Apple's earnings reaction stifled the stock market's momentumStocks came back with a bang this week, though it wasn't enough to save the Dow from its worst monthly loss since January 2016. While news the U.S. was considering more tariffs on Chinese goods spooked traders early on, an upbeat tweet on U.S.-China trade talks from President Donald Trump sparked a broad-market surge, with the Dow and Na...Read More
WASHINGTON (Reuters) - The Securities and Exchange Commission assessed $3.945 billion in disgorgement and penalties across 821 enforcement actions in fiscal 2018, the agency’s enforcement division said in its annual report on Friday.The total was a slight uptick in activity for the SEC, which reported just 754 actions in fiscal 2017 totaling $3.7 billion in disgorgement and penalties.“...Read More
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump and Chinese President Xi Jinping, who spoke by telephone on Thursday, expressed optimism about resolving their trade dispute ahead of a high-stakes meeting at the end of November in Argentina.But within hours of upbeat assessment, the U.S. Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across...Read More
NEW YORK (Reuters) - The U.S. economy is expanding at a 2.9 percent annualized rate in the fourth quarter, following the latest data on trade balance and domestic payrolls, the Atlanta Federal Reserve's GDPNow forecast model showed on Friday.This was slower than the 3.0 percent pace for fourth-quarter gross domestic product that Atlanta Fed's GDP program calculated on Thursday.Reporting by Richard...Read More
WASHINGTON (Reuters) - Alphabet Inc’s (GOOGL.O) Google unit said on Friday that its Washington office chief, who also heads Americas policy, is stepping down as the company faces criticism on issues including how it protects users’ privacy and its investment plans in China.Susan Molinari, a former Republican member of Congress who has run Google’s Washington policy operations for...Read More
• The precious metal managed to rebound from 50% Fibonacci retracement level of the $1180-$1243 recent upsurge on Wednesday, though struggled to build on the overnight upsurge following the release of upbeat NFP report. • However, technical indicators on hourly/daily charts have been holding in bullish territory and support prospects for an extension...Read More
(Kitco News) - Central banks are not onlypurchasing more gold than in recent years, but a number of new buyers haveentered the fray.This includes Poland and Hungary,the first European Union nations to buy gold since the start of the century,said Junlu Liang, senior analyst with the consultancy Metals Focus. In the caseof Hungary, the central bank not only bought its first gold in 32 years, butalso...Read More
UBS' price target represents a 40% premium to yesterday's closeThe shares of Michael Kors Holdings Ltd (NYSE:KORS) are up 3.5%, at last check, to trade at $58.51. This upside comes after UBS upgraded the retailer to "buy" from "neutral," and boosted its price target to $80 from $76, a nearly 40% premium yesterday's close. In addition, Piper Jaffray also raised its rating on KORS -- to "overweight...Read More
WASHINGTON (Reuters) - The United States said on Friday it will temporarily spare eight jurisdictions from U.S. Iran-related sanctions, allowing them to keep importing Iranian oil after U.S. economic penalties come back into effect on Monday.U.S. Secretary of State Mike Pompeo, who announced the decision in a conference call, did not name the jurisdictions, but he said that the European Union as a...Read More
WARSAW (Reuters) - Germany and Poland want Britain and the European Union to agree on an orderly divorce process over the next few days, Chancellor Angela Merkel said on Friday, warning that a lot of work remained to be done before a final deal is reached.“Over the next few days, and I have to say we don’t have many days left, we want to agree an orderly process with Britain for when B...Read More
MUMBAI/BENGALURU, Nov 2 - Physical gold demand in India was lacklustre this week, with dealers offering discounts for the metal ahead of a traditionally busy festival week for the first time in at least three years, as high prices kept consumers away.Prices in India, the second biggest gold consumer after China, held near 33,000 Indian rupees per 10 grams, the highest since September 2013, ahead o...Read More
All three indexes started the session in positive territoryThe Dow Jones Industrial Average (DJI) jumped nearly 200 points at the open on trade optimism and a strong October jobs report. However, the White House's denial that a U.S.-China trade deal is in the works and a sharp post-earnings sell-off for Apple (AAPL) stock has pulled the Dow into negative territory, with the S&P 500 Index (SPX) an...Read More
The proposed Barrick/Randgold merger, assuming it is implemented, will likely lead to a positive re-rating of the whole sector.Randgold's management has been brought in by Barrick in an attempt to change the latter's management philosophy for the better.Barrick shareholders may not be happy with a greater involvement in Africa, but Randgold has seen over a decade of virtually uninterrupted...Read More
ST. LOUIS, Mo. (Reuters) - Bayer AG’s chief executive said this week the company might consider settling lawsuits over Monsanto’s glyphosate-containing weed-killers depending on how high court costs rise, but stressed it remained focused on defending the combined company against claims they cause cancer.Bayer acquired Monsanto this year for $63 billion.“If we can settle nuisances...Read More
(Kitco News)- Wall Street looks for gold prices to rise next week, although many in the weekly Kitco News gold surveyalso described themselves as neutral at the moment due to uncertaintysurrounding U.S. midterm elections on Tuesday.Main Street remainedbullish.The Republicans are seenmaintaining control of the U.S. Senate, but news reports suggest Democrats havea chance to take control of the House...Read More
WASHINGTON (Reuters) - President Donald Trump’s bet that tax cuts and a gush of government spending would smooth the path to a second term may falter as cracks begin to appear in a decade-old recovery.After a nine-year bull run, stocks have wobbled. Capital investment has recently weakened despite a corporate tax cut meant to boost it. Home sales have softened for several months running, and...Read More
WASHINGTON (Reuters) - The Securities and Exchange Commission assessed $3.945 billion in disgorgement and penalties across 821 enforcement actions in fiscal 2018, the agency’s enforcement division said in its annual report on Friday.The total was a slight uptick in activity for the SEC, which reported just 754 actions in fiscal 2017 totaling $3.7 billion in disgorgement and penalties.“...Read More
Democrats take control of the Congress and move Trump out of the White House. Sounds unbelievable? So what is probable and what is not? We invite you to read our today's article about the upcoming US Mid-Term Elections and find out what are the likely consequences for the gold market.Elections are approaching the US again. Two years after Donald Trump was elected as POTUS, American voters go to th...Read More
A century after many of Chile's mines in the arid northern region were first opened, finding copper, or lithium, or gold or silver isn't as easy as it once was. The concentration of minerals in the earth decreases as the miners dig deeper, meaning companies need to process more ore to extract the same amount of metal - a messy and highly polluting process to begin with. To fuel that effort, they...Read More
WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo said on Friday the United States expected to issue eight exemptions to countries importing Iranian oil.Pompeo said the exemptions would be temporary.Reporting by Lesley Wroughton and Susan Heavey; Editing by Susan Thomas Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc....Read More