Bullion beats other major assets since the central bank hikedPrecious metal touched three-month high above $1,325 last weekRhodes Says Gold Had Solid Year in 2017Gold’s outperformed most major assets since the U.S Federal Reserve last month raised interest rates -- even bitcoin.Gold Medal for GoldMetal outperformed major assets since day before Fed raised ratesRead More
Stocks rose to new highs on Tuesday, Jan. 9, with the financial sector gaining amid optimism ahead of the start of corporate earnings season. The Dow Jones Industrial Average rose just over 100 points, or by 0.41%, and the S&P 500 rose 0.13%. The Nasdaq gained 0.09%. All three indexes scored fresh records. JPMorgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC) are schedule...Read More
Treasuries fall as dollar strengthens with crude oilEarnings reports set to dominate market focus this weekJonathan Golub of Credit Suisse and Deutsche Bank's Binky Chadha discuss the performance of financial stocks.U.S. stocks added to all-time highs before the start of earnings season, while the dollar got a boost from policy steps in Asia that propelled Treasury yields past 2.50 percent for the...Read More
Stocks rose further into record territory on Tuesday, Jan. 9, amid optimism ahead of the start of corporate earnings season. The Dow Jones Industrial Average gained 56 points, or 0.22%, and the S&P 500 rose 0.07%. The Nasdaq turned negative, falling 0.07% after scoring an intraday record, like the Dow and S&P 500, soon after markets opened on Tuesday. The leading sector Tuesday...Read More
The latest news and price moves to start the Asian day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 9, with only nickel trading in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Tuesday.Comex copper prices weakened during morning trading in the United Stat...Read More
JPMorgan & Chase Co. (JPM) CEO Jamie Dimon said Tuesday that he regretted calling bitcoin a "fraud" but insisted he was not interested in the subject even as the market capitalisation of the world's three biggest digital currencies tops that of his own investment bank. Dimon famously dismissed bitcoin the virtual currency concept a "fraud" and said he'd fire any of his traders for dealing in...Read More
(Adds more quotes from analysts, context on BOJ's policy)TOKYO/HONG KONG, Jan 9 (Reuters) - Speculation the Bank of Japan may wind back its monetary stimulus this year gripped markets on Tuesday after the central bank trimmed the amount of its purchases of Japanese government bonds. Traders appeared to latch on to the BOJ announcement that it will buy less of the long-dated bonds, sending the dol...Read More
European markets edged higher Tuesday, while U.S. equity futures suggested a modestly positive open on Wall Street as investors pared their appetite for global stocks ahead of the start of the corporate earnings season, a modest dollar rebound and rising Treasury bond yields. The Stoxx Europe 600 index added 0.28% in the opening minutes of trading to 399.53 points, testing two-and-a-half year hi...Read More
The latest news and price moves to start the Asian day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 9, with only nickel trading in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Tuesday.Comex copper prices weakened during morning trading in the United Stat...Read More
Bullion beats other major assets since the central bank hikedPrecious metal touched three-month high above $1,325 last weekRhodes Says Gold Had Solid Year in 2017Gold’s outperformed most major assets since the U.S Federal Reserve last month raised interest rates -- even bitcoin.Gold Medal for GoldMetal outperformed major assets since day before Fed raised ratesRead More
Say a quick prayer for GoPro (NASDAQ:GPRO) this morning.The world's premiere maker of go-anywhere cameras for skydivers, kayakers and other adventuring-types has entered a tailspin. The company just warned investors it’s slashing 250 jobs and ditching its drone business as it attempts to turn a profit this year.The former IPO darling's stock did not take the news well. Shares plummeted more...Read More
The latest news and price moves to start the Asian day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 9, with only nickel trading in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Tuesday.Comex copper prices weakened during morning trading in the United Stat...Read More
Most people have heard of the DRC, but might not know exactly where to find it on the map of Africa, even if the DRC is the second-largest country on the continent at 2 344 858km ?. Algeria is the largest country in Africa, covering close to 2 381 741km ? of North Africa. In stark contrast to Algeria, of which almost 90% is desert, the DRC straddles the equator, and more than 60% of its surfac...Read More
The rally in Gold and gold mining stocks easily surpassed our expectations and targets. The strength has been far more than we anticipated. The gold stocks blew past their 200-day moving averages while Gold blew past $1300/oz. Now it is time to take a technical look and focus on the key support and resistance targets.The strength of the rebound pushed the miners well beyond their 200-day moving av...Read More
Most people have heard of the DRC, but might not know exactly where to find it on the map of Africa, even if the DRC is the second-largest country on the continent at 2 344 858km ?. Algeria is the largest country in Africa, covering close to 2 381 741km ? of North Africa. In stark contrast to Algeria, of which almost 90% is desert, the DRC straddles the equator, and more than 60% of its surfac...Read More
The rally in Gold and gold mining stocks easily surpassed our expectations and targets. The strength has been far more than we anticipated. The gold stocks blew past their 200-day moving averages while Gold blew past $1300/oz. Now it is time to take a technical look and focus on the key support and resistance targets.The strength of the rebound pushed the miners well beyond their 200-day moving av...Read More
Cooperation on nuclear power technology is to be expanded between China General Nuclear (CGN) and the French Alternative Energies and Atomic Energy Commission (CEA) under an agreement signed yesterday in Beijing. New Areva and China National Nuclear Corporation (CNNC) have also agreed to work towards signing a contract for the construction of a used fuel processing and recycling facility in China....Read More
Nickel continued to rally on the London Metal Exchange during afternoon trading on Wednesday January 10, closing in positive territory alongside the rest of the metals.The three-month nickel price closed up 1.8% on Tuesday's close, having hit an intraday high of $13,200 per tonne earlier, thanks to a tighter market and robust demand from the stainless steel sector."We have a constructive view over...Read More
A wave of labor negotiations at several of the world's leading copper mines is taking place this year and could have a significant impact to the global copper supply and prices.Among such talks are BHP-operated Escondida mine, Antofagasta's Los Pelambres and several of Codelco's mines, all in...Read More
The London Metal Exchange closed 2017 in positive fashion as average daily volume (ADV) climbed 19.3% after two previous months of decline. Lead was the strongest performer, with ADV climbing over 50% from December 2016 with 55,717 lots. Last month, lead was the only base metal to record a significant year-on-year increase. Copper's ADV was up 24.3% from the previous year to 150,723 lots, after it...Read More