(Kitco News) - Gold is regaining lost ground Friday as the U.S. dollar is once again trading near 3-year lows on increased fears of a U.S. government shutdown, according to forex analysts.“Gold found support on Friday in the form of dollar weakness and market anxiety over a potential U.S. government shutdown,” said Lukman Otunuga, research analyst at FXTM.As Republicans rush to gather...Read More
* Currencies retreat after hitting multi-year highs vs dollar* Disappointment over IRS tender boosts Hungarian bond yields* Hungary trying to push down borrowing costs (Adds further rise in Hungarian bond yields, Czech parliament vote)By Sandor PetoBUDAPEST, Jan 19 (Reuters) - Hungary's 10-year government bond yield hit a two-month high on Friday due to concern that the central bank's (NBH) new in...Read More
Sirius XM Holdings Inc. (NASDAQ:SIRI) and Nvidia Corporation (NASDAQ:NVDA) stocks have both been winners in recent years, andare again gaining today following bullish brokerage attention. Below we'll take a closer look at shares of SIRI and NVDA after the analyst notes. Deutsche Bullish On SIRI StockShares of Sirius XM are trading up 1.8% at $5.57, after Deutsche Bank upgraded the stock to "buy"...Read More
DAR ES SALAAM, Jan 19 (Reuters) - Tanzania's national oil company TPDC ordered Swala Oil and Gas on Friday to delay its acquisition of up to 40 percent in PAE PanAfrican Energy Corp. pending a more detailed assessment of the deal.Swala, a Tanzanian firm, said on Jan. 2 it would buy the stake in the unit of Canada's Orca Exploration Group for $130 million.The deal would give Swala part ownership of...Read More
TORONTO, Jan 19 (Reuters) - Canada's main stock index edged higher on Friday as broad-based gains offset losses for the energy group after oil prices fell.The Toronto Stock Exchange's S&P/TSX composite index rose 17.93 points, or 0.11 percent, to 16,302.40, shortly after the open. Eight of the index's 10 main groups were higher. (Reporting by Fergal Smith Editing by Chizu Nomiyama) Disclaimer...Read More
By Bruno FederowskiBRASILIA, Jan 19 (Reuters) - Brazilian stocks hovered near all-time highs on Friday as optimism over the nation's economic prospects sustained demand for local assets, while hopes of a tie-up with Boeing Co boosted shares of Embraer SA .The benchmark Bovespa stock index rose 0.2 percent, supported by blue chips such as Vale SA and lenders Banco Bradesco SA and Ita?? Unibanco Hol...Read More
Jan 19 (Reuters) - U.S. stocks opened higher on Friday, putting the major indexes on track for three straight weeks of gains as hopes of a strong earnings season overshadowed fears of a potential U.S. government shutdown.The Dow Jones Industrial Average rose 12.73 points, or 0.05 percent, to 26,030.54. The S&P 500 gained 6.71 points, or 0.24 percent, to 2,804.74. The Nasdaq Composite added 23....Read More
Francesco Gardin, chief executive of Clear Leisure PLC (LON:CLP), tells Proactive they've set up a new technology venture which will include interests in a 3D mapping business and a Bitcoin mining blockchain data centre.Clear Leisure has entered into a binding agreement with its joint venture partner, 64Bit Limited, a Malta data centre operator specialising in Bitcoin "mining" and powered by low-c...Read More
WASHINGTON, Jan 19 (Reuters) - The U.S. Treasury will auction 6-day cash management bills on Friday in a small-value contingency auction operation. For details of the auction, see: (Washington economics newsroom) 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 every effort to ensure accuracy of information...Read More
The shares of Overstock.com Inc (NASDAQ:OSTK) are pointed 4.2% higher in pre-market trading, amid reports that Kroger Co (NYSE:KR) could be interested in buying the e-commerce concern. However, even without the M&A speculation, OSTK shares -- which have moved in step with blockchain stocks recently -- could be sending up a "buy" signal, if past is prologue.The shares recently pulled back to within...Read More
Ex-Massey Energy CEO Don Blankenship, who served a one-year prison term on charges related to the deadliest US mine disaster, is now officially running for the U.S. Senate in West Virginia.Blankenship kicked off his campaign Thursday night with a town hall meeting for voters in which he vowed to support President Donald Trump's pro-coal stance with "actions."Blankenship kicked off his campaign Thu...Read More
After staging a sharp reversal from record highs on Thursday, the Dow Jones Industrial Average (DJI) is signaling a negative start to the trading session. All odds seem stacked against the blue-chip index today, with Dow stocks American Express (AXP) and IBM (IBM) set for post-earnings slumps. And while the House passed a short-term funding bill last night, the stopgap measure still has to clear t...Read More
(Kitco News) - The markets continue to reflect nervousness about thepossibility of a government shutdown at midnight tonight. The rhetoricratcheted higher overnight as Democrats continue to demand a deal on DACA aspart of the funding extension. Dollar selling accelerated and gold pushedhigher before the Asian close. Volatility will increase throughout the day andtraders are likely to go into the w...Read More
(Kitco News) - The markets continue to reflect nervousness about the possibility of a government shutdown at midnight tonight. The rhetoric ratcheted higher overnight as Democrats continue to demand a deal on DACA as part of the funding extension. Dollar selling accelerated and gold pushed higher before the Asian close. Volatility will increase throughout the day and traders are likely to go into...Read More
* Dollar pressured by U.S. government shutdown risk* Euro near three-year high, yen near four-month high vs dollar* Graphic: World FX rates in 2017 - By Jemima KellyLONDON, Jan 19 (Reuters) - The dollar laboured near a three-year low against a basket of currencies on Friday, heading for a fifth week of falls that would be its longest losing streak since May 2015, as worries about a possible U.S. g...Read More
(Kitco News) - Gold and silver prices are moderately higher in early U.S. trading Friday, boostedby a weakened U.S. dollar index that hovers near this week's 3.5-year low.There is also a bit of safe-haven demand seen in both metals as a U.S.government shutdown looms. February Comex gold was last up $6.80 an ounce at$1,334.00. March Comex silver was last up $0.086 at $17.035 an ounce.Thereare growi...Read More
(Adds background, comment)ANKARA, Jan 19 (Reuters) - Gold imports to Turkey hit a record 370 tonnes in 2017, more than trebling from 106.1 tonnes, data from Borsa Istanbul showed.This was the highest level of imports since the data was made available in 1995 and well above the previous record of 302 tonnes set in 2013. Imports in December alone reached 49.3 tonnes, up 34 percent year on year. Cag...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
* Discounts in India at about $5 vs $2 last week* Premiums in China at about $8 By Nithin ThomasPrasad and Rajendra JadhavBENGALURU/MUMBAI, Jan 19 (Reuters) - Gold demand in China firmed this week as retailers stocked up ahead of the Chinese New Year while price discounts widened in India, partly on expectations of a reduction in import duty in next month's budget.Spot gold prices, up by more tha...Read More