(Kitco News) - Gold prices are up and hit a more-than-three-month high in early U.S. trading Tuesday.A slumping U.S. dollar index that hit a better-than-three-month low today isbullish for the precious metals markets. Gold and silver markets are alsoseeing safe-haven demand on heightened geopolitical risks. February Comex gold was last up $4.50 an ounce at $1,313.90. March Comex silver was last do...Read More
* Asia shares ex-Japan cheered by upbeat China survey* Dollar downtrodden after suffering worst year since 2003* Commodities benefit from dollar weakness, China demand* Oil prices hover at highest since mid-2015* European shares squeezed down by currency strength* Wall Street expected to start 0.3 percent higher By Marc JonesLONDON, Jan 2 (Reuters) - The ailing dollar fell to its lowest in over t...Read More
Gold priceshave hit a three-month high with the help of a vulnerable U.S. dollar, says Lukman Otunuga, research analystat FXTM. “With the dollar stumbling into the New Year under renewedselling pressure, gold is likely to remain heavily supported, with pricespotentially appreciating towards $1,320 this week,” the analyst says. “From atechnical standpoint, the yellow metal is bull...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
(Updates with unit Leshi's statements in 8-9)SHANGHAI, Jan 2 (Reuters) - The founder of debt-laden tech conglomerate LeEco has defied orders from Chinese regulators to return to the country before the end of 2017, saying he needed to stay in the United States as a fundraising for his electric car business was making progress.The Beijing branch of the China Securities Regulatory Commission (CSRC)...Read More
(Kitco News) - Gold continues to findbuying interest on the back of continued dollar weakness and growinggeopolitical rhetoric from North Korea and Iran. An uptick in manufacturingdemand out of China continues to help the industrial metals, and the current cold snap in the U.S. Northeasthas helped maintain oil above $60. Technically,gold looks healthy and a break to the $1,322 level is possible, b...Read More
FRANKFURT, Jan 2 (Reuters) - German energy group Innogy on Tuesday said it was examining potential cost cuts across all segments, less than two weeks after its chief executive left in the wake of a profit warning."The Innogy Executive Board is currently reviewing discretionary spending across all segments for the potential to deliver further cost reductions," Innogy, which is majority-ow...Read More
The short squeeze in metalscontinues and it appears the shorts are starting to panic. The rally, as goodas it looks, is not very healthy and before it ends, gold could see $1,325 andsilver could see $17.20. That's the funny thing about short covering rallies;they look so good right before they collapse.Helping the rally has been thepressure in the cryptocurrencies, especially the Bitcoin, which ha...Read More
SANTIAGO, Jan 2 (Reuters) - Chile's peso hit its strongest level since May of 2015 in early trading on Tuesday, bidding at 611.80 pesos per dollar.Chilean stocks and currencies posted sharp increases in 2017, bolstered by the victory of conservative billionaire Sebastian Pinera in last month's presidential election. (Reporting by Dave Sherwood) Disclaimer: The views expressed in this article are...Read More
* Euro's 2-1/2 peak against dollar within sights* Commodity currencies rally again* MiFID II introduction weighs on volumes* Graphic: World FX rates in 2017 (Adds details, quote)By Tommy WilkesLONDON, Jan 2 (Reuters) - The euro traded close to its highest level in three years against a broadly weaker dollar on Tuesday, the first trading day of 2018, on optimism over a brightening economic picture...Read More
By Jatindra DashBHUBANESWAR, India, Jan 2 (Reuters) - India's top iron ore state is likely to produce 100 million tonnes of ore in the 2017/18 fiscal year, in line with its target, despite authorities ordering the closure of some mines, a senior government official told Reuters on Tuesday.The eastern state of Odisha suspended operations of seven mines after leaseholders failed to meet a deadline o...Read More
PRAGUE, Jan 2 (Reuters) - The Czech crown firmed to its strongest level in one month on Tuesday after data pointed to a solid growth outlook for the country's economy.At 1149 GMT, the crown traded at 25.498 per euro, up 0.18 percent on the day and the strongest level since November 30, according to Reuters trading system data. Czech manufacturing business sentiment improved more than expected in D...Read More
SANTIAGO, Jan 2 (Reuters) - Chilean central bank policymakers decided unanimously to leave the benchmark interest rate unchanged at 2.5 percent in December but the committee considered a 25-basis-point cut, minutes of that month's meeting showed on Tuesday.In its last meeting of 2017, policymakers cited a "a fragile recovery" of the economy in justifying their decision.Chilean inflation...Read More
(Adds Swala Oil and Gas, CanniMed)Jan 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Tuesday: ** Tanzania's Swala Oil and Gas will buy up to a 40 percent stake in Orca Exploration Group's PAE PanAfrican Energy Corp. for $130 million, Swala said. ** Medical marijuana company CanniMed Therapeutics Inc said it had entered into an agreement with Up...Read More
By Sujata RaoLONDON, Jan 2 (Reuters) - Emerging stocks surged one percent on Tuesday to the highest in 5-1/2 years, lifted by a weak dollar, data indicating robust economic growth and bullish commodities.Many emerging market country currencies also hit multi-week peaks.The first trading day of the year saw emerging stocks and bonds extend the previous year's gains, especially after purchasing mana...Read More
BRUSSELS, Jan 2 (Reuters) - Belgium raised 2.185 billion euros ($2.64 billion) in an auction of short-term treasury bills on Tuesday with negative yields for both maturities sold, the country's debt agency said.Three- month treasury bills, the most frequently auctioned maturity, yielded a negative 0.621 percent, while six-month bills were sold for a negative yield of 0.615 percent.Investors have p...Read More
SAO PAULO, Jan 2 (Reuters) - Vale will conclude the sale of a fertilizer unit to the Mosaic Company with adjustments on Jan. 8, the Brazilian miner said in a securities filing on Tuesday.Vale said it will retain control of the TIPLAM port terminal, an asset which was originally included in the deal, and will receive $1.15 billion plus 34.2 million shares in Mosaic Co , equivalent to 8.9 percent of...Read More
By Rajendra JadhavMUMBAI, Jan 2 (Reuters) - India's gold imports surged 67 percent in 2017 from the previous year to 855 tonnes as jewellers replenished inventory amid a rebound in retail demand, provisional data from precious metals consultancy GFMS showed.The rebound in purchases by India, the world's second-biggest consumer of gold after China, could support global prices , which are already ne...Read More
* Euro's 2-1/2 peak against dollar within sights* Commodity currencies rally again* Graphic: World FX rates in 2017 By Tommy WilkesLONDON, Jan 2 (Reuters) - The euro climbed to a four-month high against a broadly weaker dollar on Tuesday, the first trading day of 2018, on optimism over a brightening economic picture in the euro zone.It finished 2017 with its best year against the dollar since 2003...Read More
Jack ChanPosted Jan 1, 2018GLD – on buy signal.***SLV – on buy signal.***GDX – on buy signal.***XGD.TO – on buy signal.***CEF – on buy signal.***GDXJ – on buy signal.***Speculation is in bull market values.Speculation recovered sharply from the lowest level in years.The breakdown on USD this week is supportive for overal higher metal prices in coming weeks.Summa...Read More