Gold futures declined on Friday after a stronger-than-expected October jobs report, prompting prices for the precious metal to end the week with a modest loss. Gold for December delivery GCZ8, -0.16% fell $5.30, or 0.4%, to settle at $1,233.30 an ounce. It ended the week roughly 0.2% lower, according to FactSet data. On Thursday, gold settled at a more than three-month high, up 1.9% as the U.S....Read More
Turkish steel producers continued their deep-sea scrap purchases on Wednesday November 7, with prices remaining largely stable, according to market sources.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $330 per tonne, 3,000 tonnes of shredded at $340 per tonne and 7,000 tonnes of bonus at $345 per tonne cfr.Another steel producer in t...Read More
WASHINGTON (Reuters) - Donald Trump faced greater restraints on his presidency after Democrats won control of the U.S. House of Representatives and pledged to hold the Republican accountable after a tumultuous two years in the White House.Trump and his fellow Republicans expanded their control of the U.S. Senate in Tuesday’s midterm elections, following a divisive campaign marked by fierce c...Read More
WASHINGTON (Reuters) - Now that the Democrats have won control of the U.S. House of Representatives, they need to choose a leader and that means solving one of their toughest puzzles: Nancy Pelosi.A contest among the Democrats for the House’s top job of speaker will play out over the next 10 weeks or so, with the formidable 78-year-old San Francisco liberal at the center.Pelosi has been clea...Read More
Exploration activities at the Pebble Project in Alaska. Source: Northern Dynasty Minerals Ltd.Northern Dynasty Minerals Ltd. [NDM-TSX; NAK-NYSE] shares rallied Wednesday November 7 after the company released a statement saying Alaska voters have elected a pro-development candidate in the U.S. mid-term elections.The inference is that the election of new Governor, Republican Mike Dunleavy, is good n...Read More
Property map of the BTU Metals Dixie Halo Project, Red Lake area, Ontario. Source: BTU Metals Corp.BTU Metals Corp. [BTU-TSXV] shares were active Wednesday November 7 after the company said it has commenced a drone survey over certain areas of the Dixie Halo Project in the Red Lake, Ontario mining district.BTU is attracting investor attention because Dixie Halo adjoins the northern and eastern bou...Read More
(Reuters) - U.S. stock futures pointed to strong opening gains for Wall Street on Wednesday after the midterm elections handed Democrats the House of Representatives and saw Republicans reinforce their control of the Senate in a widely expected outcome.After an initial muted market reaction globally, futures for the three major Wall Street indexes powered higher along with European stocks, while t...Read More
Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
(Updates prices) * Dollar index falls 0.6 pct * Democrats will control House for first time in eight years * Investors await U.S. Fed's two-day policy meeting * Platinum hits more than 4-month high By Swati VermaBENGALURU, Nov 7 (Reuters) - Gold rose on Wednesday as U.S.mid-term elections delivered a split Congress and pressured thedollar, with investors now turning their attention to a FederalRes...Read More
(Kitco News)- IamgoldCorp. (TSX: IMG; NYSE: IAG) late Tuesday reported a loss for the third quarteras revenues came in lower than in the same period a year ago, with bothproduction and gold prices weaker but costs higher.Thecompany listed an adjusted net loss $6.9 million, or a penny per share,compared to adjusted net earnings of $33.7 million, or 7 cents, in the sameperiod of 2017. The net loss w...Read More
WASHINGTON (Reuters) - Democrats rode a wave of dissatisfaction with President Donald Trump to win control of the U.S. House of Representatives on Tuesday, Fox News and NBC News projected, giving Democrats the opportunity to block Trump's agenda and open his administration to intense scrutiny.In midterm elections two years after he won the White House, Trump and his fellow Republicans were set to...Read More
MUNICH - The International Precious Metals & Commodities show will take place this Friday and Saturday in Munich. The conference, which has taken place since 2005, is exclusively dedicated to investments in precious metals and commodities, expecting both institutional and retail investors.Just like the years prior, exciting programs in collaboration with national and international speakers await a...Read More
Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More
TORONTO - Shareholders of Randgold Resources Ltd. have voted in favour of a merger with Barrick Gold Corp.Randgold says just over 95 per cent votes cast were in favour of the deal, representing about 70 per cent of outstanding shares.The proposed combination, announced in September, will add gold mine properties in Mali, Senegal, Ivory Coast and the Democratic Republic of Congo to Barrick's portfo...Read More
With the midterms squarely behind us, will we finally start to see crude prices head higher?The immediate answer from the market is a firm yes, as WTI crude is trading slightly higher this morning.The biggest catalyst for higher oil prices should've been the deadline that just passed a few days ago... at least it was until the politics came into play. After President Trump played it tough with Nor...Read More
(Adds details, quotes, context)MOSCOW, Nov 7 (Reuters) - Polyus, Russia's largestgold producer, on Wednesday reported third-quarter net profitdown 61 percent from a year ago to $144 million due to foreignexchange losses and other non-cash items.The company controlled by Said Kerimov, son of Russiantycoon Suleiman Kerimov, has not been targeted by the U.S.sanctions against Moscow. Washington includ...Read More
(Reuters) - Grocery delivery startup Instacart said on Wednesday it is launching a new service, Instacart Pickup, across the United States, which allows customers to order groceries and choose either delivery or store pickup options.The nation-wide rollout of the pickup service, which follows a pilot project, will be offered through nearly 200 stores spread over several states, which include Atlan...Read More
The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe."Today's action includes the designation of 50 Iranian banks and their foreign and domestic subsidiaries," the US Treasury Department announced in its report on Monday, along with "the identification of more...Read More
WASHINGTON (Reuters) - Citibank (C.N) will pay more than $38 million to the U.S. Securities and Exchange Commission (SEC) for abuse in handling American Depositary Receipts (ADRS), the regulator said in a statement on Wednesday.The SEC found that Citibank falsely provided U.S. securities that represent foreign shares, or ADRs, to brokers in thousands of premature transactions. Those brokers and cu...Read More
CARACAS (Reuters) - Venezuela’s consumer prices rose 833,997 percent in the twelve months through October, according to a report by the opposition-controlled Congress published on Wednesday, the latest sign that policy changes in August failed to halt rampant hyperinflation.Monthly inflation decelerated to 148 percent from 233 percent in September, the data showed, but left the OPEC nation o...Read More