Recent News

2 Dow Stocks Brushing Off Bearish Brokerage Notes

January 31, 2018 / www.schaeffersresearch.com

The Dow is shaking off its two-day slump on a positive earnings reaction for Boeing (BA). The broad-market tailwinds have shares of iPhone parent Apple Inc. (NASDAQ:AAPL) and industrial conglomerate General Electric Company (NYSE:GE) trading higher, even after both blue chips received bearish brokerage notes. Here's a quick roundup of how shares of AAPL and GE are performing today.Apple Stock Put...Read More

Chinese consumers are willing to buy diamond jewelry next year more often than Americans - research

January 31, 2018 / www.mining.com

ALROSA, the world leader in diamond mining, and GfK research company conducted an extensive research of diamond consumers in the US and China. Among other things, it demonstrates that consumers of both countries are interested in buying diamonds, they are planning to buy them in the future, and that they purchase for themselves much more often than as a gift.Today, the USA is the world's largest c...Read More

Dynacor receives community approval to drill Tumipampa

January 31, 2018 / www.stockwatch.com

Mr. Jean Martineau reportsDYNACOR RECEIVES COMMUNITY APPROVAL TO DRILL TEST TUMIPAMPADynacor Gold Mines Inc. has received community approval to drill test the disseminated zone of its flagship gold project, Tumipampa. Dynacor will now apply for the exploration permit from the Ministry of Energy and Mines. The corporation is preparing a drilling campaign of the high-priority targets immediately aft...Read More

Dynacor receives community approval to drill Tumipampa

January 31, 2018 / www.stockwatch.com

Mr. Jean Martineau reportsDYNACOR RECEIVES COMMUNITY APPROVAL TO DRILL TEST TUMIPAMPADynacor Gold Mines Inc. has received community approval to drill test the disseminated zone of its flagship gold project, Tumipampa. Dynacor will now apply for the exploration permit from the Ministry of Energy and Mines. The corporation is preparing a drilling campaign of the high-priority targets immediately aft...Read More

METALS-Copper climbs on dollar weakness but ends January lower

January 31, 2018 / www.kitco.com

* Nickel leads gains across base metals* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Updates with closing prices)By Jan HarveyLONDON, Jan 31 (Reuters) - Copper rose 1 percent on Wednesday as the dollar slid towards its biggest monthly loss against the euro in two years while markets awaited the release of a U.S. Federal Reserve policy statement.The metal used in construction shrugged off slightly...Read More

Sterling rises, on track for best month vs dollar since 2009

January 31, 2018 / www.kitco.com

* Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote By Jemima Kelly and Tommy WilkesLONDON, Jan 31(Reuters) - Sterling rose against the dollar on Wednesday as the sell-off in the U.S. currency resumed, putting the pound on track for its best monthly performance since May 2009, thanks to dollar weakness and better prospects for a Brexit deal. Broad dollar weakness...Read More

UPDATE 1-Rising mortgage rates squeeze U.S. refinancing activity

January 31, 2018 / www.kitco.com

(Adds details on latest data, graphic)By Richard LeongNEW YORK, Jan 31 (Reuters) - Rising borrowing costs are dampening U.S. refinancing activity, with its weekly share of mortgage applications falling to the lowest level since August, the Mortgage Bankers Association said on Wednesday.The Washington-based group said its index on refinancing applications fell 2.9 percent to 1,288.0 in the week en...Read More

ECB to publish results of Greek banks' test in May

January 31, 2018 / www.kitco.com

FRANKFURT, Jan 31 (Reuters) - The European Central Bank will publish the results of a stress test of Greece's four largest banks in May to allow time for any capital shortfall to be filled before Greece leaves its bailout programme in August."In order to complete the test before the end of the third European Stability Mechanism stability support programme for Greece, the timetable will be acc...Read More

Major mines increasingly tapping Canadian indigenous labour force

January 31, 2018 / www.mining.com

In recent years, two major copper mine proposals in B.C. - New Prosperity and Ajax - have been rejected by government, either largely or partly due to First Nations opposition.What gets less publicity are mines that have been built with the support and co-operation of First Nations - Red Chris and Brucejack being among the most recent examples.At last week's Association for Mineral Exploration (AM...Read More

Dow Recovers Despite Extended Healthcare Slide

January 31, 2018 / www.schaeffersresearch.com

The Dow Jones Industrial Average (DJI) has regained its footing, thanks to a big earnings move from blue chip Boeing (BA). Specifically, the index is up more than triple digits, as BA's gains overshadow continued weakness from healthcare stocks that's limiting upside for the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) -- though the tech sector is booming again. In the meantime, investors are a...Read More

