IDAHO FALLS, Idaho, Nov 12 (Reuters) - The Federal Reserve will likely need to raise rates another two or three times over “the next period of time,” but it is too soon to know if a rate hike will be needed next month, San Francisco Federal Reserve Bank president Mary Daly said Monday.“My modal forecast is for two to three (rate hikes) over the next period of time, with the exact...Read More
Gold remains under pressure, trading near $1,200/oz. Wall Street falls sharply and US Dollar consolidates gains. Gold slide further and reached a fresh daily low at $1,202/oz the lowest level in four weeks. The yellow metal is falling for the seventh-day in-a-row. A week ago was testing the key resistance area seen around $1,235 and now appears to be headed for a test of $1,200, maki...Read More
RNC Minerals Corporation (TSX: RNX) today reported production at the Beta Hunt Mine in western Australia. Beta Hunt produced 13,497 mined gold ounces for the month of October 2018 at an average grade of 9.06 g/t.Year-to-date October 31, 2018 mined gold ounces was 71,957, an increase of 60% versus the prior year period, including 25,355 ounces thus far from the Father's Day Vein and a total of 30,1...Read More
NEW YORK (Reuters) - The U.S. dollar surged on Monday to its highest point in 16 months against a basket of currencies and world stocks fell broadly amid concern about political risks in Europe, while U.S. and European technology shares were hammered.Major U.S. stock indexes dropped more than 1 percent, with the tech-heavy Nasdaq slumping over 2 percent. Indexes were weighed down by a 4.3-percent...Read More
UNITED NATIONS (Reuters) - The United Nations Security Council is set to vote on Wednesday to lift a nearly decade-old arms embargo and targeted sanctions on Eritrea, diplomats said, after the country's rapprochement with Ethiopia and thawing of relations with Djibouti.Diplomats, speaking on condition of anonymity, said the 15-member council completed negotiations on Monday and agreed on a British...Read More
Larry Culp issued a stern warning on GE's debt level earlierLosses for the U.S. stock market are stiff in the second half of the session, with a sharp sell-off for big-cap bank stock Goldman Sachs Group Inc (NYSE:GS) dragging on the Dow. Among other names making notable moves are former Dow component General Electric Company (NYSE:GE) and Nektar Therapeutics (NASDAQ:NKTR). Here's a quick look at w...Read More
SEOUL (Reuters) - A U.S. think tank said on Monday it had identified at least 13 of an estimated 20 undeclared missile operating bases inside North Korea, underscoring the challenge for American negotiators hoping to persuade Pyongyang to give up its nuclear weapons and long-range missiles.In reports released by the Washington, D.C.-based Center for Strategic and International Studies, researcher...Read More
Oil prices are in their worst slump in over 30 years The United States Oil Fund (USO) has been in a freefall amid the collapse of oil prices in recent weeks. After slowly giving back gains throughout the day, December-dated crude futures fell 0.4% to trade at $59.93 per barrel, marking their 11th straight loss -- the longest losing streak in over 30 years. As far as the exchange-traded fund (ETF...Read More
EUR & Gold down, USD & Oil up – EURUSD dove to a 16-month low on broad Dollar strength; Oil prices up, breaking run of 10 down days. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument. Read More
SOFIA (Reuters) - European Central Bank (ECB) will conduct a comprehensive assessment of six Bulgarian banks as part of the Balkan country’s bid to join the European Union’s banking union, Bulgaria’s central bank said on Monday.In July Bulgaria, who joined the EU in 2007, applied to join the banking union, a step toward the Black Sea state’s aim to enter the “waiting...Read More
NEW YORK (Reuters) - U.S. crude prices turned negative, reversing course as U.S. President Donald Trump said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting supply next year, citing softening demand.U.S. benchmark West Texas Intermediate crude CLc1 fell 17 cents a barrel to trade at $60.02 a barrel by 1:24 p.m. EST (1824 GMT). If the contract...Read More
Gold prices on Monday settled lower for a third straight session as a popular gauge of the dollar strengthened to its highest level in more than 17 months, weighing on demand for the precious metal. December gold GCZ8, +0.09% lost $5.10, or 0.4%, to settle at $1,203.50 an ounce, after posting a drop of 2% last week, falling nearly 1.4% on Friday alone. Monday marked the lowest finish for a most-...Read More
PG&E stock is eyeing its worst month since 2001California's "Camp Fire" is already the state's most devastating wildfire on record, and combined with the "Woolsey Fire," has killed more than 30 people and left more than 220 more missing. As such, the shares of California power providers PG&E Corporation (NYSE:PCG) and Edison International (NYSE:EIX) are getting destroyed today, with Morgan Stanley...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting oil supply next year, citing softening demand.“Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” Trump wrote on Twitter, referring to the Organization...Read More
LONDON (Reuters) - Banks, law firms and other advisers stand to earn up to $963 million in fees from Takeda Pharmaceutical’s (4502.T) $62 billion takeover of drugmaker Shire (SHP.L), according to documents for the deal published on Monday.The deal will be the largest-ever overseas acquisition by a Japanese company and will lead to big payments to advisers working on both sides of the transac...Read More
ALK and AAL both just received "buy" recommendationsAlaska Air Group, Inc. (NYSE:ALK) and American Airlines Group Inc (NASDAQ:AAL) are in focus today, after Goldman Sachs initiated coverage on the stocks with "buy" ratings and respective price targets of $81 and $44. The brokerage firm is bullish in general on shares of U.S. airlines, as it sees strong revenue trends and an industry focus on cost...Read More
(Kitco News)- While allcommodities are suffering under the boot heel of a surging U.S. dollar, onejunior explorer CEO sees the potential for gold and silver to shine as thecurrent environment is unsustainable.Thomas Smeenk, CEO of Broadway Gold MiningMonday, theU.S. dollar rose to its highest level in 16 months, while gold fell to aone-month low and is in striking distance of testing psychological...Read More
(Reuters) - The Nasdaq Composite index fell about 2.5 percent on Monday, hit by a slump in Apple Inc (AAPL.O) shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks in general.Apple shares (AAPL.O) fell 4.7 percent to $209.67, their lowest since July 27, after Lumentum Holdings Inc (LITE.O), the main supplier for Face I...Read More
(Reuters) - San Francisco's city attorney on Monday questioned the recent appointment of a new acting Attorney General, saying in a letter to the U.S. Department of Justice that his office may take court action if DOJ does not provide a legal justification.President Donald Trump last week named Matthew Whitaker to replace former Attorney General Jeff Sessions, who was forced out after months of at...Read More
Golden Reign Resources (TSXV: GRR; US-OTC: GRGNF) and Marlin Gold Mining (TSXV: MLN; US-OTC: MLNZF) have merged to form Mako Mining, which will begin trading on the TSX Venture Exchange under the symbol 'MKO' on November 14, 2018. Mako will focus on Golden Reign's San Albino gold deposit in northern Nicaragua and Marlin's producing La Trinidad gold mine in Sinaloa, MexicoUnder the terms of t...Read More