TUNIS, Feb 14 (Reuters) - Tunisia's central bank governor, Chedli Ayari, said on state television on Wednesday that he has officially resigned.Prime Minister Youssef Chahed had earlier asked him to step down. (Reporting by Tarek Amara; Editing by Hugh Lawson) 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 e...Read More
(Adds quote, growth, deficit, debt load figures)ABIDJAN, Feb 14 (Reuters) - Ivory Coast has chosen the banks that will manage the issue of a new Eurobond - the West African nation's fourth in five years - and will announce details in the coming days, Prime Minister Amadou Gon Coulibaly said on Wednesday.Ivory Coast is one of a number of African nations - including Kenya, Nigeria and Ghana - which...Read More
Ann SaphirSAN FRANCISCO (Reuters) - Faster-than-expected inflation may complicate the task ahead for new Federal Reserve chief Jerome Powell, who chairs his first monetary policy-setting meeting next month.It’s not that the January increase in consumer prices reported on Wednesday is necessarily unwelcome news; the fact that underlying consumer prices posted their biggest gain in more than a...Read More
As we approach a long holiday weekend on Wall Street, Schaeffer's Senior Quantitative Analyst Rocky White ran the numbers to find out which S&P 500 Index (SPX) components tend to fare the best -- and worst -- during the post-Presidents Day trading week. Among the names with notable mid-February returns are travel sector cohorts Priceline Group Inc (NASDAQ:PCLN) and United Continental Holdings Inc...Read More
via GoldinAmerica.com Chart: SPX red line:: gold is candle. You call that a dip?UPDATE: What happened today? Weren't we supposed to selloff on a strong CPI number? Dips may be harder to come by in this new regimeof fed indecisiveness.Up $5 may soon become the dip to buy..For now, look for $1350 to be an option related magnet. If it breaks free from that, $1400 shouldn't be a problem....Read More
Getty ImagesRising prices, or inflation, is giving Wall Street the jitters. And if that keeps up, Main Street is going to feet it, too. The numbers: The consumer-price index leaped 0.5% in January to mark the biggest increase in five months, adding to recent worries about rising inflation. The cost of rent, clothes, gasoline, health care and auto insurance all rose. Economists surveyed by Market...Read More
Gold has exploded on higher inflation data. Is thiscounter-intuitive? Higher inflation means a more aggressive Fed = higher rates= stronger dollar = lower gold prices, right? I think traders are perceivingthat Fed is in a box. President Trump, after lambasting the Dems, for theirbudget deficits has already in his first year put plans in place and on thetable that will increase the Federal deficit...Read More
Gold futures finished at the highest level in nearly three weeks after a hotter-than-expected headline inflation reading prompted investors to turn to the precious metal as a hedge against rising prices. April goldGCJ8, -0.29% surged, gaining $27.60, or 2.1%, to settle at $1,358 an ounce. The gold-backed exchange-traded fund SPDR Gold SharesGLD, +1.71% added 1.7%, while the VanEck Vectors Gold Min...Read More
* Strong U.S. inflation report followed by weak retail sales* Dollar surrenders gains, Wall Street swings higher* Other precious metals hit one-week highs* GRAPHIC-2018 asset returns: (New throughout, updates prices, market activity and comments, adds second byline, NEW YORK dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Feb 14 (Reuters) - Gold prices climbed nearly 2 percent on Wednes...Read More
(Kitco News) - Some market watchers are scratching their heads at thebig upside price moves in gold and silver markets Wednesday. What was the maindriving force for the strong prices gains? Was it the depreciation of the U.S. dollar index this week? Was it a re-examination of the U.S. consumer priceindex report that may not be as indicative of problematic inflation asinitially thought? Or, was it...Read More
(Kitco News) - Some market watchers are scratching their heads at the big upside price moves in gold and silver markets Wednesday. What was the main driving force for the strong prices gains? Was it the depreciation of the U.S. dollar index this week? Was it a re-examination of the U.S. consumer price index report that may not be as indicative of problematic inflation as initially thought? Or, was...Read More
(Recasts, includes comments by CEO and analysts)By P.J. Huffstutter and Karl PlumeCHICAGO, Feb 14 (Reuters) - Agricultural merchant Bunge Ltd reported a worse-than-expected loss for the fourth quarter on Wednesday, the latest in a string of poor results that has left the company's management fending off takeover bids from rivals.Several years of abundant grains supply on global markets have made...Read More
* LME/ShFE arb: (Recasts, updates with closing prices)By Peter HobsonLONDON, Feb 14 (Reuters) - Industrial metals prices rose on Wednesday, with nickel hitting its highest in two and a half years as a weaker dollar made metals cheaper for holders of other currencies. Stronger than expected inflation in the United States spurred buying of equities and hard assets including metals, which protect aga...Read More
(Kitco News) - Goldprices ended the U.S. day session sharply up and hit a two-week high Wednesday.A slumping U.S. dollar index this week and chart-based buying were featured.Buy stop order were triggered in the gold and silver futures markets whennear-term technical resistance levels were breached. April Comex gold futureswere last up $27.00 an ounce at $1,357.40. March Comex silver was last up $0...Read More
(Kitco News) - Gold prices ended the U.S. day session sharply up and hit a two-week high Wednesday. A slumping U.S. dollar index this week and chart-based buying were featured. Buy stop order were triggered in the gold and silver futures markets when near-term technical resistance levels were breached. April Comex gold futures were last up $27.00 an ounce at $1,357.40. March Comex silver was last...Read More
By Lewis Krauskopf and April JoynerNEW YORK, Feb 14 (Reuters) - So, were the stock market's fears about inflation ... inflated?U.S. stocks gained on Wednesday, shrugging off an initial sharp dip in premarket trading immediately after the release of U.S. government data that showed consumer prices rose more than expected in January. The Labor Department said its Consumer Price Index increased 0.5 p...Read More
U.S. retail sales unexpectedly fell in January, recording their biggest drop in nearly a year. Households cut back on purchases of motor vehicles and building materials. Published 11 Hours AgoUpdated10 Hours AgoReuters Lucas Jackson | ReutersA shopper looks at items on sale inside of a JC Penney store in New York.U.S. retail sales unexpectedly fell in January, recording their biggest drop in...Read More
* Dollar falls as stocks rebound from CPI news* U.S. core CPI posts largest gain in a year* Retail sales post largest decline in 11 months (Updates news, table, quotes and prices)By Kate DuguidNEW YORK, Feb 14 (Reuters) - The U.S. dollar fell on Wednesday, as equity markets rebounded quickly following a stronger-than-expected inflation data report.The announcement that the U.S. core Consumer Price...Read More
Feb 15 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,841.20 -14.70NZX 50**8,058.80 -63.420DJIA24,767.63127.18NIKKEI**21,154.17-90.51Nasdaq7,107.94194.43 FTSE**7,213.97 45.96S&P 500 2,687.47 24.53 Hang Seng** 30,515.6 676.07SPI 200 Fut 5,828.00 38.00 STI** 3,402.86 -12.21SSEC**3,199.4757014.51700KOSPI** 2,421.83 26.64--------------------------------------------------...Read More
January saw volatility return to Lithium and Cobalt markets, both correcting on oversupply anxiety.Glencore announced that its Democratic Republic of Congo (DRC) project Kamoto will expand its Cobalt output to 34ktpa by 2019 (~30% of CY19F global demand). This news impacted Cobalt stocks globally on near-term oversupply concerns.Read full newsRead More