* Q4 advance GDP estimate 2.6 pct vs est. 3 pct growth* Intel jumps after bullish forecast, upbeat earnings* Starbucks falls after sales warning* Futures up: Dow 35 pts, S&P 8 pts, Nasdaq 31 pts (Adds comment, details on GDP data, updates prices)By Sruthi ShankarJan 26 (Reuters) - Wall Street was set to open higher on Friday as investors shrugged off weaker-than-expected U.S. economic growth d...Read More
DAVOS, Switzerland, Jan 26 (Reuters) - Japan's central bank expects the economy to continue growing at a moderate pace and inflationary expectations are picking up slightly, Bank of Japan Governor Haruhiko Kuroda said on Friday. Speaking at the World Economic Forum in Davos, Kuroda also said the bank would continue supporting the economy with monetary easing. (Reporting by By Dmitry Zhdannikov an...Read More
Jan 26 (Reuters) - Stock futures pared gains on Friday after data showed U.S. economic growth unexpectedly slowed in the fourth quarter.Separately, President Donald Trump at Davos warned trading partners that Washington would no longer tolerate unfair trade.Dow e-minis were up 52 points, or 0.2 percent, with 33,013 contracts changing hands.S&P 500 e-minis were up 9.75 points, or 0.34 percent,...Read More
(Adds details, context)By Bruno FederowskiBRASILIA, Jan 26 (Reuters) - Brazil's current account deficit shrank in 2017 to a decade low, in a boost to the nation's recovery from the deepest recession in three decades.The current account deficit tightened nearly 60 percent from 2016 to $9.762 billion, central bank data showed on Friday, capped by a $4.327 billion December deficit. Economists polled...Read More
WASHINGTON, Jan 26 (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Friday he was not trying to talk down the dollar and his comments earlier this week were taken out of context, according to an interview with CNBC."I made the comment two days ago in a press gaggle in the morning. What I said was actually very even-handed and consistent with what I said before," Mnuchin told CNB...Read More
(Kitco News) - Gold and silver markets have seen some profit-taking pressure from the shorter-termfutures traders after solid gains scored earlier this week. The metals did notshow a big reaction to the just-released U.S. GDP report that was a miss to thedownside. February Comex gold futures were last down $11.80 an ounce at $1,351.40.March Comex silver was last down $0.22 at $17.395 an ounce.TheU...Read More
(Kitco News) -Ordersfor durable goods in the U.S. rose in December for the fourth time in fivemonths, this time climbing by 2.9%, the Commerce Department reported Friday. Consensusexpectations compiled by various news organizations called for durables to beup by somewhere between 0.6% and 0.9%.Excludingtransportation, new orders increased 0.6%. Excluding defense, they were up2.2%. Transportation e...Read More
(Kitco News)- Gold prices, under pressure from renewed momentum in the U.S.,is relatively unchanged territory following weak-than-expected four-quartergross domestic product.Friday,the U.S. Commerce Department said that the first estimate showed that the U.S.economy grew by 2.6% in the last three months of 2017. According to consensusforecasts, economists were expecting to see growth of 3.0%. The...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
A funny thing happened on the wayto new highs. On Thursday, gold looked like it was going to break out theupside and take out the highs on its way to $1,400. Suddenly without warning,the markets reversed and went from up $8 to down $14. This is known as a keyreversal, which is an indication that the top of this move is in.With the dollar crashing,equities going parabolic for some reason at 1:16 p....Read More
* UBS Wealth Management upgrades 6-month forecasts* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 26 (Reuters) - The dollar fell more than half a percent against a basket of currencies on Friday as comments by senior U.S. officials this week backing a weak dollar reverberated through currency markets.After U.S. President Donald Trump said on Thursday he ultimately wanted the doll...Read More
* Premiums in China at about $7* Discounts in India down to $3 from $5 last week By Nithin ThomasPrasad and Rajendra JadhavBENGALURU/MUMBAI, Jan 26 (Reuters) - Demand for physical gold improved slightly in most Asian hubs this week, despite rising prices, as buyers stocked up on expectations of a further rally in the yellow metal. Gold prices rose on Friday, putting them on course for a near 2 pe...Read More
Gold regained some positive traction on Friday and managed to recover part of previous session's sharp corrective slide from 1-1/2 year tops. A smart US Dollar recovery move, after the US President Donald Trump backed a stronger greenback, prompted some aggressive selling around the dollar-denominated commodity on Thursday. Spot prices retreated around 1.75% from an intraday high level o...Read More
(Refiles to add apostrophe in headline)* Graphic: World FX rates in 2018 * Stocks on longest weekly winning streak since '99* Dollar buckles again, worst weekly run since 2010* Pound boosted by GDP numbers* Oil helped by weak dollar, gold near 17-month high By Ritvik CarvalhoLONDON, Jan 26 (Reuters) - World stocks were set for their longest weekly winning streak since 1999 on Friday, while the d...Read More
* UBS Wealth Management upgrades 6-month forecasts* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 26 (Reuters) - The euro jumped more than half a percent higher on Friday as comments by senior U.S. officials this week advocating their support for a weak dollar reverberated through currency markets.Though U.S. President Donald Trump's comments on Thursdaythat he wanted a "str...Read More
Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) said Friday it had begun additional exploration drilling at its 85%-owned Cascabel copper-gold project, 180 km north of the country's capital Quito.The Australian gold miner noted said efforts are now focussed on targeting high-grade extensions to the Alpala resource. It also said that an additional 13,384 metres of drilling has been complet...Read More
LONDON, Jan 26 (Reuters) - UBS Wealth Management upgraded its six-month forecasts for the euro and sterling on Friday after upgrading its short-term forecasts earlier this week, citing protracted dollar weakness.The firm upgraded its euro forecast against the dollar to $1.28 for six months from a previous forecast of $1.22, according to a report published by the Chief Investment office at UBS Weal...Read More
The Dow and S&P 500 scored fresh records on Thursday, Jan. 25, as the Nasdaq declined slightly. The Dow finished up 0.54% to 26,392. It hit an intraday record high of 26,458. The S&P 500 gained 0.06% and the Nasdaq dipped by 0.05%. Stocks rose after 3M posted adjusted earnings in the fourth quarter of $2.10 a share, above estimates of $2.03. The company also raised its...Read More
Comments push gold lower; Draghi touts robust growthTreasury yields fall; Dow Jones Industrial Average risesMnuchin should "clarify exactly what he said," IMF head Christine Lagarde says in Davos.President Donald Trump waded into the unusual public debate over currency valuations, roiling markets after he said that he favored a strong greenback just a day after his Treasury secretary endorsed a we...Read More
"Buy and hold" isn't a trading strategy.For the entirety of my trading career I have tried to avoid buying and holding. Every time I put on a trade I do so with a clear exit plan in mind. I NEVER go into positions with the intention to hold them for an undetermined amount of time.Until now...There's one market and one investment that has made me completely change my attitude about "buy and hold" a...Read More