Biden gives live remarks to supporters and says election is “…not over until every ballot is counted, but we’re feeling good about where we are.” Trump pushes back and said he will be making his own statement.
We are up BIG, but they are trying to STEAL the Election. We will never let them do it. Votes cannot be cast after the Polls are closed!
President Donald Trump has won Florida, AP reports, which makes this already too-close-to-call presidential race even tighter. Latest electoral college count stands at Biden 223 and Trump 174.
November 4, 00:36
Gold is holding steady around the $1,900 an ounce level as markets digest the U.S. election results. Spot gold is trading at 1,899.30, down 0.48% on the day.
November 4, 00:25
Democrat Joe Biden has taken Minnesota and Hawaii, AP reports. President Donald Trump has won Iowa, Montana, and Ohio. Electoral college count stands at Biden 223 and Trump 145.
November 4, 00:10
The precious metals and equities futures markets are favoring a Trump re-election, this according to Peter Hug, global trading director of Kitco Metals.
“What it’s telling me is that the market, both the equity market and the metals markets, from a bullish perspective would prefer Donald Trump as the president and to continue for the next four years, and they are more worried on a Biden presidency, which has created some fear and some selling into the market whenever there is a suggestion that he has a reasonable shot of becoming the next president,” Hug said.
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November 4, 00:05
President Donald Trump has won the state of Utah, according to AP. Biden leads with 213 electoral votes versus Trump’s 118.
November 4, 00:02
Polls have now closed in California, Idaho, Oregon and Washington. Voting is going on in Alaska and Hawaii.
November 3, 23:38
BREAKING: #Gold market is off its session lows but still under pressure as prices reclaim $1,900 an ounce. Gold has been under pressure the U.S. presidential election has been closer than many were expecting | #kitconews | pic.twitter.com/K0LAD4RUes
Joe Biden has seen a jump in the electoral college votes as AP calls western states. Biden is expected to win California, Washington, and Oregon. Biden now leads the electoral college 209 with Trump is at 112. So far there have been no major surprises in this election and there is still a long road ahead.
November 3, 23:15
Odds are building that Trump can pull off a second victory. However, some analysts note that there is still a path for Biden as he looks to take Arizona. Some of the states to watch will be Nevada, Michigan Wisconsin, Ohio and of course Pennsylvania. Basically, it is still anyone’s race.
November 3, 22:51
Fox News calls Arizona for Joe Biden, which narrows the path for President Trump.
November 3, 22:41
Fox News calls Florida for Donald Trump. California, Oregon and Washtington state all called for Joe Biden.
November 3, 22:49
The Electoral College count between Trump and Biden has narrowed. According to AP, Trump now has 108 votes while Biden maintains his lead with 131. Again the magic number to reach is 270.
November 3, 22:47
Not only is surging momentum in the U.S. dollar hurting gold but equity markets have been off to the races as odds now favor a Trump victory. Trading in Nasdaq futures was halted for two minutes after the index rallied 3.9%. Gold prices remain under pressure with December futures last traded at $1,896.60 an ounce, down 0.72% on the day.
November 3, 22:40
The U.S. dollar is currently spiking versus the Chinese Yuan. As the U.S. election looks right now, traders believe it is bad for China.
November 3, 22:38
Stock futures jump in volatile trading Tuesday evening. Nasdaq 100 futures are up more than 3%, the S&P 500 is up 1.6%, and the Dow Jones Industrial Average is up 0.6%. Gold is still trading below $1,900 an ounce but off its daily lows. Spot gold was last at $1,894.70, down 0.76% on the day.
November 3, 22:26
AP is projecting Sarah McBride will win in Delaware. She will become the first openly transgender state senator in the United States.
November 3, 22:17
AP is declaring Trump the winner in Kansas.
November 3, 22:16
In another closely watched Senate race, AP projects that Lindsey Graham keeps his Senate seat in South Carolina Senate, defeating challenger Jaime Harrison.
November 3, 22:00
Fox News reports that Democrats are expected to retain control of the House.
November 3, 21:59
According to some analysts, the U.S. dollar is rising sharply as odds start to shift that President Donald Trump will win a second term. New momentum in the dollar is creating some strong selling pressure in gold and silver. According to some analysts, Trump’s odds of winning the election have jumped to 65%.
BREAKING: #Gold and #silver plunge as more U.S. election results come in. Gold is trading at $1,886.00 an ounce, down 1.19% on the day and silver is at $23.30, down 3.78% on the day #kitconewspic.twitter.com/JrTuyBtSzm
Precious metals plunge as more results start to come in, with spot gold last trading at $1,886.00 an ounce, down 1.19% on the day, and spot silver at $23.30, down 3.78% on the day.
November 3, 21:54
Democrat Joe Biden has won the District of Columbia and the state of Colorado, maintaining his lead against Trump. Biden is currently ahead with 131 electoral votes versus Trump’s 92.
