* Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote By Jemima KellyLONDON, March 2 (Reuters) - Sterling steadied close to aseven-week low against the dollar on Friday, as traders eyed aspeech from Prime Minister Theresa May on her plans for a tradedeal with the European Union.May will in the early afternoon set out her vision for aBrexit deal deeper and wider tha...Read More
Google is being sued by a former employee who claims he was fired for not rejecting white and Asian male job applicants. Continue...Read More
As a general rule, the most successful man in life is the man who has the best informationWhile there is disagreement over its causes - man-made versus natural - the reality of climate change is an incontrovertible fact. The planet is warming, affecting our weather, our oceans, our growing seasons, even our food, as crops fail, causing shortages and price hikes. Storms are becoming more frequent...Read More
The US dollar has fallen rather sharply over the past year or so, despite ongoing Fed rate hikes. This persistent dollar weakness has really boosted gold. There's a fascinating interplay between these two currencies and futures speculators' expectations for Fed rate hikes. These traders hang on every word from top Fed officials, which greatly influences their trading. So these relationship...Read More
Some coated coil producers in Turkey have raised their prices this week, but market participants were expecting prices to increase further.Domestic pricesOne Northern Turkish producer was offering hot-dipped galvanized (HDG) coil in 0.50mm gauge at $830 per tonne ex-works this week, while a second producer in the same region was fully booked until late May and did not offer any price.https://www.m...Read More
The US dollar hasfallen rather sharply over the past year or so, despite ongoing Fed ratehikes. This persistent dollar weaknesshas really boosted gold. There’s afascinating interplay between these two currencies and futures speculators’expectations for Fed rate hikes. Thesetraders hang on every word from top Fed officials, which greatly influencestheir trading. ...Read More
CloseGain/LossOn WeekGold $1321.90+$6.60-0.56%Silver$16.51+$0.02-0.06%XAU78.75-0.23%-2.21%HUI172.99-0.16%-2.11%GDM601.93+0.02%-1.94%JSE Gold1107.57+41.26+1.65%USD89.94-0.33+0.02%Euro123.28+0.62+0.24%Yen94.66+0.42+0.95%Oil$61.25+$0.26-3.62%10-Year2.860%+0.053-0.24%Bond144.3125-1.03125+0.13%Dow24538.06-0.29%-3.05%Nasdaq7257.87+1.08%-1.08%S&P2691.25+0.51%-2.04% The Metals: Gold rose $10 to $1...Read More
March 2 (Reuters) - Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust , rose 0.35 percent on Thursday from Wednesday, while the largest silver-backed ETF, New York's iShares Silver Trust , remained unchanged during the same period.Exchange-traded funds, the most widely recognized type of ETP, back each security issued with physical stocks of a given commodi...Read More
You might be wondering why the US government would fund a tool that limited its own power? The answer is that Tor didn't weaken American power. It enhanced it.Continue...Read More
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(Bloomberg) - Eike Batista, the former billionaire who lost his fortune and spent time in jail for alleged corruption, has a new headache: a lawsuit from his ex-wife.Luma de Oliveira, a former model and actress who famously wore a collar with Batista's name during a Carnival parade, filed suit against the former billionaire for allegedly failing to declare the full value of his assets when they e...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort251,98173,26372,017161,527361,323485,525506,603Change from Prior Reporting Period -5,2246,9804,3816,614-8,4685,7712,893Traders17378834658255187 Small Speculators LongShortOpen Interest 47,33526,257532,860 -1,0651,8134,706 non reportable positionsChange from the previous reporting...Read More
Onemonth after the February stock market rout is an excellent time to step backand review all the facts – and their implications for the gold market. Here’sexactly what happened – and what it implies for your capital allocation.Aftermore than a year of continuously advancing, the S&P 500 fell nearly 10percent in five days.Thesell-off was allegedly triggered by the surprisingl...Read More
Flat steel prices in Turkey's domestic, import and export markets kept increasing this week amid strong demand, market participants told Metal Bulletin on Friday March 2.Local producers were fully booked until the middle of May, and were not giving discounts.Domestic pricesHot-rolled coil (HRC) producers in Turkey have been offering material at $660-670 per tonne ex-works for May production, up fr...Read More
This article was written for Miles Franklin by Gary Christenson. Link is here.Financial sacrifices are so obvious and commonplace they are seldom acknowledged.Borrowing money on a credit card, mortgage or car loan to purchase something is typical. You have sacrificed future spending for use in the present.1) If the purchase, financed by debt, increases income more than the cost of debt ser...Read More
"I'd wonder if this isn't just a first step, that Trump has in mind raising other tariffs. Even if he doesn't there will be other countries who will retaliate and they'll get bigger. This is really like a first shot in a war and that's what is worrisome."Robert Shiller is an American economist, academic, and best-selling author. He currently serves as a Sterling Professor of Economics at Yale Univ...Read More
Chile, the world's No. 1 copper producer and one of the top lithium suppliers, is expected to attract about $60 billion in new mines and expansions over the next 20 years, the country's minister of mining says.According to Aurora Williams, miners with operations in the country currently spend $15 billion on support services a year, so the government has set an ambitious goal of helping locals to...Read More
* Spot gold may bounce more into $1,325-$1,332/oz -technicals* Spot gold heads for second straight weekly drop (Updates prices)By Eileen SorengMarch 2 (Reuters) - Gold prices rose slightly on Friday asthe dollar eased on fears of an imminent trade war followingU.S. President Donald Trump's decision to impose steep tariffson imported steel and aluminium.Spot gold had risen by 0.1 percent to $1,317....Read More
- Global stocks slump as Trump risks trade wars- Gold prices little changed despite dollar weakness after tariff news- Trump announced plans to impose heavy tariffs on imported metals- China likely to retaliate with heavy tariffs on U.S. agricultural exports- Geo-political tensions with EU and of course China and Russia to escalate- Trade, currency wars and competitive currency devaluations tend...Read More
Mike Gleason: It is my privilege now to welcome back Michael Pento, president and founder of Pento Portfolio Strategies, and author of the book The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market.Michael is a well-known money manager and a fantastic market commentator, and over the past few years has been a wonderful guest and one of our favorite interviews here on t...Read More