Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
(Kitco News) - Gold demand rallied in the fourthquarter of 2017, but it was not enough to save last year from an annual drop,the World Gold Council (WGC) said in its latest report.Overall demand declined 7% to4,072 metric tons during fiscal year of 2017, down from 4,362 metric tonsreported in 2016, the WGC said in its “Gold Demand Trends Full Year 2017”report.Rising equity markets andc...Read More
Mr. Nav Dhaliwal reportsBONTERRA EXTENDS MULTIPLE ZONES AT GLADIATOR GOLD DEPOSITThe continuing resource development program at Bonterra Resources Inc.'s Gladiator gold deposit has extended the north, footwall and main zones by 200 metres down plunge to the east. High-grade intersections identified in stepout drilling east of the known mineralization demonstrates the potential for further expansio...Read More
BAKU, Feb 6 (Reuters) - Azerbaijan's top gold producer, Anglo Asian Mining , forecast its gold output would be 64,000-70,000 ounces in 2018, up from 59,617 ounces produced last year, the company said on Tuesday.The London-listed firm said it expects its total metal production to rise to 78,000-84,000 gold equivalent ounces (GEO) in 2018, up from 71,461 ounces last year.The company's gold productio...Read More
Risk aversion seems to have put a bid under gold. 10-year treasury yield drops below 2.7 percent. The risk-off tone in the equities is boding well for the safe haven yellow metal. Currently, gold (XAU/USD) is up 0.80 percent at $1347 levels, having hit a high of $1348.10 and low of $1338.70. Asian equities are feeling the heat of the 1000-point drop in the Dow index. Further, the risk aversion i...Read More
Stocks tanked on Monday, Feb. 5, following a selloff last week that led Wall Street to its worst weekly performance in two years on Friday, Feb. 2. The Dow Jones Industrial Average dropped 1,175 points, or 4.6%, in its largest single-day point drop ever. The S&P 500 declined 4.1% . The Nasdaq tumbled 3.8%. The tech-heavy Nasdaq had traded in the green earlier Monday. The Dow dropped by...Read More
Jerome Powell starts his tenure as chairman of the U.S. Federal Reserve this week amid one of the biggest routs for domestic stocks in at least two years and increasing concern that he'll need to act more aggressively than his predecessor to tame inflation pressures in the world's biggest economy. It's likely to be a raucous first week for Powell, a former Fed Governor and Wall Street vete...Read More
In the next downturn (which may have started last week, yee-haw), the world's central banks will face a bit of poetic justice: To keep their previous policy mistakesContinue...Read More
Global stocks extended their slide into a second week Monday, with markets in Japan recording the biggest single-day decline in more than fifteen months and U.S. equity futures looking at another round of opening bell losses as investors dump shares in the face of rising bond yields fed by faster inflation. On Wall Street, the Dow Jones Industrial Average is lookin...Read More
During her last news conference in December, Janet Yellen stood firm on her record stating, "The global economy is doing well. We're in a synchronized expansion. This is the first time in many years that we've seen this."While attempting to lock in her record, Yellen urged, "There's less to lose sleep about now than has been true for quite some time."Well, a lot of people lost sleep these past few...Read More
We hope Mr. Jerome Hayden Powell enjoyed his first day on the job…After the Dow plunged an ominous 666 points Friday - and over 1,000 for the week - the Dow ended today 1,175 points lower.It was down 1,500 at one point.The S&P also plunged 113 crimson points today.The Nasdaq, 273.For these past boozy years investors have "bought the dip" after every substantial sell-off.Today... they did...Read More
It's been a rough ride recently for crypto traders.As of this morning, 49 out the largest 50 cryptocurrencies by market cap were in the red over the past 24 hours, according to Coinmarketcap.com.The No. 1 crypto, bitcoin, has dropped over 60% since its meteoric rise to $19,343 in mid-December.As I write, the coin is sitting at $7,360.Fast action, speculation and the dream of striking it rich spurr...Read More
“It's not real money!”My coach was now yelling over the sound of the wind through my helmet and our bike wheels humming on the road...“Can you buy Dunkin Donuts with Bitcoin? How about a new tire for your bike? If you can't buy stuff with it, it's not real money!”For the last two weeks, our triathlon team has had a spirited debate over Bitcoin and whether it's a fad or here...Read More
We have a stock market bubble.That's what former Fed Chair Alan Greenspan told Bloomberg TV last Wednesday during a second day of what turned out to be the beginning of a jarring market pullback.Jim Paulsen sees the possibility of a 15 percent correction. Goldman Sachs said conditions point to a correction of 10% to 20% in the next few months. After Friday's big drop, I suspect more prognosticator...Read More
Exiting 2016, GORO's most promising deposit, the Switchback, had a strike length of 300m and P&P reserves of 203,500 tonnes.Drilling through 2017 and into January of 2018 has tripled the strike length and greatly increased confidence in the continuity and commercial value of the deposit.The idea that the Switchback may be a larger deposit than GORO's cash cow Arista deposit is now very...Read More
Exiting 2016, GORO's most promising deposit, the Switchback, had a strike length of 300m and P&P reserves of 203,500 tonnes.Drilling through 2017 and into January of 2018 has tripled the strike length and greatly increased confidence in the continuity and commercial value of the deposit.The idea that the Switchback may be a larger deposit than GORO's cash cow Arista deposit is now very...Read More
Lloyds joins U.S. banks in prohibiting purchases with cardsValue of the biggest cryptocurrency drops by as much as $1,990Bloomberg's Ed Robinson reports on crashing Bitcoin prices.Bitcoin tumbled for a fifth day, dropping below $7,000 for the first time since November and leading other digital tokens lower, as a backlash by banks and government regulators against the speculative frenzy that drove...Read More
Gold has rallied strongly off the December bottom.However, gold appears to have stalled, and is now at risk of reversing.There are plenty of favorable fundamental factors surrounding gold right now, but are they enough to overcome the headwinds?The bottom line: the gold bull market that started 2 years ago has only just begun.Source: Pocketsense.com The Gold Bull Market Is Just Getting Started SP...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comFeb 6, 2018The appointment of Jerome Powell as new Fed chair is likely the catalyst that ushers in a multi-decade era of rising inflation and soaring gold stocks.I’ve announced a long term target for GDX of $15,000. That really isn’t very high... given the strong inflation num...Read More
CloseGain/LossGold $1321.70-$14.60Silver$16.60-$0.10XAU82.10-1.17%HUI181.87-2.12%GDM620.26-2.27%JSE Gold1193.12-7.05USD89.71+0.11Euro123.77-0.15Yen91.34-0.03Oil$63.39-$0.7610-Year2.802%+0.071T-Bond145.625-0.0625Dow24912.77+2.33%Nasdaq7115.88+2.13%S&P2695.14+1.74% The Metals: Gold gained $9.70 to $1346.00 in early Asian trade and held most of those gains into London, but it then fell back o...Read More