Who’s To Blame For Market Volatility…Rating Agencies? – Nouriel Roubini
Volatility has dominated the marketplace — with U.S. stock markets opening surprisingly lower Monday on concerns over China’s weak economy — and has made many investors question who is to blame for the uncertainty.
Scorpio Gold Reports Rise In Second-Quarter Earnings; Gold Sales Up But Output Down
Scorpio Gold Corp.’s (TSXV: SGN) mine operating earnings for the second quarter rose to $2.4 million, or a penny per share, up from 1 million, or basically zero per share, in the same period a year ago.
U.S. Pending Home Sales Rise By 0.5% In July
(Kitco News) – The trend in home sales saw only a slight improvement last month consumers started the process of buying homes, according to the latest report from the National Association of Realtors (NAR).
Read moreFreeport McMoRan To Reduce U.S. Mining Workforce By 10% As Part Of Spending Cuts
Freeport-McMoRan Inc. (NYSE: FCX) is cutting operating and capital expenses in response to the declining price of copper, with the moves resulting in a 10% reduction of its U.S.
Read moreGoldcorp To Buy New Gold Share Of El Morro Project, Forms Joint Venture With Teck Resources
(Kitco News) – Goldcorp Inc. (TSX: G, NYSE: GG) has entered into an agreement to purchase New Gold Inc.’s (TSX, NYSE: NGD) 30% interest in the El Morro copper-gold project in Chile, the companies reported Thursday.
Gold Weaker as World Stock Markets Rally
Gold is modestly lower in early U.S. trading Thursday, pressured by gains in most major world stock markets today that have again pulled investor interest away from the safe-haven metal.
Read moreU.S. Jobless Claims Fall To 271K
(Kitco News) – First-time weekly jobless claims in the U.S. fell by 6,000 to a seasonally adjusted 271,000 during the week to Saturday, the Labor Department said Thursday.
U.S. Economy Expands 3.7% In The Second Quarter
(Kitco News) – U.S. Economic growth was stronger than expected in the second quarter, according to preliminary gross domestic product (GDP) report from the Bureau of Economic Analysis.
Read moreSeptember Rate Hike? December? Oh, the Irony! – Triland Metals
One gets the sense that commodity markets are about to collectively turn for the better, says famed newsletter writer Dennis Gartman in his Thursday commentary.
Read moreInvestor Risk Appetite On The Upswing As China Equities Rally.
It’s a “risk-on” trading atmosphere in most of the world market place Thursday, led by a 5% jump in China’s Shanghai stock index overnight. Reports said China’s central bank was intervening heavily to boost stock prices Thursday.
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