JOHANNESBURG, Aug 31 (Reuters) - South Africa aims topublish a long-delayed mining charter by November, the miningminister said on Friday, finalising a law that has been hotlydisputed between the industry and government.The mining industry in Africa's most industrialised economyis facing a wave of job cuts due to low global commodity demand,high wage costs and a volatile labour environment.Mining...Read More
BEIJING, Aug 31 (Reuters) -* The Shanghai Futures Exchange (ShFE) will start tradingcopperoptions on Sept. 21, Chang Depeng, a spokesman for the ChinaSecurities Regulatory Commission, said on Friday. * The exchange has recently been testing and seekingmarket-makersfor its options contract, with another simulated trading sessionto be held this weekend.* An options contract gives the buyer the right...Read More
By Luc Cohen and Rodrigo CamposBUENOS AIRES/NEW YORK Aug 31 (Reuters) - Investors werelooking on Friday for hints of a fiscal package the Argentinegovernment said it would announce next week after dramatic dropsin the peso currency, while the opposition called for protestsas discontent with President Mauricio Macri grows.The peso lost 20 percent of its value against theU.S. dollar in the two days...Read More
* Meeting at China Ministry of Commerce on Monday -sources * Probe follows announcement of new U.S.-Mexico trade deal * 'High odds' of 30 pct anti-dumping duties -consultancy (Updates throughout)By Tom DalyBEIJING, Aug 31 (Reuters) - China's Ministry of Commerce hascalled domestic aluminium foil makers to a meeting in Beijing onMonday to discuss an anti-dumping probe launched by Mexico,three peopl...Read More
BEIJING, Aug 31 (Reuters) - China will speed up efforts tocreate an environmentally friendly pricing system to encouragethe conservation of water and power and create incentives forwaste disposal, the environment ministry said on Friday.In a press release issued ahead of a press briefing, theMinistry of Ecology and Environment said it would also makeefforts to establish a new subsidy and credit su...Read More
BERLIN, Aug 31 (Reuters) - European Commission PresidentJean-Claude Juncker said he hoped a July "ceasefire agreement"with U.S. President Donald Trump to refrain from imposing cartariffs would prevail, but the EU would impose its own tariffsif the U.S. changed course.Trump rejected an EU offer to eliminate tariffs on cars andsaid the EU's trade policies are "almost as bad as China,&...Read More
If you listen closely, you'll hear gold investors whispering that "it's an ill wind that blows no good." That's because, while September may be the worst month of the calendar for stocks, it's the best month for gold. Since it began trading freely in the U.S. in the early 1970s, gold bullion GCZ8, +0.16% has produced an average gain of 2.1% in September. The comparable monthly average for all no...Read More
* Withholding tax on lira deposits cut * Lira has lost 42 percent against dollar this year * Central bank deputy governor to leave post, sources say * Central bank to hold policy meeting on Sept. 13 (Recasts, adds Albayrak, Erdogan and economist)By Daren Butler and Tuvan GumrukcuISTANBUL, Aug 31 (Reuters) - Turkey accused Western creditrating agencies on Friday of deliberately attempting toundermi...Read More
ALPBACH, Austria, Aug 31 (Reuters) - Euro zone countriesneed to increase efforts to establish a single capital market todefend their interests and counter the dominance of the U.S.dollar, a veteran European Central Bank policymaker said."The economic policy of the United States is currently oneof the substantial risks to the global economy," Austriancentral bank governor Ewald Nowotny to...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The S&P 500 and lNasdaq ended lower for the first time in five sessions, ending a string of record closes. The Dow Jones Industrial Average also fell, ending its four-day winning streak.Salesforce.com Inc. (CRM) slid 1.7% on Thursday after issuing soft guidance for its fiscal third quarter. Wall Str...Read More
The Thursday Market Minute Global stocks retreat following four consecutive record-setting session on Wall Street as investors worry NAFTA focus puts China trade deal on ice.China stocks slip, pulling Asia shares into the red, as markets brace for fresh tariffs on $200 billion worth of U.S. exports.European stocks open weaker amid lingering concerns over banks exposure to Turkey; Pound pops past...Read More
CloseGain/LossOn WeekGold $1199.10-$1.10-0.54%Silver$14.51-$0.05-2.03%XAU66.24%4-0.2-2.13%HUI143.23-0.29%-2.44%GDM517.50-0.67%-1.98%JSE Gold996.21+24.51+4.74%USD95.09+0.44-0.04%Euro116.06-0.69-0.15%Yen90.09-0.09+0.07%Oil$69.80-$0.45+1.57%10-Year2.862%-0.003+1.74%Bond144.71875-0.25-0.77%Dow25964.82-0.09%+0.68%Nasdaq8109.54+0.26%+2.06%S&P2901.52+0.01%+0.93% The Metals: Gold...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort207,370210,43360,824165,581173,843433,775445,100Change from Prior Reporting Period -6,130-11,7772,018-9485,629-5,060-4,130Traders181100935642280195 Small Speculators (C) GoldSeek.com LongShortOpen Interest 45,50834,183479,283 613-317-4,447 non reportable positionsChange from t...Read More
By David Brady, CFAMoney Managers ("Funds") continue to cut longs and add shorts, while Gold remains oversold technically and overbearish from a sentiment perspective. This has been the situation since May, and yet Gold continued to fall. I see this as a massive build-up of fuel for the coming rally. China controls the dollar price of Gold via USD/CNY and XAU/CNY to a lesser extent which is the...Read More
By Frank HolmesFor years, Adam Sharp has helped accredited and retail investors get in on the ground floor of some of the most promising early stage investment opportunities. These include not just venture capital but also equity crowdfunding and cryptocurrencies, which he added last year to his two research offerings, First Stage Investor and Crypto Asset Strategies.I recently had the pleasure...Read More
By Gary TanashianThe 'Gold as Inflation Hedge' CanardOn the one hand you have the sons of Harvey & Erb, who called gold to $800/oz. and caused a stir in the gold "community". Per Campbell Harvey in this video with Kitco's Daniella (dig the flowing golden locks of hair)..."Gold is just too volatile" to be an effective inflation hedge.Well yes sir, you are right. Gold does not track inflation in a...Read More
This week, as investors and economists fixate on record highs set by major stock market indices, they have ignored much more significant developments that emerged from the Federal Reserve's annual meeting in Jackson Hole, Wyoming. Fed Chairman Jerome Powell delivered a speech that somehow was almost universally interpreted as a reiteration of his commitment to continue to raise rates throughout...Read More
By Jordan Roy-Byrne CMT, MFTA After a vicious selloff precious metals have stabilized. Its not a surprise given the breadth and sentiment extremes we noted and had predicted earlier. Although recent gains have met some resistance, the immediate path of least resistance should be higher. Let's take a look at the key support and resistance levels for the metals and the miners. Gold has retreate...Read More