the upward sloping 50-day MA last week. The metal is up 1.52 percent from last week's low of $1307.05, but bull market revival is still not confirmed, indicates technical chart. 4-hour chart The above chart shows- The metal has been trapped in a rising channel and has tested the head and shoulders neckline (now...Read More
Rio Tinto (LON:RIO) has become the sole owner of Pistol Bay Mining's. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, by making a final payment of $1 million in cash.With the acquisition, the world's second largest miner is materializing plans of grabbing those three assets, which are located close to Cameco's McArthur River mine - the world's largest producing uraniu...Read More
* Euro rises for 2nd day after falls last week* Dollar retreats after best week since 2016* Yen hits five-month high, up 0.9 pct on day* Rand edges up with Zuma closer to exit* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 13 (Reuters) - The euro gained on Tuesday as gains in global equity markets encouraged traders to sell the dollar and tiptoe back into riskier assets.The dollar was...Read More
DUBAI, Feb 13 (Reuters) - Gold trader Regal RA DMCC has become the first company in the Middle East to be awarded a licence by the Dubai Multi Commodities Centre (DMCC) to trade in cryptocurrencies.The licence allows the company to store bitcoin, ethereum and other alternatives to the best-known digital currencies in a vault located in the headquarters of the commodities free zone, DMCC said in a...Read More
A Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) worker died on Monday night while clearing a blocked ore pass at the company's Driefontein gold operation in South Africa, less than a week after a fall of rocks at its Kloof mine killed two people.The precious metals miner said investigations into the latest incident by management together with the department of mineral resources (DMR) and other releva...Read More
(Adds details from statement, and background)Feb 13 (Reuters) - BHP Billiton said on Tuesday it will record a $1.8 billion income tax expense due to cuts in the U.S. Federal corporate income tax rate.The expense, which will be treated as an exceptional item, consists mainly of a non-cash charge on deferred taxes of $898 million and another charge on foreign tax credits of $834 million. However, t...Read More
(Adds production details, Moab Khotsong mining rights, CEO quote)JOHANNESBURG, Feb 13 (Reuters) - South African miner Harmony Gold's half-year profit rose 49 percent, boosted by improved performance at its South African operations, the firm said on Tuesday.Headline earnings per share (HEPS), the main profit measure in South Africa that strips out certain one-off items, rose to 2.24 rand per share...Read More
The gold market is ended its second consecutive week in negative territory and many investors are asking: What happened? Gold's losses come as equity markets fell sharply into corrective territory, with the past week seeing the Dow Jones Industrial Average shedding more than 1,000 points in two sessions. However, gold, while notching further weekly losses, has outperformed equity mar...Read More
Here are 4 Hot Things to Know About Stocks Right Now Stocks posted their first two-day winning streak in February.The Dow Jones Industrial Average, S&P 500 and Nasdaq each ended last week down more than 5%, their worst performances since January 2016.Apple Inc. , Boeing Co. and American Express Co. were leading gainers on the Dow on Monday. Energy shares were a standout as U.S...Read More
Dollar's decline helps support prices for raw materialsInvestor focus turns to U.S. inflation outlook and ratesKleinwort Hambros' CIO says opportunities will arise from this market.U.S. stocks surged, with financial markets showing signs of recovery after the worst week in two years for American equities. The 10-year yield fell back from the four-year high hit earlier Monday as the dollar sli...Read More
Bond yields were on the rise again as Wall Street kicked off another trading week. Early Monday, Feb. 12, the yield on the 10-year Treasury note surged as high as 2.902%, tallying a new four-year record. Most recently, the 10-year note was yielding about 2.862% as it came off highs. U.S. stocks held on to gains despite the jump in yields. Rising bond yields come amid growing and sustained c...Read More
Wall Street futures were pointing to a positive open on Monday, as global markets advanced after markets fell to two lows last week on worries of faster inflation and rate rises in the U.S. U.S. markets looked set to start the week in positive territory, giving a reprieve to investors after markets last week saw their worst period in two years. Dow Jones Industrial Average and S&P 500 mini f...Read More
Big news from the Federal Reserve this week.As new Fed Chairman Jerome Powell was taking his seat at the head of America's central bank amid a major market correction, a big decision in favor of the marijuana industry was buried in all the noise.Turns out the Fed just greenlit a new marijuana business.The Federal Reserve approved a master account for Fourth Corner Credit Union, a new Colorado-base...Read More
After two years of seemingly never-ending advances - with very few shallow pullbacks - the market has entered correction territory in record time.It reminds me of a quote from investing legend Warren Buffett:“For you see, Mr. Market is emotionally unstable. Some days he is cheerful and enormously optimistic... At other times, Mr. Market is discouraged and terribly pessimistic...”If Buf...Read More