CloseGain/LossGold $1233.20+$16.30Silver$14.74+$0.46XAU67.19+4.52%HUI149.73+4.84%GDM544.52+3.60%JSE Gold1139.52-24.28USD96.27-0.74Euro114.11+0.86Yen88.87+0.25Oil$63.69-$1.6210-Year3.139%-0.008T-Bond138.50+0.375Dow25380.74+1.06%Nasdaq7434.06+1.75%S&P2740.37+1.06% The Metals: Gold climbed steadily higher throughout most of world trade and ended near its midafternoon New York high of $1237.40...Read More
In our latest video update, we consider the performance of markets in a volatile October. Stock markets globally fell sharply while gold acted as a hedge in all currencies, rising 1.7% in dollars, 4.4% in euro terms and 4.2% in sterling terms.Stocks Fall Sharply in OctoberThe S&P 500 is just short of a 10% decline from its record September high and remains on pace for the worst month since 2009....Read More
(Kitco News) - Gold prices remained near daily highs as the U.S. Labor Department showed that the initial weekly jobless claims declined to 214,000 in the week to Saturday.Market consensus called for initial claims to fall to 213,000 from the revised level of 216,000 reported in the previous week. The December Comex gold futures were not impacted by the data, with prices continuing to trade near d...Read More
Turkish steel producers made no purchases in the deep-sea scrap market on Thursday November 1, with a fresh offer of material from the Baltic Sea region failing to find a taker, according to market participants.A scrap merchant in the Baltic Sea region was heard offering 30,000-35,000 tonnes of HMS 1&2 (95:5) at $345 per tonne cfr on Thursday. No mill had accepted the cargo at...Read More
(Reuters) - From suburbs to conservative rural areas, Democrats seeking a majority in at least one house of the U.S. Congress in next week’s elections are spending the last days of the campaign on one message: They will protect Americans’ healthcare coverage.The strategy is clear in campaigns like that of Democrat Andy Kim, who has spent the past 16 months trying to unseat Republican U...Read More
Copper prices on the Comex exchange in New York maintained their recovery in the morning of Thursday November 1, with a weaker dollar providing support to the base metals complex.The copper price for December settlement on the Comex division of the New York Mercantile Exchange rose day on day by 2.60 cents per lb to $2.6850 per lb."After a largely down session across a number of commodity complexe...Read More
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump on Thursday said trade discussions with China were “moving along nicely” and that he planned to meet with Chinese President Xi Jinping at the upcoming G-20 summit, after the two had a “very good” talk.Earlier on Thursday, Chinese Premier Li Keqiang told a group of visiting U.S. politicians that China and the United...Read More
From left to right, the late Paul Burkett, Roy Davis, Tom GeswicAlliance Mining Corp. [ALM-TSXV] on Thursday November 1 said recent analysis of the 2006 drill logs from its Tonopah uranium project in Nevada has revealed the presence of vanadium in both the oxidized and non-oxidized clastic sediments.Alliance Mining shares rallied on the news, rising 40% or $0.01 to 3.5 cents.Alliance said vanadium...Read More
DODGE CITY, Kan. (Reuters) - Clemente Torres has proudly cast his vote in person at Dodge City’s lone polling place in every election since he became a naturalized citizen 20 years ago.This year is different.After Republican officials said in September they would move the Hispanic-majority city’s only polling place to a remote spot outside the city limits, across railroad tracks and aw...Read More
(Kitco News) - Gold pricesare posting good gains in early U.S. trading Thursday. Traders stepped in tobuy the dip in gold prices on some perceived bargain hunting and by some shortcovering from the futures traders. Also, precious metals are seeing buyinginterest as the U.S. dollar index is posting sharp losses today, on acorrective pullback from recent gains that pushed the index to a 16-month hig...Read More
* Gold jumps after three sessions of losses * Dollar retreats from 16-month highs * Platinum hits highest since July 9 (Updates prices)By Swati VermaBENGALURU, Nov 1 (Reuters) - Gold rose more than 1 percenton Thursday, rebounding from a three-week low touched in theprevious session, and spurred by the dollar's retreat frommulti-month highs.After falling for three days, spot gold gained 1.2percent...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump in a tweet on Thursday said he had a “very good” talk with Chinese President Xi Jinping on trade and North Korea and that the two planned to meet at the upcoming G-20 summit.“Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade,” Trump w...Read More
Note: all numbers are rounded.* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver andUS$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver and 98.9% gold.**UB signifies an underground core hole. BA is a surface core hole.All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.H...Read More
(Reuters) - U.S. stocks opened higher on Thursday, leaving behind a brutal October, as a slew of positive earnings reports helped boost risk sentiment.The Dow Jones Industrial Average .DJI rose 26.32 points, or 0.10 percent, at the open to 25,142.08.The S&P 500 .SPX opened higher by 5.84 points, or 0.22 percent, at 2,717.58. The Nasdaq Composite .IXIC gained 21.92 points, or 0.30 percent...Read More
Penny stocks are often dangerous for individual investors. Generally described as stocks with a price under $5, the group usually consists of quite a few fallen angels and growth stocks that haven’t reached, and potentially won’t reach, their potential.But there are diamonds in the rough. During the financial crisis, several stocks hit penny stock status. Pier 1 Imports (NYSE:PIR) went...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
Benchmark international prices for cobalt stabilized last month, but salts and metal prices fell in China amid weak demand and falling local futures prices, triggering a physical sell-off.Price moves: Benchmark low-grade cobalt traded in the remarkably stable range of $33.50-34.45 per lb in October, where the assessment also ended the month. Tightness continued in the low-grade market, which takes...Read More
WASHINGTON (Reuters) - New applications for U.S. unemployment aid fell last week and the number of Americans receiving benefits was the lowest in more than 45 years as labor market conditions tightened further.Other data on Thursday showed worker productivity slowing in the third quarter, but still growing at a relatively decent clip and compensation surging, adding to recent reports and anecdotal...Read More
MINNEAPOLIS - Minnesota regulators on Thursday granted key permits to the long-planned PolyMet copper-mining project that's opposed by environmentalists who fear it could someday foul waters, including Lake Superior.The state Department of Natural Resources issued permits to PolyMet Mining Inc. for the company's proposed NorthMet project in northeastern Minnesota. The project still needs permits f...Read More
CALGARY - Suncor Energy Inc. is reporting third-quarter operating income of $1.56 billion, an 80 per cent increase over $867 million in the same period of 2017.The earnings amount to 96 cents per share, in line with analyst expectations of 95 cents according to Thomson Reuters Eikon, but well ahead of 52 cents in the third quarter of 2017.Suncor attributes the increase to higher crude oil prices a...Read More