(Kitco News) - Gold prices are trading near steady levels in late-morning action Friday, and have recovered small losses seen overnight and in earlier U.S.-session trading. Short covering in the futures market and some bargain hunting in the cash market heading into the weekend are featured. There are also some geopolitical crosscurrents in play that could be limiting selling interest in the safe-...Read More
Just two hours before the Cambridge House International Mining Investment Conference began in Vancouver on Tuesday, the gold price broke critical support at $1300. After trying repeatedly for three months, the safe-haven currency had been unable to break out above multi-year resistance at $1375. As mentioned last week in this column, surging crude oil on the back of Middle East tensions had been s...Read More
Just twohours before the Cambridge House International Mining Investment Conferencebegan in Vancouver on Tuesday, the gold price broke critical support at $1300. Aftertrying repeatedly for three months, the safe-haven currency had been unable tobreak out above multi-year resistance at $1375. As mentioned last week in this column, surging crude oil onthe back of Middle East tensions had been suppor...Read More
NEW DELHI, May 18 (Reuters) - Vedanta Resources Plc's shutdown of its South Indian copper smelter, one of India's biggest, is causing a copper deficit and increased prices in India.The smelter, located in a sleepy port city near the tip of the Indian peninsula, has a share of about 35 percent in the India's primary copper market and exports mainly to Gulf and Asian countries, Vedanta says.The unit...Read More
NEW DELHI, May 18 (Reuters) - Vedanta Resources Plc's shutdown of its South Indian copper smelter, one of India's biggest, is causing a copper deficit and increased prices in India.The smelter, located in a sleepy port city near the tip of the Indian peninsula, has a share of about 35 percent in the India's primary copper market and exports mainly to Gulf and Asian countries, Vedanta says.The unit...Read More
MAT stock was recently turned away by its 200-day moving averageMattel, Inc. (NASDAQ:MAT) stock is down 0.7% to trade at $15.17 this morning, after the Wall Street Journal reported thatMGA Entertainment (subscription required) offered to merge with the toy company. While Mattel rejected theproposal, Isaac Larian, CEO of MGA, plans to make an offer directly to MAT shareholders, according to the W...Read More
LONDON, May 18 (Reuters) - Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said.Sibanye's 285 million pound ($386 million) all-share bid to create the world's second largest platinum miner faces hurdles including Lonmin's weak cash position, competition authority app...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Recent PYPL options buyers are likely cheering todayShares of PayPal Holdings Inc (NASDAQ:PYPL) are higher this morning, after the company confirmed plans to purchase Square (SQ) rival and Swedish startup iZettle for $2.2 billion. The purchase is expected to increase PayPal's presence inside brick-and-mortar stores in more than 11 new countries, and prompted price-target hikes from Oppenheimer...Read More
Analysts at Cowen and Company like Nvidia's potential in the AI spaceFinancial research firm Cowen and Company initiated coverage on several domestic semiconductor stocks yesterday evening, including Nvidia Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD). Cowen set "outperform" ratings for both NVDA and AMD shares, with respective price targets of $325 and $18, expecting su...Read More
Dr. Morgan Poliquin reportsALMADEX MINERALS LTD. AND AZUCAR MINERALS LTD. ANNOUNCE CLOSING OF ARRANGEMENTAlmadex Minerals Ltd. has closed the previously announced statutory plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) to spin out Old Almadex's early-stage exploration projects, royalty interests and certain other assets, into Almadex Minerals Ltd., effe...Read More
Dr. Morgan Poliquin reportsALMADEX MINERALS LTD. AND AZUCAR MINERALS LTD. ANNOUNCE CLOSING OF ARRANGEMENTAlmadex Minerals Ltd. has closed the previously announced statutory plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) to spin out Old Almadex's early-stage exploration projects, royalty interests and certain other assets, into Almadex Minerals Ltd., effe...Read More
U.S. equity benchmarks are on pace for weekly lossesDow Jones Industrial Average (DJI) futures are cautiously higher, as uncertainty over China trade talks continues to linger. Earlier today, Beijingdenied reports it has offered to trim its U.S. trade surplus by $200 billion. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are lower this morning, and all three indexes need a boost today to...Read More
LONDON (Reuters) - Italy’s 10-year bond yield rose on Friday to its highest since October last year at 2.194 percent IT10YT=RR as unease over the plans of a coalition government taking shape in Rome kept upward pressure on borrowing costs.The common government policy agenda of Italy’s two anti-establishment parties includes the issuance of short-term government bonds to pay companies o...Read More
Canada-listed junior miner Thor Explorations (TSX-V: THX) published Friday first results from metallurgical test work at its Segilola project in Nigeria, poised to become the country's first large-scale gold mine.The testing is part of the definitive feasibility study (DFS) for the project, located about 200km from the capital Lagos, and which is expected to come online in early 2020.The project,...Read More
Canada-listed junior miner Thor Explorations (TSX-V: THX) published Friday first results from metallurgical test work at its Segilola project in Nigeria, poised to become the country's first large-scale gold mine.The testing is part of the definitive feasibility study (DFS) for the project, located about 200km from the capital Lagos, and which is expected to come online in early 2020.The project,...Read More
Steve Scherer, Gavin JonesROME (Reuters) - Italy’s two anti-establishment parties on Friday promised to ramp up spending in a program for a new coalition government, putting them on a collision course with the European Union despite watering down some of their most radical proposals.The “contract” by the League and the 5-Star Movement, the two parties that won the most parliament...Read More
(Kitco Commentary)- I generally receive negativecomments whenever I suggest gold looks heavy or that engaging on the buy side shouldawait a break of certain levels. But to set the record straight, I have noissues with investors holding gold as a percentage of their portfolios. As an investor or trader, youneed to ask yourself, why you are buying gold. Is it for protection, insurance,or Capital gai...Read More
hmad GhaddarLONDON (Reuters) - Brent oil prices rose on Friday and were set for a sixth straight week of gains, boosted by strong demand, looming sanctions on Iran, plummeting Venezuelan production and Nigerian disruptions, as Saudi Arabia moved to assuage supply concerns.Brent crude futures LCOc1 rose by 51 cents to $79.81 a barrel at 1209 GMT. The benchmark broke through $80 for the first time s...Read More
May 18 (Reuters) - Futures for Canada’s main stock index were little changed on Friday as investors awaited inflation and retail sales data.Canada’s annual inflation rate is expected to have remained at 2.3 percent in April while retail sales are likely to have increased by 0.3 percent in March. Both the reports are scheduled to release at 8:30 a.m. ET.The Canadian stock market will be...Read More