|Day's Range||1,198.60 - 1,208.80|
Merger will create a gold-mining behemoth at a time when prospects for the metal and for miners are improving.
Other metals were mixed on the Comex, with silver futures falling 0.34% to $14.310 a troy ounce. Among other precious metals, platinum futures rose 0.30% to $835.40, while palladium futures increased 0.39% to $1,049.00 an ounce. Copper futures gained 0.16% to $2.862 a pound.
Barrick Gold has agreed to buy Africa-focused rival, Randgold Resources in an all-stock deal. The news has put the spotlight on a couple of gold mining ETFs.
Canada's main stock index rose on Monday as energy shares were boosted by a surge in crude prices after Saudi Arabia and Russia ruled out any immediate increase to oil production. * The energy sector was 2 percent higher as U.S. crude rose 2 percent and Brent crude added 2.4 percent. * Barrick Gold, up 6.7 percent, was the top boost to materials stocks after the company agreed to buy Randgold Resources in an $18.3 billion share deal to create the world's largest gold company by value.
The big shareholder groups in Avino Silver & Gold Mines Ltd (TSE:ASM) have power over the company. Insiders often own a large chunk of younger, smaller, companies while huge companiesRead More...
European stock markets traded in negative territory on Monday as fears of an escalating trade row between the United States and China spread from Asian markets, while oil rallied after OPEC ignored U.S. calls to raise global supply. The benchmark index for euro zone blue chips retreated 0.4 percent, while the pan-European STOXX 600, which also includes stocks in the UK and outside the European Union, was down 0.3 percent. U.S. shares were also expected to open lower, with futures for the S&P 500 and the Nasdaq trading down 0.2 percent and O.4 percent respectively.
Canada's Barrick Gold has agreed to buy Randgold Resources Ltd in a $18.3 billion share deal to create the world's largest gold company by value and output in an industry under investor pressure to put capital to good use. The new Barrick company, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be valued at $24 billion including debt. The deal marks the biggest transaction in years in the gold mining industry, where companies have come under fire from investors for poorly managing capital, forcing them to focus on costs while dampening enthusiasm for acquisitions.
Canada’s Barrick Gold Corp. ( ABX) has agreed to acquire its London-listed rival Randgold Resources Ltd. ( GOLD) in a share-for-share merger. In a statement, Barrick said the two companies will combine to create the world’s leading producer of gold. Under the terms of the deal, Randgold shareholders will receive 6.1280 new Barrick shares in return for each Randgold share.
Investing.com - Gold prices inched up while the dollar also gained on Monday as China cancelled its planned trade talks with the U.S.
When world gold prices go up, fewer baby girls in India survive the first month of life, according to our new research. My colleagues and I suggest that this is linked to gold often being part of bridal dowries in India—so when gold prices go up, the cost of raising girls rises and families tend…
London-listed Randgold Resources and Canada’s Barrick have agreed to merge in a deal worth more than $18bn (£14bn) that the companies say will create the world’s largest gold miner. Randgold currently operates five gold mines in Africa, while Barrick runs mines in the US, Peru, Chile and Argentina. Under the terms of the deal, the combined group will be known as the New Barrick Group.
Based on Friday’s close at $1201.30 and the recent price action, the direction of the December Comex Gold futures contract is likely to be determined by trader reaction to the short-term pivot at $1194.30.
Canada's Barrick Gold Corp. is reportedly near an agreement to buy London-listed Randgold Resources Ltd. in a deal that could be worth as much as $18 billion, according to media reports. The agreement could be announced as soon as Monday, according to a report from Reuters citing a person familiar with the talks.
By John Tilak and Susan Taylor (Reuters) - Canada's Barrick Gold Corp (ABX.TO) is in late-stage talks to acquire Randgold Resources Ltd (RRS.L), which operates mines in Africa, a person familiar with the ...
Canada's Barrick Gold Corp is in late-stage talks to acquire Randgold Resources Ltd, which operates mines in Africa, a person familiar with the matter said on Sunday. Mark Bristow, the chief executive of Randgold, will become CEO of the combined company, one of the sources said. Bloomberg News reported earlier that a deal was imminent, after it was first reported by mining blog IKN.
Canada's Barrick Gold Corp and African miner Randgold Resources Ltd are in advanced stages of negotiations to merge their operations, Bloomberg reported on Sunday, citing sources. A deal about the merger of the two mining companies is imminent, a blog IKN, had earlier reported. Barrick Gold's Andy Lloyd declined to comment.
Based on last week’s price action and the close at .7288, the direction of the AUD/USD this week is likely to be determined by trader reaction to the short-term 50% level at .7284.
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Based on Friday’s price action and the close at 7550.50, the direction of the December E-mini NASDAQ-100 Index is likely to be determined by trader reaction to the 50% level at 7572.00.
Based on Friday’s price action and the close at $70.78, the direction of the November WTI Crude Oil futures contract is likely to be determined by trader reaction to the contract’s Fibonacci level at $70.86.
The S&P 500 initially fell during the week but continues to find support as we bounced back above the 2900 level, forming a bullish looking candle with high-volume by the end of the week.
Silver markets dropped rather drastically during the day on Friday as the US dollar strengthened against the British pound. This was because of the Teresa May statement that there might be a no deal Brexit, and that of course spooked a lot of currency traders. The rising dollar of course work against the value of silver, but then we turned around and bounce just as violently on the opposite direction.
Crude oil markets were all over the place on Friday, based upon a lot of different moving pieces. Not the least of which would have been a searching US dollar.