* Dollar rises vs yen, franc, euro and Aussie * Greenback strength follows fed hawkish guidance * Sterling tumbles 1 pct on no-deal Brexit fears * Euro down 0.8 pct with Italy budget standoff in focus * Graphic: World FX rates in 2018 (Adds detail on Italy, updates prices)By Tom FinnLONDON, Nov 12 (Reuters) - The dollar rallied to a 16-monthhigh on Monday as investors positioned for a Federal Rese...Read More
* Brexit uncertainty hits pound, euro, buoys dollar * MSCI Asia Ex-Japan index down 0.5 pct * U.S. dollar hits new 16-month high * Weak China data, U.S. Fed rate hike expectations weigh * Oil prices surge on Saudi production cut plans(Updates prices, adds charts)By Sujata RaoLONDON, Nov 12 (Reuters) - The dollar surged to nearly17-month highs on Monday against a basket of major currencies asinvest...Read More
GOLD eyes additional price weakness towards 1,200.00 area in the new week. This is coming on the back of its past week losses. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targ...Read More
MOSCOW, Nov 12 (Reuters) - Russian gold and silver producerPolymetal has begun construction at its new Nezhdagold mine in eastern Siberia, which will contribute to itsdividends in 2022, it said on Monday.The London-listed firm, part-owned by businessman AlexanderNesis, is starting this new project with pre-production capitalexpenditures estimated at $234 million a few months after itlaunched its K...Read More
Gold fell sharply last week as the Fed reaffirmed policy tightening stance. The demand for gold call options (bullish bets) has dropped sharply in the last six days, adding credence to bearish technical setup. Gold (XAU/USD) is currently trading at $1,210, having dropped close to 2 percent last week. A major chunk of that drop happened on Friday - a day after the Fed reaffirmed its hawkish polic...Read More
PARIS, Nov 12 (Reuters) - Canadian Prime Minister JustinTrudeau said on Monday he had discussed U.S. steel and aluminiumtariffs with President Donald Trump over the weekend and that hehoped to reach a resolution on the matter by the G20 summit inArgentina."I absolutely brought up the issue of steel and aluminiumtariffs," Trudeau told a news conference in Paris on Monday.Trump and Trudeau...Read More
The Gold Shares ETF is struggling below a "death cross," but traders should buy weakness to my monthly and quarterly value levels of $111.60 and $110.26, respectively.The Commodities ETF suffered a correction of 13.7% since setting its 2018 high of $18.81 on Oct. 3.The Long Dollar ETF has been above a "golden cross" since May 31 and is approaching my risky level for November at $26.20.Here are the...Read More
LONDON, Nov 12 (Reuters) - Bank of England Deputy GovernorBen Broadbent said on Monday it looked likely that Britain'seconomy would slow somewhat in the fourth quarter, but that hecontinued to see signs of pay pressure building gradually."The signs are we'll have somewhat weaker growth in thefourth quarter," Broadbent said in an interview with CNBC.Broadbent said the BoE had seen signs o...Read More
Nov 12 (Reuters) - Foreign investors sold Asian equitiesheavily in October on concerns over slowing earnings, higherU.S. interest rates and trade tensions between the United Statesand China.Data from regional stock exchanges showed foreigners sold anet total of $14.54 billion in Taiwan, South Korea, India,Thailand, Philippines, Indonesia, and Vietnam equities in thelast month.The total was the hig...Read More
* Two growth initiatives will not deliver 20 mln euro targetrevenue in 2019 * To announce new growth initiative in spring * Euronext planning for a hard Brexit- CEO * Euronext still looking for deals- CEO (Adds CEO comments on financial targets, shares, details)By Noor Zainab Hussain and Huw JonesNov 12 (Reuters) - Euronext's acquisition of theIrish Stock Exchange and a higher number of companies...Read More
JOHANNESBURG, Nov 12 (Reuters) - South Africa's rand wasweaker on Monday, with yield-seeking investors continuing toback the dollar and move out of riskier emerging-market andequity assets dampened by signs of softening demand in China andrate tightening by the Federal Reserve. * At 0650 GMT, the rand was 0.56 percent weaker at14.4000 per dollar, buckling from a two-month best of 13.8700last week,...Read More
Gold is stationary in Asia on Monday as the markets consolidate with a US holiday to get through before key events such as US CPI will hit the slate. Gold has been suffering on higher US rates and the recent Fed comments which have been supporting the upside bias in the dollar. Gold has been underwater of late, falling from the early November highs at $1,243 and landing al the way down thr...Read More
CloseGain/LossGold $1201.50-$8.40Silver$14.01-$0.16XAU62.65-2.36%HUI140.33-2.15%GDM519.17-2.03%JSE Gold1096.10-2.01USD97.59+0.69Euro112.21-1.18Yen87.97-0.06Oil$59.93-$0.2610-Year3.184%-0.006T-Bond138.53125+0.625Dow25387.18-2.32%Nasdaq7200.87-2.78%S&P2726.22-1.97% The Metals: Gold fell $5.90 to $1204.00 in Asia before it rebounded in London, but it then fell to a new sessi...Read More
By Ira EpsteinDollar killer!https://www.iraepstein.com/ Read More
By Ed Steer10 November 2018 -- SaturdayYESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMThe gold price was sold quietly lower until around noon China Standard Time on their Friday. It crawled quietly higher from there until a few minutes after the London open -- and then it crawled equally quietly lower until the COMEX open. Then the spoofing and algo spinning began -- and the low tick of th...Read More
By Clint SiegnerGold and silver investors got a rare bit of good news on the enforcement front last week.A trader from JPMorgan Chase pled guilty to rigging the precious metals futures markets.John Edmonds admitted to cheating the bank's clients and plenty of other people naive enough to expect fair treatment on the COMEX and other exchanges.While this is by no means the first time a banker has...Read More
By Frank HolmesStrengthsThe best performing metal this week was palladium, down 0.17 percent as hedge funds boosted their net bullish position to an eight-month high. October was a stellar month for gold after several months of losses. Holdings in gold-backed ETFs rose globally by 16.5 tonnes as the yellow metal benefitted from flight-to-safety investment flows tracking global stock markets, wri...Read More
Here are two long-term charts illustrating the annual rate at which gold is extracted from the ground. The second of these charts shows why mine production can be ignored when trying to understand what happened to the gold price over the preceding few years or figure out what's likely to happen to the gold price over the next few years.The first chart shows the amount of gold produced by the glo...Read More
By Alasdair MacleodWe are getting ahead of ourselves here. Gold does not circulate as money - yet. It might never do so. Perhaps the end of government currency, fiat money imposed on us by government laws, may never be replaced by what for millennia has been the people's money, gold. Do we even wish it? Given what we have to do to get there, probably not.It is hard to think of a life without Nan...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12November 12, 2018 "The stock market is a device to transfer money from the impatient to the patient" Warren Buffett, American businessman, investor, philanthropist, the "Sage of Omaha", Chairman and CEO Berkshire Hathaway "Thousands of experts s...Read More