November 3, 21:41
While we wait for more U.S. election results to roll in, don’t forget to download Kitco Gold Live! app to stay on top of the latest market price action.
November 3, 21:30
Some tips on how to get the most out of Kitco’s LIVE UPDATES: Don’t forget to refresh the page and here’s how to make the LIVE gold price chart bigger.
November 3, 21:25
Here’s some behind-the-scenes photos as we prep for late-night interviews to talk U.S. election results and gold. Stay tuned!
President Donald Trump has won Arkansas, Indiana, Louisiana, Nebraska, Nebraska’s 3rd Congressional District, North Dakota, South Dakota and Wyoming, while Democrat Joe Biden has won New Mexico and New York. Currently, Biden is leading with 119 electoral votes and Trump is slightly behind with 92.
Spot gold has stabilized at around $1,900 an ounce level.
November 3, 20:39
CNN reports that QAnon promoter Marjorie Taylor Greene wins GA seat in Congress
November 3, 20:20
More results are coming in and Biden is still leading in the Electoral College vote 85 to 55. AP is calling the Mississippi, Oklahoma, Alabama, Tennessee and South Carolina for Trump. Biden is expected to win Illinois, Maryland, New Jersey, Massachusetts, Connecticut, Rhode Island and Delaware. So far, no major surprises in the election.
Gold prices are down as the results start to come in, but the precious metal continues to hold support above $1,900 an ounce.
November 3, 20:12
Gold price loses daily gains and turns negative. Spot gold is trading at $1,902.10, down 0.30% on the day.
November 3, 20:00
In Senate races, Mitch McConnell, Republican Senate Majority Leader has been reelected in Kentucky.
November 3, 19:54
Gold price is giving up some gains as spot gold is currently trading flat, last at $1,906, down 0.06% on the day.
November 3, 19:53
According to AP, Trump will win West Virginia and Kentucky, while Biden will take Vermont and Virginia. In Electoral votes, Biden has 16 and Trump has 13. We also need to point out that the magic number to reach is 270.
November 3, 19:35
There is still a long way to go in early counting, with all eyes right now on Florida. This has always been an important swing state investors need to watch. In a recent interview with Kitco News, Chris Vecchio, senior currency analyst at IG Group said that Florida could set the tone for the entire election race. “No Republican has won the White House without Florida since 1924. The state has been on the correct side of every presidential election since 1964,” he said. “If Ohio goes Democrat and Trump loses Florida, I would say the odds are that we know what the election results are going to be.”
November 3, 19:23
Polls have closed at 7pm ET time in six U.S. states, including Georgia, South Carolina, Virginia, Vermont, Indiana and Kentucky. Markets brace for results. Spot gold is trading at $1,911.40 an ounce, up 0.16% on the day.
November 3, 18:27
As first polls begin to close in some U.S. states, spot gold kicks off the Asian session on a stronger footing, last trading at $1,911.90, up 0.17% on the day.
November 3, 17:40
Visions of 2016 election night loom large in investors’ memories and the question is can this happen again.
The Dow closes 554.98 points higher on Tuesday, up 2.1% as gold continues to solidify its daily gains above $1,900 an ounce. December Comex gold futures are trading at $1,910.50, up 0.95% on the day.
November 3, 17:05
Make sure the coffee keeps flowing because it’s going to be a long night. Here is a list of when polling stations across the U.S. are closing.
November 3, 13:24
Gold price is up 1% on the day as the U.S. Election Day is well underway with weaker U.S. dollar and higher stocks helping the precious metal make gains above $1,900 an ounce.
December Comex gold futures are at $1,911.20, up 0.99% on the day after reaching a daily high of $1,910 an ounce. In the meantime, the U.S. dollar index is at 94.03, up 0.16% on the day, while the Dow is up nearly 600 points.
Gold is near its daily high in midday U.S. trading Tuesday. More safe-haven demand is featured for the metals as the highly anticipated and very uncertain U.S. election day is at hand. A sharply weaker U.S. dollar index today is also working in favor of the precious metals market bulls. December gold futures were last up $17.90 at $1,910.40 and December Comex silver was last up $0.282 at $24.315 an ounce.
Will gold price and stocks see big moves right after the election results? The gold price will benefit from either party’s win, but short term, the yellow metal faces bearish pressure, is the conclusion of Gary Wagner, editor of the GoldForecast.com. Let’s first look at the scenario if Trump wins. Because he is a Republican, he still will need to pass fiscal stimulus in terms of an aid package. He has agreed to $1.8 trillion while the House has been fighting for $2.2 trillion. Although they’re not that far apart, I would expect them to dig in fairly deeply. On the other hand, if we see a Democrat win for the presidential election, I think that fiscal spending will be much larger because of the reforms of the Democrats seem to favor big government spending,” he said.
