(Kitco News) - With this week’s gold rally finally shaking up the precious metals space, analysts are now wondering if this re-awakened ‘haven’ interest is sustainable and how high gold prices can go next week.“The rally fits with a long-held view that the market is under-appreciating risks, with a higher tolerance for uncertainty. But I think with the sell-off in equity ma...Read More
MUMBAI/BENGALURU, Oct 12 (Reuters) - Physical gold demand in India was subdued this week as a rally in domestic prices curbed retail purchases going into a key festival season, while buying remained lacklustre in other major Asian hubs.In the Indian market, gold futures this week touched their highest since July 2016 at 32,014 rupees per 10 grams."Usually retail buying rises during Navratri (Dusse...Read More
Consumer sentiment in October falls just short of expectations.The University of Michigan's survey finds American confidence in U.S. economic policy is at a 15-year high.The survey considers 500 consumers' outlook on economic prospects.Michael Sheetz| @thesheetztweetz Published 11 Hours AgoUpdated10 Hours AgoCNBC.com show chapters Consumer sentiment index at 99.0 versus 100 estimate ...Read More
Oct 12 (Reuters) - Canadian gold miner Detour Gold Corp said on Friday that its settlement offer regarding management changes, which included a plan to appoint a new chief executive officer, was rejected by hedge fund Paulson & Co.The settlement would have resulted in almost half of its board being refreshed in six weeks, with interim CEO Michael Kenyon stepping down before the next annual gen...Read More
BRUSSELS (Reuters) - Italy is resisting a European Union push to impose sanctions on states who carry out cyberattacks, a move that appears in line with Rome’s calls to de-escalate tensions with Russia but that could alienate Italy from its EU allies.Diplomats said the sanctions plan is meant to strengthen EU defenses and deterrence against cyberattacks, in particular from Russia, which has...Read More
NEW YORK (Reuters) - The U.S. banking industry is enjoying the benefits of a growing economy and lower taxes, and three of the largest lenders reported double-digit profit growth on Friday.The results reflected an array of positive business factors for banks. Their net interest margins - the difference between what they pay on deposits and what they charge on loans - have widened. Other key busine...Read More
NEW YORK (Reuters) - Months after he lost millions when an esoteric corner of financial markets cratered in February, former Target Corp store manager Seth Golden is betting against volatility again.Golden, who says wagers on market calm earned him millions in the past six years, is among the investors who have kept trading complex financial products linked to the Cboe Volatility Index .VIX - Wall...Read More
The SPX strung together its worst losing streak since November 2016Wall Street took a big hit this week as concern over rising interest rates -- a subject President Donald Trump was quick to weigh in on -- sent traders heading toward the exit en masse. The major benchmarks plunged below key technical levels, with the Dow tallying a two-day loss of 1,377 points between Wednesday and Thursday, the S...Read More
(Reuters) - Facebook Inc (FB.O) said on Friday it had confirmed that the attackers in the mass security breach it announced late last month accessed the accounts of about 30 million people in total and stole name and contact details for 29 million.Facebook Inc said in late September that hackers stole digital login codes allowing them to take over nearly 50 million user accounts in its worst secur...Read More
NEW YORK (Reuters) - The mash-up of old and new media may not be a winning combination for the new S&P communication services sector .SPLRCL as its highest fliers face regulatory threats and challenges to user growth.The reconstituted sector, which debuted at the end of September, includes telecom, internet, media and entertainment companies such as AT&T Inc (T.N), Walt Disney Co (DIS.N) a...Read More
BAC is on pace for its worst week since MarchBank of America Corp (NYSE:BAC) stock is trading flat this afternoon, last seenat $28.40. Amid today's focus on big banking earnings, traders are more than likely gearing up for Bank of America's upcoming third-quarter earnings report, which is slated to hit the Street before the market opens on Monday, Oct. 15. Below we will take a look at how BAC has...Read More
NEW YORK (Reuters) - The dollar climbed on Friday against a basket of currencies as global equity prices rebounded from a six-day rout and robust Chinese export figures soothed some worries about the world’s second-biggest economy and its trade war with Washington.Euro and sterling snapped their three-day winning streak in advance of next week’s European Union summit where Britain and...Read More
WASHINGTON (Reuters) - The United States on Friday said it was granting investors another month to divest their holdings of sanctioned Russian companies EN+ <ENPLq.L > and Rusal and was giving the firms more time to address their business operations.The U.S. Treasury Department in April imposed sanctions against billionaire Oleg Deripaska and eight companies in which he is a large shareholde...Read More
All three benchmarks are still heading for their worst week since MarchThe U.S. stock market is stabilizing, with the Dow Jones Industrial Average (DJI) up triple digits and the S&P 500 Index (SPX) set to snap its six-day skid. The Nasdaq Composite (IXIC) is higher, too, as FAANG stocks rally. Today's upside comes after two days of sharp selling, with traders also watching the start of earnings...Read More
NEW YORK (Reuters) - U.S. gross domestic product is expanding at a 2.25 percent clip in the third quarter compared with a 2.27 percent pace calculated a week ago following this week's inflation data, the New York Federal Reserve's Nowcast model showed on Friday.It projected GDP in the fourth quarter is growing at a 2.77 percent rate versus a 2.80 percent pace estimated the week before.Reporting by...Read More
SAN ANTONIO, Texas (Reuters) - Democratic U.S. Representative Beto O’Rourke said he raised $38.1 million in the final full fiscal quarter before the Nov. 6 elections in his campaign to unseat Republican U.S. Senator Ted Cruz, a record for any U.S. Senate race.It was more than three times the $12 million that Cruz told supporters last week he had raised in the quarter, which ended Sept 30. O&...Read More
LONDON (Reuters) - World stock markets suffered their worst tumble this week since February’s violent shakeout with some $2.6 trillion of investor wealth lost, but there was no clear trigger apart from long-brewing worries on U.S. interest rates, trade wars, China and emerging markets.Whatever the precise cause of this week’s reversal, many investors are now wondering whether the confl...Read More
(Kitco News)- WallStreet and Main Street both look for gold’s newfound upward momentum tocontinue next week, based on the Kitco News gold survey.Equitiessold off sharply Wednesday and Thursday. Even though the stock market was upFriday morning, the prior weakness left gold higher for the week as investorsturned to the metal as a safe haven. The dollar index also eased this week,further fueli...Read More
(Kitco News)- The gold investors are breathing a much-needed sigh of reliefafter the precious metal pushed to a 10-week high, seeing its best gains in twoyears, but more work needs to be done, according to one commodity analyst.In a report Friday, Ole Hansen, head of commodity strategy atSaxo Bank, said that after Thursday’s rally, which saw prices rise more than$29 on the day, he is now bul...Read More
Get ready for an influx of pot stock profits.On October 17th, marijuana will be 100% legal in Canada.That's sparking a new wave of IPOs. And shares could surge 501% - 1,364% in the coming weeks - just like the recent weed stock IPOs.One investor's research has uncovered a secret way to access red hot IPO shares.Click here right now for details on this urgent trading situation.Canada is the first c...Read More