(Kitco News) - As the Federal Open Market Committee meeting approaches, one analyst tells investors to keep their “zen” when it comes to gold prices.The main driver for the yellow metal this week is the Federal Reserve’s highly anticipated rate hike on Wednesday.Until then, there is “no clear direction in gold,” Boris Mikanikrezai, precious metals analyst at FastMarke...Read More
Francesco CanepaBUENOS AIRES (Reuters) - France expects the European Union to obtain a full exemption from new U.S. tariffs on aluminum and steel that are due to kick in on March 23, the French finance minister Bruno Le Maire said on Monday after meeting his U.S. counterpart.The proposed tariffs of 25 percent on steel and 10 percent on aluminum, seen as the first major step toward protectionism by...Read More
Tetsushi Kajimoto, Izumi NakagawaTOKYO (Reuters) - Confidence among Japanese manufacturers edged up in March from three months ago and the service sector’s mood hit a three-year high, the Reuters Tankan poll showed on Tuesday, signaling solid readings in the central bank’s closely-watched quarterly tankan survey.But the monthly poll, which tracks the Bank of Japan’s (BOJ)tankan d...Read More
Last night, gold prices traded lower overseas. Moving to a two-week low Monday morning in European trading, gold dropped to $1,307.50. Concerns about the outcome of this month’s FOMC meeting, which begins tomorrow and concludes on Wednesday, was a significant contributing factor to the selloff.The nervousness behind the lower pricing in gold was primarily based on the belief that the Fed wil...Read More
Oil climbs to a three-week high amid output curbs by OPECTreasury notes decline ahead of Federal Reserve policy meetingUniCredit's Nielsen Sees Probability of Significant Slowdown in 2019U.S. stocks edged higher, led by energy-related companies, as equity markets shrugged off weakness in technology and threats of global trade barriers. Government bond yields increased as investors braced for highe...Read More
Drug stocks took a late-day hit after Trump threatened litigationStocks started the week on the wrong foot, as the Dow closed more than 330 points lower. FAANG stocks were the culprit in today's collapse, as Facebook (FB) sold off amid its data-harvesting controversy, dragging tech into the red. In addition, Apple (AAPL) faced scrutiny over iPhone demand. As such, the S&P also ended with a steep l...Read More
(Adds quotes, CEFC statement)By Jan LopatkaPRAGUE, March 19 (Reuters) - Chinese officials have told a visiting Czech delegation that the chairman of Chinese conglomerate CEFC China Energy, Ye Jianming, is under investigation and is stepping down from his post, the Czech president’s office said on Monday.A Czech subsidiary of CEFC also said there was a “planned change in the shareholder...Read More
LAS VEGAS (Reuters) - Amazon.com Inc (AMZN.O) is tracking how regularly customers shop at its store without checkout lines in Seattle - and so far, the verdict is they keep coming back.“The ones who work very close, like in the building up above, will come down even just to grab a drink because it’s so fast and easy,” Amazon Vice President Gianna Puerini said in an interview at t...Read More
(Reuters) - U.S. stocks dropped on Monday as a plunge in shares of Facebook led a sell-off in technology stocks on reports that the social media company’s user information was misused.Facebook shares tumbled 7.1 percent as Chief Executive Mark Zuckerberg faced calls from both U.S. and European lawmakers to explain how a consultancy that worked on President Donald Trump’s election campa...Read More
The new cry for metals is “Help!I have fallen and can’t get up.” Across the board, metals are taking a beatingand need the alert button as they call for help. Gold, copper and silver areall at the bottom end of trading ranges and could be in danger of breaking downhere as we wait for Wednesday’s Fed decision.Interestingly enough, thesuppression of the dollar by the Fed and...Read More
BERLIN (Reuters) - Germany believes there is a chance that the European Union and the United States could avoid a dispute over planned U.S. tariffs on steel and aluminum imports from morphing into a wider trade conflict, its economy minister said on Monday.“Both Secretary Ross and I have the impression that decisive talks will take place this week and that it is possible to reach a solution...Read More
WASHINGTON (Reuters) - Retailers and shoemakers continued to sound alarms on Monday about their concerns that President Donald Trump’s plan to impose sweeping tariffs on imported goods from China will result in higher consumer prices.Several large U.S. retail companies, including Wal-Mart Inc, Target Corp, Best Buy Co Inc and Macy’s Inc, on Monday sent President Donald Trump a letter u...Read More
WARSAW (Reuters) - The European Union must have a common policy towards Russia and China, German Chancellor Angela Merkel said on Monday.“We must have a common policy towards Russia and China,” Merkel said via a translator at a joint conference with Polish Prime Minister Mateusz Morawiecki in Warsaw.Merkel also said that the future of the entire European Union was important for her gov...Read More
Arcadia Biosciences has now added 943% so far in MarchAgricultural technology concern Arcadia Biosciences Inc (NASDAQ:RKDA) is expected to report its fourth-quarter earnings tomorrow after the stock market closes. RKDA has been buzzing in headlines since late last week when its wheat portfolio met key goals, and today, the stock has popped 11.4% to trade at $46.36 on news the company launched its...Read More
NEW YORK (Reuters) - The euro rose on Monday after a Reuters report that European Central Bank officials were shifting their debate from bond purchases to the expected path of interest rates, reviving bets that the ECB may raise rates sooner than previously thought.Sterling pushed to its highest against the euro in more than five weeks and against the dollar in more than a month, as Britain and th...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday blocked the use of Venezuelan cryptocurrencies through an executive order prohibiting such transactions by those in the United States, the White House said in a statement.The order bars “all transactions related to, provision of financing for, and other dealings in, by a United States person or within the United States, any digital...Read More
The iPhone maker is reportedly developing an alternative to the OLED screen it currently usesShares of Universal Display Corporation (NASDAQ;OLED) have plunged 14.8% to trade at $105.70, after Bloomberg reported Apple Inc. (NASDAQ:AAPL) has been developing its own MicroLED screens -- a thinner and brighter option than the OLED displays the iPhone maker currently uses, and one that requires less ba...Read More
WASHINGTON (Reuters) - Saudi Arabia called the 2015 nuclear deal between Iran and world powers a “flawed agreement” on Monday, on the eve of a meeting between the Saudi Crown Prince and U.S. President Donald Trump who have both been highly critical of Iran.“Our view of the nuclear deal is that it’s a flawed agreement,” Saudi Foreign Minister Adel al-Jubeir told report...Read More
FRANKFURT (Reuters) - All conditions are in place for euro zone inflation to rise but the European Central Bank should still remove stimulus with caution to avoid undue market turbulence, ECB board member Yves Mersch said on Monday.“All prerequisites for a sustainable adjustment of inflation to our objective are given,” Mersch said in Frankfurt, referring to the ECB’s inflation t...Read More
OTTAWA (Reuters) - U.S. President Donald Trump appears to be “enthusiastic” about coming to an agreement on renegotiating the North American Free Trade Agreement (NAFTA), Canada’s Prime Minister Justin Trudeau said on Monday.Mexican and U.S. officials earlier this month pushed to speed up NAFTA negotiations, though Trump has repeatedly threatened to terminate the trade pact betwe...Read More