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
WASHINGTON (Reuters) - U.S. President Donald Trump’s administration set a goal on Thursday of creating a sixth branch of the U.S. military by 2020 known as the “Space Force” and said it would work to build bipartisan support in Congress for the plan.Critics view the creation of a Space Force as an unnecessary and expensive bureaucratic endeavor and scoff at comparisons to the fou...Read More
Andrew OsbornMOSCOW (Reuters) - Russia condemned a new round of U.S. sanctions as illegal on Thursday and said it had begun working on retaliatory measures after news of the curbs pushed the rouble to two-year lows over fears Moscow was locked in a spiral of never-ending sanctions.Moscow has been trying with mixed success to improve battered U.S.-Russia ties since Donald Trump won the White House...Read More
Molybdic oxide and ferro-molybdenum prices in Europe have dropped by about 3% so far in the week that began on Monday August 6, after strengthening to three-month peaks the week before, in line with domestic consumer demand....Read More
BySueChangMarkets reporterIStockphotoViewer discretion is advised. A lot has changed since the stock market crash of 2000. Apple Inc. has gone from being just another computer brand to becoming the most valuable company in the world, Amazon.com Inc. went from being an e-book retailer to a byword for online shopping and Tesla's Elon Musk has risen from obscurity to Twitter stardom. Yet some things...Read More
The electrification of vehicles and the need to store electricity generated by renewable energy sources - mainly solar and wind - point to huge demand for lithium-ion batteries.The automotive industry's use of lithium-ion batteries is on track to grow ninefold to 650 GWh by 2025 from around 70 GWh in 2017; the increase in energy storage, although from a lower base, will add to this.The use of lith...Read More
(Reuters) - The Nasdaq inched toward a record on the back of high-flying technology trio of Apple, Amazon and Microsoft, while gains in the Dow and the S&P 500 were limited as energy shares fell.The tech-heavy index .IXIC was up 0.31 percent at 7,913.03, barely 0.25 percent away from hitting an all-time high.The technology sector has been at the center of a sharp recovery in U.S. stocks sinc...Read More
NEW YORK (Reuters) - The U.S. economy is growing at a 4.3 percent annualized rate in the third quarter, following the latest data on producer prices and wholesale inventories, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.That was slightly slower than the 4.4 percent pace calculated by the regional Fed's forecast program on Aug. 3.The Atlanta Fed's GDPNow model pared its e...Read More
(Kitco News) - Gold pricesare modestly higher in early U.S. dealings Thursday. The yellow metal got aslight boost following a U.S. producer price index (PPI) report that came inlower than market expectations. December gold futures were last up $2.90 anounce at $1,223.80. September Comex silver was last up $0.068 at $15.495 anounce. U.S.producer prices in July were unchanged, versus pre-report expe...Read More
NEW YORK (Reuters) - Crude rose slightly Thursday but did not recover much of the previous session’s sharp loss, as the escalating China-U.S. trade dispute has cast doubt on the outlook for crude demand.Brent crude LCOc1 futures were up 12 cents at $72.40 a barrel by 11:20 EDT (1520 GMT) and U.S. crude futures CLc1 were up 1 cent at $66.95 a barrel.On Wednesday, Brent tumbled more than 3 per...Read More
BySueChangMarkets reporterIStockphotoViewer discretion is advised. A lot has changed since the stock market crash of 2000. Apple Inc. has gone from being just another computer brand to becoming the most valuable company in the world, Amazon.com Inc. went from being an e-book retailer to a byword for online shopping and Tesla's Elon Musk has risen from obscurity to Twitter stardom. Yet some things...Read More
NEW YORK (Reuters) - The dollar rose against most major currencies on Thursday in thin summer trading, as investors bet global trade tensions and a robust U.S. economy would continue to support the currency.The greenback has the upper hand in a trade war scenario over emerging markets, analysts said, and tariffs may actually narrow the U.S. trade deficit.Better-than-expected data on U.S. initial j...Read More
WASHINGTON (Reuters) - U.S. wholesale inventories were slightly higher in June than previously reported, with sales posting their biggest drop in five months.The Commerce Department said on Thursday wholesale inventories edged up 0.1 percent instead of being unchanged as it reported last month. Stocks at wholesalers rose 0.3 percent in May. They increased 5.1 percent year-on-year in June.The compo...Read More
Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting - and highly concerning - new angle: That they impose a “stealth mortgage” on homeowners. Here's how the Wall Street Journal reported it today:The Stealth Pension Mortgage on Your HouseMost cities, counties and states have committed taxpayers t...Read More
Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting - and highly concerning - new angle: That they impose a “stealth mortgage” on homeowners. Here's how the Wall Street Journal reported it today:The Stealth Pension Mortgage on Your HouseMost cities, counties and states have committed taxpayers t...Read More
Aben Resources (TSX-V:ABN) said its first drill hole at its Forrest Kerr project showed multiple high-grade zones including 62.4 g/t gold over 6.0m within 38.7 g/t gold over 10.0m.The junior was up 50 percent today to 30.5 cents."The high-grade gold and base metal values in the first hole of the 2018 drill program have far exceeded our expectations and confirm the presence of a robust and strong m...Read More
TORONTO (Reuters) - Canada’s dollar will rise over the coming year as the Bank of Canada hikes interest rates and higher oil prices become more supportive of the currency, a Reuters poll showed, but it will take a NAFTA trade pact deal to trigger more optimistic gains.The poll of more than 40 foreign exchange strategists predicted the Canadian dollar, which has been pressured this week by a...Read More
WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting that a strong economy was helping the labor market weather ongoing trade tensions between the United States and a host of other countries.Other data on Thursday showed a solid increase in underlying producer prices in July. Labor market strength and rising inflation likely keep t...Read More
SEOUL/BEIRUT (Reuters) - Iranian President Hassan Rouhani told North Korea’s foreign minister that the United States cannot be trusted, Tehran’s state media said, as the United States seeks a deal to rein in the North’s nuclear and missile programs.North Korea for its part denounced the United States for its “outdated acting script” in pressuring the North with contin...Read More
CloseGain/LossGold $1212.00-$1.50Silver$15.44+$0.02XAU74.46+0.09%HUI159.92-0.36%GDM577.95+0.04%JSE Gold1054.15-3.56USD95.60+0.50Euro115.30-0.85Yen90.28+0.22Oil$66.81-$0.1310-Year2.926%-0.037T-Bond143.4375+0.8125Dow25509.23-0.29%Nasdaq7891.78+0.04%S&P2853.58-0.14% The Metals: Gold dipped $2.60 to $1210.90 in Asia before it bounced back to $1217.20 in London and then dropped back lower in New...Read More
By Joe Ciolli - BusinessInsider.comCredit: ReutersLeuthold Group has sounded the alarm on a valuation metric that shows the S&P 500 is twice as expensive as it was at the peak of the tech bubble.This development could have large implications for stock investors of all types, particularly value traders who make their living by finding discounts in the market.With the stock market within shouting...Read More