Gold settled lower Friday, logging its worst weekly decline so far this year as the U.S. dollar bounced back from its earlier weakness. April gold GCJ8, +0.12% fell $2.40, or 0.2%, to settle at $1,330.30 an ounce, falling 1.7% for the week. March silver SIH8, +0.16% slid 10 cents, or 0.6%, to $16.48 an ounce for a weekly drop of 0.8%. Although gold finished out the week in negative territory, th...Read More
* Dollar index up nearly 1 pct this week* Buying muted in China after New Year break* GRAPHIC-2018 asset returns: (Recasts throughout; updates prices; adds comment, NEW YORK to dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Feb 23 (Reuters) - Gold eased on Friday, heading towards its biggest weekly decline in 2-1/2 months, as the U.S. dollar climbed from last week's three-year low on t...Read More
The holiday-shortened trading week saw mixed price action on Wall Street, with a post-earnings slump for big-cap retailer Walmart (WMT) pressuring the Dow and S&P 500 Index (SPX) toward a third weekly loss out of four -- and putting the indexes comfortably on track to snap their 10-month winning streaks. And while the Nasdaq Composite (IXIC) appears ready to end the week higher as a Friday surge h...Read More
FRANKFURT, Feb 23 (Reuters) - The European Central Bank has bought enough bonds so that it could retreat from further purchases without risking an unwarranted rise in yields, ECB executive board member Benoit Coeure said on Friday."In the future, the Eurosystem can retreat as buyer in the market without risking an unwarranted decompression of the term premium," Coeure told a conference i...Read More
(Adds Gundlach on Mnuchin remarks)NEW YORK, Feb 23 (Reuters) - Jeffrey Gundlach, chief executive of Doubleline Capital, said on Friday that while bond yields seem to "make sense" at current levels, he has a "low conviction feeling" that they could break out to the upside, representing a "clear and present danger."Gundlach, on CNBC television, said commodities are the...Read More
ImmunoGen, Inc. (NASDAQ:IMGN) shares have been on a tear in 2018, advancing more than 75% already this year. What's more, IMGN stock could have room to run, if recent history is any indicator. Meanwhile, fellow biotech Exelixis, Inc. (NASDAQ:EXEL) reports earnings next week, and EXEL stock's recent pullback to a key trendline could mean now is the time to jump on the longer-term uptrend.IMGN Optio...Read More
* Fed sees no risks to change planned pace of rate hikes* Blue Buffalo soars after General Mills' $8 bln buyout* Hewlett Packard Enterprise hits record high on results* Indexes up: Dow 0.58 pct, S&P 0.8 pct, Nasdaq 0.85 pct* Dow, S&P still down for the week; Nasdaq edges higher (Updates to early afternoon)By Sruthi ShankarFeb 23 (Reuters) - Wall Street's main indexes rose on Friday, with g...Read More
TahoeResources Inc. (TSX: THO; NYSE: TAHO), which has been dealing with ashutdown of the giant Escobal silver mine in Guatemala over a mining-licenseissue, posted a loss in the fourth quarter of $18 million, or 6 cents pershare. This compares to 0.3 million, or nil, in the same period a year ago. Theadjusted loss was $17.7 million, a turnaround from an $18.4 million profit ayear ago. For ful...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy. (Kitc...Read More
Even as rival Weight Watchers International, Inc. (NYSE:WTW) has surged on the charts, weight loss specialist NutriSystem Inc. (NASDAQ:NTRI) has failed to gain any momentum. The stock is down 23.5% in 2018, last seen trading at $40.25, but it'll have a chance to turn things around with earnings scheduled for after the close on Monday. Unfortunately for shareholders, poor earnings reactions have pl...Read More
In the previous part, we thoroughly analyzed the bull and bear trends in the U.S. dollar. But what about gold cycles? Let’s look at the chart below, which shows the long-term behavior of gold prices. Chart 1: Gold bull and bear cycles (from 1971 to 2018, London P.M. Fix, in $). As one can see, there were only four cycles compared to six in the U.S. dollar: two gold bull markets and two...Read More
SAO PAULO, Feb 23 (Reuters) - Mexican stocks led losses across Latin America on Friday as poor economic growth figures there pushed the benchmark IPC index down almost 1 percent during an otherwise quiet day in the region.Early on Friday, Mexico's national statistics agency said gross domestic product in Latin America's second biggest economy expanded 0.8 percent in the fourth quarter from the pre...Read More
MILAN, Feb 23 (Reuters) - A sole non-binding expression of interest for Telecom Italia's majority-owned broadcasting unit Persidera unit came from U.S.-based infrastructure fund I Squared Capital, two sources familiar with the matter told Reuters.One of the sources had said previously that the non-binding expression of interest valued the unit at 290 million euros ($356.6 million). So far TIM has...Read More
NEW YORK, Feb 23 (Reuters) - Jeffrey Gundlach, chief executive of Doubleline Capital, said Friday that while bonds yields seem to "make sense" at current levels, he has a "low conviction feeling" that they could breakout to the upside, representing a "clear and present danger."Gundlach, on CNBC television, said commodities are the best place to be during late-stage ec...Read More
Gold bull and bear marketsIn the previous part, we thoroughly analyzed the bull and bear trends in the U.S. dollar. But what about gold cycles? Let's look at the chart below, which shows the long-term behavior of gold prices.Chart 1: Gold bull and bear cycles (from 1971 to 2018, London P.M. Fix, in $).As one can see, there were only four cycles compared to six in the U.S. dollar: two gold bull ma...Read More
(Adds Fed's Board of Governors' semiannual report to Congress on monetary policy, change in schedule for Powell's congressional testimony)By Trevor HunnicuttNEW YORK, Feb 23 (Reuters) - Investors are starting to doubt whether they can count on the protective embrace of an accommodative U.S. central bank when markets go haywire.Federal Reserve chair Jerome Powell has said little about the sharp fa...Read More
Gold is faring quite well today technically, though you sure wouldn't know it from the rampant bearish sentiment. Gold's price is in a strong uptrend over a year old, high in both its current upleg and young bull market. Gold isn't far from breaking out to its best levels since September 2013, a really big deal. The stock markets even finally sold off after years of unnatural calm. Yet trade...Read More
* LME/ShFE arb: (Updates with closing prices)By Eric OnstadLONDON, Feb 23 (Reuters) - Copper, zinc and other base metals prices fell on Friday as investors locked in profits and the dollar firmed amid uncertainty over demand in top metals consumer China. Benchmark copper gained about 8 percent earlier this month in a rally that lifted the metal to its highest in a month last Friday at $7,253 a ton...Read More
Stocks are once again higher at midday, with tech taking the lead. The Fed remains in focus, as the central bank's semiannual monetary policy report pointed to just three rate hikes in 2018. In addition, ahead of new Fed Chair Jerome Powell's first Congressional testimony next week, New York Fed President William Dudley waxed optimistic on the central bank's drawdown of its balance sheet, and inve...Read More
* Yields on 10-year Treasury notes down for second day* General Mills to buy Blue Buffalo for $8 bln* Hewlett Packard Enterprise hits record high* Indexes up: Dow 0.81 pct, S&P 0.72 pct, Nasdaq 0.76 pct (Changes comment, adds details, updates prices)By Sruthi ShankarFeb 23 (Reuters) - Wall Street's main indexes rose on Friday, with gains in technology stocks helping claw back some of the week'...Read More