Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
NEW YORK, Jan 11 (Reuters) - Indirect bidders, including fund managers and foreign central banks, bought a record share of $12 billion of 30-year government bonds offered by the Treasury Department on Thursday, Treasury data showed.Their purchases, in percentage terms, at the latest 30-year bond auction made up 71.49 percent, resulting in a yield of 2.867 percent, the highest yield at a 30-year au...Read More
LONDON, Jan 11 (Reuters) - The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that might be used as the LNG market grows, the company said on Thursday.Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates,...Read More
Jan 11 (Reuters) - Data-sharing business Dropbox Inc has filed confidentially for a U.S. initial public offering led by Goldman Sachs Group Inc and JPMorgan Chase & Co , Bloomberg reported, citing people familiar with the matter.Dropbox is in talks with other banks to fill additional roles on the IPO and is aiming to be listed in the first half of 2018, the report said.The company, valued at a...Read More
By JanWolfeJan 11 (Reuters) - Tivo Corp has again accused cable operator Comcast Corp of using its patented interactive programming technology without authorization, the latest salvo in the companies' long-running royalty dispute.Tivo filed lawsuits in Boston and Los Angeles on Wednesday, saying Comcast's X1 video recording system infringed on patents describing functionality like pausing and resu...Read More
(Adds offer closing date, market value)LAGOS, Jan 11 (Reuters) - Flour Mills of Nigeria plans to start marketing a share sale to existing investors aimed at raising 39.86 billion naira ($130 million) on Jan. 15, the bourse said on Thursday, after granting approval.The flour and pasta maker will offer 1.47 billion shares at 27 naira apiece, an 18.2 percent discount to Thursday's market price of 33...Read More
(Refiles Jan 10 story to say in paragraph 9 that Tradeweb is majority-owned by Thomson Reuters, not owned by Thomson Reuters)By Abhinav RamnarayanLONDON, Jan 10 (Reuters) - Bonds and interest rate swaps trading on Tradeweb's multi-dealer platform have surged in early January as investors flock to electronic platforms to meet new, stricter regulations.In the first five days of trading under the se...Read More
Diamond trading steady after positive US retail season. Signet disappoints again as Nov.-Dec. sales -3% to $1.9B due to glitches in outsourced credit program, lower sales of Ever Us line, and less effective promotions. Department stores rebound, with Macy's and J.C. Penney seeing jewelry growth. Richemont jewelry maisons' 3Q sales +5% to $2.2B. Rising expectations for Chinese New Year (Feb. 16) af...Read More
Botswana's Okavango Diamond Company (ODC) posted a 4 percent jump in sales to $567 million in 2017, the highest annual sales since its formation in 2013, the company said on Thursday.The state-owned company sold 3.41 carats of diamonds in 2017, managing director Marcus ter Haar told Reuters, adding that the year was characterised by healthy demand and prices in the first half, weakening from July...Read More
Russian miner Alrosa (MCX:ALRS), the world's top diamond producer by output, saw 2017 sales fall to $4.3 billion, from $4.5 billion in the previous year, as the average price of its rough rocks declined.Alrosa's vice president Yury Okoemov said that despite the dip last year was a good one for the company with demand being fairly stable, and market activity in line with the seasonality and the fi...Read More
JOHANNESBURG (miningweekly.com) – Generations of diamond processing experience, interwoven with modern know-how, is extending the diamond endowment of the city of Kimberley.Kimberley Ekapa Mining Joint Venture (KEM-JV) has come up with a viable business model that returns a diamond sparkle to the city renowned for its 19th-century diamond mines and hand-dug Big Hole.AdvertisementThe historic...Read More
* U.S. crude jumps above $64/barrel, tagging along energy stocks* Xerox rises on deal talks with Japan's Fujifilm* U.S. producer prices dip 0.1 pct in Dec. vs est. of 0.2 pct rise* Indexes up: Dow 0.41 pct, S&P 0.30 pct, Nasdaq 0.31 pct (Changes comment, updates price, adds details)By Sruthi ShankarJan 11 (Reuters) - U.S. stocks rose on Thursday as a jump in oil prices lifted energy stocks to...Read More
(IDEX Online) - Shmuel Schnitzer has stepped down as Chairman of the Israel Diamond Institute after less than two years in the post. The IDI's Board of Directors has stated its appreciation for his years of service as Chairman of IDI and as a leader of the diamond industry. The IDI Board released a statement saying, "The Board of Directors of the Israel Diamond Institute would...Read More
MOSCOW, Jan 10 (Reuters) - The Russian Federal Anti-Monopoly Service (FAS) said on Wednesday it is investigating the forthcoming sale of natural gas assets by Russian diamond producer Alrosa after a complaint from would-be buyer, energy giant Rosneft.Russia's largest oil producer Rosneft, run by a close ally of President Vladimir Putin, has said it was not satisfied with some terms of the sale and...Read More
LAGOS, Jan 11 (Reuters) - Flour Mills of Nigeria plans to start marketing a share sale to existing investors aimed at raising 39.86 billion naira ($130 million) on Jan. 15, the bourse said on Thursday, after granting approval.The flour manufacturer will offer 1.47 billion ordinary shares at 27 naira apiece, a 18.2 percent discount to Thursday's market price of 33 naira. It will offer nine new shar...Read More
(IDEX Online) - Robbers stole an estimated $5.4 million of jewelry and other goods from a boutique in the Ritz Hotel in Paris on Wednesday. Although police managed to arrest three suspects in central Paris, but at least two others got away, a police official told the media. A police official said Thursday that one perpetrator dropped a bag with jewels and hatchets when his motorcycle...Read More
RAPAPORT... Businessman Kevin O'Leary has sound advice for people who are about to get married: Don't get into debt. So far, so sensible. Except he is also recommending they skip the engagement ring, blaming our industry in the process as the "people trying to figure out how to extract money from you." In an interview with CNBC Make It, he singles out the wedding ring retailers who, in his op...Read More
Comex copper prices inched higher Thursday January 11 morning in the US due to a weaker dollar in an overall shallow market.Copper for March settlement on the Comex division of the New York Mercantile Exchange increased 0.55 cents or 0.2% to $3.2410 per lb. The dollar has softened gradually since mid-December and was recently trading at a one-week low of 91.94 on the...Read More
By Sujata RaoLONDON, Jan 11 (Reuters) - Concerns that Japan could exit stimulus sooner than expected have jolted world markets this week, including emerging economies where a stronger yen could persuade Japanese funds to dial back their slowly rising overseas allocations.The yen's surge after the Bank of Japan reduced its bond purchases on Monday lifted global bond yields and hit emerging currenci...Read More
(IDEX Online) - Russian mining giant ALROSA sold $4.17 billion of rough diamonds last year. "In 2017, rough diamond demand was fairly stable, market activity was in line with the seasonality and our expectations," said ALROSA Vice President Yury Okoemov. "The average price of rough diamonds sold by ALROSA was a little lower than a year ago, which is due to the changed sales assortme...Read More
RAPAPORT... Shmuel Shnitzer has left his post as chairman of the IsraelDiamond Institute (IDI). The IDI board appointed Boaz Moldawsky acting chairman,the institute announced Thursday. Shnitzer (pictured) has served in numerous industry positions over the past 30 years, including as president of the Israel Diamond Exchange (IDE) and cofounder of the WorldDiamond Council. He began his term as...Read More