MOSCOW, June 5 (Reuters) - Russia is considering placing a sovereign Eurobond issue a week after a key rate decision scheduled for June 16, a government source familiar with the plans told Reuters on Monday. Moscow aimed to issue $3 billion in new debt and swap another $4 billion in outstanding Eurobonds for new ones, Finance Minister Anton Siluanov said last week. (Reporting by Elena Fabrichnaya;...Read More
(Kitco News) - Gold prices are holdingsteady near their session highs following a drop in momentum in the servicesector, according to the latest data from the Institute of Supply Management(ISM).Monday, the ISM saidits Non-manufacturing Purchasing Managers Index showed a reading of 56.9% in May, down from April'sreading of 57.5%. The drop was slightly below expectations as consensusforecasts were...Read More
* Herbalife falls after cutting current-quarter forecast* Apple marginally lower after rating cut* Indexes down: Dow 0.10 pct, S&P 0.15 pct, Nasdaq 0.14 pct (Updates to open)By Tanya AgrawalJune 5 (Reuters) - U.S. stocks were slightly lower in early trading on Monday as oil prices fell after Arab states cut ties with Qatar over alleged support for Islamists and Iran, while markets mostly shrugged...Read More
June 5 (Reuters) - The Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, on Monday fell for the 15th straight session, hurt by weak rates across all vessel segments.The overall index - which considers rates for capesize, panamax, supramax and handysize shipping vessels - fell 9 points, or 1.08 percent, to 821 points, its lowest level in over three m...Read More
TORONTO, June 5 (Reuters) - Canada's main stock index slipped at the open as oil prices, weakened by concerns of a diplomatic rift in the Middle East, hurt energy stocks, while financial stocks dipped amid signs of cooling in Toronto's overheated housing market.The Toronto Stock Exchange's S&P/TSX composite index fell 58.03 points, or 0.38 percent, to 15,384.72.Eight of the index's 10 main groups...Read More
June 5 (Reuters) - U.S. stocks were little changed at the open on Monday as investors shrugged off the weekend attacks in London, while awaiting a string of economic data.The Dow Jones Industrial Average fell 13.15 points, or 0.06 percent, to 21,193.14. The S&P 500 lost 2.09 points, or 0.08 percent, to 2,436.98. The Nasdaq Composite dropped 0.21 points, or -0 percent, to 6,305.58. (Reporting by Ta...Read More
(Kitco News) - June 5 - Gold prices advanced in earlytrading Monday. Waking up to the morning news every day in recent monthsdelivers fresh political, economic and geopolitical events that are goldbullish. From recent news of the FBI Director'sfiring, to weaker-than-expected May employment data to rising tensions in theMiddle East to North Korea missile tests, the headline events are driving goldh...Read More
MOSCOW, June 5 (Reuters) - The Russian central bank will consider cutting the key rate by 25 or 50 basis points at its board meeting on June 16, the bank's Governor Elvira Nabiullina said on Monday.Nabiullina said the central bank could raise an oil price assumption in its base forecast after OPEC and non-OPEC crude oil producers agreed to extend a deal on output cuts.The central bank last cut the...Read More
(Repeats to add additional subscribers and company instrument code)June 5 (Reuters) - Silm??asema Oyj: * REG-SILM?,,ASEMA OYJ'S PUBLIC OFFERING HAS BEEN OVERSUBSCRIBED AND THE SUBSCRIPTION PERIOD DISCONTINUEDSource text for Eikon: (Gdynia Newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every eff...Read More
Investing long term in precious metals stocks is a very bad idea (with a few very rare exceptions).On the other hand, there are periods when betting on precious metals shares makes sense; however, the problem is that these periods are becoming shorter and shorter.Since January 2016, GDX has been performing better than gold; this period has lasted quite a long time, so now we may be close to the en...Read More
UBS analysts arecalling weekend developments in India, including announcement of a 3% goods andservices tax on gold, as "a relatively subdued outcome" and "encouraging." TheGST tax was at the lower end of the range of expectations of 2% to 5%, the bankpoints out. No change was made to the gold import tax of 10%. "The GST on goldtherefore brings the total tax bill for gold slightly higher to 13% (1...Read More
* Herbalife falls after cutting current-quarter forecast* Apple marginally lower after rating cut* Futures down: Dow 22 pts, S&P 2.5 pts, Nasdaq 7.25 pts (Adds details, comment, updates prices)By Tanya AgrawalJune 5 (Reuters) - U.S. stocks were little changed on Monday as investors appeared to have shrugged off the weekend attacks in London, while awaiting a string of economic data.The third milit...Read More
(Kitco News) - Operations at First MajesticSilver Corp.'s (NYSE: AG; TSX: FR) La Encantada Silver Mine in Mexico willbe restarted on a phased-in basis during the coming weeks, the company said.Just ahead of the weekend, First Majestic Silver Corp. announced that it had reached atentative agreement with the National Union of Miners, Metallurgists,Steelworkers and Similar Workers of Mexico for the r...Read More
Stock futures moved lower on Monday morning, suggesting equities would retreat from records at the opening of trading, after a terror attack in London over the weekend. S&P 500 futures were down 0.1%, Dow Jones Industrial Average futures slid 0.11%, and Nasdaq futures declined 0.11%. Wall Street largely overlooked weaker-than-expected U.S. jobs growth in May on Friday, with major benchmark ind...Read More
(Kitco News) - The "fear of missing out" is pushing Bitcoin and EthereumCrypto Currencies to huge bubbles. The sustainability of these patterns has nochance of succeeding. That doesn't mean they won't be higher years from now butfor now these bubbles will pop and most likely have a mini collapse. Gold and silver are steady on support and look like they areturning into the next bull market. I am l...Read More
(Kitco News) - Gold prices aremoderately up and have hit a six-week high in early U.S. trading Monday. Somenew geopolitical developments in the Middle East and an increasingly bullishnear-term technical posture are prompting more trader and investor buyinginterest in the yellow metal. Gold prices are now within striking distance ofthe key $1,300.00 mark. August Comex gold was last up $5.40 an ounc...Read More
Shares in Canada's Osisko Gold Royalties (TSX, NYSE:OR) jumped Monday following the company's decision to buy a precious metals portfolio from US private equity firm Orion Mine Finance Group for Cdn$1.13 billion (about $834 million).The portfolio consists of 74 royalties, streams and precious metal offtakes, and its acquisition will result in Osisko holding a total of 131 royalties and streams, in...Read More
(Kitco News) - Osisko Gold Royalties Ltd (TSX, NYSE: OR) has agreed to acquire aprecious-metals portfolio, consisting of 74 royalties, streams and preciousmetal offtakes, from Orion Mine Finance Group for C$1.125 billion, the companyreported Monday.After the deal, Osisko would hold 131 royalties and streams,including 16 revenue-generating assets, the company said. The company'scornerstone assets r...Read More
A peaking money supply to saving ratio is a warning sign that the economic distortions created during the upward swing of the ratio could be revealed.It is especially at this time that gold's properties as a safe haven asset are primed to excel.Gold performed well in the aftermath of the two previous peaks in the MS/S ratio, especially compared to stocks.Savings are not only paramount for economic...Read More
U.K. politicians resumed election campaigning Monday following the weekend's deadly terrorist attack in London, with leaders likely to focus the final days of debate into Thursday's vote on national security. The Conservative, Labour and Liberal Democrat parties had suspended national campaigning Sunday after the London Bridge and Borough Market attacks as mark of respect for the seven people kil...Read More