(Kitco News) - Gold andsilver prices aremodestly up in early U.S. trading Tuesday, supported by some mild safe-haven demandas the U.S. stock indexes have seen heavy selling pressure so far this week. December gold futures were last up $3.60 an ounce at $1,228.90. December Comex silver was last up $0.062 at $14.47 an ounce. Globalstock markets were also mostly lower overnight, following the soli...Read More
LONDON (Reuters) - Bitcoin tumbled as much as 10 percent on Tuesday to below $4,500 BTC=BTSP, bringing the world's best-known cryptocurrency's losses to 30 percent within a week as a selloff in digital currencies intensified across the board.Other cryptocurrencies also skidded sharply, with Ethereum's ether losing 10 percent ETH=BTSP and Ripple's XRP XRP=BTSP down 13 percent in a largely sent...Read More
(Reuters) - CVS Health Corp (CVS.N) said on Tuesday that it expects to close its $69 billion purchase of health insurer Aetna Inc (AET.N) after the Thanksgiving holiday.The pharmacy chain and benefits manager had previously expected the transaction to close by Nov. 22.CVS said in a filing bit.ly/2Kk8PSf it had received approval from 26 of the 28 state departments of insurance and was in the fina...Read More
(Reuters) - Lowe’s Cos Inc said on Tuesday it was looking to shed its retail operations in Mexico and certain non-core U.S. businesses as the country’s second-biggest home improvement chain strives to compete with rivals including Home Depot.Shares of the Mooresville, North Carolina-based company fell 5.3 percent to $86.50 in premarket trading after Lowe’s also reported a smaller...Read More
MELBOURNE (Reuters) - Australia’s unemployment could ease further from the current 6-1/2 year low without putting too much upward pressure on wages, the head of the country’s central bank said on Tuesday.Reserve Bank of Australia (RBA) Governor Philip Lowe noted the jobless rate in the country’s two biggest states - New South Wales and Victoria - was between 4.4 percent and 4.6 p...Read More
BRUSSELS (Reuters) - Greece is likely to beat its fiscal targets, including the primary surplus, for the third year in a row, but needs to continue the reforms it promised as part of the last bailout program, the chairman of euro zone finance ministers said.Speaking at a hearing in the European Parliament’s economic committee, Mario Centeno said the outlook for the Greek economy was positive...Read More
TOKYO (Reuters) - Japan’s Nikkei fell to a three-week low on Tuesday as a drop in Nasdaq shares dragged down Japanese tech names, while Nissan Motor tumbled on news of Chairman Carlos Ghosn’s arrest and dismissal.The Nikkei share average ended 1.1 percent lower to 21,583.12, the lowest closing level since October 31.Nissan Motor Co was the most-traded stock by turnover and tumbled 5.5...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney gave his backing to a Brexit deal struck by British Prime Minister Theresa May, saying the alternative of leaving the European Union with no transition could be akin to the 1970s oil shock.“We have emphasized from the start the importance of having some transition between the current arrangements and the ultimate arrangements,” Ca...Read More
Vancouver-based Canarc Resource (TSX: CCM) just bought the Corral Canyon gold exploration project in northwestern Nevada through the staking of 92 mining claims. The Vancouver-based miner now owns 100% of the project with no underlying royalties.According to Canarc, the 742-hectare project lies along a regionally productive gold trend that includes the past producing high-grade Sleeper gold mine,...Read More
Vancouver-based Canarc Resource (TSX: CCM) just bought the Corral Canyon gold exploration project in northwestern Nevada through the staking of 92 mining claims. The Vancouver-based miner now owns 100% of the project with no underlying royalties.According to Canarc, the 742-hectare project lies along a regionally productive gold trend that includes the past producing high-grade Sleeper gold mine,...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
May's "soft Brexit" deal with the EU could lead to a hard landing for British stocksBy the end of last week, the state of Brexit negotiations was (not unfairly) summed up by one Vox article as "a true and complete omnishambles." While U.K. Prime Minister Theresa May successfully hammered out the terms of a "soft Brexit" with her European Union (EU) counterparts, it came at a great cost for May --...Read More
BOGOTA (Reuters) - Colombia’s main mining industry group said on Monday it was optimistic a new tax bill that includes a cut to corporate taxes will help attract more foreign investment, allowing companies to boost exploration and output in the coming years.The bill, known as the financing law, proposes a gradual reduction in taxes on businesses to 30 percent by 2022 from the current 35 perc...Read More
Bloomberg News/LandovContractors work on a KB Home project. Builders have started 6.4% more homes so far this year than in the same period last year. The numbers: The National Association of Home Builders' monthly confidence index plunged eight points to 60 in November. What happened: The many headwinds that have been dogging the industry finally showed up in this report. Labor is still expens...Read More
Gold is going nowhere but itseems to be in a hurry, or at least traders and investors are impatient. Awatched pot never boils, and gold will make the next move when it's ready andnot one minute before.The most important components of tradingand investing are not the news or opinions of others but the patience for thechart to guide you. All markets leave footprints or a treasure map of what'sgoing...Read More
In 2016, traders bought all beaten-down gold miner stocks without distinction. Industry investors were giving almost every company a chance. Financing came from every which way.2019 will be different: Knowledgeable gold mining industry investors have learned a lot about various junior gold miner companies since 2016.In the next leg of the rally, industry investors will be more selective. Not all c...Read More
* Cash/threes zinc spread jumps to $97/T backwardation * Global aluminium output rises to 5.4 mln T in Oct-IAI* Nickel hits lowest in more than 11 months(Updates with closing prices)By Eric OnstadLONDON, Nov 20 (Reuters) - Copper prices slipped on Tuesdayafter five days of gains, unnerved by a sell-off on sharemarkets and sapped by uncertainty before a meeting of U.S. andChinese leaders.Both coppe...Read More
* Euro falls as risk sentiment sours * Yen, Swiss franc both gain on safe-haven bids * Tech share slide, Fed caution had earlier hobbled dollar * Graphic: World FX rates in 2018 (Adds quotes, details, updates prices)By Tommy WilkesLONDON, Nov 20 (Reuters) - The euro fell from a two-weekhigh on Tuesday as a selloff in world stock markets andnervousness about Italian banks fed through to the currenc...Read More
Great Bear Resources (TSXV: GBR) announced that it completed a series of payments aimed at gaining 100% royalty-free interest in its flagship Dixie gold project.The 9,140-hectare project is located in the Red Lake district in western Ontario, a place that has produced over 30 million ounces of gold. Goldcorp's Red Lake Gold Mine is located in the area.In a media statement, Great Bear explained tha...Read More
Great Bear Resources (TSXV: GBR) announced that it completed a series of payments aimed at gaining 100% royalty-free interest in its flagship Dixie gold project.The 9,140-hectare project is located in the Red Lake district in western Ontario, a place that has produced over 30 million ounces of gold. Goldcorp's Red Lake Gold Mine is located in the area.In a media statement, Great Bear explained tha...Read More