If looking at Gold only in a vacuum, it looks good. Its uptrend since the start of the year remains intact and it has pushed above its 50 and 200-day moving averages. It closed the week at $1280/oz and could test $1300 next week. But looks can be deceiving. Considering the US Dollar index closed at a 7-month low today, Gold is lagging a bit. Moreover, both Silver and the gold miners have not confi...Read More
TORONTO, June 5 (Reuters) - Canada's benchmark stock index finished lower on Monday, as resources and financial services, partly weighed lower by the latest housing data in Toronto, kept the market in negative territory.The Toronto Stock Exchange's S&P/TSX composite index fell 32.97 points, or 0.21 percent, to 15,409.78. All but two of the index's main industry groups were in lower territory. (Rep...Read More
NEW YORK, June 5 (Reuters) - Stocks dipped on Wall Street on Monday as a drop in Apple partly offset gains in energy and financial shares, some of the market's worst performing sectors this year.The Dow Jones Industrial Average fell 21.84 points, or 0.1 percent, to 21,184.45, the S&P 500 lost 2.91 points, or 0.12 percent, to 2,436.16 and the Nasdaq Composite dropped 10.11 points, or 0.16 percent,...Read More
ALL TIMES IN EDT/GMT -------------------------------------------------1000/1400: The Labor Dept. issues Job Openings and Labor Turnover Survey for April.1130/1530: The Treasury Dept. holds weekly sale of 4-week bills.1600/2000: The American Petroleum Institute issues weekly national petroleum report.------------------------------------------------- DIARY - Federal Reserve Events U.S. Indicators (W...Read More
* ECB expected to take benign view of economy on Thursday* Sterling hits 10-day high as traders bet on Tory victory* Graphic: World FX rates in 2017 (Updates prices, market activity and comments to U.S. afternoon trading; new byline)By Saqib Iqbal AhmedNEW YORK, June 5 (Reuters) - The dollar steadied against a basket of currencies on Monday, recovering from a near a seven-month low hit on Friday,...Read More
* U.S. factory orders drop, U.S. services index slips* Markets closely watching Qatar situation (Updates prices, adds comment)By Gertrude Chavez-DreyfussNEW YORK, June 5 (Reuters) - U.S. Treasury debt prices fell on Monday in thin trading, as investors booked profits after gains the previous session on a U.S. employment report that underwhelmed expectations and suggested a more cautious Federal Re...Read More
* Oil falls as Qatar rift threatens output cuts* Sterling recovers as investors focus on election* Wall Street stocks dip after falls in oil, European market* Thursday's ECB meeting keeps lid on euro zone bond yields* Gold retreats after six-week high on Friday's U.S. jobs report (Adds settled oil prices; updates throughout)By Hilary RussNEW YORK, June 5 (Reuters) - World equity markets fell with...Read More
(Kitco News) - Gold remains bid after Friday's short-covering rally on a weaker jobs number. Theterror attack over the weekend in London has created more uncertainty on theoutcome of the British election on Thursday,and the ECB meeting on Thursday will be closely watched for signals from MarioDraghi on monetary policy. The overall market has a sense of nervousness thatcontinues to encourage fund m...Read More
By Devika Krishna Kumar | NEW YORKOil prices fell about 1 percent on Monday on concerns that the cutting of ties with Qatar by top crude exporter Saudi Arabia and other Arab states could hamper a global deal to reduce oil production.Saudi Arabia, the United Arab Emirates, Egypt and Bahrain closed transport links with top liquefied natural gas (LNG) and condensate shipper Qatar, accusing it of supp...Read More
By Noah Browning | DUBAIThe Arab world's biggest powers cut ties with Qatar on Monday over alleged support for Islamists and Iran, reopening a festering wound two weeks after U.S. President Donald Trump's demand for Muslim states to fight terrorism.Saudi Arabia, Egypt, United Arab Emirates and Bahrain severed diplomatic relations with Qatar in a coordinated move. Yemen, Libya's eastern-based gover...Read More
LONDON, June 5 (Reuters) - Stellar Diamonds has agreed to sell its Guinean assets to BDG Capital Limited for $2 million to allow it to focus on a bigger mine in Sierra Leone that could begin producing diamonds next year, its CEO said on Monday.Small-cap Stellar Diamonds said its Tongo-Tonguma project in Sierra Leone has the potential to generate earnings of $45 million a year and focusing on its d...Read More
Later this month, I will be launching my new subscription service here on Seeking Alpha, the Stock & Gold Market Report.But I have a top investment idea for June to share with subscribers, so I'm doing an Early Bird launch of my service right now.As a bonus, you will also get another stock pick: "My Favorite Junior Natural Resource Stock In The World Right Now.".In addition, you will get two regul...Read More
One of the three attackers who killed seven people near London Bridge on Saturday night was previously investigated by British security services but had not been viewed as a serious threat, British police said on Monday.Khuram Shazad Butt, aged 27, was a British citizen born in Pakistan, who was already known to police and Britain's domestic spy agency MI5, London's police force said."However, the...Read More
Gold prices scored a second-straight session of gains Monday, holding ground at a six-week high as global markets absorbed weekend terrorist attacks in London and investors awaited the outcome of the European Central Bank meeting and U.K. general election later this week. August gold GCQ7, +0.08% rose $2.50, or 0.2%, to settle at $1,282.70 an ounce-the highest since April 21, according to FactSet...Read More
President Donald Trump will not invoke executive privilege to block former FBI Director James Comey's scheduled testimony before Congress this week, the White House said on Monday."In order to facilitate a swift and thorough examination of the facts sought by the Senate Intelligence Committee, President Trump will not assert executive privilege regarding James Comey's scheduled testimony," White H...Read More
By Andrew MacAskill and Lawrence WhiteLONDON, June 5 (Reuters) - Royal Bank of Scotland is refusing to raise its offer to shareholders still suing the bank over its 2008 share sale, sources with knowledge of the matter said, leaving the claimants in a race to raise 3 million pounds ($3.9 million) to proceed with the case.Chief Executive Ross McEwan told shareholders they face a take-it-or-leave it...Read More
(Recasts with police investigation of leaked emails)By Mfuneko Toyana and TJ StrydomJOHANNESBURG, June 5 (Reuters) - South Africa's elite police unit opened an inquiry on Monday after thousands of emails relating to alleged fraud in awarding government contracts were leaked, adding to a graft scandal that has deepened splits in the ruling African National Congress.Last week, AmaBhungane, a non-pr...Read More
(Kitco News) - Investors continueto take a cavalier attitude to economic risks, piling into equities, but onemajor gold fund sees the market at an important precipice that could benefitthe yellow metal.In itsannual In Gold We Trust report, managers at Incrementum AG warned thatinvestors are ignoring growing risks of a recession or the potential for theU.S. economy to fall into a stagflation scena...Read More
(Adds background)BERLIN, June 5 (Reuters) - International Monetary Fund Managing Director Christine Lagarde has offered Greece's European creditors a way out of their impasse over Athens' debts that would allow the euro zone to release a tranche of aid later this month.The IMF believes Greece needs a debt haircut, which Germany rejects. Lagarde suggested agreeing a deal whereby the IMF would stay...Read More
MONTEVIDEO, June 5 (Reuters) - Consumer prices in Uruguay rose 0.13 percent in May from the prior month, government data showed on Monday, bringing the country's 12-month inflation rate to 5.58 percent. That marked the third straight month in which inflation was in the central bank's target range of 3 to 7 percent. The 12-month rate entered the target range for the first time since 2010 in March.(...Read More