Goldfutures finished the day with moderate gains, as the most active December Comexcontract closed $3.80 higher at $1,236.20. Although gold prices finished higher on the week, after gainingapproximately $ 6.00, price advances were limited once again by dollarstrength. That being said, gold prices have managed toincrease in value now for the fourth consecutive week. Another noteworthycharacteristic...Read More
The Dow and S&P also racked up big weekly lossesIt was a sharply lower session on Wall Street, with the Dow off more than 500 points at its intraday low. Negative FAANG earnings reactions from Amazon (AMZN) and Alphabet (GOOGL) sparked the heavy selling, and had the S&P 500 flirting with correction territory. While the major benchmarks came off their earlier lows by the close, they all ended the w...Read More
BUDAPEST (Reuters) - Thousands rallied in Budapest on Friday on behalf of a university founded by U.S. financier George Soros which says it is being forced out of Hungary by the nationalist government of Prime Minister Viktor Orban.Orban, who believes that European culture is under threat from migration and multiculturalism, has for years vilified the liberal Soros, who was born in Hungary and bac...Read More
PLANTATION, Fl. (Reuters) - FBI agents arrested a 56-year-old man in Florida on Friday suspected of sending more than a dozen parcel bombs to high-profile critics of U.S. President Donald Trump days ahead of congressional elections, authorities said.Agents who took Cesar Sayoc into custody in Plantation, near Fort Lauderdale, also hauled away a white van that was plastered with pro-Trump stickers,...Read More
NEW YORK (Reuters) - Stock markets around the world fell on Friday on track for the longest weekly losing streak since 2013 while U.S. Treasury prices rose along with demand for safer bets as better than expected U.S. economic data did little to assuage anxiety over disappointing corporate profits and trade wars.Wall Street fell after earnings reports from Amazon.com and Alphabet rekindled a rush...Read More
BERLIN, Oct 26 (Reuters) - A majority of euro zone countries favour the single currency area adopting a fiscal capacity, or common budget, French Finance Minister Brune Le Maire said on Friday.“There is a real change in the eurogroup and within the EU. A clear majority now support such a capacity,” he said after meeting German Finance Minister Olaf Scholz in Berlin. “Call it a fi...Read More
NEW YORK (LPC) - Leveraged loans are standing out as the best-performing asset class in an otherwise brutal October as rising volatility in global equities has rippled across the capital markets. While investors pulled US$7.4m from loan funds in the week ending October 24, the first week of outflows in four months, the asset class has been largely unfazed by the risk-off sentiment created by t...Read More
WASHINGTON (Reuters) - U.S. Attorney General Jeff Sessions said on Friday that Cesar Sayoc, the suspect in a raft of suspicious packages sent to prominent Democrats and others, is in the custody of the FBI and has been charged with five federal crimes.Sayoc faces up to 58 years in prison if found guilty, Sessions said at a press conference announcing the charges.“We will not tolerate such la...Read More
(Kitco News)- The amount of gold transferred between accounts of London Bullion Market Association members was steady during September while the silver volume increased, the organization reported Friday.The LBMA releases clearing statistics each month showing the net volume of gold and silver transferred between accounts of members, essentially providing a snapshot of the amount of trading activit...Read More
(Adds market reaction, background)WASHINGTON/BUENOS AIRES, Oct 26 (Reuters) - The International Monetary Fund on Friday increased the size of a standby financing agreement for Argentina to about $56.3 billion, closing a deal the country has said would come with tougher fiscal measures.Argentina's President Mauricio Macri agreed to a $50 billion IMF deal in June, hoping it would stop a run on the c...Read More
Mineros S.A. (BVC: MINEROS) has entered into a binding agreement with Yamana Gold (TSE: YRI) to acquire the Gualcamayo gold mine in Argentina, and has an earn-in agreement for the La Pepa gold exploration project in Chile.Gualcamayo is an established producing mine with a long operating history. The mine is on track to achieve Yamana's 2018 gold production guidance of 100,000 ounces.The Gualcamayo...Read More
Gold futures climbed Friday, finding haven-related support despite some better-than-expected U.S. economic data, as equities saw renewed pressure to end a volatile week. Prices, however, finished a buck short of the roughly three-month high it settled at on Tuesday. December gold GCZ8, +0.24% rose $3.40, or 0.3%, to settle at $1,235.80 an ounce, tacking on 0.6% for the week-its fourth weekly rise...Read More
Gold futures climbed Friday, finding haven-related support despite some better-than-expected U.S. economic data, as equities saw renewed pressure to end a volatile week. Prices, however, finished a buck short of the roughly three-month high it settled at on Tuesday. December gold GCZ8, -0.03% rose $3.40, or 0.3%, to settle at $1,235.80 an ounce, tacking on 0.6% for the week-its fourth weekly rise...Read More
(Kitco News) - David Garofalo,president and chief executive officer of Goldcorp Inc. (TSX: G, NYSE: GG), says“nothing is broken” with the company and that third-quarter earnings wereweaker largely because of a decision to move processing of lower-grade oreahead by one quarter at the new Pe??asquito pyrite leach plant.The CEO spoke withKitco News on Friday a day after shares of the comp...Read More
NEW YORK (Reuters) - Worries over global oil pricing and pipeline constraints are hanging over the energy sector as U.S. companies begin to report quarterly results, with many producers’ shares trading lower on the year.Third-quarter profits for oil producers generally should be higher than a year ago, because the average price per barrel was up about 44 percent over the same period last yea...Read More
NEW YORK (Reuters) - Three former London-based currency traders were found not guilty on Friday of U.S. charges that they schemed to rig benchmark exchange rates, the latest criminal convictions to emerge from a U.S. probe into the multitrillion-dollar foreign exchange market.Chris Ashton, Rohan Ramchandani and Richard Usher, who worked at Barclays Plc (BARC.L), Citigroup Inc (C.N) and JPMorgan Ch...Read More
The semiconductor name will report earnings on MondayThe shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) are getting hit by broad-market headwinds today, as chip stocks sell off on a rare revenue miss for Western Digital Corp (NASDAQ:WDC). After bottoming at a 22-month low of $17.45 earlier, TSEM stock was last seen down 0.3% at $18.06.Despite this technical weakness, TSEM options traders are tar...Read More
JOHANNESBURG (Reuters) - South African President Cyril Ramaphosa declared himself in economic “repair mode” at a major investment conference on Friday as the country raised a total of $55 billion from investors to help haul itself out of recession.The former union leader, who inherited a mismanaged economy from the scandal-plagued Jacob Zuma earlier this year, wants $100 billion of new...Read More
Consumer sentiment for October was weaker than anticipated.The index has slumped since March when it reached its highest level since 2004 with a reading of 101.4.Michael Sheetz| @thesheetztweetz Published 11 Hours AgoUpdated10 Hours AgoCNBC.com show chapters Consumer sentiment index at 98.6 in October 10 Hours Ago |00:58 Consumer sentiment for October was weaker than anticipate...Read More
WASHINGTON (Reuters) - Authorities in Sacramento, California, are investigating a suspicious package sent to U.S. Senator Kamala Harris, a Democrat who has criticized Republican President Donald Trump, CNN reported on Friday.The report came as law enforcement officials took a suspect into custody in connection with a series of parcel bombs sent to prominent Democrats and other critics of Trump.Rep...Read More