*This interview was recorded on Feb. 2Jim Rickards is a lawyer, investment banker and economist with over thirty years' experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the P...Read More
Gold prices are rising. They bottomed in December 2015 at $1,046, a year later in December 2016 at $1,124, and again in December 2017 at $1,241. The bull market in gold has shown renewed life, as the bull market in stocks is displaying weakness, old age, and terminal blow-off behavior.1 - DOLLAR DEVALUATION:Potentially the most important force pushing gold prices higher is the inevitable devaluati...Read More
(Kitco News) - The amount of gold and silver transferred between accounts of London Bullion Market Association (LBMA) members spiked in December, the organization reported Thursday.The average volume of gold ounces transferred daily in December jumped a staggering 32.8% to 26.8 million ounces —its highest level since June 2013, the LBMA said.The value of gold ounces transferred daily in Dece...Read More
CloseGain/LossGold $1350.00+$4.30Silver$17.24-$0.09XAU87.60-0.07%HUI196.70+0.13%GDM661.96-0.27%JSE Gold1244.84-0.24USD88.59-0.51Euro125.19+1.06Yen91.44-0.26Oil$65.80+$1.0710-Year2.779%+0.059T-Bond146.125-1.6875Dow26186.71+0.14%Nasdaq7385.86-0.35%S&P2821.98-0.06% The Metals: Gold fell $8.30 to $1337.40 in London, but it then rallied back higher throughout most of trade in New York and ended...Read More
MONTEVIDEO, Feb 1 (Reuters) - Uruguay needs financing of $3.077 billion this year and will help meet that amount through multi-lateral borrowing and issuance of $2.7 billion in bonds, the economy ministry said in its quarterly debt report on Thursday.The country ended 2017 with a fiscal deficit of $2.0 billion, or about 3.5 percent of gross domestic product.Proceeds from the bonds due to be issued...Read More
* Dollar index sags, not far from three-year low* Strong manufacturing survey underpins euro* U.S. jobs report in focus later on Friday By Lisa TwaroniteTOKYO, Feb 2 (Reuters) - The dollar nursed losses against a basket of currencies on Friday, on track for a weekly fall as investors focused on renewed economic strength in the eurozone.The dollar index, which tracks the greenback against a basket...Read More
Mr. Paul Huet reports KLONDEX REPORTS 2017 PRODUCTION RESULTS AND PROVIDES 2018 GUIDANCE; ANNOUNCES POSTPONEMENT OF INVESTOR DAY Klondex Mines Ltd. has releasedits preliminary operating results for the fourth quarter and full-year 2017. In addition, the company reported that its investor day, previously scheduled for Feb. 7, 2018, has been postponed as Paul Huet, the president and chief executive...Read More
* PREVIOUS TRADING SESSION MOVES:* SSEC -1.0 pct, CSI300 -0.7 pct, HSI -0.8 pct* Shanghai->HK daily quota used 17.8 pct* HK->Shenzhen Connect daily quota used 9.3 pct, Shenzhen->HK daily quota used 4.5 pct* CNY official close 6.2965 per dollar* FTSE China A50 +0.4 pct, BNY Mellon ADR China Select Index -1.7 pct SHANGHAI, Feb 2 (Reuters) - Following is a list of recent corporate and polic...Read More
* Bank stocks buoyed by hawkish Fed comments* UPS falls as higher costs hurt profit* Amazon up, Alphabet and Apple down in extended trading after results* Dow up 0.14 pct, S&P 500 down 0.06 pct, Nasdaq down 0.35 pct (Adds Federal Reserve quote on inflation in paragraph 4)By Stephen CulpFeb 1 (Reuters) - Wall Street stocks gave up early gains on Thursday as bond yields rose and technology stock...Read More
Feb 2 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATE COUNTRY AUCTION DETAILS 5-FebNetherlands DTC auction 5-FebFranceAuction of BTF Treasury notes 6-FebUnited States Sale of 3-year notes 6-FebBelgium Auction of Treasury bills 7-FebGermany Auction of 10-year Federal bonds 7-FebUnited States Sale of 10-year notes...Read More