The #gold price will benefit from either party’s win, but short term, the yellow metal faces bearish pressure, is the conclusion of Gary Wagner, editor of the https://t.co/0hWRV2SawShttps://t.co/7zyUxTcgJP
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November 3, 09:30
Gold begins to climb as stocks open higher. December Comex gold prices breach the $1,900 an ounce level on weaker dollar and higher stocks.
BREAKING: #Gold rises above $1,900 an ounce on Election Day as stocks resume Monday’s rally. December Comex gold futures are trading at $1,904.90 an ounce, up 0.66% on the day, while the #Dow is up more than 400 points #kitconewspic.twitter.com/oIGhPJfOAs
Gold and silver futures prices are again moderately higher in early U.S. trading Tuesday, on more safe-haven demand as the highly anticipated and very uncertain U.S. election day is at hand. December gold futures were last up $8.40 at $1,900.80 and December Comex silver was last up $0.282 at $24.315 an ounce.
November 3, 07:00
More than 100 million people have voted early in the U.S., this equals to 72.8% of the total votes cast in 2016, U.S. Elctions Projects reports.
November 3, 06:00
First polls opened at 6 am ET time in the U.S. with minimal disruptions reported.
November 2, 18:00
Top 3 trades to weather post-election storm and market bubble: Over-extended equities valuations, excellent fundamentals and balance sheets for miners, and the volatility that election results would bring to stocks are contributing factors to the following three trade ideas: long mining stocks, short broad equity indices, and short emerging market currencies, said Tavi Costa, portfolio manager at Crescat Capital.
TORONTO – Roots Corp. may have built its brand on all things comfy and cosy, but its CEO says activewear is now “really becoming a core part” of the brand.
The category, which at Roots spans leggings, tracksuits, sports bras and bike shorts, has seen such sustained double-digit growth that Meghan Roach plans to make it a key part of the business’ future.
“It’s an area … you will see us continue to expand upon,” she told analysts on a Friday call.
The Toronto-based retailer’s push into activewear has taken shape over many years and included several turns as the official designer and supplier of Team Canada’s Olympic uniform.
But consumers have had plenty of choice when it comes to workout gear and other apparel suited to their sporting needs. On top of the slew of athletic brands like Nike and Adidas, shoppers have also gravitated toward Lululemon Athletica Inc., Alo and Vuori, ramping up competition in the activewear category.
Roach feels Roots’ toehold in the category stems from the fit, feel and following its merchandise has cultivated.
“Our product really resonates with (shoppers) because you can wear it through multiple different use cases and occasions,” she said.
“We’ve been seeing customers come back again and again for some of these core products in our activewear collection.”
Her remarks came the same day as Roots revealed it lost $5.2 million in its latest quarter compared with a loss of $5.3 million in the same quarter last year.
The company said the second-quarter loss amounted to 13 cents per diluted share for the quarter ended Aug. 3, the same as a year earlier.
In presenting the results, Roach reminded analysts that the first half of the year is usually “seasonally small,” representing just 30 per cent of the company’s annual sales.
Sales for the second quarter totalled $47.7 million, down from $49.4 million in the same quarter last year.
The move lower came as direct-to-consumer sales amounted to $36.4 million, down from $37.1 million a year earlier, as comparable sales edged down 0.2 per cent.
The numbers reflect the fact that Roots continued to grapple with inventory challenges in the company’s Cooper fleece line that first cropped up in its previous quarter.
Roots recently began to use artificial intelligence to assist with daily inventory replenishments and said more tools helping with allocation will go live in the next quarter.
Beyond that time period, the company intends to keep exploring AI and renovate more of its stores.
It will also re-evaluate its design ranks.
Roots announced Friday that chief product officer Karuna Scheinfeld has stepped down.
Rather than fill the role, the company plans to hire senior level design talent with international experience in the outdoor and activewear sectors who will take on tasks previously done by the chief product officer.
This report by The Canadian Press was first published Sept. 13, 2024.
VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, are set to resume today as a strike that has stopped most services drags into a second week.
No timeline has been set for the length of the negotiations, but Joe McCann, president of the Amalgamated Transit Union Local 1724, says they are willing to stay there as long as it takes, even if talks drag on all night.
About 600 employees of the door-to-door transit service for people unable to navigate the conventional transit system have been on strike since last Tuesday, pausing service for all but essential medical trips.
Hundreds of drivers rallied outside TransLink’s head office earlier this week, calling for the transportation provider to intervene in the dispute with Transdev, which was contracted to oversee HandyDART service.
Transdev said earlier this week that it will provide a reply to the union’s latest proposal on Thursday.
A statement from the company said it “strongly believes” that their employees deserve fair wages, and that a fair contract “must balance the needs of their employees, clients and taxpayers.”
This report by The Canadian Press was first published Sept. 12, 2024.
MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.
The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.
The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.
Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.
On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.
Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.
This report by The Canadian Press was first published Sept. 12, 2024.
