Price has broken out of its 2-month consolidation zone.The breakout happened on heavy volume.If price reverts back towards $1,200, we expect to see heavy buying once more.Gold now seems to have broken clear of the trading range it has been in since mid-august. We are getting some consolidation at present, but price is managing to remain above the $1,220 level. The $1,220 level was crucial in that...Read More
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.Every American needs to learn how to protect and secure their retirement against the worst stock market crash in history, and this IRA/401KInvestment Guide 2018 is one way the average American can help protect their investments in the event of a crisis.Jim Rickards is the nation's most vocal and intelligen...Read More
The Dow traded in a 330-point range todayU.S. stocks closed lower today, as investors digested the newly released September Fed minutes -- temporarily pushing corporate earnings to the back burner. A majority of Fed officials now support a shift toward a more restrictive monetary policy, though central bankers differ over how long rates should remain high enough to constrain economic growth. In an...Read More
(Kitco News) - Even though the U.S. midterm elections are difficult to predict, TD Securities said the most likely scenario is a divided Congress. But what does that mean for financial and precious metals markets?“Political risk is notoriously difficult for markets to predict. This is in part due to the increasing unreliability of polls to determine election outcomes, as was the case in the...Read More
Mr. Morgan Poliquin reportsAZUCAR CLOSES NEWCREST TOP-UP SUBSCRIPTIONNewcrest Canada Holdings Inc. has exercised its top-up rights pursuant to the May 18, 2018, investor rights agreement with Azucar Minerals Ltd.On the exercise of its top-up rights, Newcrest has acquired an additional 222,834 common shares of Azucar at a price of 55.81 cents per share, for a total of $124,364, thereby maintaining...Read More
LONDON (Reuters) - Britain’s parliament must provide unequivocal approval for any Brexit deal the government reaches with the European Union, or risk creating uncertainty for businesses and citizens, Brexit minister Dominic Raab said.His comments referred to the vote on whatever divorce deal Prime Minister Theresa May is able to reach with the EU in the coming weeks. The vote is likely to be...Read More
NEW YORK (Reuters) - U.S. oil prices tumbled and Brent also fell on Wednesday after crude inventories rose by much more than expected and exports fell, while the dollar added to gains after minutes showed Federal Reserve policymakers generally agreed borrowing costs were set to rise further.A gauge of stocks across the world dipped, tracking Wall Street’s reaction to the Fed minutes, while t...Read More
Caesars stock has struggled in 2018Stocks are trading lower today, pulling back some from yesterday's impressive rally. Meanwhile, casino concern Caesars Entertainment Corporation (NASDAQ:CZR) and biopharma name Axsome Therapeutics Inc (NASDAQ:AXSM) are trading higher, while construction stock Installed Building Products Inc (NYSE:IBP) sinks. Let's look closer to see what's moving shares of CZR, A...Read More
Gold futures settled lower on Wednesday and extended their decline into electronic trading as a benchmark U.S. dollar index climbed to fresh session highs, shortly after the release of minutes from the Federal Reserve's September monetary policy meeting. A key benchmark for the dollar, the ICE U.S. Dollar Index DXY, -0.05% touched an intraday high of 95.543, up 0.5%, as minutes from Federal Open...Read More
Express Scripts excluded Teva's migraine drug from coverage Drugmaker Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is lower today, down 4.7% to trade at $21.24, amid reports that Express Scripts (ESRX) excluded Teva's migraine drug from coverage. In addition to the drop today, TEVA recently flashed a bearish signal, indicating the slide may be far from over.Teva stock, for the second time with...Read More
(Kitco News)- Althoughthere are expectations that investment capital will flow back into the miningsector, companies have to do more to show value, according to some financeexecutives.At a paneldiscussion during the Mine and Money conference in Toronto, Caroline Donally,managing director of private equity firm Denham Capital, said that in the past,companies have done poor job at creating value for...Read More
NEW YORK (Reuters) - U.S. drugmaker Pfizer Inc (PFE.N) plans to reduce its global headcount by around 2 percent through voluntary retirements and layoffs this year and early next year, as it looks to streamline its corporate structure and eliminate some managerial roles and responsibilities.Pfizer has around 90,000 employees worldwide.Pfizer spokeswoman Sally Beatty said the job cuts were “a...Read More
(Kitco News) - Gold prices continued to trade slightly lower on the day after the release of the FOMC meeting minutes from September, which pointed to more rate hikes. The meeting minutes revealed that the third rate hike of the year was unanimous and that there was a general agreement that further rate hikes will be needed in the future.Gold prices slightly edged down following the news but kept...Read More
The S&P 500 could outperform, if recent history is any indicatorThe S&P 500 Index (SPX) last week suffered its worst five-day stretch since March, giving up more than 4% to continue its stretch of selling off after Fed rate hikes. What's more, last week we saw the most 52-week lows since February 2016. However, this could be a bullish signal for the stock market, if recent history is any indicator...Read More
(Kitco News) - Gold prices aremoderately lower in early-afternoon U.S. trading Wednesday, on a normalcorrective pullback from recent solid gains that saw prices hit a 10-week highearlier this week. A big rebound in the U.S. stock market on Tuesday is alsodenting any safe-haven demand for gold and silver markets today. A rally in theU.S. dollar index today also worked against the precious metals ma...Read More
WASHINGTON, (Reuters) - Every Federal Reserve policymaker backed raising interest rates last month in a meeting where they also generally agreed borrowing costs were set to rise further, according to minutes from the meeting released on Wednesday.The hike was the third of this year and the display of unanimity at the Sept. 25-26 meeting could bolster expectations the central bank’s rate-sett...Read More
Oppenheimer expects one penny stock to more than doublePenny stock AzurRx BioPharma Inc (NASDAQ:AZRX) is higher today, after analysts predicted the stock will more than double. Specifically, Oppenheimer initiated coverage of AZRX with an "outperform" rating and a $6 price target -- a premium of 140% to yesterday's close, and in record-high territory. Similarly, the shares of generic drugmaker Akor...Read More
BRUSSELS (Reuters) - Italian Prime Minister Giuseppe Conte said on Wednesday he believed there was no room for changing the Italian draft budget for 2019, which the European Union worries would breach the bloc’s fiscal rules and increase Italy’s debt.“We have prepared (the budget) very carefully. Therefore I think there is no room for change,” Conte told reporters on arrivi...Read More
(Reuters) - A U.S. Treasury Department official has been criminally charged with leaking confidential documents relating to former Trump campaign chairman Paul Manafort, the Russian embassy and others, to a reporter from digital media company BuzzFeed, Manhattan federal prosecutors announced Wednesday.Natalie May Edwards was arrested on Tuesday and charged with unlawfully disclosing suspicious act...Read More
AXP is just above breakeven year-to-dateAmerican Express Company (NYSE:AXP) is trading slightly lower this afternoon, after Oppenheimer lowered its price target on the Dow name to $111 from $113. This bear note is not completely unheard of for AXP, as 10 out of 19 covering firms sport tepid "hold" ratings. What's more, it comes just before the lending company is scheduled to report third-quarter e...Read More