Gold prices are taking a pause after rallying on Monday, astraders use the moment for profit taking, says George Gero, managing directorat RBC Wealth Management. “Gold pausing today, may see minor profit taking, asall attention on strong stocks. Weak dollar continues,” Gero writes. One of thelooming risks this week is the U.S. government shutdown, he points out. “Goldpausing to r...Read More
Francesco GuarascioBRUSSELS (Reuters) - The European Central Bank has “flaws” in its procedures for identifying and dealing with banks in crisis, European Union auditors said on Tuesday.The European Court of Auditors, a European Union agency, cast doubt on the ECB’s supervision of the big banks in the euro zone and criticized the central bank’s reluctance to disclose releva...Read More
(Adds quote, updates prices)* Euro takes breather after setting 3-year high on Monday* Cryptocurrencies plunge on crackdown fears* Graphic: World FX rates in 2017 By Jemima KellyLONDON, Jan 16 (Reuters) - The euro fell from a three-year high on Tuesday as investors sold the currency on doubts that the European Central Bank would ditch its pledge to keep buying bonds at next week's meeting.Sources...Read More
Shares in Rio Tinto-controlled Turquoise Hill (TSX, NYSE:TRQ) were hit Tuesday after the miner revealed its massive Oyu Tolgoi copper and gold mine in Mongolia has been handed a $155 million tax bill.The Vancouver-based company said the amount relates to an audit on taxes imposed and paid by the mine operator between 2013 and 2015.Amount relates to an audit on taxes imposed and paid by the...Read More
(Kitco News)- The gold market is finding little traction Tuesday despite weaker than expected sentiment in the New York region's manufacturing sector, according to the latest data from the New York Federal Reserve,Tuesday, in its Empire State Manufacturing Survey, the regional central bank said that its general business conditions index rose to a reading of 17.7 in January, down slightly from 18 i...Read More
(Kitco News) - Gold pricesare near unchanged in early U.S. trading Tuesday, as the bulls catchtheir breath after prices scored a four-month high in overnight action. Meantime,silver prices hit a two-month high overnight. The precious metals markets arebeing supported by a plunging U.S. dollar index and a soaring Euro currency. February Comex gold was last down $0.50 an ounce at $1,334.30. March Co...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
Mr. John Burzynski reportsOSISKO INTERSECTS 76.5 G/T AU OVER 5.0 METRES AT WINDFALLOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee, James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and a...Read More
KIEV, Jan 16 (Reuters) - The results of an audit of PrivatBank, Ukraine's largest lender, have been passed to prosecutors for use in a possible criminal investigation into shady deals made before its 2016 nationalisation, a central bank deputy governor said on Tuesday."We received assurances from the general prosecutor that the results of the forensic audit were received by the general prosec...Read More
Gold (XAU/USD) risk reversals hit a 7-week high. Spot gold looks set to revisit 2017 high of $1357.54. Gold (XAU/USD) one-month 25 delta risk reversals rose to a 7-week high of -0.175 yesterday, indicating a drop in demand for bearish bets (put) on the XAU. The risk reversals gauge bottomed out at -1.375 on Dec. 8. The sharp rise from -1.375 to -0.175 only adds credence to the bullish move in sp...Read More
Mr. David Wolfin reportsAVINO ANNOUNCES FOURTH QUARTER AND FULL YEAR 2017 PRODUCTION RESULTS FROM ITS AVINO PROPERTYAvino Silver & GoldMines Ltd. has released its fourth quarter 2017 and full year 2017 production results from its Avino property near Durango, Mexico. Consolidated production highlights for 2017 (compared with 2016): Silver equivalent production increased 1 per cent to 2,700,585...Read More
After breaking down and trading as low as $1,238, gold has turned around and broken out to the upside closing over $1,330 last week, turning in a dramatic bull run culminating on Friday with a huge up day and 5th week in a row with gains. Can this breakout hold?As we look at the price action, there is no doubt that this is a breakout. Every attempt to slow gold has been met with buyers. Much like...Read More
* Dollar recovers some poise after hitting 3-mth low* Palladium slips below Monday's record high* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl(Updates throughout, adds LONDON dateline)By Jan HarveyLONDON, Jan 16 (Reuters) - Gold fell on Tuesday from the previous day's four-month high, reflecting losses across precious metals and commodities more widely, as the dollar clawed back some lost ground...Read More
Marc JonesLONDON (Reuters) - Asia and Europe’s big bourses kept world shares on their record-breaking run on Tuesday, though a steadier dollar halted the sizzling start to the year for the euro, yen and yuan and sent metals markets sprawling.MSCI's all-country world index .MIWD00000PUS notched its third consecutive all-time high as growing confidence about the global economy pushed Japan's h...Read More
VANCOUVER, British Columbia, Jan.16, 2018(GLOBE NEWSWIRE) -- First Majestic Silver Corp. ("First Majestic" or the "Company") (NYSE:AG) (TSX:FR) is pleased to announce the Company's fourth quarter and full year 2017 production results, as well as production and cost guidance for 2018. Production costs are scheduled to be released on February 28, 2018 with the Company's full-year and fourth quart...Read More
Gold demand is set to jump this year thanks to government policies targeted at transparency and economic growth, the World Gold Council said Tuesday in its annual outlook report.In particular, the industry body believes that gold will maintain its relevance as a strategic asset in 2018 thanks to four key trends - synchronised global economic growth, shrinking central bank balance sheets, risin...Read More
Gold demand is set to jump this year thanks to government policies targeted at transparency and economic growth, the World Gold Council said Tuesday in its annual outlook report.In particular, the industry body believes that gold will maintain its relevance as a strategic asset in 2018 thanks to four key trends - synchronised global economic growth, shrinking central bank balance sheets, risin...Read More
Mr. Christian Milau reports PACIFIC ROAD EXERCISES NON-DILUTION RIGHTS TO ACQUIRE ADDITIONAL COMMON SHARES OF EQUINOX GOLD Pacific Road Resources Funds has provided notice to Equinox Gold Corp. of the exercise of its pre-existing non-dilution rights and will acquire an additional 21 million Equinox Gold common shares for aggregate proceeds to the company of $19,215,000, subject to TSX Venture Exch...Read More
Even after the impressive 5-week rally, gold prices still have upside potential.Some key industrial commodities are pointing the way higher.Meanwhile, internal momentum remains supportive of the XAU rally.After a strong start to the New Year, what some traders think is just a temporary short-covering rally gold will likely prove otherwise. As I'll argue here, the metal has enough support to contin...Read More
Canada's gold producer GoldCorp Inc. said on Tuesday its all-in sustaining costs are expected to fall further to $800 per ounce in 2018 from $825 per ounce in 2017.The company's 2017 preliminary gold production of 2.6 million ounces was at the high end of its forecast range.U.S.-listed shares of the company were up 5.5 per cent at $15.14 premarket, on track to hit a nine-month high when market ope...Read More