By Phil Stewart | WASHINGTONThe Pentagon on Tuesday renewed praise of Qatar for hosting a vital U.S. air base and for its "enduring commitment to regional security," sticking to a message of reassurance even as President Donald Trump, via Twitter, applauded a decision by Arab powers to cut ties to the Gulf ally.It was the latest example of the tightrope that U.S. officials are walking as Trump's t...Read More
President Donald Trump's proposed budget has generated hysteria among the American left. Prominent progressives have accused the president and his allies of wanting to kill children, senior citizens, and other vulnerable Americans. The reaction of the president's allies - including some conservatives who should know better - is equally detached from reality as they hail Trump for launching a major...Read More
(Kitco News)- U.S. Mint sales data show gold bullion demand is seeing itsweakest first half in 10 years, but one analyst expects sales to pick up in thesecond half of the year as consumers adjust to stable prices.As of the end of May, the U.S. Mint reported sales of 172,000ounces of gold in various denominations of American Eagle gold bullion coins, adecline of almost 51% compared to 351,000 ounce...Read More
ASUNCION, June 6 (Reuters) - Paraguay's economic output grew 6.6 percent year over year in the first quarter of 2017 and grew 3.4 percent compared with the fourth quarter of last year, central bank officials told a news conference on Tuesday. The figures were in line with the bank's expectation for 4.2 percent growth in full-year 2017. First quarter growth was propelled by commerce, services, indu...Read More
By Jennifer AblanNEW YORK, June 6 (Reuters) - Jackson National, the largest U.S. provider of variable annuities, said in a filing on Tuesday it plans to remove Pimco's Total Return Bond investment strategy from Jackson National's product line-up and assign management of the $3.5 billion in that fund offering to Jeffrey Gundlach's DoubleLine Capital. The move would end Jackson National's nearly two...Read More
By Tom Finn and Sylvia Westall | DOHA/DUBAIU.S. President Donald Trump, wading into a deep rift among Arab states, said on Tuesday his trip to the Middle East was "already paying off", as governments there took a hard new line in accusing Qatar of funding militant groups.The campaign to isolate Qatar was disrupting trade in commodities from crude oil to metals and food, and deepening fears of a po...Read More
MILAN, June 6 (Reuters) - The potential collapse of two Italian regional banks could impact both the country's economy and its government bonds, the Chief Executive of Intesa Sanpaolo said on Tuesday.Banca Popolare di Vicenza and Veneto Banca, both based in the north-eastern Veneto region, have requested a state bailout to help fill a combined capital shortfall of 6.4 billion euros ($7.21 billion)...Read More
A man armed with a hammer shouted "this is for Syria" before attacking police officers on Tuesday outside France's Notre Dame cathedral in Paris, the interior minister said.The assailant wounded one officer before he was shot and wounded by other officers. The Paris prosecutor's office swiftly began a counter-terrorism investigation.Interior Minister Gerard Collomb said the attacker was carrying t...Read More
The U.S. dollar index has given back all the gain since Trump's election last November.Meantime, geopolitical uncertainty is helping to drive gold higher.Much of the geopolitical uncertainty is due to the Trump administration itself. And it appears to be growing on a daily basis.The US$ Index is down again today and has now retraced all of the gains made since President's Trump election last N...Read More
By Corina PonsCARACAS, June 6 (Reuters) - A Venezuelan state-owned bank is offering $5 billion worth of sovereign bonds maturing in 2036 at a discount of up to 80 percent to several Wall Street funds, according to a lawmaker and a finance industry source.The move is part of the embattled socialist government's strategy to raise fresh funds to support the crisis-stricken economy by selling bonds, g...Read More
Polyus PJSC is selling shares worth at least $700 million as Russia's largest gold producer seeks to meet Moscow's stock-listing rules and raise cash.At least 7 percent of the company will be offered through a combination of new and existing shares owned by billionaire Suleiman Kerimov's family, according to a statement on Monday. Some of the shares will be traded as global depository receipts on...Read More
Many gold investors have been confused this year by the divergence between the solid performance of gold itself and the shaky performance of gold miner stocks.The answer can be found in the much lower volatility of the gold price in 2017 compared to 2016.Gold miner stocks offer excellent leverage to a rapidly rising gold price, but not so much for a slowly rising gold price.The disappointing perfo...Read More
LJUBLJANA, June 6 (Reuters) - Slovenia will probably not go ahead with plans to sell a stake in the country's largest bank, state-owned Nova Ljubljanska Banka (NLB), at present, Deputy Prime Minister Karl Erjavec said on Tuesday.Slovenia had committed to sell 50 percent of NLB this year and another 25 percent in 2018 in exchange for the European Commission's approval of state aid for the bank in 2...Read More
* Two market transactions worth combined 2 bln euros* Bayer to shift 530 mln in Covestro shares into pension fund* Bayer says to keep majority of voting rights for now* Still aims to reduce stake to zero over medium term (Adds details, new percentage to be disclosed at later stage, voting rights)By Ludwig BurgerFRANKFURT, June 6 (Reuters) - Bayer AG set out on Tuesday to reduce its stake in plasti...Read More
(Kitco News) - Gold pricesended the U.S. day session solidly higher and hit a seven-week high Tuesday.Prices are within easy striking distance of the key $1,300.00 mark. Bullishcharts, a weak U.S. dollar and safe-haven demand are all working in favor ofthe gold market bulls, at present. Meantime, silver prices notched a five-weekhigh and are in a near-term uptrend. August Comex gold was last up $1...Read More
On Tuesday, the return of the safe haven buyer and a weaker US dollar combined to lift the metal to its highest level since the election of Donald Trump on November 8.Gold futures in New York for delivery in August, the most active contract, touched a high of $1,298.80, up more than 1% in heavy volume of more than 24m ounces, before pairing some gains in afternoon trade. Gold is up 12.8% so far i...Read More
BUENOS AIRES, June 6 (Reuters) - Argentina's 12-month inflation rate will be below 25 percent in May and fall to 21 percent or 22 percent by July, central bank President Federico Sturzenegger said on Tuesday. Government statistics agency Indec is expected to publish May inflation data on Thursday. Twelve-month inflation in April was 27.5 percent. The central bank is targeting inflation of 12-17 pe...Read More
* Former FBI director to testify before Congress on Thursday* UK election outcome, ECB meeting also on same day* Wal-Mart hit as Amazon discounts some Prime subscriptions* Indexes down: Dow 0.10 pct, S&P 0.13 pct, Nasdaq 0.06 pct (Updates to early afternoon)By Tanya AgrawalJune 6 (Reuters) - U.S. stocks were slightly lower in early afternoon trading on Tuesday as investors shunned riskier assets a...Read More
WASHINGTON, June 6 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Tuesday that the Trump administration's approach to improving its economic relationship with China prioritizes specific issues rather than a bilateral investment agreement."I think what we're looking for is, opposed to just negotiating a large agreement, we're looking to negotiate very specific issues that deal with mark...Read More
By Bruno FederowskiSAO PAULO, June 6 (Reuters) - Yields on Brazilian interest rate futures contracts fell on Tuesday after the minutes from the central bank's latest policy meeting reaffirmed its intention of slowing down the pace of rate cuts next month.According to the meeting minutes released on Tuesday, the bank's growing uncertainty over President Michel Temer's reform agenda prompted policym...Read More