Recent News

"Ample time" before next Bank of England rate move needed-Tenreyro

January 15, 2018 / www.kitco.com

LONDON, Jan 15 (Reuters) - The Bank of England probably has "ample time" before it needs to consider raising interest rates again after its first rate hike in more than a decade in November, BoE policymaker Silvana Tenreyro said on Monday.Tenreyro said in a speech that she felt comfortable at last month's rate-setting meeting to keep on monitoring the impact of the 25 basis-point increas...Read More

Metals power higher as sickly dollar spurs copper-to-gold rally

January 15, 2018 / www.mining.com

(Bloomberg) - Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar, dwindling inventories and continued robust outlook for demand. Palladium rallied to a new record as all precious metals climbed.Copper surged as much as 2.1 percent, the most since Nov. 13, to $7,262 a metric ton on the London Metal Exchange. Al...Read More

Metals power higher as sickly dollar spurs copper-to-gold rally

January 15, 2018 / www.mining.com

(Bloomberg) - Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar, dwindling inventories and continued robust outlook for demand. Palladium rallied to a new record as all precious metals climbed.Copper surged as much as 2.1 percent, the most since Nov. 13, to $7,262 a metric ton on the London Metal Exchange. Al...Read More

Argentina to allow short-selling in capital markets

January 15, 2018 / www.kitco.com

BUENOS AIRES, Jan 15 (Reuters) - Argentina will allow short-selling in its capital markets, according to a resolution published by the securities regulator in the country's official gazette on Monday, part of PresidentMauricio Macri's efforts to open the country to investment."Short-selling, in normal market conditions, plays an important role in ensuring financial markets function correctly,...Read More

Japanese Purchases Of US #Treasurys Tumble | Zero Hedge

January 15, 2018 / www.zerohedge.com

Japanese investors' net purchases of foreign bonds nosedived 94.6% on the year to 1.1 trillion yen ($9.9 billion) in 2017, the Finance Ministry reported on Friday, the first annual decline in four years.Read full newsRead More

Brazilian digital bank Inter hires banks for IPO -source

January 15, 2018 / www.kitco.com

SAO PAULO, Jan 15 (Reuters) - Brazilian digital bank Intermedium SA has hired banks for an initial public offering that should take place in the second quarter of the year, one source with knowledge of the matter said on Monday.Intermedium, known as Inter, hired the investment banking units of Banco Bradesco SA SA>, Morgan Stanley , Citigroup Inc and Banco do Brasil SA as advisers in the transa...Read More

Glencore shrinks job of billionaire copper head amid Congo probe

January 15, 2018 / www.mining.com

(Bloomberg) - Glencore Plc reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management.Mistakidis, one of Glencore's largest shareholders and a key lieutenant of Chief Executive Officer Ivan Glasenberg for more than a decade, will lose control of industrial...Read More

Nigeria's central bank injects $210 mln into currency market

January 15, 2018 / www.kitco.com

LAGOS, Jan 15 (Reuters) - Nigeria's central bank said on Monday that it had injected $210 million into the interbank foreign exchange market as part of its attempt to boost liquidity and alleviate dollar shortages.The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses, and $55 million for certain dollar expenses such as school...Read More

Is The U.S. Dollar Weakness Short-Lived? Analysts Weigh In

January 15, 2018 / www.kitco.com

(Kitco News) - The U.S. Dollar Index plunged to three-year lows Monday, giving a boost to the precious metals sector, but some analysts warn that the weakness could be short-lived.The Dollar Index was last at 90.43, down 0.52% on the day, marking the weakest level since January 2015, according to Kitco.com.Analysts are keeping a close eye on the possibility of the U.S. government shutdown this wee...Read More

Is The U.S. Dollar Weakness Short-Lived? Analysts Weigh In

January 15, 2018 / www.kitco.com

(Kitco News) - The U.S. Dollar Index plunged to three-year lows Monday, giving a boost to the precious metals sector, but some analysts warn that the weakness could be short-lived.The Dollar Index was last at 90.43, down 0.52% on the day, marking the weakest level since January 2015, according to Kitco.com.Analysts are keeping a close eye on the possibility of the U.S. government shutdown this wee...Read More

Investors left in the lurch as Carillion goes into liquidation

January 15, 2018 / www.proactiveinvestors.co.uk

ETX Capital's senior market analyst Neil Wilson gives his view on the collapse of Carillion PLC (LON:CLLN).The construction company confirmed its collapse today after the failure of talks with key financial and other stakeholders, including the UK government over the course of the weekend and has taken steps to enter into compulsory liquidation with immediate effect.  Meet Netscientific PLC,...Read More

