WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan said on Tuesday that it was not possible to end birthright citizenship with an executive order, after President Donald Trump said he was considering such a move, the Washington Post reported.“You cannot end birthright citizenship with an executive order,” Ryan, the top Republican in Congress, said in an interview with radio station WV...Read More
Comex copper prices tumbled to a mid-September low on October 30 morning in the US amid rising bearish sentiment in the equity market, a rising dollar and ongoing worries regarding the trade war between the US and China.The copper price for December settlement on the Comex division of the New York Mercantile Exchange tumbled 5.70 cents to $2.6835 per lb. Earlier in intraday trading, the contract h...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comOct 30, 2018 The US stock market continues to gyrate wildly with many key Dow stocks staging truly horrific meltdowns.This market is beginning to look eerily like the bear market that started in 1929.Instead of buying stocks as the business cycle troughed as Barrack Obama was elected, man...Read More
(Reuters) - A bounce back in trade-sensitive chipmakers pushed U.S. stocks higher on Tuesday, after Washington cut off a Chinese semiconductor maker from its U.S. suppliers.The Commerce Department slapped the restriction on Fujian Jinhua Integrated Circuit Co Ltd amid allegations the firm stole intellectual property from Micron Technology Inc and on concerns the firm could flood the market with ch...Read More
Vanadium prices in Europe and the United States continued their upward run in the week ended Friday October 26, amid constrained supply, while Chinese export activity fell dormant with prices remaining at a premium to the global markets. Chinese export price stabilizes on weak buying interest amid premium offer prices EU FeV prices firm despite limited activity EU V2O5 prices strengthen on renewed...Read More
LONDON (Reuters) - A no-deal Brexit would be likely to tip Britain into a recession as long as the downturn that followed the global financial crisis, and investors should no longer ignore this danger, credit ratings agency Standard & Poor's said on Tuesday.FILE PHOTO: A man tries on a Union Jack-themed jacket at a souvenir stall in London, Aug 22, 2018. REUTERS/Peter Nicholls/File PhotoTalks on B...Read More
Lower November ferro-chrome tender prices from major stainless steel mills caused ore and alloy markets to stall or weaken in the regions Fastmarkets follows in the week ended Friday October 26. UG2 chrome ore prices stall, Turkish lumpy chrome ore prices dropChinese domestic spot ferro-chrome prices pauseCharge chrome import prices weakenAlloy prices hold in Japan, South KoreaAlloy prices weaken...Read More
I think we can all agree, it was an interesting week last week in the stock market, to say the least. For the week, the Dow was down 2.9%, the SPX was down 3.9% and the Nasdaq was down 3.8%. All three indices closed below their 200 dma. It can be argued that, on a short-term basis, the stock market is "oversold" using the MACD as an indicator. However, it appears that hedge fund algos are being r...Read More
(Kitco News) - Gold prices areagain modestly down in early U.S. trading Tuesday. A stronger U.S. dollar indexthat scored a new for-the-move high overnight is weighing on the preciousmetals markets today. Higher U.S. stock indexes to start the trading day arealso a negative for the safe-haven gold and silver markets. December goldfutures were last down $3.40 an ounce at $1,224.20. December Comex si...Read More
* Aluminium touches lowest since August 2017 * Lead weakens after inventories rise * LME copper stocks reach lowest since July 2008 * Nickel steady after previous session's 10-month low (Adds closing prices, zinc spread)By Eric OnstadLONDON, Oct 30 (Reuters) - Aluminium slumped to its lowestin more than a year, with other base metals also falling onTuesday, on fresh concerns that a U.S.-China trad...Read More
Vanadium prices in Europe and the United States continued their upward run in the week ended Friday October 26, amid constrained supply, while Chinese export activity fell dormant with prices remaining at a premium to the global markets. Chinese export price stabilizes on weak buying interest amid premium offer prices EU FeV prices firm despite limited activity EU V2O5 prices strengthen on renewed...Read More
WASHINGTON (Reuters) - President Donald Trump said he will seek to limit the right of citizenship for certain children born in the United States in a new bid to dramatically reshape immigration policies that appeared to run afoul of the U.S. Constitution.Seeking to shore up support for Republicans ahead of the congressional elections next week, Trump told the Axios news website he would try to end...Read More
Lower November ferro-chrome tender prices from major stainless steel mills caused ore and alloy markets to stall or weaken in the regions Fastmarkets follows in the week ended Friday October 26. UG2 chrome ore prices stall, Turkish lumpy chrome ore prices dropChinese domestic spot ferro-chrome prices pauseCharge chrome import prices weakenAlloy prices hold in Japan, South KoreaAlloy prices weaken...Read More
(Reuters) - For months, Republican U.S. Representative Steve Chabot was running about even with Democratic opponent Aftab Pureval in his traditionally conservative southwest Ohio district.But as the Nov. 6 elections approach, the contest has begun breaking in Chabot’s favor, one of about half a dozen races in conservative-leaning districts where improving Republican odds are stoking speculat...Read More
Nyrstar profits slumped by 73% year on year in the third quarter as a result of lower metal prices which affected the company's bottom line. Nyrstar, Europe's biggest zinc smelting company by volume, saw group profits come in at ?,?13 million ($14.79 million) in the September quarter, against ?,?51 million in the third quarter of 2017. Lower realized prices for zinc, which were 22% below the year'...Read More
Published 22 Hours AgoUpdated5 Hours AgoReuters Gold prices fell on Tuesday as concerns about a further escalation in the U.S.-China trade war boosted the U.S. dollar, eroding bullion's appeal as it tested key technical support.Spot gold was down 0.47 percent to $1,223.61 per ounce, having touched $1,219.37, its lowest since Oct. 18. U.S. gold futures settled at $1,225.30 an ounce.The dollar climb...Read More
NEW YORK, Oct 30 (Reuters) - Yields on U.S. Treasury bonds rose modestly on Tuesday as equities recovered from Monday’s sell-off after President Donald Trump said he believed “a great deal” on trade can be struck with China, but warned new tariffs were ready if talks fail.Treasury prices fell as risk appetite increased, with U.S. stocks up slightly in mid-morning after a mixed op...Read More
CloseGain/LossGold $1223.60-$5.50Silver$14.48+$0.03XAU65.44+1.14%HUI145.23+0.84%GDM532.62+0.49%JSE Gold1170.50+4.49USD96.99+0.38Euro113.45-0.40Yen88.65-0.41Oil$66.18-$0.8610-Year3.119%+0.031T-Bond138.84375-0.50Dow24874.64+1.77%Nasdaq7161.65+1.58%S&P2682.63+1.57% The Metals: Gold dropped $9.10 to $1220.00 in London before it chopped back higher in early New York trade, but it still ended wi...Read More
India has done a bilateral forex swap agreement with Japan and China separately. China has done a forex swap agreement with Japan. Forex swap agreement between large nations like India, China and Japan will result in more and more nations copying them. Net result is a decline in the US dollar share in global trade and a decline in the purchasing power of the US dollar. Gold will be a medium of s...Read More
Gold was once again rejected atthe $1,240 level, as it tried to break above Wednesday and Thursday only tofail. Gold now looks like it's headed back to the $1,220 support level, whichis consistent with the consolidation pattern that it has been trading in forthe past three weeks.The action, although frustrating,is congestion and often looks to be only a resting spot before gold breaks outto the ne...Read More