(Kitco News) - Gold prices largely ignored the data from the U.S. Labor Department showing that the initial weekly jobless claims rose to 215,000 in the week to Saturday. Market consensus called for initial claims to rise to 214,000 from the unrevised level of 210,000 reported in the previous week. The December Comex gold futures were not impacted by the data, largely keeping all early-morning gai...Read More
(Kitco News)- Gold did not move much after a Commerce Department report Thursdayshowing that U.S. September orders for durable goods rose by 0.8% to $262.1billion. December Comex gold futures were last at$1,234.90, up 0.31% on the day. Consensus expectations compiled by various news organizations hadcalled for durables to be down by somewhere between 1.5% and 1.9%. This increasefollowed a 4...Read More
(Kitco News) - Gold prices have given back moderate early gains in late-morningtrading Thursday, at the same time U.S. stock indexes are trading near theirdaily highs and are posting solid gains. However, there is a lot of the sessionleft to trade today and the stock indexes are likely to remain volatile. Look for gold to trade in an inverse relationship withthe stock indexes the rest of today, an...Read More
Konkola Copper Mines (KCM), Vedanta's Zambian copper operation, could cut its copper output by up to 150,000 tonnes next year due to rising procurement costs following a proposed import duty on copper concentrates, Fastmarkets has learned. KCM is looking to halve its Zambian primary smelting capacity- which now stands at 311,000 tonnes per year, a company source said on Wednesday October 24. To ga...Read More
OTTAWA (Reuters) - Senior officials from 12 countries gathered in Canada on Thursday for talks to find ways of reforming the World Trade Organization and to address U.S. grievances which are threatening the body’s future.The administration of U.S. President Donald Trump is blocking appointments of WTO judges and has threatened to pull out of a grouping designed to ensure a rules-bound global...Read More
WASHINGTON/NEW YORK (Reuters) - The two bombs sent to former Vice President Joe Biden and a third to actor Robert de Niro on Thursday were similar to the devices intended for several other high-profile Democrats and critics of U.S. President Donald Trump, authorities said.None of the 10 devices exploded but authorities stepped up a manhunt for the serial bomber amid a contentious campaign season a...Read More
WASHINGTON (Reuters) - Contracts to buy previously owned homes unexpectedly rose in September, a bright mark in the United States' struggling housing market although contracts on an annual basis have fallen for nine consecutive months.The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, rose 0.5 percent to a reading of 104.6. The...Read More
CloseGain/LossGold $1230.30-$2.30Silver$14.62-$0.05XAU64.72-4.86%HUI143.41-6.05%GDM529.19-4.34%JSE Gold1200.51-9.70USD96.63+0.26Euro113.75-0.23Yen89.02+0.02Oil$67.33+$0.5110-Year3.124%+0.020T-Bond138.65625-0.125Dow24984.55+1.63%Nasdaq7318.34+2.95%S&P2705.57+1.86% The Metals: Gold gained $6.50 to $1239.10 in Asia before it dropped back to $1230.40 at about 4AM EST and then bounced back to g...Read More
- Is Dublin's property market heading for a soft landing?- Increasing fears the latest housing boom could foreshadow another slump as reported in the Financial Times- 68 per cent of prime properties in Dublin 4 and 6 have cut prices- "I doubt it will be 'soft' ... My suspicion is that it'll hurt like hell..." warned Karl Deeter of Irish Mortgage BrokersExcerpt via FT:Over the past five year...Read More
Chinese cobalt sulfate trade log including business, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. In addition, cobalt sulfate, Co 20.5% min, China ex-works, adjustment to low-grade cobalt low-end price at Co 20.5% basis, $/Ib is showed in the bracket, at $ per lb basis. Fastmarkets MB prices Click here for Fastmarkets MB'...Read More
LONDON (Reuters) - When the U.S. Federal Reserve issued a statement of 250 words after raising interest rates last month, markets focused on just one: accommodative. And it wasn’t even mentioned.The omission of a word that had featured in Fed statements for years sent bond yields lower as investors interpreted it as a signal the Fed’s policy stance was no longer accommodative - so rate...Read More
Import prices for steel scrap in Turkey remained flat while rumors of bookings in the deep-sea market made by the country's steel producers were unconfirmed on Thursday October 25.Reports of two deep-sea cargo trades came to light but market participants were unable to confirm significant details.A steel mill in the Marmara region was reported to have booked a Baltic Sea cargo of...Read More
FRANKFURT (Reuters) - The European Central Bank kept policy unchanged as expected on Thursday, staying on course to claw back unprecedented stimulus even as the growth outlook continues to darken and political turmoil in Italy looms large over the currency bloc.Having exhausted much of its firepower with years of support, the ECB reaffirmed that its 2.6 trillion euro ($2.97 trillion) asset purchas...Read More
WASHINGTON (Reuters) - A body of U.S. state banking regulators on Thursday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and puts consumers and taxpayers at risk.The Conference of State Bank Supervisors (CSBS) said it had filed a complaint in the U.S. District Court for the District of Columb...Read More
Konkola Copper Mines (KCM), Vedanta's Zambian copper operation, could cut its copper output by up to 150,000 tonnes next year due to rising procurement costs following a proposed import duty on copper concentrates, Fastmarkets has learned. KCM is looking to halve its Zambian primary smelting capacity- which now stands at 311,000 tonnes per year, a company source said on Wednesday October 24. To ga...Read More
#4 Zone Manto: flat-lying sulphide mantos in carbonates. Source: Sun Metals Corp.Sun Metals Corp. [SUNM-TSXV] shares rallied Thursday after the company released impressive drill results from its Stardust project in northcentral British Columbia.The company announced that drilling into a new extension of the Canyon Creek Skarn zone at the Stardust project has returned the thickest and richest miner...Read More
(Kitco News) - Gold prices aremoderately higher in early U.S. trading Thursday, on more safe-haven buyingahead of an uncertain U.S. trading session following Wednesday’s pounding inthe U.S. stock market and steep losses in Asian shares overnight. December gold futures were last up $4.40 an ounce at $1,235.40. December Comex silver waslast up $0.089 at $14.76 an ounce. Globalstock markets wer...Read More
WASHINGTON/NEW YORK (Reuters) - Authorities discovered suspicious packages sent to former Vice President Joe Biden and actor Robert de Niro on Thursday, a day after several high-profile Democrats and critics of U.S. President Donald Trump were targeted with similar devices.None of the nine confirmed devices exploded but authorities stepped up their manhunt for the would-be serial bomber, with cruc...Read More
WASHINGTON (Reuters) - New orders for key U.S.-made capital goods fell for a second straight month in September and the goods trade deficit increased further amid rising imports, suggesting economic growth moderated in the third quarter.But the growth pace was probably solid, with other data on Thursday showing gains in both wholesale and retail inventories last month. The economy is being underpi...Read More
FRANKFURT, Oct 25 (Reuters) - European Central Bank President Mario Draghi said on Thursday that he was confident Italy and the European Commission would resolve their standoff over Rome’s budget plans for 2019.The European Commission rejected Italy’s draft 2019 budget this week, saying it brazenly broke EU rules on public spending, and asked Rome to submit a new one within three weeks...Read More