(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
* Graphic: Sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote (re-leads, updates prices)By Ritvik Carvalho and Jemima KellyLONDON, June 5 (Reuters) - Sterling rose to its highest in ten days against the dollar on Monday, with investors taking comfort from a opinion poll that gave Britain's ruling Conservative Party a comfortable lead ahe...Read More
MOSCOW -- Polyus PJSC, Russia's largest gold producer, announced a return Monday to the London Stock Exchange following a two-year hiatus. The company said the offering would comprise at least 7% of its issued share capital. Polyus has a market capitalization of $9.9 billion on the Moscow Exchange. The company delisted in 2015 to ensure its eligibility to bid for the Sukhoi Log deposit, one of the...Read More
The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world's largest economy remains stuck around the 1% level."Following the notion of mean reversion, we should be seeing attractive investment opportunities"In contrast the S&P GSCI All Commodities index is flat so far in 2017 although prices for energy, m...Read More
The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world's largest economy remains stuck around the 1% level."Following the notion of mean reversion, we should be seeing attractive investment opportunities"In contrast the S&P GSCI All Commodities index is flat so far in 2017 although prices for energy, m...Read More
* Herbalife falls after cutting current-quarter forecast* Apple slips after rating cut; top drag on all three indexes* Oil prices fall after Arab states cut ties with Qatar* Indexes down: Dow 0.02 pct, S&P 0.07 pct, Nasdaq 0.13 pct (Updates to early afternoon)By Tanya AgrawalJune 5 (Reuters) - Wall Street edged lower in early afternoon trading on Monday as Apple weighed on all the three major inde...Read More
(Kitco News) - Gold prices were ending the U.S. day session modestly higher and hit a six-week high Monday. Geopolitical developments in the Middle East and an increasingly bullish near-term technical posture are prompting trader and investor buying interest. Gold prices are now within striking distance of the key $1,300.00 mark. August Comex gold was last up $1.70 an ounce at $1,281.90. July Come...Read More
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 on board in the b...Read More