Gold price faced a solid resistance near the $1,229 and $1,230 resistance levels against the US Dollar. The price declined recently below a major bullish trend line with support at $1,227 on the hourly chart, and traded towards the $1,220 support where buyers emerged. Later, the price started an upside correction and moved above the $1,224 level and the 50% Fib retracement level of the last decli...Read More
(Updates prices) * Palladium climbs after declining 3 pct on Friday * Speculators raise net gold short positions in week to Nov.13 * GRAPHIC-2018 asset returns: By Swati VermaNov 26 (Reuters) - Gold firmed on Monday, supported byuncertainty over the future pace of U.S. interest rate hikes andthe outcome of the G20 summit later this week when globalleaders will focus on trade tensions.Spot gold was...Read More
Newmont Mining's (NYSE: NEM) Ahafo mine in western Ghana started producing gold from an open pit in 2006 and now the underground portion of the mine has launched commercial production on schedule and within budget.Starting next year, Subika underground will add an average of between 150,000 and 200,000 ounces of gold production a year over the first five years of an initial mine life of about 10 y...Read More
Newmont Mining's (NYSE: NEM) Ahafo mine in western Ghana started producing gold from an open pit in 2006 and now the underground portion of the mine has launched commercial production on schedule and within budget.Starting next year, Subika underground will add an average of between 150,000 and 200,000 ounces of gold production a year over the first five years of an initial mine life of about 10 y...Read More
Robust global steel output did nothing to stop a rout in iron ore prices on Monday with the seaborne benchmark cratering amid growing fears about an economic slowdown in China and the impact of a trade war between the world's two largest economies.Benchmark prices at the Chinese port of Qingdao of 62% Fe content ore fell 8% on Monday to trade at $64.25 per dry metric tonne, according to data suppl...Read More
* Majority ownership only applies now to diamonds, platinum* Some miners see scope for flexibility* Government to lay out frameworks to various mineralsLONDON - Zimbabwe does not plan to change its ownership rules for diamonds and platinum, its mining minister said on Monday, denting hopes among some miners the country will open up ownership as it announces mineral frameworks in coming weeks.Zimba...Read More
* Majority ownership only applies now to diamonds, platinum* Some miners see scope for flexibility* Government to lay out frameworks to various mineralsLONDON - Zimbabwe does not plan to change its ownership rules for diamonds and platinum, its mining minister said on Monday, denting hopes among some miners the country will open up ownership as it announces mineral frameworks in coming weeks.Zimba...Read More
AXP, JPM, and GS are at the top of the Dow todayThe Dow Jones Industrial Average (DJI) is up triple digits at midday as financial stocks American Express (AXP), JPMorgan Chase (JPM), and Goldman Sachs (GS) surge. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher, as well, with online retail behemoth Amazon (AMZN) getting a boost on strong Black Friday and Cyber Monday sales forecasts....Read More
Toronto, Ontario - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (the "Company" or "Seabridge") announced today that it has closed its previously announced non-brokered private placement of one million common shares of the Company at a price of $14.00 per share for gross proceeds of $14,000,000. No commissions were payable on this transaction. The proceeds from the financing will be used to fund gener...Read More
Toronto, Ontario - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (the "Company" or "Seabridge") announced today that it has closed its previously announced non-brokered private placement of one million common shares of the Company at a price of $14.00 per share for gross proceeds of $14,000,000. No commissions were payable on this transaction. The proceeds from the financing will be used to fund gener...Read More
Pilot study for a major vehicle manufacturerCollaboration with University of Liege that produces concentrates from recovered magnetsMontreal - Geomega Resources Inc. ("G?(C)oM?(C)gA" or the "Corporation") (TSX.V: GMA) is pleased to announce that Innord Inc. ("Innord"), a private subsidiary controlled by G?(C)oM?(C)gA, has entered into a collaboration agreement with University of Liege who is condu...Read More
Pilot study for a major vehicle manufacturerCollaboration with University of Liege that produces concentrates from recovered magnetsMontreal - Geomega Resources Inc. ("G?(C)oM?(C)gA" or the "Corporation") (TSX.V: GMA) is pleased to announce that Innord Inc. ("Innord"), a private subsidiary controlled by G?(C)oM?(C)gA, has entered into a collaboration agreement with University of Liege who is condu...Read More
Evidence of a looming financial crisis may be growing, according to Harry Dent.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and China's recent stock market decline - years before they happened - has issued a new earth-shattering statement:"The Dow is set to embark on a catastrophic plunge...all the way down to 6,000."Harry Dent recently explained: "Nations are...Read More
GM is shuttering three North American plants and cutting its salaried workforceGeneral Motors (NYSE: GM) stock is up this morning, as traders digest the company's production update. The Detroit automaker plans to halt production at three North American assembly plants -- in Ohio, Michigan, and Oshawa, Ontario -- and said it will end operations at two more plants outside of North America by the en...Read More
Thomas Franck| @tomwfranckPublished 14 Hours AgoUpdated4 Hours AgoCNBC.com Drew Angerer | Getty ImagesTraders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell, October 25, 2018 in New York City. Treasury yields rose Monday as calmer equity markets encouraged a shift away from the relative safety of U.S. government debt.The yield on the...Read More
The shares have shed nearly 40% since late SeptemberThe shares of DXC Technology Co (NYSE:DXC) are up 2.9% at $59.65, after Cowen and Company upgraded the IT services stock to "outperform" from "market perform," saying the stock's attractive price combined with strong management creates "significant upside potential" and that it's the "best idea for 2019." But amid DXC's sharp sell-off from its la...Read More
XAU/USD On Monday, Dukascopy Analysts spotted a channel down pattern on the hourly chart of the yellow metal. This pattern represents the rate's expected decline until new year. The decline should occur due to the metal starting a medium term consolidation after the recent gains of almost 30 USD. Note that the pattern still needs to fully confirm itself. Namely, the commodity price has t...Read More
Is a "Blue Wave" building?Something strange is happening in America.Millions of Americans are furious - and this time, they're taking their anger out on Republicans.All across America, 45 Republicans have lost elections during Trump's presidency in places they shouldn't have possibly been able to lose... even in districts where Trump won in a landslide and remains popular.In the last few months al...Read More
MEXICO CITY - Former workers of Mexican miner Grupo Mexico plan to block access to the giant Buenavista copper mine on Dec. 1 to pressure the company and the country's incoming leftist government to give them back their collective labor contracts.The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010, following a federa...Read More
MEXICO CITY - Former workers of Mexican miner Grupo Mexico plan to block access to the giant Buenavista copper mine on Dec. 1 to pressure the company and the country's incoming leftist government to give them back their collective labor contracts.The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010, following a federa...Read More