Thunder Bay, ON - Wolfden Resources continues to drill high-grade massive sulphide mineralization at its Pickett Mountain project in Maine, where it has two diamond drills turning.In its latest results, Wolfden reported a 12.7-metre intercept starting from 240 metres below surface, and grading 6.6% zinc, 2.8% lead, 1.5% copper, 99.4 g/t silver, and 0.6 g/t gold (or 10.9% combined zinc, lead and co...Read More
Yes - cash is back. Once again people who don't want to take on the risks of the stock market or the bond market or the gold market or any other market - and just want a reasonable rate of return on their savings without having to worry - are starting to feel some love. Interest rates on two-year certificates of deposit or CDs - not quite "cash," but pretty close - have just cracked 3% for the fir...Read More
Mr. Rudi Fronk reportsSEABRIDGE GOLD DRILLING SUCCESSFULLY EXPANDS IRON CAP DEPOSIT AT KSMThe first two holes completed in this summer's drilling on the Iron Cap deposit at Seabridge Gold Inc.'s 100-per-cent-owned KSM project in northwestern British Columbia, Canada, have intersected some exceptional widths of gold and copper mineralization with grades exceeding the KSM resource average. Results f...Read More
BOSTON - (Kitco News)- The Nov. 6 mid-term elections could have a direct impacton the physical bullion market, according to the head of Perth Mint.Richard Hayes, CEO of Perth MintRichard Hayes, CEO of the Australian mint, told Kitco News on thesidelines of the London Bullion Market Association’s 2018 precious metalsconference that if Democrats regain control of Congress next week he wouldexp...Read More
BOSTON -(Kitco News)- While gold investors havelamented the lackluster price action as a sign that nobody cares about theyellow metal, the world’s most liquid gold marketssaid that perception is the farthest thing from the truth.Young-Jin Chang, global head of metals at CME GroupIn an interview with Kitco Newson the sidelines of the 2018 London Bullion Market Association annual PreciousMeta...Read More
(Kitco News) - Goldmay need further weakness in the equity market to retain its October rally,says TD Securities.Themetal spent much of the summer “in the gutter” as bearish traders piled onshort positions, the firm pointed out a research note late Monday. However, a sharpcorrection lower in equities this month convinced many of these shorts to buyin order to cover, or exit, positions....Read More
(Kitco News) - Despite this October yielding one of the worst stock market performances since 1987, Janet Yellen, former Chair of the Federal Reserve, remained optimistic in her economic outlook. "At least in regards to the United States, I really think conditions are excellently excellent," she said during a live interview held at the 2018 Canada FinTech Forum in Montreal on Monday, "we haven't h...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rebounded Tuesday after closing lower for eight of the past 11 sessions.General Electric Co. (GE) fell 9% after disclosing the expansion of federal investigations. The company slashed its dividend, a move that analysts and investors initially cheered.Pfizer Inc. (PFE) declined 1....Read More
WASHINGTON (Reuters) - The U.S. Interior Department’s acting inspector general has referred a probe into Interior Secretary Ryan Zinke’s conduct to the Justice Department for further investigation, media reports said on Tuesday, citing unnamed sources.Referring a probe to the Justice Department means it will explore whether evidence warrants a criminal investigation. Mary Kendall, the...Read More
WASHINGTON (Reuters) - Republican campaigns took a defensive approach a week before elections to determine control of the U.S. Congress, with the party spending more to try to hold on to previously secure House seats and President Donald Trump preparing a six-day trip focused on Senate races.The National Republican Congressional Committee on Tuesday launched a wave of ads targeting 14 House of Rep...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday October 30, with broad strength in the US dollar index prompting sharp drops in the three-month copper and zinc prices, while aluminium drifts to levels unseen since August 2017.Reaching a low of $1,966 per tonne, the three-month aluminium price has come under increased pressure over the latter hal...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold prices remained onthe defensive after a Conference Board report Tuesday showing that its Octoberindex for U.S. consumer confidence rose to 137.9 from a revised Septemberreading of 135.3.Consensus expectationsfrom most news organizations called for a reading of around 136.3 to 136.4. TheSeptember reading had ori...Read More
Weekly Reports |Oct 30 2018Producer buying appears to be becoming more urgent as spot uranium hits a two and a half year high.-Producer buying continues-Prices continue to rise-Utilities weighing up the situationBy Greg PeelProducers of uranium again moved into the spot market early last week, prompting sellers to back off. Producers are meant to be sellers, but have shut down loss-making producti...Read More
A retreat in gold continues in response to a strong U.S. dollar, says George Gero, managing director with RBC WealthManagement. Market participants appear poised to push the dollar index backabove 97, Gero says. As of 9:06 a.m. EDT, the spot dollar index was up 0.209point to 96.788. Comex December gold was down $1.50 to $1,226.10 and earliertraded down to $1,221.40. “It’s still all abo...Read More
London Metal Exchange members will be permitted to clear via London even if no Brexit deal is reached, although it remains unclear whether this reprieve would also apply in the event of Brexit being agreed with a deal on March 29, 2019.European Commission vice-president Valdis Dombrovskis said in media reports on Tuesday October 30 that the move was designed to ensure a catastrophic impact on clea...Read More
NEW YORK (Reuters) - The dollar held on to modest gains near a 2 1/2-month high against a basket of major currencies on Tuesday, supported by worries about an escalation of the Sino-U.S. trade war and more signs the United States economy is outperforming its peers.The dollar index, which measures the greenback against six major currencies, was 0.25 percent higher at 96.823. Earlier in the session,...Read More
WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan said on Tuesday that it was not possible to end birthright citizenship with an executive order, after President Donald Trump said he was considering such a move, the Washington Post reported.“You cannot end birthright citizenship with an executive order,” Ryan, the top Republican in Congress, said in an interview with radio station WV...Read More
Comex copper prices tumbled to a mid-September low on October 30 morning in the US amid rising bearish sentiment in the equity market, a rising dollar and ongoing worries regarding the trade war between the US and China.The copper price for December settlement on the Comex division of the New York Mercantile Exchange tumbled 5.70 cents to $2.6835 per lb. Earlier in intraday trading, the contract h...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comOct 30, 2018 The US stock market continues to gyrate wildly with many key Dow stocks staging truly horrific meltdowns.This market is beginning to look eerily like the bear market that started in 1929.Instead of buying stocks as the business cycle troughed as Barrack Obama was elected, man...Read More
(Reuters) - A bounce back in trade-sensitive chipmakers pushed U.S. stocks higher on Tuesday, after Washington cut off a Chinese semiconductor maker from its U.S. suppliers.The Commerce Department slapped the restriction on Fujian Jinhua Integrated Circuit Co Ltd amid allegations the firm stole intellectual property from Micron Technology Inc and on concerns the firm could flood the market with ch...Read More