BERLIN (Reuters) - Germany will expel four Russian diplomats over Moscow's suspected involvement in the poisoning of former Russian double agent Sergei Skripal in England, Germany's Sueddeutsche Zeitung reported on Monday.Moscow has denied responsibility for the March 4 attack on Skripal and his daughter, the first known offensive use of a nerve toxin in Europe since World War Two. Britain expelle...Read More
(Kitco News)- Gold continues to trade in the pattern that has developedsince the Fed began raising rates. This consists ofa weakening pattern into the anticipated Fed meeting, a blip lower onthe announcement and then a strong rally. We suggested that gold wouldpotentially see a $1,307 print ahead of the announcement, with a suggestion toenter, when the news broke. The initial bounce to the $1,327...Read More
(Kitco News) - Gold continues to trade in the pattern that has developed since the Fed began raising rates. This consists of a weakening pattern into the anticipated Fed meeting, a blip lower on the announcement and then a strong rally. We suggested that gold would potentially see a $1,307 print ahead of the announcement, with a suggestion to enter, when the news broke. The initial bounce to the $...Read More
Last week gold and silver heldthe bottoms, and both had big rallies. Gold rallied from $1,306, gaining almost$40, and silver rallied from $16.10, gaining 55 cents. The real question: canthese rallies hold and go higher or are they just testing the upper end of theranges they have been in for the last couple of months.The answer is complicated. Theycertainly can break out to the upside, but based o...Read More
(Kitco News) - Gold pricesare slightly lower in early U.S. trading Monday, on a normal, correctivepullback from recent good gains and after hitting a five-week high overnight. April Comex gold futures were last down $1.70 an ounce at $1,348.20.May Comex silver was last up $0.048 at $16.63 an ounce.Worldstock markets were mostly higher overnight. U.S. stock indexes are pointedtoward solidly higher...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
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
Traders should be prepared for two possible SPX scenarios this week"If you draw trendlines connecting the SPX lows in February and early March, and the late-January and late-February highs, both are converging at 2,740 to begin the week. If the SPX breaks below this level, the risk increases of a move down to this month's low just below 2,700."...I would not be surprised to see March futures VIX s...Read More
Barrick Gold Corp, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines.Shares in the Canadian miner declined 15 percent last year, even as the price of gold gained 11 percent. In 2017 Barrick had a third cyanide spill in 18 months at its Veladero mine in Argentina and struggled...Read More
(Reuters) - Remington Outdoor Co Inc [FREDM.UL], one of the largest U.S. makers of firearms, filed for bankruptcy protection on Sunday to carry out a debt-cutting deal with creditors amid mounting public pressure for greater gun control.The company’s chief financial officer, Stephen Jackson, said in court papers that Remington’s sales fell significantly in the year before its bankruptc...Read More
BEIJING (Reuters) - Executives from Apple Inc and IBM Corp have called for more oversight on how personal data is used following the Facebook Inc breach that saw roughly 50 million users’ data misused by consultancy Cambridge Analytica.Speaking at the three-day China Development Forum in Beijing, Apple chief Tim Cook said “well-crafted” regulation was required, while IBM Corp chi...Read More
(This March 25 story has been corrected to remove reference to level of trust being lost over time)By David Ingram and Eric AuchardSAN FRANCISCO/LONDON (Reuters) - Opinion polls published on Sunday in the United States and Germany cast doubt over the level of trust people have in Facebook over privacy, as the firm ran advertisements in British and U.S. newspapers apologizing to users.Fewer than ha...Read More
TOKYO (Reuters) - U.S. S&P 500 mini futures rose more than 1 percent on Monday, with broad risk aversion that shook financial markets last week easing a little following reports that suggested the United States and China were seeking trade solutions.The Wall Street Journal reported on Monday that Beijing and Washington have started negotiating to improve U.S. access to Chinese markets, followi...Read More
BRUSSELS (Reuters) - The European Union began a study on Monday on whether the import tariffs imposed by U.S. President Donald Trump warranted action to prevent predominantly Asian producers flooding Europe with steel.Trump’s tariffs, of 25 percent on steel and 10 percent on aluminum, came into force last Friday, although the European Union and six other countries secured temporary exemption...Read More
BEIJING (Reuters) - China is willing to hold talks with the United States to resolve their differences over trade, China's foreign ministry said on Monday, as alarm grows over a possible trade war between the world's two largest economies.Ministry spokeswoman Hua Chunying made the comments at a regular briefing in Beijing.Reporting by Ben Blanchard; Writing by Christian Shepherd; Editing by Robert...Read More
LONDON (Reuters) - The dollar held close to a 16-month low against the Japanese yen on Monday as investors remained wary about the greenback’s outlook, though a rebound in U.S. stock futures offered some support to relatively high-yielding currencies also including the Australian dollar.With positioning against the dollar at a one-year high, according to CFTC data, and the greenback posting...Read More
The threat ofrising U.S. tariffs on imported goods has a number of positive implications forgold, says Mitsubishi. Gold benefited late last week on news that the Trumpadministration is planning trade sanctions against China, with potential for atrade war. “Firstly, higher tariffs will raise the cost of goods and thereforeadd to inflation, which would be positive for gold and precious metals...Read More
Last week gold and silver held the bottoms, and both had big rallies. Gold rallied from $1,306, gaining almost $40, and silver rallied from $16.10, gaining 55 cents. The real question: can these rallies hold and go higher or are they just testing the upper end of the ranges they have been in for the last couple of months. The answer is complicated. They certainly can break out to the upside, but b...Read More
Silver producer Hecla Mining (NYSE: HL) is taking Montana environmental regulators to court for labelling the company and its top executive as "bad actors," while giving them 30 days to iron out a complaint that accuses them of violating the state's mine clean-up laws.The Montana Department of Environmental (DEQ) notice to the company, which could require it to pay up to $30 million, focuses on s...Read More
Silver producer Hecla Mining (NYSE: HL) is taking Montana environmental regulators to court for labelling the company and its top executive as "bad actors," while giving them 30 days to iron out a complaint that accuses them of violating the state's mine clean-up laws.The Montana Department of Environmental (DEQ) notice to the company, which could require it to pay up to $30 million, focuses on s...Read More