* Dollar index steady, near 7-month low* Sterling up on eve of UK election* Graphic: FX rates in 2017 (Updates with U.S. market open, changes dateline from LONDON)By Saqib Iqbal AhmedNEW YORK, June 7 (Reuters) - The euro was slightly weaker against the dollar on Wednesday, in choppy trading, on reports suggesting the European Central Bank would lower its inflation targets at Thursday's policy anno...Read More
(New throughout, adds Escondida and Sierra Gorda, emergency services)By Fabian CamberoSANTIAGO, June 7 (Reuters) - Mines in northern Chile have suspended key operations after heavy rains lashed the high altitude desert region of Antofagasta overnight and into Wednesday, companies told Reuters.BHP Billiton'sEscondida, the world's biggest copper mine, said it was snowing and all operations had been...Read More
* Greece wants yields below 5 pct before debt market return* ECB support would boost chances considerably* Decisions will depend on outcome of Eurogroup meeting By Lefteris Papadimas and Marc JonesATHENS/LONDON, June 7 (Reuters) - Greece will return to markets once its borrowing costs drop below 5 percent, sources told Reuters, which could happen if the European Central Bank includes Greek bonds...Read More
(Adds details on latest data, graphics)NEW YORK, June 7 (Reuters) - U.S. applications to buy a home reached their highest level in about seven years last week as mortgage rates fell to their lowest levels since late 2016, the Mortgage Bankers Association said on Wednesday.The Washington-based group's seasonally adjusted index on mortgage requests for home purchases rose 10 percent to 261.9 in the...Read More
LONDON, June 7 (Reuters) - Intercontinental Exchange (ICE) has substantially expanded the range of dates that its London gold futures contract can be traded, as it seeks to beat rival exchanges to gain a foothold in the city's $5 trillion-a-year bullion market. ICE said that from May 22 its daily futures contract could be traded on dates up to three months into the future. Previously it could be t...Read More
* Czechs estimated to have 3 pct of global lithium resources* European Metals aims to start mining in 2019* Lithium demand seen surging, mainly due to electric cars By Robert MullerCINOVEC, Czech Republic, June 7 (Reuters) - Mining for lithium could start in the Czech Republic in two years, exploiting Europe's largest resource of the metal that is used in batteries for electric vehicles and home...Read More
From safety-deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand. A rush into haven assets that began during the financial crisis is getting a new lease on life from an upsurge in populist politics and a quickening of inflation. Two firms say they're planning to open vaults in Europe capab...Read More
By Gertrude Chavez-DreyfussNEW YORK, June 7 (Reuters) - U.S. Treasury debt prices fell on Wednesday, with yields trading within narrow ranges, as investors consolidated positions ahead of a key events on Thursday, including a European Central Bank policy meeting and Britain's general election.Markets will also be focused on former FBI Director James Comey's testimony on Thursday before a Senate pa...Read More
Seabridge Gold Inc (TSX:SEA) (NYSE:SA) announced today that it has completed the acquisition of a 100% interest in the Snowstorm Project from PFR Gold Holdings, LP ("PFR") (formerly known as Paulson Gold Holdings, LP). The Snowstorm Project consists of 31 square miles of land holdings strategically located at the projected intersection of three of the most important gold trends in Northern Nevada:...Read More
PRAGUE, June 7 (Reuters) - The Czech central bank could make its first interest rate rise in the second half of this year, Vice-Governor Mojmir Hampl said on Wednesday."Our forecast counts with the rise of interest rates in the second half of the year... so far, I still see this as the most likely development," Hampl said at a corporate treasury conference.The Czech National Bank (CNB) abandoned i...Read More
Rudi Fronk and Jim Anthony, the cofounders of Seabridge Gold, discuss the significance of gold breaching its downward sloping trend line.Today, gold broke a nearly six year-long downward sloping trend line that goes back to its all-time high of $1921 in August of 2011. Gold has not managed to cross above this trend line, currently at around $1280, since then, although it has come close a number of...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)* By Andy HomeLONDON, June 7 (Reuters) - Is a showdown looming in the world of industrial metals trading? It would, at first glance, seem that way. In the red (-leather seat) corner sits the London Metal Exchange (LME), the 140-year-old incumbent, still dominant in terms of global price-setting but recently showing sig...Read More
* Qatar Islamic Bank sinks; dependence on Gulf deposits* Buying opportunity for some cheap Qatari shares* Abu Dhabi's Dana Gas jumps on receipt of Egypt payments* Saudi trading volumes rise as MSCI decision nears* Ezz Steel surges as Egypt imposes import tariff By Celine AswadDUBAI, June 7 (Reuters) - Qatar's stock market fell for a third straight day on Wednesday, hit by the breaking of diplomat...Read More
(Kitco News) - Yields on U.S. Treasury notes (USTs) are likely to be the biggest influence on gold going forward, say analyst with Standard Chartered.In the meantime, the precious metal could get a lift from political and geopolitical turmoil, but this type of a safe-haven bid tends to be temporary, the bank pointed out.Spot gold on Tuesday hit its highest level of 2017, peaking just above $1,296...Read More
NEW YORK, June 7 (Reuters) - The U.S. Securities and Exchange Commission will take up to another 60 days to decide whether to allow the sale of the Chicago Stock Exchange to a group of investors led by China-based Chongqing Casin Enterprise Group.The SEC, which reviews proposed mergers involving exchanges to ensure they comply with federal regulations and appropriately self-police their brokerage...Read More
WARSAW, June 7 (Reuters) - Poland's zloty currencyhas strongly appreciated recently but the central bank is not concerned about these gains given robust growth in the domestic economy, the bank's Governor Adam Glapinski said on Wednesday."We are carefully watching (the zloty exchange rate)," Glapinski said after the bank decided earlier on Wednesday to keep rates at a record-low. "One can see that...Read More
* Tightening polls add urgency to staffing plans* Dealers keep Brexit, Trump surprises in mind* Traders, analysts to stay late, start early, use Asia* Pizzas ordered to fuel all-nighter (Adds extended Tradeweb operating hours)By Helen ReidLONDON, June 7 (Reuters) - Bankers, brokers and money managers are pulling in extra staff to handle any big market moves on Thursday night as tightening polls ma...Read More
WARSAW, June 7 (Reuters) - Poland's inflation will likely remain at a "moderate" level in the coming quarters, the central bank reiterated on Wednesday, explaining its decision to keep interest rates at an all-time low.The bank also said that the current level of rates, with the benchmark rate at 1.50 percent since March 2015, has helped keep Poland on a path of balanced economic growth.The bank s...Read More
From safety deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand.A rush into haven assets that began during the financial crisis is getting a new lease on life from an upsurge in populist politics and a quickening of inflation. Two firms say they plan to open vaults in Europe capable of hold...Read More
* Former FBI director to testify before Congress on Thursday* UK election in focus* Navistar dips after posting quarterly loss* Indexes up: Dow 0.11 pct, S&P 0.10 pct, Nasdaq 0.26 pct (Updates to open)By Tanya AgrawalJune 7 (Reuters) - U.S. stocks opened slightly higher on Wednesday but gains were limited as investors stayed on the sidelines ahead of Thursday's major political and economic events....Read More