WASHINGTON, (Reuters) - U.S. industrial production jumped 1.1 percent in February, the largest increase in four months, due to a weather-related rebound in construction and a rise in output from the nation's oil and gas fields and mines.Manufacturing output rose 1.2 percent, the biggest gain since October, the Federal Reserve said in its monthly report.Economists polled by Reuters had forecast a 0...Read More
(Kitco News) - Goldpriceshave lost modest early gains and are trading moderatelylower and hit a two-week low in late-morning action Friday. The gold marketstarted to slip when the U.S. dollar index pushed above unchanged and moved toits daily high. The gold market is now poised to close at a technically bearishweekly low close today, which would also then suggest more selling pressureearly next we...Read More
LONDON (Reuters) - Appetite for equities came back with a vengeance this week, driving record inflows as concerns around trade dissipated and billions more were plowed into tech stocks, Bank of America Merrill-Lynch strategists said on Friday.Alongside the resurgence of a “wall of money” going into stocks, BAML however noted that equities are not yielding as much as these flows would s...Read More
WASHINGTON (Reuters) - U.S. homebuilding fell more than expected in February as a plunge in the construction of multi-family housing units offset a second straight monthly increase in single-family projects.Housing starts declined 7.0 percent to a seasonally adjusted annual rate of 1.236 million units, the Commerce Department said on Friday. Data for January was revised up slightly to show groundb...Read More
WASHINGTON (Reuters) - As another U.S. government funding deadline looms, a huge spending bill is ground zero in the latest battle between Republicans and Democrats in Congress over President Donald Trump’s push to toughen immigration policy.Lawmakers have until March 23 to work out how to fund government agencies for the next six months. But their behind-the-scenes negotiations are caught u...Read More
(Reuters) - U.S. stock index futures pointed to a flat opening for Wall Street on Friday as continuing turmoil in the Trump administration kept investors on edge.The three main indexes were set to record losses for the week that was dominated by concerns of global trade war and political drama that began with Secretary of State Rex Tillerson’s exit.The Washington Post reported on Thursday th...Read More
All three major U.S. benchmarks are set for weekly lossesU.S. stock futures are signaling a cautious open, as traders watch mixed reports surrounding the White House. In the same week he fired Secretary of State Rex Tillerson, President Donald Trump is supposedly considering removing National Security Advisor H.R. McMaster -- though a tweet from Press Secretary Sarah Huckabee Sanders suggested tha...Read More
GENEVA (Reuters) - President Donald Trump’s announcement last week of a 25 percent tariff on U.S. imports of steel and 10 percent on aluminum caused a global outcry.The following sets out how Washington might try to justify the tariffs at the World Trade Organization, which is supposed to police agreed free trade rules, and how the WTO might address the issue.NO WORD TO THE WTOThe tariffs an...Read More
(Kitco News)- The gold market is seeing little reaction to weaker thanexpected housing construction data. Friday, the Commerce Department said housing starts dropped 7% in Februaryto a seasonally adjusted annual rate of 1.236 million units. Economists wereexpecting new home construction to be mostly weaker falling to a rate of 1.29million units.For the year, new home construction is up 2.9% from F...Read More
* Indian discounts unchanged at $3 an ounce* China premiums at about $8/oz; 60 cents-$1.20/oz in Hong Kong* Spot gold range-bound at $1,313.56/oz and $1,330.02/ozBy Rajendra Jadhav and Nithin ThomasPrasadMUMBAI/BENGALURU, March 16 (Reuters) - Weaker demand in India prompted gold dealers to offer discounts for a second week straight, as a drop in local prices to 2-week lows and a festival failed to...Read More
BRUSSELS (Reuters) - Euro zone consumer prices grew less than expected in February because of a fall in unprocessed food prices and reduced energy inflation, data from the European Union’s statistics office Eurostat showed on Friday.Inflation in the 19 countries sharing the euro was 0.2 percent month-on-month and 1.1 percent year-on-year. Economists polled by Reuters had expected that monthl...Read More
Redfin's Nela Richardson Says Housing Starts Are DisappointingU.S. new-home construction cooled by more than expected in February on a reversal in the volatile multifamily category, while building remained on pace to contribute to economic growth this quarter, government figures showed Friday.Highlights of Housing Starts (February)Residential starts fell 7% to a 1.24m annualized rate (est. 1.29m)...Read More
BERLIN (Reuters) - The United States has set conditions for scrapping its planned punitive tariffs on steel and aluminum imports from Europe, German magazine Der Spiegel reported, including capping U.S.-bound exports of the metals at 2017 levels.The European Union has been pushing for talks to avert a trade war since U.S. President Donald Trump announced he would slap tariffs on a raft of high-val...Read More
• Renewed USD selling bias helps defend $1313 important support. • Risk-off mood provides an additional to safe-haven appeal. Gold extended its steady climb move from weekly lows and has now moved to fresh session tops, around the $1318-19 region. The precious metal once again managed to find some buying interest near the $1313 support area and has no...Read More
Gold exchange-traded funds collectively justposted their largest daily accumulation of metal in roughly a month, says BMOCapital Markets. “Amid rising political friction and increased securityconcerns as the Washington Post suggested President Trump plans to remove hisnational security adviser, gold ETF holdings saw the largest one-day increasesince mid-February,” BMO says. A 180,000-o...Read More
(Kitco News) - Goldpricesare posting a modest rebound in early U.S. trading Friday, following theselling pressure seen on Thursday. It’s been a week of choppy trading in thegold and silver markets. There was no fresh, major fundamental news overnightto drive price action. April Comex gold futures were last up $2.20 an ounce at$1,319.90. May Comex silver was last up $0.033 at $16.455 an ounce...Read More
Mr. Nav Dhaliwal reportsBONTERRA RESOURCES NOW TRADES ON OTCQX RECEIVING FULL DTC ELIGIBILITYOn March 16 Bonterra Resources Inc.'s common shares will be trading in the United States on the OTCQX International, the highest tier of the OTC market, under the symbol BONXF. Bonterra's common shares continue to trade on the TSX Venture Exchange under the symbol BTR."Bonterra's expansion into the U.S. se...Read More
Is $71 As Good As It Gets for Oil Bulls This Year? Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a sol...Read More
WASHINGTON (Reuters) - The head of the most influential U.S. business lobbying group warned the Trump administration that unilateral tariffs on Chinese goods could lead to a destructive trade war that will hurt American consumers and U.S. economic growth.U.S. Chamber of Commerce President Thomas Donohue said in a statement on Thursday that such tariffs, associated with a probe of China’s int...Read More
(Reuters) - Former Qualcomm Inc (QCOM.O) Chairman Paul Jacobs has informed its board of directors that he will seek to partner with investment firms to make an offer for the U.S. semiconductor company, people familiar with the matter said on Thursday.Jacobs’ attempt to put together an offer comes just a few days after Qualcomm fended off a $117 billion hostile bid from Singapore-based rival...Read More