Gold futures settled at the lowest level of the year, just a day after finishing at a monthly high, as the benchmark U.S. dollar index briefly touched an 11-month peak, weighing on assets pegged to the monetary unit. "Looks like the hot money has thrown in the towel," said Adrian Ash, director of research at BullionVault. "Ironically that has caused the very spike in volatility they just gave up...Read More

The cartel will meet in Vienna in one weekIn one week, the Organization of the Petroleum Exporting Countries (OPEC) will convene in Vienna. The cartel's decision on oil productioncould determine the trajectory of crude prices, in the short term at least. Ahead of this big event, one energy stock is sending up a historical "sell" signal: Kinder Morgan Inc (NYSE:KMI). In fact, KMI stock is encroachi...Read More

   •  Fails to extract any support despite a combination of supportive factors.   •  Technical selling seems to be only factors behind the latest leg of steep decline.  Gold continued losing ground through the early North-American session and tumbled back closer to YTD lows in the last hour. The precious metal extended overnight pull-back from one-month...Read More

(Reuters) - U.S. stocks fell on Friday after the United States announced tariffs on $50 billion worth of Chinese goods, prompting Beijing to warn of retaliation and reigniting fears of a trade war between the world’s two largest economies.Also weighing on the indexes were oil prices, which tumbled more than 3 percent ahead of an OPEC meeting next week where two of the world’s biggest p...Read More

Gold weathered the Federal Reserve's 7th rate hike of this cycle this week. Gold-futures speculators and to a lesser extent gold investors have long feared Fed rate hikes, selling ahead of them. Higher rates are viewed as the nemesis of zero-yielding gold. But contrary to this popular belief, past Fed rate hikes have proven very bullish for gold. This latest hike once again leaves gold set...Read More

Consumer sentiment jumped in the beginning of June, moving opposite of expectations and heading back toward levels seen earlier this year. The index rose to its highest level since hitting 101.4 in March. The survey measures 500 consumers' attitudes on future economic prospects. Michael Sheetz| @thesheetztweetz Published 11 Hours AgoUpdated10 Hours AgoCNBC.com show chapters Consumer sentiment...Read More

By Scott Patterson Swiss mining giant Glencore PLC said it would resume multimillion-dollar payments to a former business partner sanctioned by the U.S. Treasury Department, resolving a thorny legal dispute that threatened to disrupt its operations. Glencore stopped paying royalties to Israeli billionaire Dan Gertler in December after sanctions were imposed for alleged corruption in the Democrat...Read More

(Reuters) - Shares in U.S. industrial and materials companies were under pressure on Friday on escalating trade tensions between the United States and China after President Donald Trump announced tariffs on China, which said it would fight back.Before the market opened Friday Trump announced that the United States will implement a 25 percent tariff on $50 billion of goods from China related to int...Read More

MILAN/LONDON (Reuters) - European shares sank on Friday as a tariff dispute between the United States and China escalated, triggering a sharp selloff in trade-sensitive commodities stocks.Thursday’s European Central Bank meeting had led investors to push back expectations for an interest rate increase, spurring a rally across European stocks.But on Friday U.S. President Donald Trump announce...Read More

(Reuters) - One of the Federal Reserve’s most influential policymakers raised concerns about White House policies on trade and immigration on Friday, as U.S. President Trump slapped new tariffs on China.“I am a little concerned that trade policy could evolve in a way that leads to higher trade barriers, and immigration policy could evolve in a way that leads to much less immigration in...Read More

WASHINGTON (Reuters) - President Donald Trump said on Friday he would not sign the more moderate of two bills under consideration in the U.S. House of Representatives that are meant to address the threat of deportation hanging over the United States’ “Dreamer” immigrants.“I’m looking at both of them. I certainly wouldn’t sign the more moderate one,” Trump...Read More

   •  Defies a modest USD weakness/sliding US bond yields and reviving safe-haven demand.   •  Technical selling below 100-hour SMA plays a key role in dragging the metal lower.  Gold extended overnight retracement slide from near one-month tops and continued weakening below the $1300 handle. The latest leg of sharp fall lacked any obvious trigger and c...Read More

By Jonathan StempelNEW YORK, June 15 (Reuters) - Citigroup Inc agreed to pay $100 million to settle charges by most U.S. states that it defrauded government and nonprofit entities by manipulating Libor, an interest rate benchmark that underlies a wide range of consumer transactions.The settlement with the third-largest U.S. bank was announced on Friday by New York State Attorney General Barbara Un...Read More

Also, the WSJ is reporting AAPL plans to use LCD screens in new iPhonesBenchmark weighed on on several Apple suppliers, initiating new "buy" recommendations on Skyworks Solutions Inc (NASDAQ:SWKS) and Qorvo Inc (NASDAQ:QRVO). This comes as The Wall Street Journal reports Apple (AAPL) is planning to use cheaper liquid-crystal displays (LCD) in its next generation of iPhones to cut the cost of the d...Read More

Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More

Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More

Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More

Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More

Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More

Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More