|Day's range||1,347.30 - 1,364.40|
PYEONGCHANG, South Korea (AP) — The world's best male Alpine skier, Marcel Hirscher, will compete for his second gold medal of the Pyeongchang Olympics.
Trader reaction to the outside move on Friday is likely to determine the direction of the market on Monday.
The alt coins had positive weeks, as the crypto currency markets have recovered a bit after the massive selling that we had seen previously. This is a good sign, but the question now is “is this a dead cat bounce?”
Gold miners (GDX)(GDXJ) face the problem of compensating for every ounce they take out of the ground. Kinross Gold (KGC) has continued to use a gold price assumption of $1,200 per ounce for reserves and $1,400 per ounce for resources since 2011 to estimate reserves and resources at the end of 2017. Kinross’s reserves were 16% lower, at 25.9 million ounces, at the end of 2017 than in 2016.
Based on the current price action, the key area to watch into the close will be the downtrending Gann angle at 6823.25 and the steep uptrending Gann angle at 6804.00.
Senior gold miners, which are large, established miners with various assets in multiple geographies, usually have lower-risk and highly liquid stocks. While there are variations between different miners, as a group, they usually follow gold prices. Senior miners Barrick Gold (ABX), Newmont Mining (NEM), Goldcorp (GG), and Kinross Gold (KGC) make up a substantial 25.4% of the VanEck Vectors Gold Miners ETF (GDX).
Kinross Gold (KGC) also provided an update on its organic development projects along with the 4Q17 and 2017 results. At Round Mountain Phase W, the stripping and initial construction commenced ahead of schedule in late 2017. Kinross Gold’s management maintained, during its latest earnings call, that the Tasiast Phase One expansion is proceeding on schedule and on budget.
Another week, another spin of the markets. This time, litecoin came out on top with the world's fifth most valuable crypto posting big gains.
Stronger stock prices may be helping to cap gains, but the biggest influence is likely the weaker Euro and a rebound in the U.S. Dollar against a basket of currencies.
Investing.com - Crude oil prices rose on Friday, helped by a weak U.S. dollar and by hopes for further efforts to limit global oil output.
Investing.com - Gold prices were hovering at three-and-a-half week highs on Friday, as concerns over the U.S. deficit took over market sentiment and sent the greenback broadly lower.
The pressure on the Greenback was fueled by a number of factors including concerns that the Trump Administration might pursue a weak dollar strategy in an effort to drive up demand for U.S. goods and services.
On a per-share basis, the Vancouver, British Columbia-based company said it had net income of less than 1 cent. The provider of financing for gold mining companies posted revenue of $15.4 million in the ...
Based on the current price action, the direction of the copper market into the close will be determined by trader reaction to a downtrending Gann angle at $3.2395.
Based on the current price action, the index should be able to maintain its upside bias as long as it remains on the strong side of the Fibonacci level at 6709.75 and the steep uptrending Gann angle at 6676.00.