(Kitco News)- Palladium and rhodium continue to be the two shining startsin the precious metals sector, both seeing surging momentum this week due to agrowing imbalance in their supply and demand fundamentals.Palladium is closing out the week at a new record high;December palladium futures last traded at $1157.90 an ounce, up 5.5% from theprevious week. Meanwhile, rhodium is currently trading at i...Read More
SAN FRANCISCO (Reuters) - Former Oracle Corp product chief Thomas Kurian will replace Diane Greene as head of the cloud division at Alphabet Inc’s Google in the coming weeks, Greene announced in a blog post on Friday, after a tumultuous year for the business.Greene said she had joined Google three years ago with plans to leave after two years and will move into investing and philanthropy in...Read More
Several Apple suppliers offered up weak forecastsIt was a dreary week on Wall Street, with Apple (AAPL) driving most of the price action early on. And while a positive earnings reaction for Cisco Systems (CSCO) and a Buffett-inspired surge for JPMorgan Chase (JPM) on Thursday helped the Dow snap its longest daily losing streak since August, sharp declines in the semiconductor space today have the...Read More
CHEMNITZ, Germany (Reuters) - Chancellor Angela Merkel on Friday urged people to stand up against hatred and reject “lies” about a U.N. migration accord during her first visit to the city of Chemnitz since a spate of far-right violence that tarnished Germany’s image abroad.Germans were shocked by images of skinheads chasing migrants in the eastern city after the fatal stabbing of...Read More
Gold futures ended higher Friday for a third consecutive session to book a weekly advance of more than 1%, with geopolitical turmoil and broader equity market weakness helping to underpin gains. The yellow metal found a haven-related lift from geopolitical worries surrounding Britain's planned exit from the European Union. Read: Here's how Brexit turmoil could become a problems for U.S. and globa...Read More
• A fresh wave of global risk-aversion trade benefits traditional safe-haven assets. • Fresh USD selling pressure provided an additional boost and remains supportive. • Technical buying above $1217 hurdle further accelerates the positive momentum. Gold finally broke out of its European session consolidation phase and surged to f...Read More
NEW YORK (Reuters) - The total debt shouldered by Americans has hit another record high, rising to $13.5 trillion in the last quarter, while an unusual jump in student-loan delinquencies could provide another signal that the U.S. economic expansion is growing old.Flows of student debt into serious delinquency - of 90 or more days - rose to 9.1 percent in the third quarter from 8.6 percent in the p...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday that China wants to make a deal on trade and the United States may not need to impose further tariffs, as the world's two largest economies continue to work on an agreement to eliminate trade tensions.Reporting by Jeff Mason; Writing by Makini Brice; Editing by Chizu Nomiyama Disclaimer: The views expressed in this article are thos...Read More
Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK), a gold royalty company with a portfolio centered on the Spring Valley Gold Project in Nevada, has reported that Waterton Global Resource Management, the project's owner/operator, is drilling on the property. The company first reported the drilling on October 31, and followed up on November 13 with more details.The royalty company noted that Waterton is...Read More
(Kitco News)- Optimism in the gold market ispicking up as prices bounced off critical support to end the week in positiveterritory.However, someanalysts are warning investors to not expect too much excitement in thenear-term as markets will see a shortened trading week as American investorscelebrate Thanksgiving. December gold futures lasttraded at $1,223.10 an ounce, up 1% from the previous week....Read More
TORONTO/LONDON (Reuters) - Barrick Gold (ABX.TO) is interested in buying more copper mines in the Democratic Republic of Congo (DRC), the incoming COO of Africa and the Middle East region said in an investor presentation in London Friday.“Barrick has one of the best competitive advantages in the DRC, should a world class opportunity present itself in the region,” Willem Jacobs said via...Read More
LONDON (Reuters) - European shares wobbled and closed just in the red after a choppy session on Friday as traders waited to see if Britain’s Prime Minister Theresa May would face a no-confidence vote over her draft European Union divorce deal.The pan-European stocks index started morning trading on a gentle rebound from losses on Thursday. But it gradually lost steam as speculation mounted a...Read More
As you read this, the calendar is halfway into November.For some folks, this means heading south to a warm place like Florida. For some, it means breaking out the winter coats and hats.For top resource investors, it means tax loss selling bargain season.It means Christmas comes early...and the presents can lead to hundreds of thousands - even millions - of dollars in extra profit.At the end of th...Read More
OTTAWA (Reuters) - Donald Trump is so unpopular in Canada that Prime Minister Justin Trudeau is using the specter of the U.S. president to attack his conservative rival ahead of a national election set for next year.Trudeau, whose ruling Liberals have a 12-seat majority in the 338-seat parliament, calls Conservative Party leader Andrew Scheer a climate change “ideologue” who stokes &ld...Read More
(Reuters) - Chicago Federal Reserve Bank President Charles Evans on Friday said the U.S. central bank is “in a good place” to continue making adjustments to bring short-term interest rates back up to a neutral setting.With unemployment at 3.7 percent, the U.S. economy projected to grow 3.5 percent this year and a still above-trend 2.5 percent next year, and downside risks to inflation...Read More
BELFAST (Reuters) - At Sandy Row Band Supplies in the heart of Belfast’s pro-British unionist community, it is easy to understand the uncompromising resistance of Prime Minister Theresa May’s Northern Irish allies to her Brexit deal.Here locals who express loyalty to London by lining streets with Britain’s Union Jack flags and painting kerbstones red, white and blue can buy the f...Read More
Have you heard about the Everything Bubble? Some analysts believe that after the dot-com bubble of the 1990s and the housing bubble of the 2000s, we are in the middle of a price bubble in virtually all asset classes simultaneously caused by the Fed's unusually easy monetary policy with ultra low interest rates. Although we agree that the US central bank maintained federal funds rate too low fo...Read More
SQ has still more than doubled in 2018 despite recent strugglesShares of Square Inc (NYSE:SQ) are 2% lower at $72.09 at last check, under pressure after the company's Chief Financial Officer (CFO) Sarah Friar announced she will be leaving today, a few weeks earlier than the expected. Square stock is now down more than 29% from its Oct. 1 record high of $101.14. But if history is any indicator, no...Read More
(Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/A (BREXIT) RECKONINGPrime Minister Theresa May’s long-awaited Brexit deal triggered a wave of ministerial resignations that has rocked her government and financial markets and raised chances of a snap election.The pound took the hardest b...Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More