• A modest USD uptick/stability in equity markets prompts some fresh selling. • Dovish Fed expectations/partial US govt. shutdown might limit further downside. Gold struggled to build on the overnight attempted rebound and remained under some selling pressure for the second consecutive session. The precious metal failed to capitalize on the early upti...Read More
Freeport-McMoRan Inc.'s FCX, -13.08% profit fell in the fourth quarter as revenue fell and interest expenses rose. The company reported earnings of $140 million, down from $1.04 billion the comparable quarter a year ago. Earnings were nine cents a share, down from 71 cents a share. Analysts polled by Refinitiv were expecting earnings of 22 cents a share. Adjusted earnings were 11 cents a share, do...Read More
(adds UK reaction)BRUSSELS, Jan 24 (Reuters) - The European Commission said onThursday it was suing Britain over tax exemptions the countrygrants to some commodity markets, waivers that Brusselsconsiders in breach of European Union rules.Under EU rules, countries need EU authorisation not tocharge sales tax on products and services. In 1977, Britainobtained a waiver to charge a zero rate value-add...Read More
Lucara Diamond (TSX:LUC) today stated that it is on track with the works towards a feasibility study for a potential underground operation at its 100%-owned and operated Karowe diamond mine.The Karowe mine is located in northern Botswana and hosted the world's second-largest diamond, which Lucara unearthed in 2016.According to Lucara, the $14.8-million feasibility study that would allow them to ex...Read More
Lucara Diamond (TSX:LUC) today stated that it is on track with the works towards a feasibility study for a potential underground operation at its 100%-owned and operated Karowe diamond mine.The Karowe mine is located in northern Botswana and hosted the world's second-largest diamond, which Lucara unearthed in 2016.According to Lucara, the $14.8-million feasibility study that would allow them to ex...Read More
(Updates with closing prices, adds column)By Peter HobsonLONDON, Jan 24 (Reuters) - Aluminium prices fell on Thursdayfrom the previous session's four-week high as worries over theeffect of a Chinese economic slowdown outweighed signs of tightsupply.On-warrant stocks of aluminium available to the market inLondon Metal Exchange-registered warehouses tumbled to 848,650tonnes from more than a million...Read More
Orinoco Gold (ASX: OGX) announced that it has just started working with AngloGold Ashanti (JSE:ANG) (NYSE:AU) on establishing an in-country joint venture entity in Brazil, an undertaking that should be completed in the first quarter of 2019.The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.The regional exploration joint ven...Read More
Orinoco Gold (ASX: OGX) announced that it has just started working with AngloGold Ashanti (JSE:ANG) (NYSE:AU) on establishing an in-country joint venture entity in Brazil, an undertaking that should be completed in the first quarter of 2019.The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.The regional exploration joint ven...Read More
Orinoco Gold (ASX: OGX) announced that it has just started working with AngloGold Ashanti (JSE:ANG) (NYSE:AU) on establishing an in-country joint venture entity in Brazil, an undertaking that should be completed in the first quarter of 2019.The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.The regional exploration joint ven...Read More
Orinoco Gold (ASX: OGX) announced that it has just started working with AngloGold Ashanti (JSE:ANG) (NYSE:AU) on establishing an in-country joint venture entity in Brazil, an undertaking that should be completed in the first quarter of 2019.The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.The regional exploration joint ven...Read More
Global miner Anglo American (LON: AAL) ended 2018 on a high note, posting strong fourth quarter production results on Thursday despite setbacks at its iron ore operations in both South Africa and Brazil.Output of copper, one of the miner's main commodities, reached a five-year high, with overall output for the last quarter of 2018 rising 7% as a result of operational changes that boosted efficie...Read More
Global miner Anglo American (LON: AAL) ended 2018 on a high note, posting strong fourth quarter production results on Thursday despite setbacks at its iron ore operations in both South Africa and Brazil.Output of copper, one of the miner's main commodities, reached a five-year high, with overall output for the last quarter of 2018 rising 7% as a result of operational changes that boosted efficie...Read More
Gold _ Silver Spot Gold bounces back towards our selling opportunity at 1286/88, with stops above 1290. Next target & resistance at 1294/95. Bulls need a break above 1299.Minor support at 1278/77. Below 1276 is a sell signal targeting 1274 & probably a buying opportunity at 1268/66. Try longs with stops below 1263. Silver bounces back to 1543 but look for a selling opportunity at 1553/55 w...Read More
How you can transform lagging indicators into leading indicators.With the market action of the last few weeks, some traders may feel like they're working blind -- after all, who knows what the Dow will do next? With bulls and bears butting heads in their predictions, many investors are looking for a way to try and predict what's to come, to avoid losing any of their capital to sudden corrections a...Read More
The price of gold dropped six bucks last week. The price of silver fell 26 cents, a greater percentage.The price of gold can sometimes correlate well with the price of stocks.In the short term, the gold-SPX correlation has clearly turned negative (in fact, a negative correlation is generally thought of as "normal").The Monetary Metals Gold Fundamental Price fell $10 to $1,334.The Monetar...Read More
The world's top diamond producer by output, Alrosa (MCX:ALRS) and China's Anjin have been chosen by Zimbabwe's government to partner with the state-owned diamond miner in exploring and digging for precious stones in the country.According to local paper The Herald, the move is part of the Zimbabwe National Diamond Policy, approved in December last year, aimed at reviving the country's diamond indus...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Barrick Gold Corp.'s full-year gold production was 4.53 million ounces for 2018 and full year gold sales of 4.54 million ounces, according to preliminary results announced Jan. 21.Read full newsRead More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose after solid earnings from several bellwethers helped to allay growth worries.International Business Machines Corp. (IBM) jumped 8.46% after the technology giant posted adjusted fourth-quarter earnings that beat estimates and issued an outlook for the year that was higher than forecasts.Procter &a...Read More
Delays began to form at the London Metal Exchange's warrant depository this week after large amounts of warrants were being cancelled, sources told Fastmarkets MB.There were delays of up to five hours at the depository on Tuesday January 22, market sources said. As a result, the LME closed the depository early due to a backlog and stopped accepting further cancellations, a second source said.The L...Read More