DAVOS, Switzerland, Jan 26 (Reuters) - Japan's central bank expects the economy to continue growing at a moderate pace and inflationary expectations are picking up slightly, Bank of Japan Governor Haruhiko Kuroda said on Friday. Speaking at the World Economic Forum in Davos, Kuroda also said the bank would continue supporting the economy with monetary easing. (Reporting by By Dmitry Zhdannikov an...Read More
Jan 26 (Reuters) - Stock futures pared gains on Friday after data showed U.S. economic growth unexpectedly slowed in the fourth quarter.Separately, President Donald Trump at Davos warned trading partners that Washington would no longer tolerate unfair trade.Dow e-minis were up 52 points, or 0.2 percent, with 33,013 contracts changing hands.S&P 500 e-minis were up 9.75 points, or 0.34 percent,...Read More
World's second largest mining company Rio Tinto (ASX, LON:RIO) has lifted force majeure on shipments of refined copper from its Kennecott unit in the U.S., 79 days after adopting the measure.The company halted production of refined copper at its smelter at the Utah-based mine on Oct. 8 after a worker was exposed to sulphur dioxide gases at the plant while removing debris from a boiler. The employe...Read More
World's second largest mining company Rio Tinto (ASX, LON:RIO) has lifted force majeure on shipments of refined copper from its Kennecott unit in the U.S., 79 days after adopting the measure.The company halted production of refined copper at its smelter at the Utah-based mine on Oct. 8 after a worker was exposed to sulphur dioxide gases at the plant while removing debris from a boiler. The employe...Read More
(Adds details, context)By Bruno FederowskiBRASILIA, Jan 26 (Reuters) - Brazil's current account deficit shrank in 2017 to a decade low, in a boost to the nation's recovery from the deepest recession in three decades.The current account deficit tightened nearly 60 percent from 2016 to $9.762 billion, central bank data showed on Friday, capped by a $4.327 billion December deficit. Economists polled...Read More
WASHINGTON, Jan 26 (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Friday he was not trying to talk down the dollar and his comments earlier this week were taken out of context, according to an interview with CNBC."I made the comment two days ago in a press gaggle in the morning. What I said was actually very even-handed and consistent with what I said before," Mnuchin told CNB...Read More
(Kitco News) - Gold and silver markets have seen some profit-taking pressure from the shorter-termfutures traders after solid gains scored earlier this week. The metals did notshow a big reaction to the just-released U.S. GDP report that was a miss to thedownside. February Comex gold futures were last down $11.80 an ounce at $1,351.40.March Comex silver was last down $0.22 at $17.395 an ounce.TheU...Read More
(Kitco News) - Gold and silver markets have seen some profit-taking pressure from the shorter-term futures traders after solid gains scored earlier this week. The metals did not show a big reaction to the just-released U.S. GDP report that was a miss to the downside. February Comex gold futures were last down $11.80 an ounce at $1,351.40. March Comex silver was last down $0.22 at $17.395 an ounce....Read More
(Kitco News) -Ordersfor durable goods in the U.S. rose in December for the fourth time in fivemonths, this time climbing by 2.9%, the Commerce Department reported Friday. Consensusexpectations compiled by various news organizations called for durables to beup by somewhere between 0.6% and 0.9%.Excludingtransportation, new orders increased 0.6%. Excluding defense, they were up2.2%. Transportation e...Read More
(Kitco News)- Gold prices, under pressure from renewed momentum in the U.S.,is relatively unchanged territory following weak-than-expected four-quartergross domestic product.Friday,the U.S. Commerce Department said that the first estimate showed that the U.S.economy grew by 2.6% in the last three months of 2017. According to consensusforecasts, economists were expecting to see growth of 3.0%. The...Read More
Swiss miner and commodities trader Glencore (LON:GLEN) has begun hiring for a number of new positions at its Lady Loretta zinc mine in Australia, which is slated to reopen in the first half of this year.Production at the Queensland-based operation was halted in 2015 because of falling zinc prices. Since then, the metal has more than doubled, so Glencore - the world's No.1 zinc producer - announce...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
A funny thing happened on the wayto new highs. On Thursday, gold looked like it was going to break out theupside and take out the highs on its way to $1,400. Suddenly without warning,the markets reversed and went from up $8 to down $14. This is known as a keyreversal, which is an indication that the top of this move is in.With the dollar crashing,equities going parabolic for some reason at 1:16 p....Read More
A funny thing happened on the way to new highs. On Thursday, gold looked like it was going to break out the upside and take out the highs on its way to $1,400. Suddenly without warning, the markets reversed and went from up $8 to down $14. This is known as a key reversal, which is an indication that the top of this move is in. With the dollar crashing, equities going parabolic for some reason at 1...Read More
Mining Capital's Alastair Ford gives his take on coal and currency wars, specifically his analysis on how coal mining companies Minergy (MIN:BT) and Anglo Pacific Goup PLC (APF:LSE) are faring.Ford says there is an increasing demand on coal, and believes Minergy will be one of the few coal companies listed on AIM with significant prospects.Ford says Anglo Pacific Group is benefiting from...Read More
* UBS Wealth Management upgrades 6-month forecasts* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 26 (Reuters) - The dollar fell more than half a percent against a basket of currencies on Friday as comments by senior U.S. officials this week backing a weak dollar reverberated through currency markets.After U.S. President Donald Trump said on Thursday he ultimately wanted the doll...Read More
* Premiums in China at about $7* Discounts in India down to $3 from $5 last week By Nithin ThomasPrasad and Rajendra JadhavBENGALURU/MUMBAI, Jan 26 (Reuters) - Demand for physical gold improved slightly in most Asian hubs this week, despite rising prices, as buyers stocked up on expectations of a further rally in the yellow metal. Gold prices rose on Friday, putting them on course for a near 2 pe...Read More
ALROSA, the world's largest diamond mining company, continues the contest "She said "YES!" for the most creative idea of a marriage proposal. The competition started in December 2017 and will last until February 14, 2018. The winner will receive a diamond ring as a reward to translate the idea into reality.Applications to the contest are accepted at a special email address: [email protected]. To...Read More
Gold regained some positive traction on Friday and managed to recover part of previous session's sharp corrective slide from 1-1/2 year tops. A smart US Dollar recovery move, after the US President Donald Trump backed a stronger greenback, prompted some aggressive selling around the dollar-denominated commodity on Thursday. Spot prices retreated around 1.75% from an intraday high level o...Read More