Gold Prices Steady On UK Election Risk; ECB and Geopolitical Riskby Reuters* Gold prices could see strong intraday volatility - analyst* UK election, Ex-FBI director testimony, ECB meeting set for later in the day* Downside for gold is "limited" (especially in sterling)Gold held steady on Thursday as investors awaited cues on market direction amid a number of geopolitical events later in the day...Read More
Gold Today -New York closed at $1,293.20 yesterday after closing at $1,293.80 Tuesday. London opened at $1,284.00 today. Overall the dollar was slightly stronger against global currencies, early today. Before London's opening: - The $: EUR was slightly stronger at $1.1232 after yesterday's $1.1254: EUR1.- The Dollar index was stronger at 96.89 after...Read More
UK elections, European central bank meeting and US economic data releases will all affect metals and energies sector. Volatility will be very high. I am against buying gold unless it breaks and trades over $1303. I am against buying silver unless it breaks and trades over $17.81. Crude oil see a big sell off only if it trades below $45.50 and more so in US session. Currencies will affect bulli...Read More
Full Article: Gold Investing: Jobs Report TacticsBy: Stewart ThomsonGold tends to become a rather dull market as the summer approaches. Will this year be different?The summer doldrums are caused by seasonal softness in Eastern jewellery demand, but the next major Fed rate hike announcement and commentary is just two weeks away.Full Article: Gold Investing: Jobs Report TacticsBy: Stewart ThomsonD...Read More
Full Article: In gold we trustBy: Frank HolmesWith the U.S. dollar taking another hit last Friday on a weaker-than-expected jobs report, gold closed up 1.12 percent for the day. A Bloomberg gauge of 72 junior miners, however, has lost 15 percent since the end of January, and the rebalance of the VanEck Vectors Junior Gold Miner ETF (GDXJ), which I previously wrote about, is also having a depressi...Read More
The Dow Jones Industrial Average is trading at all-time highs. The NASDAQ and the S&P 500 are similar. This begs many questions.Are the high stock prices supported by fundaments or have they been levitated with "easy money?"Bubbles always collapse and prices crash. Stock indices are too high, but are they in historical bubble territory?What about gold, silver, real estate and bonds? Are they also...Read More
* Euro steady ahead of ECB policy meeting* Sterling trades near 2-week high before UK election* Dollar recovers from 7-week low vs yen SINGAPORE, June 8 (Reuters) - The euro held steady on Thursday ahead of the European Central Bank's policy announcement, while sterling was supported by expectations that Prime Minister Theresa May's party will win a majority in Britain's election.The common curre...Read More
(Removes extraneous word from second paragraph)* Q1 GDP revised to annualised +1.0 pct vs prelim +2.2 pct* Capex +0.6 pct q/q vs prelim +0.2 pct; inventory revised down* Private consumption +0.3 pct vs prelim +0.4 pct* Export-led growth needs to spread to domestic demand -analysts By Tetsushi KajimotoTOKYO, June 8 (Reuters) - Japan's economic growth in the January-March period was severely revis...Read More
European companies that specialize in storing precious metals are seeing a boom in demand, this according to a report by Bloomberg.Geopolitical uncertainty and accelerating inflation are contributing to the popularity of safe-haven assets, such as gold, which is driving the demand for high-security storage, with many firms looking to expand their capacity."Inflation is a key concern for many of ou...Read More
By Craig HemkeIn what should come as no surprise to anyone around here, The Banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now The Banks are working their alchemic magic in Comex Digital Gold, too.Frankly, I'm not even sure why I'm taking the time to write about this. You kno...Read More
- Gold prices break 6 year down trend on safe haven demand (see charts)- Chinese gold demand set to surge 50% to 1,000 metric tonnes- Chinese demand for gold bars on track to surge more than 60 percent in 2017- Geopolitical risk internationally leading to safe haven demand- UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran toda...Read More
Gold Today -New York closed at $1,293.80 yesterday after closing at $1,279.60 Monday. London opened at $1,292.65 today. Overall the dollar was slightly weaker against global currencies, early today. Before London's opening: - The $: EUR was slightly weaker at $1.1254 after yesterday's $1.1246: EUR1.- The Dollar index was slightly weaker at 96.68 afte...Read More
It seems all terror attacks in democratic nations happen before an election. I rarely find any terrorist attack after an election. I am confident that once UK and German elections are over, Europe will not see terror attacks for quite a long time. In Europe or the UK all terrorists were known to the law enforcement agencies and still they slept. It is very easy to radicalize anyone these days. G...Read More
June 8 (Reuters) - For other diaries, please see:Top Economic Events Polling unit diary Today in Washington Political and general news DATECOUNTRYAUCTION DETAILS8-JunSweden Auction of inflation-linked government bond8-JunJapan3-month discount bill auction8-JunJapanAuction of 5-year government bonds 12-JunUnited StatesSale of 3-year notes 12-JunUnited StatesSale of 10-year notes 12-JunItalyBills au...Read More
Wednesday was a day spent in wait: not only for the highly anticipated public testimony from former FBI director James Comey, but also a decision on eurozone monetary policy and the U.K. election. Investors' patience made for noncommittal trading on Wednesday with stocks veering between the green and red before settling with slight gains. The S&P 500 was up 0.15%, the Dow Jones Industrial Ave...Read More
By Orathai SriringBANGKOK, June 8 (Reuters) - If recent history is anything to go by, letting Thais invest more money abroad is unlikely to spur major outflows, and that will mean continued firmness for the baht currency - and continuing frustration for Thai exporters. Authorities in Thailand, which has large current-account surpluses, are trying to get citizens to invest elsewhere, to help contai...Read More
TOKYO, June 8 (Reuters) - Japan's economy expanded at an annualised rate of 1.0 percent in the January-March period, revised down from a preliminary estimate of a 2.2 percent growth, Cabinet Office data showed on Thursday.The revised gross domestic product (GDP) data compared with the median forecast of a 2.4 percent expansion in a Reuters poll of economists.The figure translates into a quarter-on...Read More
North Korea fired what appeared to be multiple land-to-ship missiles off its east coast on Thursday, South Korea's military said, the latest in a fast-paced series of missile tests defying world pressure and threats of more sanctions.The launches comes less than a week after the United Nations Security Council passed fresh sanctions on the reclusive state, which said it would continued to pursue i...Read More
* ECB seen leaving policy unchanged* Likely to trim inflation forecasts* Seen dropping reference to downside risks By Balazs Koranyi and Francesco CanepaFRANKFURT, June 8 (Reuters) - The European Central Bank is likely to keep the money taps fully open at its meeting on Thursday as inflation remains below its target despite stronger economic growth in the euro zone.The currency bloc's economy has...Read More
MEXICO CITY, June 7 (Reuters) - Mexican lender Banco del Bajio, due to debut on the local stock exchange on Thursday, will place its shares at the upper end of the planned price range, and demand for the stock is around four times oversubscribed, four market sources said on Wednesday. Banco del Bajio, which is based in the central city of Leon, said last month it hoped to raise around $490 million...Read More