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NEW YORK (Reuters) - * The Toronto Stock Exchange's S&P/TSX rose 142.26 points, or 0.91 percent, to 15,838.24. * Leading the index were Toromont Industries Ltd, up 10.0 percent, Sierra Wireless Inc, up 9.7 percent, and Lundin Mining Corp, higher by 7.3 percent. * Lagging shares were MTY Food Group Inc, down 12.5 percent, Cineplex Inc, down 7.4 percent, and New Gold Inc, lower by 6.7 percent. * On the TSX 157 issues rose and 73 fell as a 2.2-to-1 ratio favored advancers. There were 10 new highs and 2 new lows, with total volume of 254.7 million shares. ...
Advisers to Venezuelan opposition leader Juan Guaido are asking Citibank not to claim gold put up as collateral for a loan to the government of President Nicolas Maduro if his administration does not make payments on time, a lawmaker said on Friday. Citi would be entitled to keep the gold if cash-strapped Venezuela does not pay the loan when it expires in March, lawmaker Angel Alvarado said, without specifying the value of the gold in question. Allies of Guaido, who has been recognized by the United States and more than 40 countries across the world as Venezuela's legitimate leader, is asking the bank not to invoke the guarantee.
On Feb. 14, Lundin Mining Corp. (LUNMF) (LUN.TO) reported its fourth-quarter and full-year 2018 results. Warning! GuruFocus has detected 2 Warning Sign with AAPL. Due to the same factors, Lundin Mining recorded for the year a 16.9% decline in total revenue to $1.73 billion, a 47.3% decrease in earnings from continuing operations to $195.9 million and a 47.3% loss in operating cash flow to $476.4 million.
Gold futures finished at a two-week high on Friday to post a modest gain for the week as progress in trade talks between the U.S. and China was seen as bullish for the metal. China is one of the world's biggest buyers of gold. April gold settled at $1,322.10 an ounce, up $8.20, or 0.6% for the session. For the week, prices based on the most-active contract rose 0.3%.
Based on the early price action, the direction of the April Comex gold futures contract the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at $1320.10 and the Fibonacci level at $1317.90. Basically, the early price action suggests the buying could strengthen over $1320.10 and weaken under $1317.90. In between these levels could produce a choppy, two-sided trade.
MUMBAI/BENGALURU (Reuters) - A rally in domestic prices curtailed physical gold demand in India and Japan, with interest in the precious metal lacklustre in other Asian centres as markets gradually return from the Lunar New Year holidays. Retail consumers may, however, resume buying for weddings if prices stay at current levels for a fortnight, Shroff said. Dealers in India were offering a discount of up to $5 an ounce over official domestic prices this week, up from a discount of $1.5 last week.
Gold prices have risen 10% since the end of September 2018, while gold miners have climbed nearly twice that.
The main trend is up according to the daily swing chart. However, momentum shifted to the downside with the formation of a closing price reversal top on Thursday and its confirmation earlier today.
Argo, which is headquartered in London with facilities in Quebec, said it would terminate its Mining-as-a-Service (MaaS) operations by April, focusing solely on direct mining. MaaS operators facilitate cryptocurrency mining on borrowed hardware remotely. Explaining its decision, Argo said the ongoing suppression of Bitcoin (BTC) prices and associated reduced profitability of mining had caused it to slim down its expenses sheet.
With the poor economic numbers from the US, the market is likely to favour a move to the upside and try moving towards the top of the consolidation phase to the 1.15 handle. The pair is now testing support at the 50% Fibonacci scale, and next major support is at the 1.27 level, which is the 61.8% Fibonacci retracement level. The market is likely to remain choppy and with poor economic numbers from the US, AUD is likely to gain a bit of momentum.
Monero’s on the move early, with $48 levels in sight. Breaking through to $50 levels would be unlikely, barring a major crypto-rally.
The collapse of Vale's Brumadinho iron ore tailings dam in Brazil was both shocking and devastating in its impact. It was the 11th serious tailings dam failure in the last decade and such catastrophic events are becoming more frequent, according to researchers at World Mine Tailings Failures (WMTF). Indeed, the number of incidents is going to rise further, according to the U.S. not-for-profit organisation that tracks all recorded tailings storage facility (TSF) failures.
Disappointing macro data and crude oil price undermined Loonie bulls while strength of US Dollar in broad market helped stage solid upside move.
Barrick Gold Corp. (GOLD) fell 4.11% to $12.82 per share on the New York Stock Exchange on Wednesday after the release of disappointing results for the final quarter of 2018 that ended Dec. 31. Before the opening bell the Canadian gold producer reported a 73% year-over-year decrease in non-GAAP earnings to 6 cents per share, a nearly 15% year-over-year decline in revenues to $1.9 billion and a 5.9% decrease in gold production to 1.262 million ounces. Warning! GuruFocus has detected 6 Warning Signs with GOLD.
Silver markets gapped a bit lower to kick off the day on Thursday, rallied a bit to test that gap, and then fell again. We are currently testing the $15.50 level, which of course is significant.
Gold markets fell initially during the trading session on Thursday but has turned around to break back above the 20 day EMA, showing signs of resiliency yet again.
The day will be highlighted by the important releases for the United States. The level of retail sales core retail sales and PPI are expected to be published at 15:30 MT time. According to analysts, headline retail sales and PPI will advance by 0.1%. At the same time, the level of core retail sales will likely stay at the same level.
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