(Kitco News) - Recent record-high palladium prices won’t necessarilymean increased supply since the bulk of the metal is mined alongside othermetals, meaning limited reaction to its own price picture, says Metals Focus.The consultancy said Tuesday that it looks for globalpalladium production to decline by 2% to 6.7 million ounces next year.There is an old commodity market adage saying tha...Read More
(Kitco News)- Goldprices are holding on to modest gains, following the news that U.S. consumersbought slightly more pre-existing homes in October, according to the latestreport from the National Association of Realtors (NAR).Wednesday,existing home sales increased 1.4% last month to a seasonally adjusted andannualized rate of 5.22 million units, compared to September's annualized rateof 5.15 milli...Read More
One of Barrick Gold Corp.'s most senior executives, who held various high-profile roles at the company from Nevada to Tanzania, has left the company as it prepares to complete its merger with Randgold Resources Ltd.Richard Williams served as Barrick's chief of staff and later chief operating officer. A former commander in Britain's Special Air Service, he was assigned in February to work full-time...Read More
FL's profit, revenue, and comparable sales all beat estimatesThe shares of Foot Locker, Inc. (NYSE:FL) are signaling a strong session, after the retailer reported stronger-than-expected third-quarter adjusted profit of 95 cents per share on $1.86 billion in revenue -- more than analysts were anticipating. FL also said same-store sales surged 2.9% during the three-month period.A round of upbeat ana...Read More
MILAN (Reuters) - Chocolate spread Nutella has long had pride of place on supermarket shelves but faces imminent attack from an Italian rival usually found in the pasta section.Italy’s Barilla, known internationally for its spaghetti and maccheroni packaged in blue boxes, is preparing to launch a chocolate spread next year in a major challenge to the brand that became a global phenomenon in...Read More
WASHINGTON (Reuters) - Nancy Pelosi, working to reclaim the top job in the U.S. House of Representatives, has called for creation of a new leadership post in a move that could make room for younger lawmakers in the upper echelons of the House Democrats.The 78-year-old San Francisco liberal and current House Democratic leader is fighting hard to regain the job of speaker after the Nov. 6 elections...Read More
Shares in struggling South African platinum producer Lonmin (LON:LMI) climbed Wednesday after the South African Competition Tribunal approved the company's takeover by Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL), with conditionsBy late afternoon, Lonmin had climbed 8% to 48.12p, while Sibanye was slightly up in New York at $2.74 as the regulator imposed as condition a moratorium on planned layoffs at...Read More
Mr. Jean Martineau reportsDYNACOR PRODUCES 7,352 OUNCES OF GOLD IN OCTOBER, ITS BEST 2018 MONTHLY RESULTSDynacor Gold Mines Inc. has provided its October gold production results, which were the best monthly gold production results in 2018. In October, the corporation produced 7,352 ounces of gold, an 11-per-cent monthly average increase from the previous nine months. The total amount of ore purcha...Read More
A break of this trendline could mean heightened risk for bullsSchaeffer's own Andrea Kramer stopped by CNBC's Squawk Boxthis morning, where the discussion was focused on the recent stock market sell-off. Andrea called out the key S&P 500 Index (SPX) moving average to watch this week, and explained why a close south of this trendline could mean heightened risk for bulls. She also weighed in on the...Read More
WASHINGTON (Reuters) - New orders for key U.S.-made capital goods were unexpectedly unchanged in October and shipments rebounded modestly, which could temper expectations of an acceleration in business spending on equipment early in the fourth quarter.Sluggish business spending on equipment together with a lackluster housing market could fan concerns about the durability of the economic expansion...Read More
Mizuho thinks EIX shares are now a buyThe deadly wildfires in California have resulted in a sharp pullback in shares of Edison International (NYSE:EIX). More specifically, the selling essentially began back on Nov. 9, when EIX shares fell more than 12%. The next session the stock traded as low as $45.50 after Morgan Stanley estimated huge losses in utility equipment. The shares have recovered some...Read More
FAANG stocks are leading a pre-market bounceFutures on the Dow Jones Industrial Average (DJI) are on the mend today, up nearly 150 points as the tech sector tries to recover ground following the recent sharp sell-off. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are confidently in the black as well, with FAANG stocks powering the rebound. Elsewhere, investors are digesting a round of...Read More
BMO Capital Markets looks for investors to include some gold intheir portfolios during the remainder of 2018. Analysts note that holdings inglobal gold exchange-traded funds, which trade like a stock but track the priceof the commodity, have risen to a three-month high following recent weakness inequity markets. “With macroeconomic risk now being supplemented by concernsover systemic financi...Read More
• On Tuesday, the precious metal faced rejection near a short-term descending trend-line, extending from over three-month tops set in October through highs touched earlier this month. • The corrective slide, however, turned out to be short-lived, with the commodity regaining positive traction on Wednesday and recovering previous session's modest...Read More
Mr. Walter Coles reportsSKEENA INTERSECTS 14.57 G/T AUEQ OVER 31.50 METRES AT ESKAY CREEKSkeena Resources Ltd. has released additional gold-silver drill results for seven holes from the recently completed phase 1 surface drilling program at the Eskay Creek project located in the Golden Triangle of British Columbia. The multifaceted phase 1 program was performed in the historically drill-defined 21...Read More
(Kitco News)- Weaker-than-expected U.S. manufacturing sector data is keeping a bid under gold prices, which hit session highs following the numbers.Thursday, the U.S. Census Bureau said that new durable goods orders fell by $11.5 billion or 4.4% to $248.5 billion, in October, down from up from September's increase of 0.7% and significantly missing expectations. Consensus forecasts were calling f...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Goldmoved little - hanging on to overnight gains -- after Labor Department dataThursday showed that initial weekly U.S. jobless claims rose by 3,000 to aseasonally adjusted 224,000 in the week to Saturday.Consensusexpectations compiled by various news organizations had called for initialclaims to be around 2...Read More
World's largest miner BHP (ASX, NYSE, LON, JSE:BHP) told investors on Wednesday that it has learned from its past mistakes and is now spending its money more wisely.Explaining BHP's fresh strategy to seek growth while maintaining a healthy balance sheet, chief financial officer Peter Beaven said in a briefing the company has learned to assess both risks and returns, actively manage threats and thi...Read More
BRUSSELS (Reuters) - The European Commission said on Wednesday it had adjusted its recommendation for the euro zone as a whole to have a stronger focus on what it said were the key challenges of boosting growth and shoring up public finances.“The recommendation calls for policies that support inclusive and sustainable growth, and improve resilience, rebalancing and convergence within the eur...Read More
TOKYO (Reuters) - Japan must maintain its ultra-loose monetary policy and proceed with gradual hikes in the consumption tax, including a scheduled increase next year, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday.The country’s ageing population also requires labor market reforms such as abolishing the mandatory retirement age and promoting female employme...Read More