|Day's Range||1,272.00 - 1,275.00|
Acacia Mining Plc said on Wednesday it remained out of the discussions between Barrick Gold Corp and the Government of Tanzania on a tax dispute, a day after the Canadian miner bid to take full control of the company. Barrick, which owns a majority stake in Acacia, has been negotiating with Tanzania for the last two years to settle the dispute, a resolution which could allow Acacia to resume its full operations in that country.
Acacia Mining Plc said on Wednesday it continued to be excluded from discussions between Canadian miner Barrick Gold Corp and the Government of Tanzania with regard to a tax dispute. The news announced ...
Investing.com - Gold prices were largely unchanged on Wednesday in Asia as traders remain cautious amid the latest news on the Sino-U.S. trade front.
Investing.com - Oil prices fell on Wednesday in Asia amid comments by Saudi Arabia that said it would “do everything in its power” to prevent further conflict between Iran and the U.S.
Canadian miner Barrick Gold Corp on Tuesday said it proposed to acquire all of the shares it does not already own in Acacia Mining through a share for share exchange of 0.153 Barrick shares for each ordinary share of Acacia. The proposal values Acacia at $787 million and total consideration to the minority shareholders of Acacia of $285 million, Barrick said.
The dollar rose and global equity markets advanced on Tuesday, led by chipmakers and companies exposed to Asia, after the United States temporarily eased trade restrictions on China's Huawei Technologies Co Ltd. Major European and Chinese stock indices rose after the Commerce Department late on Monday allowed Huawei to buy U.S. goods until Aug. 19 to maintain existing telecoms networks and provide software updates to its smartphones. The Trump administration is very sensitive to stock market declines and the Huawei stay of execution may provide short-lived relief, said Kristina Hooper, chief global market strategist at Invesco in New York.
Based on Tuesday’s price action and the current price at $1274.40, the direction of the gold market into the late session close is likely to be determined by trader reaction to the 50% level at $1272.70.
Gold markets continue to try to grind lower, but there is obvious support just underneath. At this point, the market looks very likely to find a lot of support in the $1270 level. That being said though, we have been drifting a bit lower for a while so it’ll be interesting to see how we play out.
The Euro fell slightly during the trading session on Tuesday, as we continue to simply meander around the 1.1150 level. This is essentially “fair value” in the consolidation area, so I’m not necessarily interested in trading quite yet but I do have levels that I am paying attention to.
Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...
Bitcoin SV surged more than 200 percent on some exchanges after Craig Wright filed a copyright registration for the bitcoin white paper.
Precious metal miners led the declines on Canada's main stock index on Tuesday, as gold prices dropped to a more than two-week low. * At 9:37 a.m. ET , the Toronto Stock Exchange's S&P/TSX composite index ...
Investing.com - Oil prices pushed higher on Tuesday on indications that the Organization of Petroleum Exporting Countries and its allies will extend production cuts beyond June, but gains were held in check amid ongoing concerns over the escalating Sino-U.S. trade war.
Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for a Chinese company being blacklisted by the US government. In addition, US warships cruised near disputed islands in the China Sea.
May is definitely an interesting month on the market. It is hard to generally say if this is a month of a USD, or safe heavens or for example Bitcoin.
Global equity markets fell on Monday as a U.S. crackdown on China's Huawei Technologies led chipmaker stocks in Europe and on Wall Street to slide on fears of a widening trade war, while the dollar was steady ahead of fresh insight on the Federal Reserve policies. China accused the United States of harboring "extravagant expectations" for a trade deal, underlining the gulf between the two sides as the U.S. action last week against Huawei began to hit the global tech sector.
Silver markets fell a bit during the trading session on Monday but turned around to show signs of support. The $14.40 level of course is crucial, but only from a short-term timeframe. I think that a bounce from here is probably going to offer a nice selling opportunity on signs of exhaustion, especially just above.
Crude oil markets try to rally a bit during the trading session on Monday, piercing above resistance, but failed to completely break out. At this point it looks like there is still a lot of interest in this market, but there is also a lot of work to do.
The natural gas markets rally during the trading session on Monday, reaching towards the vital $2.70 level. This is an area that features a gap from previous selling, so of course it will be important.
The gold market stabilized a bit during the trading session on Friday, reaching towards the $1275 level Overall. There is a significant amount of support underneath so therefore it’s not a huge surprise to see that we could continue to break down after a couple of negative sessions.
Based on the early price action, the support is a price cluster at $1273.30, $1272.70 and $1272.20. A sustained move over $1273.30 will indicate the presence of buyers. If this move generates enough upside momentum then look for a test of an uptrending Gann angle at $1279.30.
Based on the early trade and the last price at 2839.50, the direction of the June E-mini S&P 500 Index the rest of the session is likely to be determined by trader reaction to the 50% level at 2844.00.
The Greenback may fall in the near term from its top levels soon as US-Sino trade talks head in the wrong direction. The Canadian economy may benefit from the recent US Aluminum-Steel tariff cuts.