via GoldinAmerica.com Chart: SPX red line:: gold is candle. You call that a dip?UPDATE: What happened today? Weren't we supposed to selloff on a strong CPI number? Dips may be harder to come by in this new regimeof fed indecisiveness.Up $5 may soon become the dip to buy..For now, look for $1350 to be an option related magnet. If it breaks free from that, $1400 shouldn't be a problem....Read More
Getty ImagesRising prices, or inflation, is giving Wall Street the jitters. And if that keeps up, Main Street is going to feet it, too. The numbers: The consumer-price index leaped 0.5% in January to mark the biggest increase in five months, adding to recent worries about rising inflation. The cost of rent, clothes, gasoline, health care and auto insurance all rose. Economists surveyed by Market...Read More
Gold has exploded on higher inflation data. Is thiscounter-intuitive? Higher inflation means a more aggressive Fed = higher rates= stronger dollar = lower gold prices, right? I think traders are perceivingthat Fed is in a box. President Trump, after lambasting the Dems, for theirbudget deficits has already in his first year put plans in place and on thetable that will increase the Federal deficit...Read More
Gold futures finished at the highest level in nearly three weeks after a hotter-than-expected headline inflation reading prompted investors to turn to the precious metal as a hedge against rising prices. April goldGCJ8, -0.29% surged, gaining $27.60, or 2.1%, to settle at $1,358 an ounce. The gold-backed exchange-traded fund SPDR Gold SharesGLD, +1.71% added 1.7%, while the VanEck Vectors Gold Min...Read More
* Strong U.S. inflation report followed by weak retail sales* Dollar surrenders gains, Wall Street swings higher* Other precious metals hit one-week highs* GRAPHIC-2018 asset returns: (New throughout, updates prices, market activity and comments, adds second byline, NEW YORK dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Feb 14 (Reuters) - Gold prices climbed nearly 2 percent on Wednes...Read More
(Kitco News) - Some market watchers are scratching their heads at thebig upside price moves in gold and silver markets Wednesday. What was the maindriving force for the strong prices gains? Was it the depreciation of the U.S. dollar index this week? Was it a re-examination of the U.S. consumer priceindex report that may not be as indicative of problematic inflation asinitially thought? Or, was it...Read More
(Recasts, includes comments by CEO and analysts)By P.J. Huffstutter and Karl PlumeCHICAGO, Feb 14 (Reuters) - Agricultural merchant Bunge Ltd reported a worse-than-expected loss for the fourth quarter on Wednesday, the latest in a string of poor results that has left the company's management fending off takeover bids from rivals.Several years of abundant grains supply on global markets have made...Read More
* LME/ShFE arb: (Recasts, updates with closing prices)By Peter HobsonLONDON, Feb 14 (Reuters) - Industrial metals prices rose on Wednesday, with nickel hitting its highest in two and a half years as a weaker dollar made metals cheaper for holders of other currencies. Stronger than expected inflation in the United States spurred buying of equities and hard assets including metals, which protect aga...Read More
(Kitco News) - Goldprices ended the U.S. day session sharply up and hit a two-week high Wednesday.A slumping U.S. dollar index this week and chart-based buying were featured.Buy stop order were triggered in the gold and silver futures markets whennear-term technical resistance levels were breached. April Comex gold futureswere last up $27.00 an ounce at $1,357.40. March Comex silver was last up $0...Read More
By Lewis Krauskopf and April JoynerNEW YORK, Feb 14 (Reuters) - So, were the stock market's fears about inflation ... inflated?U.S. stocks gained on Wednesday, shrugging off an initial sharp dip in premarket trading immediately after the release of U.S. government data that showed consumer prices rose more than expected in January. The Labor Department said its Consumer Price Index increased 0.5 p...Read More
U.S. retail sales unexpectedly fell in January, recording their biggest drop in nearly a year. Households cut back on purchases of motor vehicles and building materials. Published 11 Hours AgoUpdated10 Hours AgoReuters Lucas Jackson | ReutersA shopper looks at items on sale inside of a JC Penney store in New York.U.S. retail sales unexpectedly fell in January, recording their biggest drop in...Read More
* Dollar falls as stocks rebound from CPI news* U.S. core CPI posts largest gain in a year* Retail sales post largest decline in 11 months (Updates news, table, quotes and prices)By Kate DuguidNEW YORK, Feb 14 (Reuters) - The U.S. dollar fell on Wednesday, as equity markets rebounded quickly following a stronger-than-expected inflation data report.The announcement that the U.S. core Consumer Price...Read More
Feb 15 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,841.20 -14.70NZX 50**8,058.80 -63.420DJIA24,767.63127.18NIKKEI**21,154.17-90.51Nasdaq7,107.94194.43 FTSE**7,213.97 45.96S&P 500 2,687.47 24.53 Hang Seng** 30,515.6 676.07SPI 200 Fut 5,828.00 38.00 STI** 3,402.86 -12.21SSEC**3,199.4757014.51700KOSPI** 2,421.83 26.64--------------------------------------------------...Read More
(Adds quote on possibility of litigation over volatility notes)By John O'Donnell and Jennifer HughesFRANKFURT/HONG KONG, Feb 14 (Reuters) - A U.S. investigation into whether Credit Suisse hired referrals from government agencies in Asia in exchange for business poses another reputational hurdle for CEO Tidjane Thiam as the Swiss bank enters the final stretch of a three-year turnaround plan.Credit...Read More
Source: BloombergGold on Wednesday enjoyed its best trading day since June 24, 2016 when financial markets were shocked by Britain voting to leave the European Union.The most active gold futures contract on the Comex market in New York touched a high of $1,358.60 an ounce in midday trade, up more than 2% or nearly $30 an ounce compared to Tuesday's settlement after inflation data in the US came in...Read More
Bank stocks are widely higher today, as a hotter-than-expected inflation report fuels speculation about accelerated rate hikes from the Fed. However, if recent history is any indicator, several financial stocks could dip in the short term, including Bank of America Corp (NYSE:BAC) and Citigroup Inc (NYSE:C).BAC Stock Tends to Slip After Presidents DayBank of America stock was last seen 1.2% higher...Read More
Shares of Qorvo Inc (NASDAQ:QRVO) gapped more than 16% high on Feb. 1, after reports of an iPhone supply deal sparked a round of bullish analyst attention. QRVO stock topped out at at two-year high of $85.24 that day, but quickly pulled back to the $74-$75 region, home to its late-January highs. And while the equity has since been trading above support at its 10-day moving average, short-term loss...Read More
* European shares bounce back* STOXX 600 hits 4-day high* German growth seen extending into 2018* Strong earnings provide support (Recasts, adds details, closing prices)By Danilo Masoni and Julien PonthusMILAN, Feb 14 (Reuters) - European shares rose on Wednesday, quickly recovering from losses sparked by stronger-than-expected U.S. inflation data, as solid company and economic updates kept invest...Read More
(Adds auction result)LAGOS, Feb 14 (Reuters) - Nigeria has raised 176 billion naira ($576 million) worth of treasury bills at an auction on Wednesday, traders said.The central bank offered 6 billion naira of three-month paper, 30 billion naira of six-month bills and 140 billion naira of one-year notes. The bank issues treasury bills twice a month to help the government to finance its budget defic...Read More
By Benet KolekaTIRANA, Feb 14 (Reuters) - Albania's central bank said on Wednesday it wants to reduce the use of the euro in its financial system by 10 percent over the next three to five years to make the country's own monetary policy more effective.Governor Gent Sejko said now was a good time to act, and cited the problems faced in Poland and Hungary, where families and businesses borrowed heavi...Read More