EU to put banks through Brexit mill in toughest stress test yet

January 31, 2018 / www.kitco.com

By Huw JonesLONDON, Jan 31 (Reuters) - European Union banks will face the toughest "stress test" of their ability to withstand theoretical shocks this year, including the impact of Britain's exit from the bloc, the EU's banking watchdog said on Wednesday.While there will be no pass or fail mark for the 48 banks taking part, the outcome will shape capital requirements policed by regulator...Read More

EMERGING MARKETS-LatAm currencies up after Trump's speech; Fed eyed

January 31, 2018 / www.kitco.com

By Bruno FederowskiSAO PAULO, Jan 31 (Reuters) - Latin American currencies strengthened on Wednesday, tracking global U.S. dollar weakness after U.S. President Donald Trump sent a mixed message on bipartisan compromise in his first State of the Union address.Trump called on the U.S. Congress to pass legislation to ensure at least $1.5 trillion in new infrastructure spending, and urged lawmakers to...Read More

CANADA STOCKS-TSX dips, reverses early gains to head for 3d day of losses

January 31, 2018 / www.kitco.com

By Nichola SaminatherTORONTO, Jan 31 (Reuters) - Canada's main stock index fell on Wednesday, surrendering earlier gains, with energy companies among the biggest decliners. The Toronto Stock Exchange's S&P/TSX composite index was down 37.36 points, or 0.2 percent, at 15,918.15 at 1142 EST (1642 GMT). It earlier rose as much as 0.15 percent. (Reporting By Nichola Saminather; Editing by David Gr...Read More

Russian court freezes 38.1 pct of ordinary shares in Vozrozhdenie bank -TASS

January 31, 2018 / www.kitco.com

MOSCOW, Jan 31 (Reuters) - A Russian court has frozen 38.1 percent of the ordinary shares of Vozrozhdenie Bank as part of legal claim by Promsvyazbank, TASS news agency reported on Wednesday, citing court documents.(Reporting by Jack Stubbs; Editing by Susan Fenton) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author ha...Read More

Why is the shale industry still not profitable?

January 31, 2018 / www.mining.com

Echoing the criticism of too much hype surrounding U.S. shale from the Saudi oil minister last week, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing "irrational production."Riyadh-based Al Rajhi Capital dug into the financials of a long list of U.S. shale companies, and found that "despite rising prices...Read More

Metminco submits plan of works for Miraflores gold project

January 31, 2018 / www.proactiveinvestors.co.uk

Ram Venkat, non-executive director at Metminco Ltd (ASX: MNC)(LON:MNC), tells Proactive they've submitted a plan of works to the Colombian Mining Agency for the Miraflores gold project.The plan follows Metminco's announcement last year that it had established a reserve of 457,000 ounces of gold and 385,000 ounces of silver at Miraflores.  Meet Reward Minerals Ltd, Recce Ltd, Rimfire Pacific M...Read More

FOREX-Dollar falls ahead of Fed announcement; euro strengthens

January 31, 2018 / www.kitco.com

* Dollar set for biggest monthly decline since March 2016* Traders await end of Federal Reserve meeting* Euro strengthens after inflation data (New throughout; updates to U.S. market open, changes byline, dateline, previously LONDON)By Stephanie KellyNEW YORK, Jan 31 (Reuters) - The U.S. dollar was lower on Wednesday ahead of a Federal Reserve policy announcement that was widely expected to leave...Read More

Weaker U.S. Dollar Trend Won't Last - Capital Economics

January 31, 2018 / www.kitco.com

(Kitco News)- The gold market can attribute about half of its gainsfrom a weaker U.S. dollar, a trend that might be unsustainable through 2018according to one British research firm.In a report, Wednesday, Simona Gambarini, commoditieseconomist at Capital Economics said that the recent gains in gold could bereversed as the U.S. dollar finds new momentum from rising interest rates.April gold futures...Read More

UPDATE 1-UK appoints first woman as chief economist to finance ministry

January 31, 2018 / www.kitco.com

(Adds detail on appointment)LONDON, Jan 31 (Reuters) - Britain's finance ministry appointed a woman for the first time as its next chief economist at a time when lawmakers want to increase the number of women appointed to senior economic policy roles.Clare Lombardelli is currently in charge of helping finance minister Philip Hammond draw up his annual budget. She joined the finance ministry in 20...Read More

Shares of Argentina's Metrogas up 6.72 pct ahead of natgas rate hike

January 31, 2018 / www.kitco.com

BUENOS AIRES, Jan 31 (Reuters) - Shares of Argentine gas distributor Metrogas rose 6.72 percent on Wednesday on the Buenos Aires stock exchange ahead ofan increase in natural gas rates forecasted by the government.Argentine utility rates have been on the rise since President Mauricio Macri look office in 2015. He was elected on promises of attracting investment in part by lowering home heating and...Read More

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