NEW YORK (Reuters) - The dollar fell to three-week lows on Thursday as strong German industrial orders boosted the euro while U.S. data showed private sector jobs rose less than expected in June, weighing on the greenback along with nagging trade concerns.In recent weeks, the dollar benefited from mounting trade tensions, said John Doyle, director of markets, at Tempus Consulting in Washington. &l...Read More
Gold had a nice bounce on Tuesday,pushing as high as $1,258 before seeing a little selling pressure but stillmanaging to close at $1,253. On Wednesday with the markets closed forIndependence Day, gold got to $1,263 in the Globex session.The real question - is this adead-cat bounce or has gold bottomed? The next couple of days will give us theanswers we are looking for. If gold fails from here, the...Read More
* U.S. tariffs on China set to take effect on Friday* Chipmakers lead tech stocks higher* Indexes up: Dow 0.5 pct, S&P 0.6 pct, Nasdaq 0.9 pct (Updates to late afternoon, changes byline, adds NEW YORK dateline)By April JoynerNEW YORK, July 5 (Reuters) - U.S. stocks slightly pared gains on Thursday after the release of minutes from the Federal Open Market Committee’s June meeting, though...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
Jason LangeWASHINGTON, July 5 (Reuters) - U.S. central bankers discussed whether recession lurked around the corner and expressed concerns global trade tensions could hit an economy that by most measures looked strong, minutes of the Federal Reserve’s last policy meeting on June 12-13 released on Thursday showed.The minutes, which described a meeting in with the Fed raised interest rates for...Read More
NEW YORK (Reuters) - Stock markets in Europe and the U.S. advanced on Thursday as reassuring economic data from Germany and a report that its big carmakers could be spared from U.S. tariffs offset another gloomy session for Asia.Shares of Mercedes-maker Daimler, BMW, Porsche PSHG_P.DE and Volkswagen (VOWG_p.DE) surged as much as 5 percent after reports of a U.S. offer to suspend tariff threats on...Read More
Elias Glenn, David LawderBEIJING/WASHINGTON (Reuters) - China accused the United States on Thursday of “opening fire” on the world with tariffs set to take effect on Friday, warning that it will respond the moment that duties on $34 billion in Chinese goods kick in.U.S. President Donald Trump has threatened to further escalate the trade conflict between the world’s two largest ec...Read More
Metal Bulletin proposes to divide its existing 0.10% C low-carbon ferro-chrome product into two products according to chromium content. At present Metal Bulletin includes all price points for low-carbon ferro-chrome with a carbon and chromium content of 0.10% and 60-70% chrome respectively into the existing low-carbon ferro-chrome (0.10% C avg 60-64.9% Cr) delivered consumer works Europe $/lb...Read More
(Reuters) - U.S. central bankers discussed whether recession lurked around the corner and expressed concerns global trade tensions could hit an economy that by most measures looked strong, minutes of the Federal Reserve’s last policy meeting on June 12-13 released on Thursday showed.The minutes, which described a meeting in with the Fed raised interest rates for the second time this year, al...Read More
(Reuters) - The Federal Reserve bought $3.007 billion of agency mortgage-backed securities in the weekfrom Jun. 28 to Jul. 4, compared with $2.589 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.In a move to help the housing market begun in October 2011, the U.S. central bank has been using funds from principal paymentson the agency debt and agency mortgage-...Read More
(Kitco News)- Gold prices continue to hold modest gains despite surgingmomentum in the U.S. service sector, according to the latest data from theInstitute of Supply Management (ISM).Thursday, the ISM said its Non-manufacturing Purchasing Managers Indexshowed a reading of 59.1% in June up from May's reading of 58.6%. The increasewas well above expectations as consensus forecasts were calling for a...Read More
(Kitco News) - Gold and silver prices aremodestly higher in early U.S. trading Thursday, on some more short covering inthe futures markets and perceived bargain hunting in the cash markets afterboth metals hit multi-month lows earlier this week. Traders are awaiting thisafternoon’s minutes from the latest meeting of the Federal Open MarketCommittee (FOMC). Augustgold futures were last up $2....Read More
India’s gold demand has been soft compared to the same period of 2017, Commerzbank reports.Analysts cite preliminary data showing that India, the world’ssecond-largest gold consumer after China, imported 54 tonnes of the preciousmetal in June, roughly a quarter lower than the same month a year ago. Datafrom India’s Ministry of Finance show that gold imports slumped by 40% to 343t...Read More
- Is the currency reset or global monetary reset (GMR) upon us? - Russia sold half their Treasuries in April and bought 600k ozs of gold in May - China has stopped buying US Treasurys and PBOC is quietly accumulating gold bullion - China has over $3 trillion in foreign exchange reserves and Russia has $461 billion - Physical gold market is finite and tiny vis-?-vis the fx markets and bond market...Read More
DETROIT/LONDON/SHANGHAI (Reuters) - Automakers are scrambling to ship vehicles to the United States to pre-empt possible higher tariffs, according to port data, port officials and logistics companies.Data from a number of U.S. ports showed a surge in vehicle exports and imports in May, as U.S. President Donald Trump ratcheted up pressure on China and Europe to drop tariffs on U.S. vehicles and mak...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump will discuss Russia’s “malign activity” during a summit with NATO leaders and follow up in a meeting Russian President Vladimir Putin to determine whether Moscow wants to reduce tensions, U.S. official said on Thursday.“The president believes a better relationship with Russia would be good for both America and Russia, but t...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
WASHINGTON (Reuters) - U.S. services sector activity picked up in June amid strong growth in new orders, but trade tariffs and a shortage of workers were starting to strain the supply chain, which could slow momentum in the coming months.While other data on Thursday showed private payrolls rising less than expected last month and a surprise increase in new applications for unemployment benefits la...Read More
NEW YORK (Reuters) - Stock markets in Europe and the U.S. advanced on Thursday as reassuring economic data from Germany and a report that its big carmakers could be spared from U.S. tariffs offset another gloomy session for Asia.Shares of Mercedes-maker Daimler, BMW, Porsche PSHG_P.DE and Volkswagen (VOWG_p.DE) surged as much as 5 percent after reports of a U.S. offer to suspend tariff threats on...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More