(Kitco News)- Goldprices were largely unchanged seeing modest selling pressure followingstronger-than-expected preliminary data for the U.S. manufacturing and servicesectorTheflash U.S. manufacturing Purchasing Managers Index for October rose to areading of 55.9, up from September's reading of 55.6, research firm IHS Markitsaid in its latest report. Economists were expecting a modest decline to 55...Read More
South Korea continued to purchase heavy melting scrap this week on stable demand from a major steel mill.A 20,000-tonne cargo of HMS 1&2 (80:20) quality from New Zealand was transacted at $354 per tonne cfr South Korea this week, market sources said.Demand from South Korea has been regular in recent weeks, with South Korean steel mills entering the spot market again after bellwether Turkish import...Read More
Makini Brice, Gabriella BorterWASHINGTON/NEW YORK (Reuters) - Federal authorities are investigating suspicious packages sent to the White House, former U.S. President Barack Obama and former Democratic presidential candidate Hillary Clinton, the U.S. Secret Service and a person familiar with the matter said on Wednesday.A suspicious package addressed to the White House was intercepted at an off-si...Read More
NEW YORK (Reuters) - Ben Chico, 67, a Republican in California, says his annoyance with Democrats morphed into full-blown outrage when he heard they might try to impeach President Donald Trump after the Nov. 6 elections.Eden Stramer, 23, a North Dakota Democrat, says the possibility of abortions becoming illegal again leaves her fuming.And Pattie Blair, 74, a Democratic voter in Phoenix, says ange...Read More
Comex copper prices bounced-back Wednesday morning in the US amid falling inventories and signs of strong demand.The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.30 cents to $2.7610 per lb.LME copper stocks continue to trend lower because tighter spreads have attract limited inflows - stocks total 152,225 tonnes, down...Read More
WASHINGTON, Oct 24 (Reuters) - Sales of new U.S. single-family homes fell to a near two-year low in September and data for the prior three months was revised lower, the latest indications that rising mortgage rates and higher prices were undercutting the housing market.The Commerce Department said on Wednesday new home sales dropped 5.5 percent to a seasonally adjusted annual rate of 553,000 units...Read More
An example of the bonanza-grade gold at the Beta Hunt Mine in Australia. Source: RNC Minerals.RNC Minerals Corp. [RNX-TSX] on Wednesday said gold production at its Beta Hunt gold mine in Australia reached record levels in the third quarter of 2018.The company said production of 31,360 mine gold ounces in the quarter marked a 199% increase compared to the third quarter of 2017. That brought product...Read More
Antofagasta's copper production jumped by 15.4% in the July-September quarter, the company said on Wednesday October 24. The Chilean miner's copper production was 188,300 tonnes during July-September quarter, up by 15.4% from the April-June quarter. Copper output in the first nine months totaled 505,500 tonnes, down 4% from the corresponding period in 2017, mainly due to lower...Read More
(Reuters) - Global tech stocks have lost about $1 trillion or 9 percent of market value this month, Refinitiv data showed, hurt by worries over slowing global demand, valuations and trade tensions between the United States and China.The losses were also exacerbated by a rise in U.S. yields, which shot up to a near 7-1/2 year high this month and prompted investors to leave risky sectors and move in...Read More
The underlying theme remains unchanged with the base metals prices continuing to oscillate within sideways trends, although some prices, such as tin and zinc, are starting to edge higher. Sentiment in China has improved after Chinese officials have taken steps to ease credit tightness in the private sector by helping companies raise money in the capital markets.After a down day on Tuesday October...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday that threats of political violence have no place in the United States, promising a full investigation into suspicious packages that were mailed to prominent Democrats and others.“The full weight of our government is being deployed to conduct this investigation and bring those responsible for these despicable acts to justice...Read More
LONDON (Reuters) - British Prime Minister Theresa May received a show of support from her Conservative Party on Wednesday at a meeting in parliament, shifting the focus away from talk of an imminent leadership challenge over her Brexit strategy.May has angered both supporters of Brexit and pro-EU lawmakers since failing to clinch a deal at an EU summit last week by raising the possibility of exten...Read More
BRUSSELS (Reuters) - NATO’s top official on Wednesday blamed Russia for breaching a landmark nuclear arms pact that Washington is talking about quitting, but said he did not believe the Russian threat would lead to new deployments of U.S. missiles in Europe.The NATO allies are due to meet on Thursday to hear Washington explain the thinking behind President Donald Trump’s move to quit t...Read More
(Reuters) - President Donald Trump has said he plans to work with Congress to craft a U.S. response to the killing of prominent journalist Jamal Khashoggi at the Saudi consulate in Istanbul.“In terms of what we ultimately do, I’m going to leave it very much - in conjunction with me - up to Congress. And that means Congress, both Republicans and Democrats,” Trump said, adding that...Read More
The Chilean national economic development agency, Corfo, which owns the lithium-rich Salar de Atacama, has opened a dispute with United States-based lithium producer Albemarle to seek an interpretation by the International Chamber of Commerce (ICC) of a contract between the two.The contract between Corfo and Albemarle was signed in April 2017. It says that Albemarle would have to sell as much as 2...Read More
TORONTO - Canada's main stock index posted a triple-digit decline, led lower by the materials and financial sectors, while the loonie traded higher in the wake of an interest rate hike by the Bank of Canada.The S&P/TSX composite index was down 203.32 points at 15,081.85 in morning trading.In New York, the Dow Jones industrial average was down 123.52 points at 25,067.91. The S&P 500 index was down...Read More
BERLIN (Reuters) - Intensive discussions are underway in the German government on how to deal with arms exports to Saudi Arabia that have already been approved but not yet delivered, government spokesman Steffen Seibert said on Wednesday.Chancellor Angela Merkel vowed on Monday to halt all German arms exports to Saudi Arabia until the killing of journalist Jamal Khashoggi is cleared up.Asked wheth...Read More
MOSCOW (Reuters) - Italian Prime Minister Giuseppe Conte said on Wednesday that European Union sanctions against Russia had to come to an end, but declined to say if his government was ready to veto any further rollover of the economic curbs.“It is right to support economic relations between Italy and Russia,” Conte said during a press conference with Russian President Vladimir Putin....Read More
Crude oil got crushed yesterday.Just when you thought it was safe to look at WTI prices hitting a four-year high, the geopolitical monster in the Middle East reared its ugly head.And just when you thought the oil bulls were finally back in the driver's seat, the bears wrestled away control.Yeah, it's been that kind of October so far.The story behind the death of journalist Jamal Khashoggi seems to...Read More
When people think of energy investing, they first think of oil and the big dogs in the industry, like Exxon Mobil (NYSE: XOM) or BP (NYSE: BP). But what you may not know is that coal, though it may not be sexy, is one of the best energy investment vehicles in the world.Over the past 10 to 15 years, you could have made your fortune on lowly coal investments.For example, the blue-chip stock Peabody...Read More