* Workers strike at firms including Porsche, MAN* More than 15,000 have taken part in stoppages so far* IG Metall union plans further strikes on Tuesday* Next round of talks with employers start on Thursday* German economy buoyant, record numbers in work (Adds employers' association head, more strike participants)DUESSELDORF/HAMBURG, Jan 8 (Reuters) - Thousands of German workers staged strikes at...Read More
Retailers have been releasing holiday sales data over the past week. While recent results from the likes of Macy's (NYSE:M) and L Brands (NYSE:LB) sent the retail stocks tumbling, Kohl's Corporation (NYSE:KSS) and Lululemon Athletica Inc. (NASDAQ:LULU) are trading higher after the department store chain and yoga apparel maker both reported upbeat numbers for the November-December period. Here's a...Read More
Payment services stock The Western Union Company (NYSE:WU) is rallying today, thanks to an upgrade to "neutral" from "negative" at Susquehanna, along with a price-target hike to $21 from $17. This positive analyst attention is based on reports that WU could be partnering with cryptocurrency concern Ripple Labs to implement blockchain technology into its portfolio. WU shares are up 4% at $21.42 i...Read More
(Kitco News)- Hedgefunds continued to pile into silver and gold in the first few days of the newtrading year, according to the latest trade data from the Commodity FuturesTrading Commission.Analystsnoted that the precious metals market looks attractive to fund managers as theU.S. dollar continued its sharp decline into 2018. Ole Hansen, head ofcommodity strategy at Saxo Bank, said that the U.S. do...Read More
Shares of chemical company Albemarle Corporation (NYSE:ALB) had a huge year in 2017, rising nearly 49%. Of course, this outperformance was nothing new for shareholders, who watched ALB stock surge 53.7% back in 2016. This year is shaping up to be no different, with the equity jumping almost 3% on the first trading day of 2018, and more analysts are starting to take notice.Just this morning, Citigr...Read More
NVIDIA Corporation (NASDAQ:NVDA) stock turned in its best week since July last week, capitalizing on Intel's (INTC) controversial chip issues. Then, at the Consumer Electronics Show (CES) this weekend, NVIDIA announced it ispartnering with Uber, Volkswagen, and Baidu, to provide graphics chips for artificial intelligence (AI) in driverless cars. The big news has NVDA stock up another 2.7% to trade...Read More
Mr. Marc Prefontaine reportsORLA INTERSECTS 102.5 METRES GRADING 0.46 G/T AU AND 1.21% CU AT THE CERRO QUEMA PROJECT, PANAMA Orla Mining Ltd. is providing new results from the 2017 drill program at its wholly owned Cerro Quema project in Panama.Highlights are from the last two holes drilled in the Caballito copper-gold zone.Hole CQDH17-148 intersected 102.5 metres grading 0.46 gram per tonne gold...Read More
Gold & Silver Spot Gold higher again to the next target of 1325/26 as we look for 1330/31 & 1334/35. I am concerned about severely overbought conditions but no sell signal so shorts are out of the question. Watch first support at 1316/15. Below here risks a slide to 1310/09 then a buying opportunity at 1306/04. Stop below 1300. Silver Spot key to direction is resistance at 1718/20 of cours...Read More
After posting their strongest first week in years, U.S. stocks are set to open slightly lower this morning. The Fed will be in focus amid a relatively light economic and earnings docket, with Boston Fed President Eric Rosengren, Atlanta Fed President Raphael Bostic, and San Francisco Fed President John Williams all slated to speak. Traders will be looking for any insight on the potential timeline...Read More
(Kitco News) - Coeur Mining, Inc. (NYSE: CDE) posted record silver-equivalent production in thefourth quarter and full-year 2017, the company announced Monday.The company said fourth-quarteroutput hit a record of 11.7 million silver-equivalent ounces, which was aquarter-on-quarter gain of 23% and year-on-year gain of 17%. This consisted of4.5 million ounces of silver and 119,114 ounces of gold, bo...Read More
• Strong USD recovery prompts profit taking. • Further weighed down by risk-on mood/positive US bond yields. Gold traded with a mild negative bias for the second consecutive session on Monday and retreated further below a 3-1/2 month peak touched last week. The post-NFP US Dollar recovery kept exerting some downward pressure around dollar-denominated...Read More
"From a seasonality perspective, there is hope for the bulls, with New Year's week having a historically bullish seasonality... [but] with [the Santa Claus rally] yet to arrive, the Fed might be labeled as the Grinch that is stealing Santa's thunder... "[T]he levels that are a round 20% above the SPX and SPDR S&P 500 ETF Trust (SPY - 266.86) 2016 closes -- 2,686.60 and $268.23 - have been areas of...Read More
The board of directors of Equinox Gold Corp. (TSXV: EQX,OTC: LWLCF) has approved full-scale construction of the Aurizona Gold Mine inBrazil, with the cost estimated at $146 million, the company says. Early-worksconstruction began in the third quarter, and the company’s timetable calls fora gold pour by late 2018. “This will be a milestone year for Equinox Gold as weadvance Aurizona and...Read More
* GRAPHIC-2017 asset returns: * LME/ShFE arb: (Updates with official midday prices)By Maytaal AngelLONDON, Jan 8 (Reuters) - Copper steadied on Monday as the market consolidated after strong gains in December and as a firmer dollar weighed, while aluminium hit a near two-week low amid growing stockpiles in China.The dollar rose against the euro, making dollar-priced metals costlier for non-U.S. in...Read More
Trading ingold futures is being dominated by moves in the U.S. dollar at the moment, althoughthe yellow metal remains range-bound, says George Gero, managingdirector with RBC Wealth Management. As of 9:10 a.m. EST, Comex February gold was down $2.20 to $1,320.10 anounce. Meanwhile, the March dollar index was up 0.38 point at 92.055. “We still see some profittaking but better open...Read More
(Kitco News) - Gold prices are modestly lower in early U.S. trading Monday. Some profit-taking andchart consolidation are featured, which is not unexpected after recent goodgains that pushed prices to a 3.5-month high last week. February Comex gold waslast down $3.50 an ounce at $1,318.80. March Comex silver was last down $0.13at $17.155 an ounce.Worldstock markets were mixed to firmer in quieter...Read More
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
Gold has had a monsterrally of almost $90 over the last 19 trading days. What looked like a breakdownturned into a great buying opportunity or a short squeeze. On Thursday, goldlooked like it had the final blow-off to the upside on heavy volume, making ahigh at $1,327.30 in the February futures. Since Thursday, gold has tradedslightly lower than the high but has stayed inside a $20 range. Typicall...Read More
Mr. Christian Milau reports EQUINOX GOLD ANNOUNCES FULL-SCALE CONSTRUCTION OF THE AURIZONA GOLD MINEEquinox Gold Corp.'s board of directors has approved the start of full-scale construction at the Aurizona gold mine in Brazil. All dollar amounts shown are in U.S. dollars.Early works construction has been under way at Aurizona since the third quarter of 2017. The project is advancing well and remai...Read More
* Sell dollar theme remains alive in currency markets* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 8 (Reuters) - The euro slipped a third of a percent on Monday as investors took profits after a recent rally though currency markets remained bullish about the outlook for the single currency on the backdrop of a strengthening economic recovery.With foreign exchange markets extend...Read More