Canadian miners' performance slipped in the three months leading to the end of September, due mostly to weaker gold, nickel, copper and zinc prices, the latest report by consultancy Ernst & Young (EY) reveals.Following a 5% drop between April and June this year, gold prices decreased by another 5% in the third quarter, mainly due to the strong US dollar and the recent Federal Reserve rate hike of...Read More
It now takes 23.6% of median income to make the monthly payment on the average-priced home, making housing the least affordable it's been in nearly a decade.Continue...Read More
JOHANNESBURG - South Africa's Harmony Gold reported a 30-percent jump in quarterly total production, the miner said on Tuesday, boosted by its Hidden Valley and Moab Khotsong mines.Total gold production in the first quarter ended September jumped to 11,773 kg from 9,040 kg in the comparable quarter last year. The total gold production decreased by 2 percent quarter-on-quarter, the company said."We...Read More
NEW YORK - Gold-backed exchange-traded funds (ETFs) registered increased inflows to both North American and European funds during October, as tumultuous equity markets triggered flight-to-quality buying, the World Gold Council said on Tuesday.North American funds had inflows of $561 million while European funds posted inflows of $678 million last month, according to figures provided by the Council...Read More
Stephen McBride is the editor of RiskHedge Report, a free weekly newsletter that shows how to profit from disruptive trends like self-driving cars, artificial intelligence, cloud computing, and others.Continue...Read More
LONDON - Randgold Resources said on Tuesday it would mediate in a tax dispute between Tanzania and Acacia Mining, a firm in which Randgold investors will have a stake if its planned merger with Barrick Gold is approved by shareholders.Randgold Chief Executive Mark Bristow, who will lead the group after the Barrick tie-up, also told Reuters that Barrick could dispose of its Zambian copper mine afte...Read More
LONDON, Nov 6 (Reuters) - Italian government bond yields rose further on Tuesday after Valdis Dombrovskis, vice president of the European Commission, said the Commission was considering sanction procedure against Italy if it does not revise its budget by Nov 13.Italy's 10-year government bond yield rose to a session high at 3.418 percent, up nine basis points on the day, pushing the Italy/Germany...Read More
(Reuters) - Control of both houses of the U.S. Congress and 36 state governorships are at stake in Tuesday's elections, which are widely viewed as a referendum on Republican President Donald Trump's first two years in the White House.The following is a look at what will influence the outcome:U.S. HOUSE OF REPRESENTATIVESOne in four Americans lives in the 125 congressional districts where no party...Read More
Continue...Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. He presents a weekly show about finance and markets on London's Resonance FM, and writes for The Huffington Post. Keiser invented "Virtual Specialist Technology," a software system used by the Hollywood Stock Exchange. Prior to inventing this technology, he worked on Wall S...Read More
How do you invest in gold and silver mid-tier stocks? Watch as Grant Williams, Senior Advisor at Vulpes Investment Mgmt, discusses with Megan Brown from Leagold Mining Corp. (TSX: LMC), W. John DeCooman from SSR Mining Inc. (TSX: SSRM) and Rob McEwen from McEwen Mining Inc. (TSX: MUX). Grant Williams is the portfolio manager of the Vulpes Precious Metals Fund and strategy advisor to Vulpes Investm...Read More
China's ferrous futures tanked after morning open on Tuesday November 6, with losses narrowed later for contracts except rebar, amid stronger expectations that the country's winter steelmaking restrictions would be lighter than those a year earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,973 yuan ($575) per tonne, down 79 yuan per tonne January hot-rolle...Read More
A gold explorer in Nevada is using a novel technology to find gold. Can water help explorers find gold? That's the path that Nevada Exploration Inc. (NGE:TSX.V) is taking in Nevada.Geophysics (such as airborne surveys) and trench sampling can help track gold in places where there isn't any groundcover, but what about valleys that are covered and offer no exposure to the rock surface? According to...Read More
This activity signals the advancement of this multimillion-ounce project in Nevada. District Map of Terraco's Royalty OwnershipDrilling started at the Spring Valley gold project in Nevada, on which Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK) owns various royalty assets. Waterton Global Resource Management, a private equity firm, is conducting the drilling, currently using two rigs.Spring Valley h...Read More
(Reuters) - CVS Health Corp’s (CVS.N) third-quarter profit beat analysts’ estimates on Tuesday, as it benefited from higher sales of prescription drugs as well as consumer health and beauty products.Quarterly same-store sales at front-end stores rose 0.8 percent in contrast to analysts’ expectation of a 0.8 percent drop despite brick-and-mortar drugstore chains like CVS coming un...Read More
GENEVA/LONDON (Reuters) - Iran said on Tuesday it had so far been able to sell as much oil as it needs despite U.S. pressure, but urged European countries that oppose the U.S. sanctions to do more to shield Iran.The United States on Monday restored sanctions targeting Iran’s oil, banking and transport sectors and threatened more action to stop what Washington called its “outlaw”...Read More
The price of rebar imported into the United Arab Emirates fell in the week to Tuesday November 6, on continuing limited demand.The billet import market was also slow because mills in the UAE have enough billet in stock to last for more than two months, sources told Fastmarkets.Domestic rebarLocal producers were still offering rebar at 2,016 dirhams ($549) per tonne ex-works this week.And Fastmarke...Read More
(Reuters) - Eli Lilly and Co (LLY.N) recorded higher sales of its newer drugs Trulicity and Taltz in the third quarter, helping the diabetes specialist top Wall Street profit estimates and raise its yearly earnings target on Tuesday.Shares of Lilly jumped 4 percent in premarket trading following the news.Lilly is relying on new drugs to drive growth after it took its animal health unit public in S...Read More
LONDON (Reuters) - Euro zone business growth slumped to a two-year low in October as growing trade tensions and tariffs, alongside rising political uncertainty, put a dent in exports and optimism, a survey showed on Tuesday.However, while survey and official figures on Tuesday showed the slowdown is relatively widespread, the clouds over the euro zone are not as dark as recently feared.Any positiv...Read More
Fastmarkets proposes to change the publication time of the CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time each day.The proposed change will allow the capture of a larger number of transactions during the day and therefore will help to increase the liquidity of the index.The deadline for data submissions to the CIS Billet Index will be changed from 1.30pm to 3p...Read More
China's domestic rebar prices kept their downward trend on Tuesday November 6 following the sharp decrease in futures. Domestic Eastern China (Shanghai): 4,590-4,640 yuan ($663-671) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 4,420-4,460 yuan per tonne, down 20-30 yuan per tonneRebar futures dropped sharply in early trading hours on Tuesday after the steelmaking hub of Tangshan r...Read More