(Kitco News) - Gold’s reaction to geopolitical risks and heightened trade tensions has been a very timid one, but next week’s “dovish” rate hike by the Federal Reserve could finally help the yellow metal climb above $1,300, said TD Securities.“Should the Fed signal that it intends to stick to its game-plan, allowing inflation to somewhat overshoot its target, we suspe...Read More
Gold finished under moderate pressure today as U.S. equities moved higher. The NASDAQ composite closed at an all-time new record high today as the tech heavy index continued to react to the favorable jobs report on Friday.The U.S. dollar had been trading under pressure today, and although it closed lower at 94.02, it closed well off the intraday low today of 93.63. It has been dollar strength over...Read More
Gold finished under moderate pressure today as U.S. equities moved higher. The NASDAQ composite closed at an all-time new record high today as the tech heavy index continued to react to the favorable jobs report on Friday.The U.S. dollar had been trading under pressure today, and although it closed lower at 94.02, it closed well off the intraday low today of 93.63. It has been dollar strength over...Read More
Doina Chiacu, Caren BohanWASHINGTON (Reuters) - Groups backed by powerful Republican donors Charles and David Koch said on Monday they will champion free trade and oppose tariffs with a multimillion-dollar campaign that puts them on a collision course with President Donald Trump.The embrace of free trade principles by major Republican donors comes as Trump pursues aggressive measures against tradi...Read More
Contrarians continue to wait patiently for when gold-market sentiment will support a strong rally. Very patiently. That's because it's been more than a year since sentiment among gold market-timers was so pessimistic that a contrarian buy signal could even be considered. Since then, the gold-timing community has been quick to turn bullish at any sign of gold market strength and reluctant to turn b...Read More
Despite the fact that top coal producers are receiving the highest profits in six years from their coal mines, Rio Tinto (ASX, LON, NYSE: RIO) continues to work towards accomplishing its mission of completely divesting from its coal assets.In a media brief, the world's No.2 miner announced that it had completed the sale of its 75 percent interest in the Winchester South coal development project in...Read More
Multiple big-cap tech names hit new record highs todayThe Dow stayed red-hot to start the new week, with the blue-chip index gaining triple digits for the second straight session as tech heavyweights broke out. A fresh record high from Apple (AAPL) was in focus, as the FAANG stock enjoyed a boost amid the kickoff of its Worldwide Developer Conference. Fellow Dow component Microsoft (MSFT) also hit...Read More
WASHINGTON (Reuters) - The United States on Monday called on members of the Organization of American States (OAS) to suspend Venezuela from the group and ramp up pressure on President Nicolas Maduro’s government with new sanctions.Maduro won re-election in a May vote that the Venezuelan opposition, along with the United States and other Latin American nations, have decried as a sham cementin...Read More
NEW YORK (Reuters) - The dollar dropped to a two-week low on Monday, as easing political tensions in Italy lifted the euro and global trade concerns resurfaced after China warned the United States against tariffs and other protectionist measures.“With European political drama retreating from the brink, the peak in the dollar index was likely observed at 95,” said Mazen Issa, senior FX...Read More
NEW YORK (Reuters) - The dollar dropped to a two-week low on Monday, as easing political tensions in Italy lifted the euro and global trade concerns resurfaced after China warned the United States against tariffs and other protectionist measures.“With European political drama retreating from the brink, the peak in the dollar index was likely observed at 95,” said Mazen Issa, senior FX...Read More
Last week's other top-gaining mining stocks on the TSX were Tahoe Resources, Liberty Gold, Entree Resources and TMAC Resources.Read full newsRead More
British Prime Minister Theresa May told President Donald Trump on Monday that U.S. tariffs imposed on European Union steel and aluminium imports were "unjustified and deeply disappointing" during a phone call.The leaders spoke for the first time since the announcement in a 30-minute call and agreed to discuss the issue further at the G7 summit in Canada later this week.Trump has infuriated Europea...Read More
Ready for inflation?Just days after Treasury Secretary Steven Mnuchin reassured markets that a trade war between the U.S. and China was "on hold," the Trump administration announced that it would be moving forward with plans to impose 25 percent tariffs on as much as $50 billion worth of Chinese exports to the U.S. Beijing has already suggested that it will retaliate in kind.The White House also r...Read More
Ready for inflation?Just days after Treasury Secretary Steven Mnuchin reassured markets that a trade war between the U.S. and China was "on hold," the Trump administration announced that it would be moving forward with plans to impose 25 percent tariffs on as much as $50 billion worth of Chinese exports to the U.S. Beijing has already suggested that it will retaliate in kind.The White House also r...Read More
DCPH gapped to a record high earlier todayStocks are trading higher this afternoon, with blue chips Apple (AAPL) and Microsoft (MSFT) headlining the action by hitting fresh record highs. The drug sector is also making noteworthy moves today, as the American Society of Clinical Oncology (ASCO)'s annual conference continues, where companies have released updates on cancer treatments. Three other n...Read More
Oil prices are plunging ahead of an upcoming OPEC meetingOil prices plunged today, pressured by global supply concerns. July-dated crude futures closed down 1.6% at $64.75, and have now lost more than 4% since rumors first began circulating last week that the the Organization of the Petroleum Exporting Countries (OPEC) and Russia are considering lifting the cap on crude output. This negative pric...Read More
SAN JOSE (Reuters) - Apple Inc (AAPL.O) on Monday unveiled the latest version of its operating system for the iPhone and iPad, iOS 12, saying it would make older devices such as the iPhone 6 work better.At its annual developers conference in San Jose, Apple said that iOS 12 could carry out simple tasks, such as opening apps, up to twice as fast as its predecessor, iOS 11. The company said the oper...Read More
WASHINGTON (Reuters) - Preparations for a summit between U.S. President Donald Trump and North Korean leader Kim Jong Un are going well and the two are tentatively scheduled to meet at 9 a.m. Singapore time on June 12, the White House said on Monday.Reporting by Steve Holland; Writing by David Alexander Disclaimer: The views expressed in this article are those of the author and may not reflect th...Read More
(Reuters) - Apple (AAPL.O) and Microsoft (MSFT.O) led a rally in technology stocks on Monday, driving U.S. stocks higher, after the iPhone maker kicked off its annual developers conference and the Windows software maker snagged a popular coding website.Apple unveiled its latest operating system iOS 12 at the conference. Its stock gained as much as 1.7 percent, providing the biggest boost to S&...Read More
CARACAS (Reuters) - Venezuela's central bank in April paid $172 million to U.S. bank Citigroup (C.N) to recover part of the gold it had put up as guarantee in a swap operation, according to two sources familiar with the situation.Sanctions levied by U.S. President Donald Trump last year bar U.S. banks from carrying out financing operations with Venezuela, meaning such swaps cannot be renewed."...Read More