(Kitco News) - Central banks are not onlypurchasing more gold than in recent years, but a number of new buyers haveentered the fray.This includes Poland and Hungary,the first European Union nations to buy gold since the start of the century,said Junlu Liang, senior analyst with the consultancy Metals Focus. In the caseof Hungary, the central bank not only bought its first gold in 32 years, butalso...Read More
(Kitco News)- Wall Street looks for gold prices to rise next week, although many in the weekly Kitco News gold surveyalso described themselves as neutral at the moment due to uncertaintysurrounding U.S. midterm elections on Tuesday.Main Street remainedbullish.The Republicans are seenmaintaining control of the U.S. Senate, but news reports suggest Democrats havea chance to take control of the House...Read More
Shares in Australian Mines (ASX:AUZ) closed 25 percent higher on Friday in Sydney after the company announced it had partnered with an Indian firm to evaluate the use of scandium in next-generation battery storage technology.The Perth-based miner said its planned collaboration with India's Amrita Centre for Research and Development's Centre of Excellence in Advanced Materials and Green Technologi...Read More
Nov 02, 2018 Guest(s): Keith Neumeyer CEO, First Majestic Based on supply and demand fundamentals, there is currently a deficit in the silver market, said Keith Neumeyer, CEO of First Majestic Silver. "First Majestic is a member of the Silver Institute, and the Silver Institute does publish annual numbers, and these annual numbers show that the miners, globally, have produced 800 million ounces...Read More
Last week, two of Canada's largest gold miners reportedlosses for the third quarter, continuing a disappointing run that has seen theindustry struggle to attract investors. Barrick Gold (ABX) reporteda $412m net loss due to a $405m impairment on itsLagunas Norte project in Peru, while Goldcorp (GG) swungto a $101m loss from a net profit of $111m a yearearlier. These disappointing results were...Read More
(Kitco News) - Gold prices aremodestly lower in early U.S. trading Friday, in the immediate aftermath of avery upbeat U.S. jobs report that falls into the camp of the U.S. monetarypolicy hawks, who want to see interest rates continue to ratchet higher. Goldprices had already been under some pressure prior to the report, on a normalcorrective pullback from Thursday’s good gains. December gold...Read More
Standard Chartered says gold hasreasserted its safe-haven status ahead of U.S. midterm elections next week andin response to October weakness in the stock market. Any further weakness instocks would bode well for gold prices, the firm says. “Although the largestgold-buying festival is a major event in the gold calendar, demand leading upto Diwali [festival in India on Nov. 7] has been weaker...Read More
Cardero Resource Corp. (TSXV: CDU) announced today that it has completed the acquisition of an undivided 100% interest in the Zonia copper deposit, originally owned by Redstone Resources Corp.The Zonia Copper Oxide Project, located in central Arizona, has been held under private ownership for almost 100 years and has undergone comprehensive exploration, metallurgical studies and mine development p...Read More
After Wednesday's ugly trade,gold spiked on Thursday, testing the $1,240 level once again. Although goldbroke down through $1,220, trading as low as $1,215, it immediately bouncedback to the $1,240 resistance level.Gold looks poised to make a bigup move and push through $1,240 resistance sooner rather than later. Gold'srally may have been sparked by the weaker dollar; however, gold has beengaining...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average declined on Friday, following three straight days of gains for the blue-chip index.The U.S. added 250,000 jobs to payrolls in October, and annual workers' wage growth rose to 3.1%.Apple Inc. (AAPL) slumped 6.6%, it's worst day in nearly five years, after the iPhone maker's fiscal fourth-qu...Read More
NEW YORK (Reuters) - The dollar rose against the yen and the euro on Friday in a choppy session, as worries that a trade deal between the United States and China may not be imminent curtailed risk appetite and boosted safe-haven demand for the greenback.White House economic adviser Larry Kudlow told CNBC that President Donald Trump has not asked U.S. officials to draw up a proposed trade plan for...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday that a lot of progress had been made with China on trade, and he predicted the world’s two largest economies would reach a very good deal.Speaking to reporters at the White House before departing for a campaign event, Trump confirmed that he would meet with Chinese President Xi Jinping when they are in Argentina for a Nov. 30-...Read More
SPRINGFIELD, Mo. (Reuters) - In rally after rally, President Donald Trump exhorts throngs of red-hatted supporters to treat next week’s congressional elections as a referendum on Trumpism and the grass-roots movement that swept him to power.“You’re voting for me in 2018,” Trump told a raucous crowd in a late September appearance for Republican candidates in Missouri. &ldquo...Read More
Gold buying by central banks reaches its highest level since the fourth quarter of 2015.Around $5.82 billion was spent during the third quarter to boost central bank reserves.The buying was offset by heavy selling of gold-backed funds during the same period.David Reid| @cnbcdavy Published8:25AM ET Thu,1 Nov 2018Updated 8:34AM ET Thu,1 Nov 2018CNBC.com Mariya Gordeyeva | ReutersCentral banks aroun...Read More
NEW YORK (Reuters) - Concerns that a trade deal between the U.S. and China may not be imminent reined in a rally in world equity markets and reversed gains on Wall Street on Friday, while strong U.S. wage growth boosted U.S. bond yields.Markets had earlier climbed on hopes that the world’s two biggest economies were mending their shaky trade relations.A steep decline in shares of Apple Inc f...Read More
For one week, Shanghai, China's economic center, will become the center of the global copper industry - representatives from miners, consumers, banks and brokers will convene for the annual Cesco Week. The week is centred on the Cesco dinner on Thursday November 15 evening - to be attended by some 2,000 guests - but there are a host of other well-established functions. The following details the ke...Read More
Base metals prices on the London Metal Exchange were collectively higher at the close of trading on Friday November 2, ending the week stronger despite continued stock outflows and broad strength in the US dollar index.An easing of the trade tensions between the United States and China fueled the price rallies, with the three-month copper price topping the gains and reaching an intraday high of $6...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump has not asked U.S. officials to draw up a proposed trade plan for China, White House economic adviser Larry Kudlow told CNBC in an interview on Friday, adding he was not as optimistic as he once was about the two nations reaching a deal.Kudlow said a meeting between Trump and Chinese President Xi Jinping later this month at the G20 summit was defi...Read More
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump and Chinese President Xi Jinping, who spoke by telephone on Thursday, expressed optimism about resolving their trade dispute ahead of a high-stakes meeting at the end of November in Argentina.But within hours of upbeat assessment, the U.S. Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across...Read More
NEW YORK (Reuters) - The U.S. economy is expanding at a 2.9 percent annualized rate in the fourth quarter, following the latest data on trade balance and domestic payrolls, the Atlanta Federal Reserve's GDPNow forecast model showed on Friday.This was slower than the 3.0 percent pace for fourth-quarter gross domestic product that Atlanta Fed's GDP program calculated on Thursday.Reporting by Richard...Read More