Getty ImagesSales at U.S. retailers fell in February for the third month in a row, but the declines were small and unlikely a sign of trouble for the broader economy. The numbers: Sales at U.S. retailers fell in February for the third month in a row - the first time that's happened since 2012 - but the declines were small and unlikely a sign of trouble for the broader economy. The monthly decline...Read More
Shares in Africa-focused Gem Diamonds (LON:GEMD) jumped as much as 6.5% on Wednesday after the miner revealed it had dug up yet another big rock at its flagship Let??eng mine in Lesotho.The 169-carat, top white colour, Type IIa rock is seventh diamond of over 100 carats the company has recovered so far this year at the mine, the world's highest dollar per carat.The finding comes barely a day af...Read More
Shares in Africa-focused Gem Diamonds (LON:GEMD) jumped as much as 6.5% on Wednesday after the miner revealed it had dug up yet another big rock at its flagship Let??eng mine in Lesotho.The 169-carat, top white colour, Type IIa rock is seventh diamond of over 100 carats the company has recovered so far this year at the mine, the world's highest dollar per carat.The finding comes barely a day af...Read More
Kate Hiscox, President of Venzee Technologies Inc. (TSX-V: VENZ) was chosen in BCBusiness as one of Vancouver's most promising fintech stars, using technology in innovative ways. Grouped in with several multi hundred million plus dollar companies, this continues to demonstrate the innovative solution Venzee has brought to the e-commerce business.Matrix: Vancouver's Money MakeoverBy Nathan Cadd...Read More
Dow Jones Industrial Average (DJI) futures are trading above fair value, as stocks try to recover from yesterday's politically driven pullback. Concerns surrounding trade and tariffs could linger today, however, after CNBC reported the White House is considering placing indefinite tariffs on China, on top of other restrictions. Traders are also considering another big round of economic data. Namel...Read More
SACRAMENTO/WASHINGTON (Reuters) - Republican state senators in California gathered in Sacramento late last month for what amounted to an intervention.A leading Washington, D.C. polling firm warned the senators in no uncertain terms that intense Democratic antipathy toward President Donald Trump could spur that party’s voters to turn out in record numbers, jeopardizing safe Republican distric...Read More
(Reuters) - U.S. stock index futures signaled a rebound for Wall Street on Wednesday, a day after the main indexes fell more than half a percent on fears of political and trade uncertainties.By 6:53 a.m. ET, Dow e-minis 1YMc1 were up 84 points. S&P 500 e-minis ESc1 rose 7.5 points and Nasdaq 100 e-minis NQc1 gained 30 points.Singapore-based Broadcom Ltd (AVGO.O) withdrew its $117 billion bid t...Read More
LONDON (Reuters) - Talks on Britain’s withdrawal of the European Union pose the biggest short-term risk to European financial markets, BlackRock’s deputy chief investment officer for fixed income Scott Thiel said on Wednesday.Britain is in the middle of negotiations with the European Union to try to agree the terms of a transition deal to cover the period after it leaves the bloc.&ldqu...Read More
(Kitco News) - Gold prices arenear steady in early U.S. trading Wednesday. The yellow metal is so farignoring a batch of U.S. economic data, including a producer price index reportthat was a bit hotter on inflation than expected. April Comex gold futures werelast up $1.20 an ounce at $1,328.20. May Comex silver was last up $0.023 at $16.650an ounce.Thekey economic data points of the day Wednesday...Read More
(Kitco News)- The gold pricesare modestly higher following weaker than expected retail sales and slightlystronger than expected pipeline inflation pressures.Wednesday, the Labor Department saidits Producer Price Index (PPI) rose 0.2% last month following an increase of0.4% in January. According to consensus forecasts, economists were expecting toan increase of 0.1%.Coreinflation, which strips out...Read More
Editor's Note: Updating earlier story with more details from report and comment from economist.(Kitco News) - Gold futures ticked modestly higher aftera Commerce Department report Wednesday showing that February U.S. retail salesdecreased by 0.1% to $492 billion, when economists had been expecting a riseinstead. This was the third straight monthlydecline in overall retail sales. Meanwhile, sales e...Read More
LONDON (Reuters) - Prudential (PRU.L) is to spin off its British and European business from its international operations, breaking up the 170-year-old insurer to refocus on faster-growing markets in the sector’s latest major shake-up.British insurers have been changing strategy to reduce exposure to capital-intensive products following the introduction of rigorous European solvency rules two...Read More
(Reuters) - Singapore-based Broadcom Ltd withdrew its $117 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.The company said it has also withdrawn its slate of independent director nominees for Qualcomm’s annual shareholder meeting.Broadcom, however, expects to continue with its plan to redomici...Read More
Yesterday we wrote that gold hashad trouble holding a rally and Tuesday proved our point. Although gold ralliedabout $6, the rally was weak and not convincing. If gold was strong, the rallyshould have been stronger, but all it really did was hover around the bottomend of the range.With all of the turmoil and theequities experiencing a turnaround Tuesday, I would have expected a betterrally out of...Read More
ULAANBAATAR (Reuters) - Anti-graft authorities in Mongolia are investigating a 2009 investment pact that kickstarted development at the Oyu Tolgoi copper-gold mine now run by Rio Tinto, which helped open Mongolia to foreign investors.Turquoise Hill Resources, the Rio-controlled unit that owns a 66-percent stake in the mine, said late on Tuesday it had received a request for financial information t...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
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
• Easing USD bearish pressure prompts some fresh selling. • Fading safe-haven demand adds to the downward pressure. Gold surrendered its early gains to $1330 area, or one-week tops, and has now retreated to the lower end of the daily trading range. A combination of factors, ranging from fading Fed rate hike expectations and the latest Whit...Read More
Brio Gold Inc. (TSX: BRIO), which has agreed to be bought by Leagold MiningCorp., reports a net loss of $8.9 million in the fourth quarter that wasnarrower than a $22.1 million loss in the year-ago period. The adjusted losswas $4.6 million, compared to $28.9 million. Gold production in theOctober-December period was 40,350 ounces, down 20% year-on-year. Forfull-year 2017, the net loss was $21...Read More
Brio Gold Inc. (TSX: BRIO), which has agreed to be bought by Leagold Mining Corp., reports a net loss of $8.9 million in the fourth quarter that was narrower than a $22.1 million loss in the year-ago period. The adjusted loss was $4.6 million, compared to $28.9 million. Gold production in the October-December period was 40,350 ounces, down 20% year-on-year. For full-year 2017, the net loss wa...Read More