NEW YORK (Reuters) - Stock markets edged up modestly on Tuesday, with trading thin in the United States, while the dollar and Treasury yields held steady, as Americans went to the polls in a pivotal midterm election that could shift the balance of power in Congress.MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 0.12 percent.The elections mark the first major test of President D...Read More
Caledonia Mining (TSX: CAL; NYSE: CMCL) has agreed to buy back Fremiro Investments' 15% shareholding in the Blanket gold mine in Zimbabwe in a deal valued at $16.6 million. After completing the transaction, Caledonia will own 64% of Blanket.Under the terms of the deal, the two companies will cancel Fremiro's outstanding US$11.46 million Caledonia loan. Caledonia will then issue Fremiro 727,266 s...Read More
(Kitco News) - Gold andsilver prices are moderately lower in early-afternoon U.S. trading Tuesday. Amodest rebound in the U.S. dollar index today, as well as a rally in the U.S.stock market, put some downside pressure on the precious metals markets.Trading was choppy and two-sided as the world marketplace awaits the outcome ofthe U.S. mid-term elections. December gold futures were last down $5.10...Read More
(Kitco News) - Gold is due for a comeback even if the global equities space rallies following a recent correction, according to Wells Fargo, which projects to see the precious metal rise another 7% from current levels.“We suspect that gold could very well continue to rally as we exit 2018 and enter 2019, even if stocks do too. Our rolling 12-month gold target is $1,300—roughly 7% highe...Read More
EL PASO, Texas (Reuters) - In one of the biggest challenges for his party in Tuesday’s elections, Beto O’Rourke hoped to oust Republican Ted Cruz and become the first Democrat elected to the U.S. Senate from the deeply conservative state of Texas in three decades.The 46-year-old former punk rocker and three-term U.S. congressman captured the national spotlight and smashed an 18-year-ol...Read More
SAN FRANCISCO (Reuters) - Facebook Inc blocked about 115 user accounts after U.S. authorities tipped it off to suspicious behavior that may be linked to a foreign entity, the company said in a blog post on Monday, hours before U.S. voters head to the polls.The social network said it needed to do further analysis to decide if the accounts are linked to Russia’s Internet Research Agency or ano...Read More
Groupon has been struggling on the charts for monthsShares of Groupon Inc (NASDAQ:GRPN) are trading slightly higher this afternoon, last seen up 0.9% at $3.30. The coupon concern is expected to report its third-quarter earnings before the market opens tomorrow, Nov. 7. Below, we will take a look at what the options market has priced in for the stock's post-earnings moves, and dive into the shares'...Read More
The outcome of today's US midterm elections will have a significant impact on US politics over the next two years, while it could also have implications for the economy and, in turn, stocks and the dollar, as the ease with which Donald Trump will be able to pass meaningful economic policies in the remaining two years of his first term as President is at stake. By extension, gold, which is pric...Read More
(Kitco News)- Although silver prices have significantly disappointingexpectations this past year, one precious metals specialist said that growingindustrial demand will continue to support the market and eventually attractinvestors.David Holmes, senior vice president at Heraeus, said in apresentation at the London Bullion Market Association’s 2018 precious metalsconference that the silver ma...Read More
LONDON (Reuters) - European shares ended a choppy session in negative territory on Tuesday as investors punished companies like Zalando that missed expectations and remained cautious while waiting for the results of U.S. mid-term elections.The pan-European STOXX 600 and the euro zone's leading index .STOXX50E both dipped 0.3 percent.“Global stocks are in wait and see mode today, with losse...Read More
FRANKFURT (Reuters) - Prosecutors searched the Munich offices of BlackRock (BLK.N) on Tuesday, a person with knowledge of the matter said, as part of the country’s largest post-war fraud investigation.The practice being investigated, known as cum-ex, typically involved trading company shares rapidly around a syndicate of banks, investors and hedge funds to create the impression of numerous o...Read More
LONDON (Reuters) - Britain’s information watchdog has asked Facebook’s lead European regulator to investigate how the company targets, monitors and shows adverts to users, saying it was concerned about some practices at the world’s biggest social network.Britain’s Information Commissioner has been investigating the use of data analytics to influence politics after consultan...Read More
NEW YORK (Reuters) - Oil prices fell on Tuesday, with U.S. crude futures sliding to a seven-month low a day after Washington granted sanction waivers to top buyers of Iranian oil, as Iran said it had so far been able to sell as much oil as it needs to sell.Brent crude LCOc1 futures dropped 96 cents, or 1.3 percent, to $72.21 a barrel, by 11:03 a.m. EST (1603 GMT). The global benchmark hit a sessio...Read More
The stock tends to struggle in the last two months of the yearThe holidays will be here before you know it, and that means retail stocks take center stage. However, GameStop Corp. (NYSE:GME) is one retailer to avoid in the coming months, if history is any guide. Below, we outlined 25 stocks that tend to struggle during the holiday season.According to Schaeffer's Senior Quantitative Analyst Rocky...Read More
Bearish sentiment and recent buybacks could make RH a strong buy in NovemberIt's shaping up to be a great time to go long on home furnishings retailer Restoration Hardware Holdings, Inc (NYSE:RH). While the shares have pulled back in recent months from their highs near $160 from early September, they're bouncing from the site of their 2015 and 2017 highs, hinting at double-barreled support going f...Read More
Oil prices are lower againStocks are modestly higher at midday, with traders keeping a close eye on midterm election updates. The technology sector is seeing some of the biggest gains today, with a sharp push higher for IBM (IBM) helping boost the Dow Jones Industrial Average (DJI) to a triple-digit lead. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are up, as well, as the latter seeks to s...Read More
Gold enjoyed a 2% rally last month amid a pretty volatile October.Speculators hold a very small net long position in Comex gold, CFTC data shows. ETF investors boosted their gold holdings, albeit at a moderate pace, according to FastMarkets.Although October lived up to its reputation for risk assets, investors did not rush into gold.Given the Fed's determination to tighten its policy, investors ar...Read More
(Reuters) - Wells Fargo & Co (WFC.N) said on Tuesday an internal underwriting error had caused it to reject home loan modifications, resulting in the bank foreclosing more homes than expected.The bank said in a filing with regulators that an expanded review found that 870 customers were incorrectly denied mortgage changes, leading to 545 of them losing their homes.This comes after the bank in...Read More
(Kitco News)- The gold market could struggle through the rest of the year asthere is a lack of fundamental reasons to push prices higher, according to oneAustralian Bank.It is difficult to be overly bullish on gold as there is no newcatalyst that could dramatically drive prices higher, Macquarie precious metals analyst MatthewTurner told Kitco News on the sidelines of the London Bullion MarketAsso...Read More
Canadian miners' performance slipped in the three months leading to the end of September, due mostly to weaker gold, nickel, copper and zinc prices, the latest report by consultancy Ernst & Young (EY) reveals.Following a 5% drop between April and June this year, gold prices decreased by another 5% in the third quarter, mainly due to the strong US dollar and the recent Federal Reserve rate hike of...Read More