LONDON (Reuters) - Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.Benchmark Brent crude LCOc1 fell below $70 a barrel for the first time since early April, down more than 18 percent since reaching four-year highs at the beginning of October.Brent dropped $1.52 to a low of $69...Read More
LONDON (Reuters) - Britain’s economy picked up pace during the third quarter, growing at the fastest rate since late 2016, but this may prove a high watermark ahead of Brexit, official figures showed on Friday.Gross domestic product in the three months to September was 0.6 percent higher than in the previous quarter, matching the consensus forecast in a Reuters poll of economists, figures fr...Read More
MEXICO CITY (Reuters) - Cabinet ministers from the United States, Mexico and Canada will sign a new trade agreement on Nov. 30, Mexico’s economy minister said on Thursday.The deal will be signed in Buenos Aires, Argentina, the Mexican Economy Minister Ildefonso Guajardo told reporters at an event in Mexico City. Argentina is hosting the G20 international forum for governments and central ban...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
* Italy/Germany bond gap returns to above 300 bps* Bank of Italy says Italy/Germany spread must be reduced* German Bund yields fall from 2-week highs* US 2, 5-year bond yields hit decade highs after Fed meeting* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Recasts to focus on Italy, adds quotes)By Dhara Ranasinghe and Virginia FurnessLONDON, Nov 9 (Reuters) - Italy’s bond yields...Read More
(Reuters) - A federal judge in Montana halted construction of the Keystone XL oil pipeline on Thursday on the grounds that the U.S. government did not complete a full analysis of the environmental impact of the TransCanada Corp (TRP.TO) project.The ruling deals a major setback for TransCanada Corp and could possibly delay the construction of the $8 billion, 1,180 mile (1,900 km) pipeline.The rulin...Read More
Guyana Goldfields (TSX:GUY) announced today that is has started underground development at its 100%-owned Aurora Mine, which is located in northwestern Guyana, in a territory in dispute with Venezuela.In a media statement, Guyana Goldfields said is has completed the first blast on the Mad Kiss portal and that now the contractor is working on completing and reinforcing the collar and extending the...Read More
* Copper marks biggest weekly drop since August * Zinc premium of cash over 3 months highest in over a year (Updates with closing prices)By Eric OnstadLONDON, Nov 9 (Reuters) - Nickel slumped to its lowest pricein nearly 11 months on Friday and other industrial metals slidas speculators unleashed more selling due to worries abouthigher U.S. interest rates and slowing Chinese economic growth.Copper...Read More
(Adds background, details, quotes)ISTANBUL, Nov 9 (Reuters) - Turkey's Treasury will not holdthree of six bond auctionsoriginally scheduled for next week,it said on Friday, after its financing needs decreased due tonew savings measures and strong demand for eurobonds.The move is likely to ease some worries over Ankara'sexternal funding after a currency sell-off earlier this yearsent the lira to a...Read More
Looking ugly below $14.00.Looking great over $14.90.A speculative metal in hibernation.Silver is not following gold.USLV and DSLV can provide explosive short-term returns.The silver market is stuck in a rut. Even though gold broke above its short-term technical resistance, silver has not moved to a level that is outside of its trading range since trading down to the lowest level at $13.91 in mid-S...Read More
ANKARA, Nov 9 (Reuters) - Turkey's lira weakened around onepercent against the dollar to its weakest level of the week onFriday after the U.S. Federal Reserve reaffirmed its stand ontightening monetary policy, causing markets to price in a U.S.December rate hike.The lira has recovered strongly from a plunge toa record low of 7.24 to the dollar in August, triggering heftyinterest rate hikes. Howeve...Read More
* Silver headed for biggest weekly fall since Sept. 7 * Platinum set for worst week since late Sept * Fed holds rates for now, on track to gradually hike them (Updates prices)By Sumita LayekBENGALURU, Nov 9 (Reuters) - Gold dipped on Friday, on trackfor its biggest weekly fall since August, as the dollar rosetowards 16-month highs after U.S. Federal Reserve stuck to itstight monetary stance and lo...Read More
* Europe's STOXX down 0.4 pct * Miners, autos, oil stocks tumble * Thyssenkrupp sinks 9 pct after profit warning* Luxury stocks suffer from weak Richemont results (Updates prices, adds details)By Julien Ponthus and Helen ReidLONDON, Nov 9 (Reuters) - European shares slipped on Fridayas mining and oil stocks sold off and weak results fromThyssenkrupp and Richemont weighed on sentiment.The pan-Europ...Read More
(Adds quotes, background)By Gavin JonesROME, Nov 9 (Reuters) - Deputy Prime Minister Luigi Di Maiosaid on Friday Italy would meet its 2019 deficit target thanksto extra spending cuts, if necessary, adding that the governmentwas committed to remaining in the euro zone.Speaking at a news conference with foreign reporters, Di Maio said his party had reversed its previous anti-euro stancebecause chang...Read More
One private company has been minting millionaires, and it's about to go public.Sensitive details about a potential new IPO have been "leaked" from this secure facility in Pittsburgh, PA...40 of the world's top researchers are working on a breakthrough that could be worth $15 TRILLION. So for anyone who missed out on Google, Facebook or even Alibaba - this is thebest chance to cash in right now....Read More
* Hawkish Fed hits rand * Stocks end week lower, Tongaat dives(Updates levels and quotes)JOHANNESBURG, Nov 9 (Reuters) - South Africa's rand weakenedon Friday in line with emerging market currencies as indicationsthe United States central bank would stay on a policy tighteningpath drained the demand for risk that followed U.S. electionresults.Stocks fell largely due to subdued risk demand globally...Read More
Gold eroded key trendline support in Asia as Fed maintained hawkish guidance Prices fell to $1,219 - the lowest level since Nov. 1. The safe-haven metal is struggling to find takers despite risk aversion in the markets. Gold's price hit an 8-day low of $1,219 in Asia as the Fed reiterated its tightening stance. The yellow metal eroded trendline rising from the Oct. 9 low and Oct. 31 lo...Read More
By Renita D. YoungNEW YORK, Nov 9 (Reuters) - Weaker gold prices boostedinvestment demand during the third quarter, but gains werecapped by a sell-off in gold-backed exchange-traded funds(ETFs), the GFMS metals consultancy at Refinitiv said on Friday.The price of gold dropped nearly 5 percent in the thirdquarter as investors continued to favor the U.S. dollar andriskier assets during a global trad...Read More
Published 22 Hours AgoUpdated5 Hours AgoReuters Gold fell to its lowest in a month on Friday as the U.S. dollar strengthened after the Federal Reserve reaffirmed its monetary tightening stance, seen as a negative for non-yielding bullion.The Fed held interest rates steady on Thursday but is widely expected to raise interest rates in December - which would be its fourth hike this year - as it point...Read More
* Gold Fields Q3 production falls * Cuts South Deep production guidance * Shares fall more than 5 percent(Adds CEO comment, shares, analyst quote)By Tanisha HeibergJOHANNESBURG, Nov 9 (Reuters) - Shares in Gold Fields fell on Friday after the company reported a 3 percentdrop in third-quarter production, dragged down by a decline inoutput from its last South African asset, South Deep.The mine has f...Read More