|Day's Range||1,118.40 - 1,127.40|
Based on the current price at $1331.40 (1800 GMT) and the earlier price action, the direction of the gold market the rest of the session is likely to be determined by trader reaction to $1330.20.
Curling originated in the 16th century as a game played by burly Scottish men across frozen lakes, and has for long been dominated by powerhouses like Canada and Sweden. These days, Asian women are increasingly likely to medal in the sport, which involves using brooms and frantic sweeping to steer very heavy stones across a…
Hochschild Mining is to ramp up its hunt for gold as it steps up spending on exploration in three different countries and signals its renewed interest in acquisitions. The FTSE 250 gold and silver miner, based in Peru, will allocate $10m (£7.2m) to “greenfields” development - that is, virgin mine sites - this year, its highest level since 2013. It will pursue four to six “attractive” targets in Peru, Chile and the US. Ignacio Bustamante, chief executive, said the company had “reshuffled its portfolio to make it leaner and more attractive”. “Between 2013 and 2017 we stopped drilling, but that didn’t mean we stopped doing work in greenfield. We dropped projects we didn’t like and added the ones we liked,” he said. The company wants to expand Inmaculada Hochschild is also excited about “brownfields” expansion at its existing mines, particularly Inmaculada in Peru. It will nearly double its spending on brownfields work to $17m. Mr Bustamante said the company had been further bolstered by paying off one-third of the $300m it had outstanding in bonds, and refinancing the rest so it pays a much reduced interest rate. This would help give Hochschild the firepower to pursue mergers and acquisitions, he added, with the company reviewing three to five projects at a time. “The most important part is focusing on forming associations with junior companies that have already developed a resource but do not necessarily have the experience of putting them into production,” Mr Bustamante said, adding that Hochschild would need be the majority owner and operator of any asset it buys. The mining group is 54pc owned by the Hochschild family of Peru, which founded the business in 1911. It beat City forecasts in the year to Dec 31, reporting earnings before interest, tax, depreciation and amortisation of $300m, and raised its final dividend 42pc to 1.97 US cents a share. However shares fell 4.7pc in morning trade to 209p after its pre-tax profits slumped 69pc to $64.1m. The company blamed the drop on the increased investment in exploration, higher costs, and the expiration of some tax breaks in Argentina. Revenue was up 4.7pc to $722.6m during 2017 and its beat its own forecasts to produce a record 513,000 ounces of gold and silver during the year.
On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 1 cent. The gold mining company posted revenue of $20.6 million in the period. For the year, the company reported ...
Investors looking to buy a gold stock should consider Newmont Mining, as it closely correlates to the price of Comex gold futures.
By Nichola Saminather TORONTO (Reuters) - Canada's main stock index closed at a 2-1/2-week high on Wednesday, led by financials and industrials, with all sectors but technology posting gains. The Toronto Stock Exchange's S&P/TSX composite index closed up 84.57 points, or 0.55 percent, higher at 15,524.01, its strongest close since Feb. 2. * Canadian stocks bucked a downward trend in global stocks that were driven lower by a stronger U.S. ...
The SP500 has formed Adam and Adam double bottom pattern. Adam pattern is very similar to a W shaped reversal pattern except for the two related bullish spikes that distinguish the pattern from the W bullish. Point 1 and Point 3 form the basis while point 2 is a continuation point. The POC is formed within 2688-2700 zone and the price could spike from the zone towards 2727 (point 2). A 4h close above 2727 should target 2772 followed by 2808 on a further bullish momentum. Only below W L4 – 2662 the price might turn neutral again.SP500 Adam and Adam Double Bottom Pattern in Progress
Of all the places in the world to hold assets – one of the first, if not the first, to come to mind is Switzerland. Neutral, fairly isolated, rich, discreet, and conservative – it has long been the first choice for anyone wanting to secrete any kind of asset in the vaults beneath the streets of Zürich, Bern, and Basel.
For this, we will analyze the situation on Gold, EURUSD, and USDJPY. If it was all about Gold, the time to end the correction would be right now. XAUUSD is creating a hammer candlestick on the up trendline and the horizontal support on the 1324 USD/oz.
Forex may remain consolidated as investors anticipate the publication of the U.S Federal Reserve’s Meeting Minutes report later.
The Fed minutes, due to be released at 1900 GMT, are likely to exert the most influence on gold prices today. The minutes could have more impact than usual if they provide any insight on inflation and interest rates.
The U.S. Dollar closed higher against a basket of currencies on Tuesday, attempting pull away from three-year lows set last week as traders trimmed some of their bearish bets against the U.S. currency.
Fiore Gold Ltd (TSXV:F), a CA$73.54M small-cap, is a metals and mining operating in an industry which supplies materials for construction. This means it is highly sensitive to changes inRead More...
Based on the early price action, the direction of the crude oil market the rest of the session is likely to be determined by trader reaction to the steep uptrending Gann angle at $61.40.
Investing.com - Natural gas futures were higher on Tuesday, moving further away from their lowest levels in almost two years set last week, as updated weather forecasting models showed a return to colder weather over the eastern U.S. during the first week of March.
Based on the early price action, the direction of the index today is likely to be determined by trader reaction to the downtrending Gann angle at 6791.25.
Ndumiso Madlala, head of the Soweto Gold Brewery, says he is banking on new South African President Cyril Ramaphosa to kick-start the economy and help his business grow. Madlala places much of the blame on the administration of Jacob Zuma, who reluctantly resigned as president last week after a nine-year tenure plagued by corruption allegations and economic stagnation.