(Kitco News) - Gold andsilver futures prices have moved to their daily highs inlate-morning price action Tuesday. Some bargain hunting in the cash market andshort covering in the futures market are featured. Augustgold futures werelast up $2.00 an ounce at $1,299.30.By Jim Wyckoff For Kitco NewsFollow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are th...Read More

(Bloomberg) - Canadian crude surged by the most ever after Enbridge Inc. said it won't implement a new procedure to stop shippers from claiming more space than they can use on a key pipeline linking Alberta's oil sands with U.S. refineries.Western Canadian Select jumped as much as $12.20 a barrel to $13.80 below the U.S. benchmark Monday, the narrowest spread since May 16. Canadian crudes have we...Read More

WASHINGTON (Reuters) - U.S. job openings rose to a record high in April, but hiring continued to lag, pointing to a worsening shortage of workers.Job openings, a measure of labor demand, increased to a seasonally adjusted 6.7 million from 6.6 million in March, the Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS.That was the highest level since the g...Read More

(Reuters) - Billionaire industrialist David Koch is retiring from his role at Koch Industries and associated companies due to health reasons, CNBC reported on Tuesday, citing an internal memo.David Koch, along with his brother Charles, owns the second largest private U.S. company, whose operations range from refining and chemicals to ranching and forest products. The brothers are known to spend he...Read More

NEW YORK (Reuters) - The dollar rose on Tuesday, edging toward a six-month high hit last week, as the latest development in a growing trade conflict between the U.S. and its commercial partners prompted selling in emerging market currencies.The Mexican peso MXN= and Canadian dollar CAD= posted the biggest losses against the U.S. dollar as trade war concerns rose. Other emerging market currenci...Read More

SANTIAGO, June 5 (Reuters) - Chilean lithium miner SQM has retained former chairman Julio Ponce as an adviser, according to Chilean state development agency Corfo, despite an agreement to distance himself from the firm to end a long-running royalties dispute.Ponce and his brother Eugenio, a former president of the world's biggest exporter of lithium carbonate, were employed as strategic advisers i...Read More

LISBON (Reuters) - Portugal’s OutSystems, a platform which allows users to build software applications with minimal coding, has raised $360 million from Goldman Sachs and U.S. investment firm KKR, valuing it at more than $1 billion and allowing it to beef up its leading position in this niche market.Goldman and KKR took a minority stake in OutSystems with the financing, which will allow the...Read More

WASHINGTON, June 5 (Reuters) - Republican and Democratic U.S. senators plan to introduce as soon as Tuesday legislation that would force President Donald Trump to obtain Congress' approval before imposing tariffs on national security grounds, a senior senator said on Tuesday.Republican Senator Bob Corker, chairman of the Foreign Relations Committee, said legislation would be introduced on Tuesday...Read More

LONDON (Reuters) - Rupert Murdoch will be allowed to buy Sky providing it follows through with a proposal to sell Sky News to Disney or another third party to allay concerns over the media mogul’s influence.The decision paves the way for Fox to battle rival Comcast to buy the European pay-TV company.Murdoch launched his bid to buy all of Sky in December 2016, but the takeover has been held u...Read More

(Adds details from report)OTTAWA, June 5 (Reuters) - The labor productivity of Canadian businesses dipped in the first quarter as business output decelerated even as hours worked picked up, Statistics Canada reported on Tuesday.Labor productivity fell 0.3 percent in the quarter after rising by an unrevised 0.2 percent in the fourth quarter.Growth of business activity cooled to 0.2 percent from the...Read More

Mylan's new cancer infection drug will be a competitor to AMGN's NeulastaThe Food and Drug Administration (FDA) just approved Fulphila, a cancer infection treatment developed by Mylan N.V. (NASDAQ:MYL) and India-based Biocon (BION). The drug will be launched in the coming weeks. In response, Leerink issued a price-target hike to $53 from $52, while an analystat RBC noted the approval sets the to...Read More

The insurance stock seems overdue for a round of bullish brokerage notes, too Insurance concern Progressive Corp (NYSE:PGR) has been on a tear over the last 12 months, adding more than 45%. More recently, the stock broke to a new record high late last month following a sharp bounce off its 40-day moving average. However, regardless of its technical tenacity, the security remains surrounded by pess...Read More

Recent strength in oil prices and the greenback will likely weigh on the sectorMorgan Stanley chimed in on cruise lines today, saying recent strength in oil prices and the U.S. dollar have created stiff headwinds for the sector. The brokerage firm lowered its earnings-per-share (EPS) forecasts and price targets for several names within the sector, including Carnival Corp (NYSE:CCL) and Royal Carib...Read More

JOHANNESBURG, June 5 (Reuters) - South Africa's Harmony Gold said on Tuesday that it would sell new shares to raise up to 1.26 billion rand ($98.75 million) through an accelerated book-building.The proceeds will be used to used to pay down part of Harmony Gold's outstanding $150 million bridge loan raised for the acquisition of the Moab Khotsong mine.The size of the new share placement represents...Read More

The former CEO will step down as executive chair later this monthCoffee stock Starbucks Corporation (NASDAQ:SBUX) is lower in early trading, after the company's former CEO and co-founder Howard Schultz announced that he will retire from the executive chairman role on June 26 -- the anniversary of taking SBUX public in 1992. As part of his next chapter, Schultz stated that he hopes to take part "in...Read More

(Kitco News)- Gold prices continue to suffer as sentiment in the U.S.service sector improved in May, according to the latest data from the Institutefor Supply Management (ISM).Tuesday, the ISM said its nonmanufacturing index increasedto a reading of 58.6%, up from April's reading of 55.7%. The data beateconomist expectations as consensus forecasts were calling for reading of 57.9%."The majori...Read More

Mr. Rudi Fronk reportsSEABRIDGE GOLD LAUNCHES PROGRAM AT KSM TO GROW IRON CAP RESOURCETwo drilling rigs have been mobilized to Seabridge Gold Inc.'s KSM project and drilling has commenced. Three additional rigs will be added when snow conditions permit. In total, Seabridge is budgeting $19.7-million for about 28,000 metres of drilling and surface work in the 2018 exploration program. The principal...Read More

Mr. Rudi Fronk reportsSEABRIDGE GOLD LAUNCHES PROGRAM AT KSM TO GROW IRON CAP RESOURCETwo drilling rigs have been mobilized to Seabridge Gold Inc.'s KSM project and drilling has commenced. Three additional rigs will be added when snow conditions permit. In total, Seabridge is budgeting $19.7-million for about 28,000 metres of drilling and surface work in the 2018 exploration program. The principal...Read More

(Reuters) - Euro zone business activity slowed again in May, a survey showed on Tuesday, and forward-looking indicators suggest a further loss of momentum in coming months.The pace of growth has slowed from the turn of the year and - possibly of concern to policymakers at the European Central Bank - inflation pressure also eased last month.Still, inflation was 1.9 percent last month, official data...Read More

MEXICO CITY (Reuters) - Mexico responded in kind to U.S. President Donald Trump's metals tariffs by imposing its own duties on American steel on Tuesday, while also targeting politically sensitive agricultural products from pork to bourbon.Mexico's peso tumbled to its weakest level since February 2017, leading losses among major currencies due to the rising trade tensions between the two neighbors...Read More