ELKO, Nev/MOSCOW (Reuters) - President Donald Trump said Washington would withdraw from a landmark Cold War-era treaty that eliminated nuclear missiles from Europe because Russia was violating the pact, triggering a warning of retaliatory measures from Moscow.The Intermediate-Range Nuclear Forces Treaty, negotiated by then-President Ronald Reagan and Soviet leader Mikhail Gorbachev in 1987, requir...Read More
Doina Chiacu, Kylie MacLellanWASHINGTON/LONDON (Reuters) - Saudi Arabia on Sunday called the killing of journalist Jamal Khashoggi at its Istanbul consulate a “huge and grave mistake,” but sought to shield its powerful crown prince from the widening crisis, saying Mohammed bin Salman had not been aware.The comments from Foreign Minister Adel al-Jubeir were some of the most direct yet f...Read More
Spot gold remains above chart support that starts around $1,220 an ounce, says MKS (Switzerland) S.A. “Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near term,” MKS says. “Supportive price action around $1,210-$1,220 should restrict declines amid current global polit...Read More
How to (carefully!) play a negative sentiment extreme in the options market"...put open interest at the SPY 280 strike was huge, and a break of this level proved devastating for bulls, as selling accelerated under heavy futures selling."...If the SPY remains above 272 and, better yet, 275, time is on the side of the bulls, as short-covering related to put open interest at these strikes and below c...Read More
The metals continue to pick up strength and look like they are getting ready to blast off. The key here is not to be too impatient and force the trade too early. There will be plenty of time to enter, but the key levels right now are $1,220-$1,240.After breaking out to the upside a couple of weeks ago, gold has found new support within its new consolidation range. The action has been bullish and i...Read More
(Kitco News) - Gold prices are modestly down in early U.S. trading Monday, pressured a bit by a return of trader and investor risk appetite to the world marketplace—despite potentially disruptive elements that still loom over the stock and financial markets. December gold futures were last down $3.20 an ounce at $1,225.50. December Comex silver was last down $0.01 at $14.64 an ounce.Global s...Read More
Canada's RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, said Monday the first mobile diamond drill has arrived at site and underground drill crews have started the exploration program at the site.The Toronto-based miner said, set to release third-quarter production results to this...Read More
ROME, Oct 22 (Reuters) - Prime Minister Giuseppe Contedefended on Monday Italy's 2019 budget, which has fallen foul ofthe European Commission, saying the failure of previous effortsto stimulate the economy meant a new approach was needed.In a wide-ranging news conference, Conte said he wantedconstructive dialogue with the Commission over the contestedfiscal package, and predicted that growth would...Read More
* Spot gold hovering near 100-day moving average * Speculators cut net short position in week to Oct. 16 * Palladium hits highest in nearly 9 months (Updates prices, adds comment)By Sumita LayekBENGALURU, Oct 22 (Reuters) - Gold fell on Monday as risingstock markets pointed to improved investor appetite for risk,with a slightly firmer dollar also sapping bullion's appeal. Spot gold was down 0.2 pe...Read More
* Italian yields slide on ratings decision, Rome comments* Euro gives up rally against dollar, holds vs Swiss franc * Chinese stimulus expectation boosts market sentiment * Graphic: World FX rates in 2018 (Adds quotes, details, updates prices)By Tommy WilkesLONDON, Oct 22 (Reuters) - The euro failed to holdearly-session gains on Monday as investors focused on thelikelihood of further political unc...Read More
(Adds details on succession, stake, background)Oct 22 (Reuters) - Glencore Chief Executive IvanGlasenberg has told investors he plans to retire from thecommodities trader and miner in three to five years, Bloombergreported on Monday. Glasenberg has started training three to four people tosucceed him in the job, but did not disclose the shortlist ofcandidates, Bloomberg reported, citing people fami...Read More
Oct 22 (Reuters) - Hindustan Zinc Ltd reported a29.8 percent fall in second-quarter profit on Monday, dented byhigher expenses.Net profit dropped to 18.15 billion rupees ($247.43 million)in the quarter ended Sept. 30, from 25.84 billion rupees a yearearlier, the zinc miner said.Revenue from operations fell 10 percent to 47.77 billionrupees. However, mined metal production in the quarter rose sixpe...Read More
(Updates with closing prices)By Pratima DesaiLONDON, Oct 22 (Reuters) - Copper prices hit one-week highson Monday due to expectations of stronger demand afterauthorities in top consumer China said they would take measuresaimed at bolstering growth and liquidity.Benchmark copper on the London Metal Exchange endedup 0.3 percent at $6,242 a tonne. It earlier touched $6,331.50 atonne, the highest sinc...Read More
Glencore chief executive officer Ivan Glasenberg is said to be planning to retire from the commodities trader and miner in three to five years, and has even begun training a small group of front runners to take over the post.Glasenberg (62), whose strategic brilliance has made Glencore's - and his own - prodigious fortune, is coaching three to four people to succeed him in the job, Bloomberg repo...Read More
Oct 22 (Reuters) - Lonmin Plc on Monday signed a$200 million metal purchase agreement, which will provide theplatinum miner better liquidity as it awaits the closure ofSibanye-Stillwater's takeover of the company.However, the new facilities still do not address"fundamental business challenges facing Lonmin and do not offeran opportunity to avoid the announced retrenchments and shaftclosures,&...Read More
JOHANNESBURG, Oct 22 (Reuters) - South Africa's rand firmedagainst the U.S. dollar in early trade on Monday, as investorsawaited the new finance minister's medium-term budget speech andconsumer price inflation numbers due in the week. * At 0634 GMT, the rand traded at 14.3425 perdollar, 0.4percent firmer than its close on Friday. * Market focus is on Wednesday's budget speech by newfinanceminister...Read More
Published9:21PM ET Sun, 21 Oct 2018Updated6 Hours AgoReuters Gold prices slipped on Monday, pressured by a rallying dollar and the metal's failure to break above a key technical level.Spot gold fell 0.37 percent to $1,2210 per ounce, having hit a 2-1/2-month peak last week at $1,233.26 per ounce.Prices were on track to register their biggest daily percentage decline since Oct. 12.U.S. gold futures...Read More
I see too many bullish gold mining investors and traders who have jumped into the 3x leveraged junior gold miner fund, JNUG.With JNUG, there is no good entrance and exit strategy that doesn't risk excessive losses on the front end or giving back your gains on the back end.JNUG is designed only for short-term trades that last one week or less, and is certainly not for 6-month or longer time fra...Read More
Bob Moriarty ArchivesOct 22, 2018The market has been more than willing to reward exploration companies showing high-grade gold results lately. After releasingincredible resultsfrom aRed Lake Districtdrill program, Great Bear Resources shot from $.58 a share on August 20th to an amazing $3.25 today.I wrote up Westhaven Ventures several times in the last six months starting at $.19 a share. Ilast ta...Read More
CloseGain/LossGold $1222.80-$3.60Silver$14.57-$0.06XAU69.04-1.50%HUI153.48-1.35%GDM553.54-0.98%JSE Gold1165.95-28.97USD96.03+0.31Euro114.69-0.41Yen88.80-0.32Oil$69.36+$0.0810-Year3.197%+0.001T-Bond137.75+0.03125Dow25317.41-0.50%Nasdaq7468.63+0.26%S&P2755.88-0.43% The Metals: Gold saw slight gains in Asia before it drifted down to $1220.50 by midmorning in New York and the...Read More