(Kitco News)- As the saying goes: “God is in the details,” and gold investors willhave a lot of details to sift through next week that will see two criticaleconomic events.Not only will markets have to navigate a Federal Reserve monetary policymeeting, but April employment data on Friday will also add to the volatility.However, some analysts are skeptical that the events will be able t...Read More
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) is expected to cut around 1,000 jobs or 10 percent of its workforce in the United States, a person familiar with the matter said on Friday, as the German lender scales back its global investment banking ambitions.The bank has already axed 400 U.S.-based employees this week - of which around three quarters worked in its trading business and the rest in...Read More
YEREVAN (Reuters) - Armenia’s acting prime minister, Karen Karapetyan, rejected a proposal by opposition leader Nikol Pashinyan to hold talks on Friday to defuse a political crisis engulfing the small South Caucasus nation.Armenia, a close ally of Russia, has been rocked by two weeks of anti-government protests against the ruling elite which led on Monday to the resignation of Serzh Sarksyan...Read More
• Higher than expected US GDP does little to prompt fresh selling. • Retracing US bond yields supportive of the short-covering bounce. Gold held on to its modest recovery gains post-US GDP print and is now looking to build on its move back above 100-day SMA support turned resistance near the $1320 region. The commodity stalled its recent downfall and...Read More
The gold miners' stocks have mostly been consolidating low this year, exacerbating bearish sentiment. Even with gold grinding higher in a solid uptrend and nearing a major upside breakout, the gold stocks just can't get any love. But that may be about to change, with gold and its miners' stocks in the midst of their spring rally. Strong seasonal tailwinds make May one of the best months of t...Read More
OSAGE CITY, Kansas (Reuters) - Paul Davis has a simple formula for winning over President Donald Trump’s supporters in his Kansas race for Congress: He talks about kitchen table issues, like prescription drug prices and farm tariffs. And he is in no hurry to announce he’s a Democrat.Davis and other party moderates believe that neglected rural and working-class voters in Midwestern dist...Read More
WASHINGTON (Reuters) - The U.S. House of Representatives overwhelmingly approved a long-delayed bill Friday to reauthorize the Federal Aviation Administration after Republicans gave up on a plan to privatize air traffic control.The bill was approved by a 393-to-13 vote and now moves to the U.S. Senate, which could take the issue up as early as next month.Republicans in February conceded after mont...Read More
(Repeats earlier story, no change to text)* Spot gold headed for weekly decline* Retail demand in India subdued* Slight pick-up in Singapore in last couple of daysBy Rajendra Jadhav and Eileen SorengMUMBAI/BENGALURU, April 27 (Reuters) - Physical gold demand lacked vigour in most Asian hubs this week amid a slight dip in prices, while the yellow metal switched to a premium in India for the first t...Read More
SEOUL (Reuters) - For years, he has been regarded by South Koreans as a ruthless bully, the face of a hostile neighbor intent on developing weapons of mass destruction whose subjects heeded his every whim.But during a 12-hour visit across the border Friday, North Korean leader Kim Jong Un managed to soften that image, at least somewhat, by presenting himself as a normal, even likeable fellow with...Read More
WASHINGTON (Reuters) - President Donald Trump on Friday said that two or three possible sites were under consideration for a meeting between him and North Korean leader Kim Jong Un, and he vowed he would not be “played” by his North Korean counterpart.Trump, meeting with German Chancellor Angela Merkel at the White House, told reporters if it became obvious the United States and North...Read More
The S&P and Nasdaq have pulled back despite upbeat tech earningsThe Dow Jones Industrial Average (DJI) is trading lower today, as an Exxon Mobil (XOM) sell-off overshadows well-received earnings from Microsoft (MSFT) and Intel (INTC). In fact, a broader tech rally, highlighted by Amazon's (AMZN) post-earnings record high, has largely lost steam, putting the S&P 500 Index (SPX) and Nasdaq Compos...Read More
LONDON (Reuters) - World stocks rose on Friday, lifted by strong share price gains for tech giants such as Amazon and Facebook and growing hopes of a lasting peace on the Korean peninsula after a ground-breaking meeting of North and South Korean leaders.European shares were set to end the week with a flourish too with a pan-European index set to post its fifth week of gains in a row, with the tech...Read More
LONDON (Reuters) - The Bank of England and European Central Bank will create a task force to keep markets orderly in the event of a “cliff edge” Brexit next March.The European Commission and Britain’s finance ministry said they had asked the two central banks to convene a working group on “risk management in the period around 30 March 2019 in the area of financial services&...Read More
(Kitco News) - Famed hedge fund manager and“bond king of Wall Street” Jeffrey Gundlach continues to be bullish on gold,reiterating his call that when the market breaks above through criticalresistance at $1,360 an ounce, gold will push $1,000 higher.According to recent Reuersarticle, Gundlach presented his bullish case for gold Tuesday at an event forDoubleLine clients. He also said th...Read More
(Kitco News) - Sentimentin the gold market is mixed as Wall Street is bearish while Main Street isbullish on the short-term outlook for gold prices, based on the Kitco Newsweekly gold survey.Themarket professionals who took part in the Wall Street survey look for furthergold declines on signs of peace on the Korean Peninsula, which would mean lesssafe-haven buying of the precious metal. They also...Read More
NEW YORK (Reuters) - U.S. companies are on track to buy back a record amount of their own stock this year, but a decades-old markets rule aimed at preventing manipulation makes these trades easy to game and has probably cost companies billions in recent years.Stock buybacks were banned in the United States until 1982, when rules were set as to how companies could repurchase their shares without fa...Read More
SEOUL (Reuters) - North and South Korea made ambitious promises for peace on Friday, including to formally end the Korean War this year, but made only a vague commitment to “complete decentralization of the Korean peninsula” without specifics on how that key goal would be achieved.The declaration signed at the historic summit between the leaders of the two Koreas also did not mention s...Read More
The two oil companies reported first-quarter earnings before the bell this morningEarnings season is powering forward, with the latest batch of reports that came in early this morning including a pair of blue-chip oil concerns. Specifically, Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) reported earnings before today's opening bell, but the energy stocks are trading in oppo...Read More
• A mildly softer tone around US bond yields prompts some short-covering. • Stronger USD/fading safe-haven demand likely to cap any strong recovery. Gold now seems to have entered a bearish consolidation phase and was seen oscillating in a narrow trading range near 5-week lows, below 100-day SMA. A strong wave of US Dollar buying interest, triggered b...Read More
The equity tends to bounce after dips to its 320-day moving averageFast-food titan McDonald's Corporation (NYSE:MCD) is slated to report earnings before the opening bell on Monday. While the shares of the blue chip have struggled in 2018, the stock could be sending up a "buy" signal before earnings, if recent history is any indicator.McDonald's stock recently pulled back to within one standard dev...Read More