PDAC Names Andrew Cheatle New Executive Director
The Prospector’s and Developer’s Association of Canada (PDAC) named Andrew Cheatle, former president and chief executive officer of Unigold Inc. (TSX:UGD), as executive director of the association.
New Italian Political Drama On Horizon: BBH’s Chandler
(Kitco News) – Following the resignation of Italy’s president Giorgio Napolitano on Wednesday, a research note from Brown Brothers Harriman suggests Italian ‘drama’ will most likely follow.
Barclays: Expect Further Losses In Copper Prices
Technical analysts from Barclays say they are expecting to see more losses in copper prices as the base metal is leading the commodity indexes “collapse” Wednesday. Overnight, copper futures on the London Metals Exchange hit its lowest point since 2009, falling to $5,353.25 a tonne; prices are off their session low but are still down almost 5% on the day. “Copper downturn points lower towards targets in the 5210/5280 area next,” the analysts said.
Copper Dives Sharply As Investors React To Weaker World Bank Growth Forecast
(Kitco News) – Despite the holiday shopping reason, U.S. consumers bought fewer products last month, according to the data from the U.S. Census Bureau.
Read moreGold Firms Following Downbeat U.S. Retail Sales Report
Gold prices are moderately higher in early U.S. trading Wednesday, pushing to the daily high in the wake of a downbeat U.S. economic report.
Read moreWeaker Gas Prices Don’t Explain 0.9% Drop in December Retail Sales – Analysts
(Kitco News) – Despite the holiday shopping reason, U.S. consumers bought fewer products last month, according to the data from the U.S. Census Bureau.
Read moreCoeur Mining Keeps The Momentum Going With Wharf Mine Acquisition
(Kitco News) – Coeur Mining, Inc. (NYSE:CDE) ended 2014 with an acquisition and they’re kicking the year off with another.
Profit Taking, Dollar Ambush
Fundamentally, investors are looking for a safe haven not just from weakness in a certain sector or other market but from the uncertainty that a more systemic volatility brings. And that’s what we have… a sense of disorder in the marketplace.
Gold Weakens Late on Profit Taking After Hitting 11-Week High Early On
Gold prices were modestly lower in afternoon U.S. trading Tuesday, on some profit taking from recent gains. However, prices did score an 11-week high in overnight trading. Safe-haven demand amid market jitters related to plunging crude oil prices and …
Read moreBBH: U.S. Dollar Not Over Valued In Trade-Weighted Terms
Although there are some views that the U.S. dollar is overvalued, analysts at Brown Brothers Harriman say there is still room for the currency to move higher, based on the Federal Reserve’s broad trade-weighted dollar index, which is different from the U.S. Dollar Index. They explain that that the Federal Reserve dollar index includes China and Mexico, two of the biggest trading partners with the U.S., and unlike the traditional currency benchmark, the Federal Reserve’s version is not heavily weighted against the euro. The analysts say the Federal Reserve’s index, has risen 12% from its lows in 2011 to the end of 2014, but prices have not broken their long-term downtrend. “It is difficult to consider the dollar strong on a real broad trade-weighted measure at current levels,” they say. “Given the relative closed nature of the U.S. economy the 12% appreciation of the dollar since 2011 is probably worth around 40 [basis points] of tightening, which has been more than offset by other developments, such as asset purchases, lower interest rates, lower oil prices and rising stock market.”