(Kitco News)- SocieteGenerale is “cautiously bullish” on gold prices, looking for the metal toaverage $1,250 an ounce in the fourth quarter and $1,275 in the first quarterand for all of 2019.Thebank released an updated forecast Thursday ahead of next week’s gathering ofthe London Bullion Market Association. The bank said its outlook has notchanged materially since the one issued...Read More
(Kitco News)- Yamana Gold Inc. (TSX: YRI; NYSE: AUY) late Thursday reported a dip inits third-quarter profit but hiked guidance for gold and copper production infull-year 2018.The company also announced an agreement to sell itsinterest in the Gualcamayo mine in Argentina to Colombia-based Mineros S.A.Excluding specialitems, adjusted earnings were $23.6 million, or 2 cents per share, compared to$29...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average fell Friday but came off sharp lows from earlier in the session. The S&P 500 was declining, with the index headed for its seventh loss in eight days. Amazon.com Inc. (AMZN) fell 7.8% after a light revenue outlook and slower international growth from the online retailing giant.Alpha...Read More
NEW YORK (Reuters) - Stock markets around the world fell on Friday on track for the longest weekly losing streak since 2013 while U.S. Treasury prices rose along with demand for safer bets as better than expected U.S. economic data did little to assuage anxiety over disappointing corporate profits and trade wars.Wall Street fell after earnings reports from Amazon.com and Alphabet rekindled a rush...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
NEW YORK (LPC) - Leveraged loans are standing out as the best-performing asset class in an otherwise brutal October as rising volatility in global equities has rippled across the capital markets. While investors pulled US$7.4m from loan funds in the week ending October 24, the first week of outflows in four months, the asset class has been largely unfazed by the risk-off sentiment created by t...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday October 26, with a continued downtrend in the three-month nickel price coming amid better-than-expected third-quarter GDP figures from the US.Reaching an intraday low of $11,810 per tonne on Friday afternoon, the three-month nickel price was trading at a 10-month low amid mounting pressure from a strong US...Read More
NEW YORK (Reuters) - Worries over global oil pricing and pipeline constraints are hanging over the energy sector as U.S. companies begin to report quarterly results, with many producers’ shares trading lower on the year.Third-quarter profits for oil producers generally should be higher than a year ago, because the average price per barrel was up about 44 percent over the same period last yea...Read More
(Kitco News)- Gold held a slight gain but moved little after a government report Friday showedthat U.S. gross domestic product rose by a seasonally adjusted annual rateof 3.5% in the third quarter.Thiswas the government’s first estimate of economic growth for theJuly-September quarter, showing that growth slowed some from 4.2% in the secondquarter. Consensus forecasts compiled by n...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
Brazilian copper producer Paranapanema normalized its production and sales volumes during the third quarter after a scheduled maintenance brought volumes down in the April-June period, the company's earnings report shows.Paranapanema produced 82,000 tonnes in total during July-September, up by 2.5% from 80,000 tonnes a year before. This volume was composed of 43,400 tonnes of cathodes, a 1.81% fal...Read More
WASHINGTON (Reuters) - Authorities in Sacramento, California, are investigating a suspicious package sent to U.S. Senator Kamala Harris, a Democrat who has criticized Republican President Donald Trump, CNN reported on Friday.The report came as law enforcement officials took a suspect into custody in connection with a series of parcel bombs sent to prominent Democrats and other critics of Trump.Rep...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
WINNIPEG, Manitoba (Reuters) - The United States’ trade wars have allowed Canada’s agriculture industry to pump up sales of soybeans and wheat to China, and pork to Mexico.But the same tariff battles are undermining commodity prices and eating into Canadian farmers’ profit margins even as they grab more market share.Their struggles illustrate the complex global consequences of U....Read More
NEW YORK (Reuters) - Stock markets around the world fell on Friday on track for their longest weekly losing streak since 2013 while U.S. Treasury prices rose along with demand for safer bets as better than expected U.S. economic data did little to assuage anxiety over disappointing corporate profits and trade wars.Wall Street plunged after earnings reports from Amazon.com and Alphabet rekindled a...Read More
Craig Hemke, the well-known proprietor of the TF Metals Report invited me on this his new "Thursday Conversation" podcast to discuss the stock market, economy, precious metals and Tesla."If you adjusted the current S&P 500 earnings stream using the same GAAP accounting standard that were applied in 1999, the current S&P 500 P/E ratio - expressed in 1999 GAAP accounting terms - would be the mos...Read More
Key data for the pricing session in the week ending Friday October 26.China The domestic ferro-chrome spot market was stable from the past week but few deals were done. UG2 prices were stable, while the imported charge chrome index eased slightly. Chinese stainless steel mills lowered their tender prices for November delivery...Read More
* LME copper stocks at lowest in nearly 13 years * Global equities head for worst week in more than 5 years * Nickel hits lowest since Dec, aluminium lowest since lastAugust (Adds closing prices, details)By Maytaal AngelLONDON, Oct 26 (Reuters) - Copper fell 1 percent on Fridayas global equities headed for their worst week in more than fiveyears, overshadowing a supply shortage of the metal buildi...Read More
Adam HamiltonArchivesOct 26, 2018 Gold and its miners' stocks have proven rare bastions of strength during recent weeks' market carnage. They are powering considerably higher while nearly everything else burns. The markets' major sentiment shift is accelerating a young gold upleg, which ought to grow much larger as speculators and investors continue returning. Their collective gold positioning rem...Read More
NEW YORK (Reuters) - Federal Reserve officials have tried this week to ease concerns on Wall Street that bank reserves are growing scarce and that the Fed’s key rate will edge up above a policy range, possibly forcing it to permanently hold more assets than planned.Thursday marked the third straight day in which the federal funds policy rate traded at its effective ceiling of 2.20 percent. B...Read More