(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
(Reuters) - San Francisco Federal Reserve Bank President John Williams is under consideration by the White House for the post of vice chair of the Fed Board in Washington, the Wall Street Journal reported on Thursday, citing unnamed people familiar with the matter.A San Francisco Fed spokesman declined to comment to Reuters. The Wall Street Journal said it was unclear whether Williams is a front r...Read More
Dhara RanasingheLONDON (Reuters) - The dollar wallowed near three-year lows on Friday as heightened fears of a U.S. government shutdown unnerved investors, while U.S. Treasury yields continued an upward march to hit their highest levels since September 2014.Legislation to stave off an imminent federal government shutdown encountered obstacles in the Senate late on Thursday, despite the passage of...Read More
Richard Cowan, Amanda BeckerWASHINGTON (Reuters) - Racing against a midnight deadline, the U.S. Congress will try on Friday to send President Donald Trump legislation to keep the government operating and avoid federal agency shutdowns that would otherwise begin on Saturday.The House of Representatives voted 230-197 on Thursday night for a bill to extend expiring funding through Feb. 16.But with te...Read More
* Gold, silver, palladium set for first weekly drop in six* Platinum on track for sixth weekly gain* Analysts cautious on gold as dollar weakness seen overdone(Recasts, adds comment, updates prices, changes dateline)By Maytaal AngelLONDON, Jan 19 (Reuters) - Gold prices rose half a percent on Friday as the dollar laboured near a three-year low amid heightened fears of a U.S. government shutdown, b...Read More
The holiday-shortened week has proved one thing, volatility is back, and the markets can actually go up and down. For the last couple of years with the equities going straight up, price volatility was missing in action as witnessed by the collapsing VIX, which made lows in 2017 under 9. That lack of volatility also impacted the metals, especially in the past 30 days as Gold went straight up from t...Read More
KAMPALA, Jan 19 (Reuters) - The Ugandan shilling was stable on Friday due to hard currency inflows from international aid agencies and farm commodity exporters, accompanied by slow demand from importers.At 1153 GMT, commercial banks quoted the shilling at 3,625/3,635, unchanged from Thursday's close. UGX Spot Rate..... Ugandan Shilling Money Guide.... Calculated Cross Rates.......... Deposits.......Read More
Canada's RosCan Minerals Corporation (TSXV: ROS) announced this week that as it explores for gold potential at the Dormaa Project in Ghana, it is also assembling a sizeable contiguous land package in the gold prospective Birimian rocks of western Mali.In a press release, RosCan explained that it has entered into a Letter of Intent with Touba Mining SARL to acquire a 100% interest in the 56 sq. km....Read More
Shares in GoldStone Resources (LON:GRL) jumped Friday after the gold miner announced it had began a project to potentially reopen the Akrokeri mine in Ghana, which has been shuttered for over a century.The old underground mine is located within the Akrokeri prospecting licence held by GoldStone, about 1.5 km south of two proposed pits. It was shut down in 1909, due to a high inflow of water.In t...Read More
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Michelle Girard, NatWest Markets chief U.S. economist, discusses housing starts and jobless claims.Groundbreaking on new U.S. homes eased from the fastest pace in 13 months while permits held steady to finish the strongest year for housing construction in a decade, government figures showed Thursday.Highlights of Housing Starts (December)Residential starts fell 8.2% to a 1.19m annualized rate (est...Read More