CloseGain/LossGold $1291.80-$1.30Silver$16.40+$0.01XAU82.18-1.04%HUI176.94-1.23%GDM620.48-0.10%JSE Gold1007.04-7.73USD94.05-0.18Euro116.98+0.39Yen91.13+0.29Oil$64.75-$1.0610-Year2.943%+0.041T-Bond143.96875-0.84375Dow24813.69+0.72%Nasdaq7606.46+0.69%S&P2746.87+0.45% The Metals: Gold dipped $2.70 to $1290.40 in Asia before it rallied up to $1297.70 in London, but it then drifted back lower i...Read More
Trade wars will prevent gold from a big crash. The European commission has said that it will lodge a complaint against China (in WTO) for patent infringement along with complaints against the US over tariffs. There is also some speculation that the USA will coerce China to prevent it from using the yuan on petro dollar billings. All in all, other than economic factors the rest of the other fac...Read More
Trade wars will prevent gold from a big crash. The European commission has said that it will lodge a complaint against China (in WTO) for patent infringement along with complaints against the US over tariffs. There is also some speculation that the USA will coerce China to prevent it from using the yuan on petro dollar billings. All in all, other than economic factors the rest of the other fac...Read More
OTTAWA (Reuters) - The International Monetary Fund (IMF) said on Monday that while Canada’s economy has performed well, it faces significant risks including trade tensions and a potential hit to competitiveness from lower U.S. corporate taxes.In the preliminary findings of its annual review of the Canadian economy, the IMF said that interest rates should be raised only gradually, even as inf...Read More
WASHINGTON (Reuters) - The White House said on Monday its policy of tough sanctions on North Korea has not changed, days after U.S. President Donald Trump said he no longer wanted to use the phrase “maximum pressure” to describe the campaign to press North Korea to give up its nuclear weapons.After meeting a senior official from Pyongyang at the White House on Friday, Trump said North...Read More
The commodities industry downturn from 2013-2016 had a massive effect on companies in Australia and around the globe - with most mining companies going into survival mode. Since mid-2016 though, the market has been in a strong recovery cycle and, some say, it has now reached its peak. Where we are now is really at an inflection point and, depending on where the global economic cycle moves, commodi...Read More
Ready for inflation?Just days after Treasury Secretary Steven Mnuchin reassured markets that a trade war between the U.S. and China was "on hold," the Trump administration announced that it would be moving forward with plans to impose 25 percent tariffs on as much as $50 billion worth of Chinese exports to the U.S. Beijing has already suggested that it will retaliate in kind.The White House also r...Read More
(Kitco News) - Gold’s reaction to geopolitical risks and heightened trade tensions has been a very timid one, but next week’s “dovish” rate hike by the Federal Reserve could finally help the yellow metal climb above $1,300, said TD Securities.“Should the Fed signal that it intends to stick to its game-plan, allowing inflation to somewhat overshoot its target, we suspe...Read More
Gold finished under moderate pressure today as U.S. equities moved higher. The NASDAQ composite closed at an all-time new record high today as the tech heavy index continued to react to the favorable jobs report on Friday.The U.S. dollar had been trading under pressure today, and although it closed lower at 94.02, it closed well off the intraday low today of 93.63. It has been dollar strength over...Read More
Gold finished under moderate pressure today as U.S. equities moved higher. The NASDAQ composite closed at an all-time new record high today as the tech heavy index continued to react to the favorable jobs report on Friday.The U.S. dollar had been trading under pressure today, and although it closed lower at 94.02, it closed well off the intraday low today of 93.63. It has been dollar strength over...Read More
Doina Chiacu, Caren BohanWASHINGTON (Reuters) - Groups backed by powerful Republican donors Charles and David Koch said on Monday they will champion free trade and oppose tariffs with a multimillion-dollar campaign that puts them on a collision course with President Donald Trump.The embrace of free trade principles by major Republican donors comes as Trump pursues aggressive measures against tradi...Read More
Contrarians continue to wait patiently for when gold-market sentiment will support a strong rally. Very patiently. That's because it's been more than a year since sentiment among gold market-timers was so pessimistic that a contrarian buy signal could even be considered. Since then, the gold-timing community has been quick to turn bullish at any sign of gold market strength and reluctant to turn b...Read More
Despite the fact that top coal producers are receiving the highest profits in six years from their coal mines, Rio Tinto (ASX, LON, NYSE: RIO) continues to work towards accomplishing its mission of completely divesting from its coal assets.In a media brief, the world's No.2 miner announced that it had completed the sale of its 75 percent interest in the Winchester South coal development project in...Read More
Multiple big-cap tech names hit new record highs todayThe Dow stayed red-hot to start the new week, with the blue-chip index gaining triple digits for the second straight session as tech heavyweights broke out. A fresh record high from Apple (AAPL) was in focus, as the FAANG stock enjoyed a boost amid the kickoff of its Worldwide Developer Conference. Fellow Dow component Microsoft (MSFT) also hit...Read More
WASHINGTON (Reuters) - The United States on Monday called on members of the Organization of American States (OAS) to suspend Venezuela from the group and ramp up pressure on President Nicolas Maduro’s government with new sanctions.Maduro won re-election in a May vote that the Venezuelan opposition, along with the United States and other Latin American nations, have decried as a sham cementin...Read More
NEW YORK (Reuters) - The dollar dropped to a two-week low on Monday, as easing political tensions in Italy lifted the euro and global trade concerns resurfaced after China warned the United States against tariffs and other protectionist measures.“With European political drama retreating from the brink, the peak in the dollar index was likely observed at 95,” said Mazen Issa, senior FX...Read More
NEW YORK (Reuters) - The dollar dropped to a two-week low on Monday, as easing political tensions in Italy lifted the euro and global trade concerns resurfaced after China warned the United States against tariffs and other protectionist measures.“With European political drama retreating from the brink, the peak in the dollar index was likely observed at 95,” said Mazen Issa, senior FX...Read More
Last week's other top-gaining mining stocks on the TSX were Tahoe Resources, Liberty Gold, Entree Resources and TMAC Resources.Read full newsRead More
British Prime Minister Theresa May told President Donald Trump on Monday that U.S. tariffs imposed on European Union steel and aluminium imports were "unjustified and deeply disappointing" during a phone call.The leaders spoke for the first time since the announcement in a 30-minute call and agreed to discuss the issue further at the G7 summit in Canada later this week.Trump has infuriated Europea...Read More
Ready for inflation?Just days after Treasury Secretary Steven Mnuchin reassured markets that a trade war between the U.S. and China was "on hold," the Trump administration announced that it would be moving forward with plans to impose 25 percent tariffs on as much as $50 billion worth of Chinese exports to the U.S. Beijing has already suggested that it will retaliate in kind.The White House also r...Read More