Feb 2 (Reuters) - For other diaries, please see:Top Economic Events Government Debt Auctions Political and General News Events Index of All Diaries Guide to Economic Indicators -----------------------------------------------------------This Diary is filed daily. ** Indicates new events -----------------------------------------------------------MONDAY, FEBRUARY 5SINGAPORE - ASEAN Finance and Centra...Read More
Feb 2 (Reuters) -For other diaries, please see:U.S. Federal Reserve Polling Unit Diary Today in Washington Political and General News -----------------------------------------------------------This Diary is filed daily. ** Indicates new events ----------------------------------------------------------- FRIDAY, FEBRUARY 2 AUSTIN - Federal Reserve Bank of Dallas President Robert Kaplan participates...Read More
(Adds data on funds, analyst quote, table, byline)By Trevor HunnicuttNEW YORK, Feb 1 (Reuters) - U.S. fund investors cashed out of cash funds and stocked up on stocks in the latest week, ignoring a setback in markets and taking on more risk, Lipper data showed on Thursday.Relatively low-risk money-market funds recorded $26 billion in withdrawals during the week ended Jan. 31, while stock mutual fu...Read More
The U.S. dollar continues to trade under pressure and is now at a critical support level. The dollar index has lost almost half of a percentage in value today and is currently fixed at 88.54. If the dollar continues to trade at this level, it will mark the eighth consecutive week in which it has closed below its opening price on Monday.Beginning in mid-December of last year, the dollar went into a...Read More
(Kitco News) - The excitement in the gold market space might not last, with ABN Amro warning of a looming drop in prices in the next few weeks.“Gold prices are toppish at current levels and we expect prices to move below USD 1,300 in the coming weeks,” the Dutch bank said in its Precious Watch report published on Thursday.Gold is already up 3% since the start of 2018, but this does not...Read More
(Recasts lead paragraph)By Catherine Ngai and Aparajita SaxenaNEW YORK Feb 1 (Reuters) - Asset manager and advisory firm Lazard Ltd said on Thursday that it is reviewing whether to convert into a "C Corporation" from its current status as a public partnership after changes to the U.S. tax code mean such a conversion could raise its effective tax rate by about 10 percentage points.The ov...Read More
(Updates prices, adds pending pension reform in Brazil and Chile interest rate decision)By Bruno FederowskiSAO PAULO, Feb 1 (Reuters) - Latin American currencies turned mostly higher on Thursday as hawkish remarks from the Federal Reserve failed to derail a month-long rally fueled by investors' appetite for risk.In its policy statement on Wednesday, the Fed left U.S. interest rates unchanged but b...Read More
NEW YORK, Feb 1 (Reuters) - Steve Pattyn, a managing director and U.S. equity analyst for Och-Ziff Capital Management Group LLC, has left the company, a spokesman said in an e-mail on Thursday.Pattyn, who had a focus on the energy and utilities sector, is now a managing member at Yaupon Capital Management, according to his LinkedIn. He started in February.Yaupon will be an energy and utilities foc...Read More
(Corrects location of EverBank in paragraph 5 to Jacksonville, Florida, not St. Louis)* Palladium edges up after hitting lowest since Dec. 18* GRAPHIC-2018 asset returns: By Renita D. Young and Zandi ShabalalaNEW YORK/LONDON, Feb 1 (Reuters) - Gold prices were nearly unchanged on Thursday as markets anticipated U.S. jobs data due at the end of the week for guidance on monetary policy for the remai...Read More
NEW YORK, Feb 1 (Reuters) - Investors cashed out of cash funds and stocked up on stocks in the latest week, ignoring a setback in markets and taking on more risk, Lipper data showed on Thursday.Low-risk money-market funds recorded $26 billion in withdrawals during the week ended Jan. 31, while stock funds took in $16 billion in new money, according to Lipper. (Reporting by Trevor Hunnicutt; Editin...Read More