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.(Kitco...Read More
(Reuters) - Wall Street’s main indexes fell on Wednesday as U.S. President Donald Trump looked set to impose steep tariffs on imported steel and aluminum this week, a move that could spiral into a global trade war.The markets have been choppy, with the Dow falling more than 300 points, following the exit of staunch free trade supporter Gary Cohn from the White House.“There is more of a...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday that China has been asked to develop a plan to reduce its trade surplus with the United States, without giving any details on how such a request had been conveyed.Trump is pressing to implement campaign promises of hardening the U.S. stance on trade. Last week, he announced that he planned to impose heavy tariffs on imported stee...Read More
President Donald Trump's proposed tariffs on steel and aluminum imports have made major waves in both Washington, D.C., and on Wall Street. Not only did Trump's chief economic advisor just hit the bricks in opposition, but European leaders are now warning of retaliatory tariffs, exacerbating concerns about a global trade war and sending U.S. stocks lower today. However, notable exceptions to the d...Read More
FRANKFURT (Reuters) - Goldman Sachs is starting to move some senior bankers to Frankfurt in preparation for Britain’s exit from the European Union, the investment bank’s co-chief for Germany said on Wednesday.“We’re starting to build infrastructure by making transfers and moving senior people to Frankfurt,” Joerg Kukies said at a conference, without giving the number...Read More
NEW YORK (Reuters) - The dollar held steady on Wednesday, recouping earlier losses tied to the exit of a top economic adviser to U.S. President Donald Trump, which had raised concerns that tensions over a global trade war were entering a heightened phase.Doubts among traders persist over whether Trump’s proposed tariffs on imported steel and aluminum will be enacted, even after the White Hou...Read More
WASHINGTON (Reuters) - The U.S. trade deficit increased to a more than nine-year high in January, with the shortfall with China widening sharply, suggesting that President Donald Trump’s “America First” trade policies are unlikely to have a material impact on the deficit.The trade deficit continues to widen a year into the Trump presidency. Trump, who claims that the United State...Read More
SACRAMENTO (Reuters) - U.S. Attorney General Jeff Sessions, escalating the Trump administration’s rhetoric against the most populous U.S. state, accused California on Wednesday of obstructing federal immigration enforcement efforts and vowed to stop the state’s defiance.Sessions made the remarks to a law enforcement group a day after Republican President Donald Trump’s Justice De...Read More
(Kitco News)- Mininginvestors might want to pay more attention to Canadian projects as the countryis expected to have strong production growth in a world that is seeing adecline in the quality of gold deposits, according to one search firm.Canada's largest gold mine, Malartic Mine, Quebec, CanadaIna presentation during the 2018 Prospectors & Developers Association ofCanada (PDAC) convention, V...Read More
The Dow Jones Industrial Average (DJI) was off more than 300 points at its intraday low, as the resignation of Gary Cohn as top economic adviser to President Donald Trump and a surging trade deficit -- which climbed to a nearly 10-year high in January -- rekindled fears of a looming global trade war. While the index has pared these losses, a sharp drop for Exxon Mobil (XOM) -- with the oil major...Read More
(Reuters) - Wall Street’s main indexes fell on Wednesday as investors worried the exit of staunch free trade supporter Gary Cohn from the White House made the imposition of hefty steel and aluminum tariffs and eruption of a global trade war more likely.The Dow fell as much as 1 percent at opening before trimming some of those losses as markets again debated how serious Donald Trump was about...Read More
Kroger Co (NYSE:KR) is expected to report fourth-quarter earnings before the market opens tomorrow, March 8. Overall, Kroger stock has had a relatively muted year on the charts, having pulled back to trade just below its 2017 year-end close at $27.45, despite touching an annual high of $31.45 on Jan. 30. If past is precedent, though, the grocery stock could be gearing up for a big move following...Read More
NEW YORK (Reuters) - The U.S. economy is on track to expand at a 2.8 percent annualized rate in the first quarter following data on domestic vehicle sales in February and trade balance in January, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday.The latest estimate on gross domestic product was slower than the 3.5 percent growth pace calculated on March 1, the Atlanta Fed sa...Read More
HOUSTON (Reuters) - U.S. Energy Secretary Rick Perry said on Wednesday that he is “not sure” President Trump has finished making up his mind on levying tariffs on imported steel and aluminum.The President wants to protect American workers against countries that engage in unfair trade practices, Perry said, in remarks on the sidelines of the CERAWeek energy conference. He added: “...Read More
LUXEMBOURG/GENEVA (Reuters) - Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminum.The departure of Gary Cohn, seen as a bulwark against Trump’s economic nationalism, hit shares, oil and the dollar, as investors saw...Read More
LONDON (Reuters) - Prime Minister Theresa May defended Britain’s links to defense and security ally Saudi Arabia on Wednesday, as Saudi Crown Prince Mohammed bin Salman met Britain’s Queen Elizabeth for lunch at the start of a high profile visit to London.A fiery exchange in parliament between May and opposition Labour Party leader Jeremy Corbyn underlined tension in Britain over Princ...Read More
Canada's gold output will increase in the next five years to more than 300 tonnes annually, an 80% growth from current levels, research firm Wood Mackenzie said Wednesday.The rise in production would make the nation the world's second-largest bullion producing country, behind China, Vince Madden-Scott, manager of gold cost services at UK-based research firm said.Speaking at the 2018 Prospectors &...Read More
Canada's gold output will increase in the next five years to more than 300 tonnes annually, an 80% growth from current levels, research firm Wood Mackenzie said Wednesday.The rise in production would make the nation the world's second-largest bullion producing country, behind China, Vince Madden-Scott, manager of gold cost services at UK-based research firm said.Speaking at the 2018 Prospectors &a...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.(Kitco...Read More
(Note story contains language that may offend some readers)By Katharine HoureldNAIROBI (Reuters) - U.S. Secretary of State Rex Tillerson flew to Ethiopia at the start of his first diplomatic trip to Africa on Wednesday, seeking to bolster security alliances on a continent increasingly turning to China for aid and trade.He was due to visit the African Union where many officials are still smarting f...Read More