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
* Minister needs to reassure investors over economic policy* Family ties raise questions over independence* Albayrak will brief thousands of investors, bankers on ThursdayBy Humeyra PamukISTANBUL, Aug 15 (Reuters) - Facing Turkey’s gravest currency crisis since 2001 in his first month in the job, Finance Minister Berat Albayrak has the daunting task of reassuring global investors that the ec...Read More
The price of base metals on the London Metal Exchange plummeted at the close of trading on Tuesday August 15, largely affected by sharp risk-off sentiment amid volatile currency flows.Falling furthest, zinc prices have dipped more than 6%, closing at their lowest point since October 2016 and down more than 30% since the start of the year, when prices were at $3,316 per tonne on January 2.Volumes t...Read More
WASHINGTON (Reuters) - U.S. industrial production edged higher in July, boosted by higher manufacturing output in a positive sign for economic growth.The Federal Reserve said on Wednesday industrial production rose 0.1 percent last month after an upwardly revised 1.0 percent increase in June.Economists polled by Reuters had forecast industrial production rising 0.3 percent last month after a previ...Read More
(Kitco News) - Gold and silver prices are solidly lower and trading at their daily lows inlate-morning price action Wednesday. Gold is at a 1.5-year low and silver at atwo-year low. A higher U.S. dollar index that hit a 14-month high overnight andsharply lower Nymex crude oil prices that hit a seven-week low below $65.00 abarrel are bearish "outside market" forces working to pressure the...Read More
WASHINGTON (Reuters) - The United States on Wednesday imposed sanctions on one individual and three entities, including firms based in Russia and China, under a North Korea-related sanctions program.In a statement on its website, the U.S. Treasury said it had sanctioned Russian-based Profinet Pte Ltd and its director general, China-based Dalian Sun Moon Star International Logistics Trading Co, and...Read More
LONDON (Reuters) - Britain’s inflation rate rose in July for the first time in 2018, keeping the squeeze on many households’ budgets, but there were signs that the pick-up was a blip and inflation might fall faster than the Bank of England thinks.Consumer price inflation rose at an annual rate of 2.5 percent in July after holding at 2.4 percent in the previous three months, matching ec...Read More
WASHINGTON (Reuters) - The United States on Wednesday imposed sanctions on a Russian port service agency and Chinese firms for aiding North Korean ships and selling alcohol and tobacco to Pyongyang in breach of U.S. sanctions aimed at pressuring North Korea to end its nuclear programs.In a statement, the U.S. Treasury said China-based Dalian Sun Moon Star International Logistics Trading Co. Ltd an...Read More
Nickel premiums in China trend higher on a wide London Metal Exchange contango, while the European nickel premium eased slightly on weak fundamentals and US premiums were unchanged....Read More
NEW YORK (Reuters) - The U.S. economy is growing at a 4.3 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday following the release of the July data on retail sales and industrial output.This was unchanged from the growth rate calculated by the regional Fed's forecast program on Aug. 9.The model raised its forecast on personal consu...Read More
Comex copper prices hit a fresh low during midweek trading on August 15 morning in the US, amid a general exit from the commodities sector due to a rising dollar and fears of a contagion from the Turkey crisis....Read More
(Kitco News) - Gold and silver prices downand hit new for-the-move lows in early U.S. trading-gold a nearly 1.5-year lowand silver a two-year low. A powerful rally in the U.S. dollar index remainsthe major bearish element punishing the precious metals markets. The USDX hit a14-month high overnight. December gold futures were last down $7.00 an ounce at$1,193.70. September Comex silver was last dow...Read More
(Reuters) - The three main U.S. stock indexes slid more than 1 percent on Wednesday in a broad decline over concerns about the strengthening dollar, Turkey’s currency crisis and United States’ trade relations with its partners.Nine of the 11 major S&P sectors were lower, with energy and metal and mining companies hit by rising commodity prices. While trade-sensitive companies such...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
In 2008, gold was taken from $1020 to $700 and silver was pounded from $21 to $7 during the period of time that Bear Stearns, Lehman and the U.S. financial system was collapsing. The precious metals were behaving inversely to what would have been expected as the global financial system melted down. Massive Central Bank intervention was at play.Currently the prices of gold and silver are be...Read More
Spot port manganese ore prices in China recovered last week due to positive market sentiment, further supported by spikes in ferro-alloys futures prices.Metal Bulletin's 37% manganese ore index cif Tianjin, rose by 0.6% week on week to $6.39 per dry metric tonne unit on Friday August 10. The index had been steadily falling over the previous three weeks from a July peak of $6.86 per dmtu on July 13...Read More
NEW YORK (Reuters) - The dollar climbed to its highest level in over 13 months against a basket of currencies on Wednesday as investors stepped up their safe-haven holdings of the greenback due to worries about slowing Chinese growth and Europe’s exposure to Turkey.The euro slid to its weakest level in over a year on anxiety about the exposure of the continent’s bank system to Turkey....Read More
WASHINGTON (Reuters) - U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.Other data on Wednesday showed manufacturing output rising steadily last month and worker productivity growing at its fastest pace in more than three years in the second quarter, though a drop in l...Read More
WASHINGTON (Reuters) - U.S. business inventories barely rose in June and the inventory-to-sales ratio fell to more than a 3-1/2-year low, suggesting businesses would need to ramp up the accumulation of stock, which would boost economic growth in the third quarter.The Commerce Department said on Wednesday that business inventories edged up 0.1 percent after a downwardly revised 0.3 percent increase...Read More
LONDON (Reuters) - European shares slipped into negative territory on Wednesday after a doubling by Turkey of tariffs on some U.S. imports soured sentiment and weak commodity prices impacted miners.Bearish Asian markets, a strengthening dollar and a surprise 2 percent fall in Chinese technology giant Tencent Holdings’ earnings (0700.HK) also weighed.“In a market highly sensitive to dow...Read More
The Wednesday Market Minute Global stocks slide, with Asia slumping on renewed China woes and Europe edging lower amid a weaker single currency and ongoing Turkish tensions.China shares fall 2%, deeper into bear market territory, as the yuan slides to a fresh 15-month low against the U.S. dollar.U.S. dollar index hits 14-month high of 96.90 amid safe-haven flows; benchmark 10-year Treasury...Read More