Acacia Mining's Q4 output down on Tanzania export ban

January 15, 2018 / www.mining.com

JOHANNESBURG, Jan 15 (Reuters) - Acacia Mining said on Monday said fourth-quarter production fell by a third on the previous year due to a ban on exports of gold and copper concentrates in Tanzania.The London-listed miner said production in the three months to December fell 30 percent to 148,477 ounces compared with a year ago and 22 percent from the previous quarter. This brought 2017 gold to 767...Read More

Acacia Mining's Q4 output down on Tanzania export ban

January 15, 2018 / www.mining.com

JOHANNESBURG, Jan 15 (Reuters) - Acacia Mining said on Monday said fourth-quarter production fell by a third on the previous year due to a ban on exports of gold and copper concentrates in Tanzania.The London-listed miner said production in the three months to December fell 30 percent to 148,477 ounces compared with a year ago and 22 percent from the previous quarter. This brought 2017 gold to 767...Read More

UPDATE 1-Israel 2017 inflation 0.4 pct vs -0.2 pct in 2016

January 15, 2018 / www.kitco.com

(Adds data, comments, table)JERUSALEM, Jan 15 (Reuters) - Israel's year-on-year inflation rate rose for the fourth straight month in December, to 0.4 percent, data from the Central Bureau of Statistics showed on Monday.The consumer price index had risen 0.3 percent increase in November. Analysts polled by Reuters had predicted the same rise for December.Inflation for 2017 as a whole was also 0.4 p...Read More

Zimbabwe December inflation quickens to 3.46 percent y/y - Zimstats

January 15, 2018 / www.kitco.com

HARARE, Jan 15 (Reuters) - Zimbabwe's consumer price inflation quickened to 3.46 percent year-on-year in December from 2.97 percent in November, data from the national statistics agency showed on Monday.On a month-on-month basis, prices rose by 0.53 percent in December after rising 0.74 percent previously, Zimstats said. (Reporting by MacDonald Dzirutwe; Editing by Alison Williams) Disclaimer: Th...Read More

Sudanese pound weakens on black market amid dollar shortage

January 15, 2018 / www.kitco.com

KHARTOUM, Jan 15 (Reuters) - The Sudanese pound weakened on the black market on Monday amid a foreign currency shortage that has crippled the economy as Khartoum pursues reforms aimed at boosting growth. The pound traded at 34 to the U.S. dollar on Monday, down from about 30 last week, traders said. Sudan devalued its currency to 18 pounds per U.S. dollar from 6.7 previously earlier this month, ho...Read More

Israel 2017 inflation 0.4 pct vs -0.2 pct in 2016

January 15, 2018 / www.kitco.com

JERUSALEM, Jan 15 (Reuters) - Israel's year-on-year inflation rate rose for the fourth straight month in December, data from the Central Bureau of Statistics showed on Monday.The consumer price index showed prices gained 0.4 percent from a year earlier versus a 0.3 percent increase in November. Analysts polled by Reuters had predicted a 0.3 percent rise.Inflation for 2017 as a whole was also 0.4 p...Read More

Carillion collapse hits banks and investors, boosts short sellers

January 15, 2018 / www.kitco.com

By Emma Rumney, Ben Martin and Alasdair PalLONDON, Jan 15 (Reuters) - Leading British lenders including Barclays , the Royal Bank of Scotland and Lloyds Banking Group face the prospect of hundreds of millions of pounds in outstanding loans going unpaid from Carillion's collapse on Monday. Along with 10 other banks, they arranged a 790 million pound($1.1 billion) revolving credit facility for Caril...Read More

Gold Prices Have Room To Run; Watch $1,357 - Saxo Bank

January 15, 2018 / www.kitco.com

(Kitco News)- The gold market is taking full advantage of a quietholiday Monday by pushing to key resistance levels as the U.S. Dollar indexdrops to its lowest level in three years.While American equity markets are closed for MartinLuther King Jr. Day, futures continue to trade through electronic platforms.February gold futures were last at $1.341.30 an ounce, up 0.48% on the day, whichis slightly...Read More

Euro briefly rises, German yields up after ECB's Hansson's comments

January 15, 2018 / www.kitco.com

LONDON, Jan 15 (Reuters) - The euro briefly extended gains and German benchmark bond yields hit the day's high after European Central Bank rate-setter Ardo Hansson said the central bank could end its bond purchase scheme in one go after September if the economy and inflation develop as expected.Minutes of the ECB's December meeting published on Thursday suggested growing appetite for revising the...Read More

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