• The US midterm election results-led USD weakness helps regain positive traction. • A fresh leg of a downfall in the US bond yields provides an additional boost. • Further gains are likely to remain capped amid the prevalent risk-on mood. Gold quickly reversed a knee-jerk slide to four-day lows and was now seen building on its...Read More
(Reuters) - U.S. stock futures pointed to strong opening gains for Wall Street on Wednesday after the midterm elections handed Democrats the House of Representatives and saw Republicans reinforce their control of the Senate in a widely expected outcome.After an initial muted market reaction globally, futures for the three major Wall Street indexes powered higher along with European stocks, while t...Read More
ROME (Reuters) - Italy's government won a confidence motion in the upper house Senate on Wednesday on a contested security decree, which tightens immigration regulations and bolsters anti-terrorism and anti-mafia rules.The bill was championed by Deputy Prime Minister Matteo Salvini, who is also head of the far-right League, but was opposed by a handful of members of his coalition ally, the anti-es...Read More
(Reuters) - U.S. satellite TV service provider Dish Network Corp (DISH.O) reported a 5 percent fall in quarterly revenue on Wednesday as it leaked more subscribers in the face of cheaper options like Netflix and Hulu.Dish shed a net 367,000 satellite subscribers during the third quarter, far beyond a consensus estimate of 232,000 net customer losses, according to research firm FactSet.Net income a...Read More
LONDON (Reuters) - Oil rebounded to $73 a barrel on Wednesday after falling to its lowest since August, supported by a report that Russia and Saudi Arabia are discussing oil output cuts in 2019.Russia’s TASS news agency, citing an unnamed source, reported that the two countries, the biggest producers in an OPEC-led alliance that has been limiting supply since 2017, have started bilateral tal...Read More
TahoeResources Inc. (TSX: THO, NYSE: TAHO) lists a third-quarter loss as resultscontinue to be hurt by suspension of operations at the giant Escobal silvermine in Guatemala. The Supreme Courtshut down the mine last year over a dispute on whether the Ministry of Energyand Mines properly consulted surrounding indigenous communities on the project.Tahoe’s July-September net loss was $190 mill...Read More
(Kitco News) - Gold andsilver prices are moderately higher in early U.S. trading Tuesday, boosted by asharp drop in the U.S. dollar index today. December gold futures were last up $7.10an ounce at $1,233.40. December Comex silver was last up $0.175 at $14.675 anounce. Tuesday’sU.S. mid-term elections turned out as many had expected and saw the Republicansmaintain control of the Senate but t...Read More
BRUSSELS, Nov 7 (Reuters) - Euro zone retail sales rose more than expected year-on-year in September, and August data was also revised upwards, signalling continued consumer demand, especially in online shopping, despite slowing economic growth, data showed on Wednesday.The European Union's statistics office Eurostat said retail sales in the 19 countries sharing the euro were flat month-on-month f...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
WASHINGTON (Reuters) - Donald Trump faced greater restraints on his presidency after Democrats won control of the U.S. House of Representatives and pledged to hold the Republican accountable after a tumultuous two years in the White House.Trump and his fellow Republicans expanded their control of the U.S. Senate in Tuesday’s midterm elections, following a divisive campaign marked by fierce c...Read More
(Kitco News) - First Majestic SilverCorp. (NYSE: AG; TSX: FR) posted record production in the second quarter,although the company ended with an adjusted loss as silver prices fell, thecompany said Wednesday.Net earnings were $5.9 million, or 3 centsper share, compared to a loss of $1.3 million, or a penny, in the same quarterof 2017. The increase was primarily due to a $15.5 million increase in de...Read More
Tuesday's U.S. elections tookplace and the results were as expected; the House turned blue and Republicans addeda couple of seats in the Senate. Gold had a very active night as well with abig rally on fear, sell-off on relief and now a rally towards the overnighthighs on relief.How do these results affect theprice of gold? The simple answer is they don't. Asset classes may react to thenews, but th...Read More
(Updates with closing prices, recasts)By Peter HobsonLONDON, Nov 7 (Reuters) - Zinc prices on Wednesday fell to aseven-week low on expectations that a supply crunch will ease.Benchmark zinc on the London Metal Exchange (LME)closed down 1.8 percent at $2,455 a tonne after touching $2,445,the lowest since Sept. 21."Smelter margins in China are picking up and the expectationis that production is...Read More
* Stocks notch higher after US election * Rand boosted by weaker dollar(Update levels and quotes)JOHANNESBURG, Nov 7 (Reuters) - South Africa's rand firmedagainst a weaker dollar on Wednesday after U.S. midtermelections split Congress, lowering the chance of any major U.S.fiscal policy boost soon.Stocks recovered marginally from a sell-off ahead of theelections.At 1505 GMT, the rand traded 1.04 pe...Read More
(Updates prices) * Dollar index falls 0.6 pct * Democrats will control House for first time in eight years * Investors await U.S. Fed's two-day policy meeting * Platinum hits more than 4-month high By Swati VermaBENGALURU, Nov 7 (Reuters) - Gold rose on Wednesday as U.S.mid-term elections delivered a split Congress and pressured thedollar, with investors now turning their attention to a FederalRes...Read More
Gold falls early in 2018.History tells us to be careful.Gold is waiting for silver to validate its strength.The rate hike is baked inside this gold bar.Levels to watch and a pair of products for short-term trading.The dollar index rose to a new high for 2018 on the final day of October when the December futures contract hit a peak at 96.980. The last time that the dollar traded at a higher level w...Read More
Risk appetite is starting to confuse itself as broader markets struggle to pick a direction on US election results. Heaving US Treasuries and a Greenback in flux is seeing Gold struggle to maintain a firm hold in either direction. Gold has taken some wild swings in early Wednesday's trading session, alternating between spikes to 1,232.00 and drops into 1,223.00 as broader market sentiment wh...Read More
(Adds comment from central bank official)STOCKHOLM, Nov 7 (Reuters) - Sweden's central bank is addingthe Danish and Norwegian crowns as new reserve currencies, butwill stay out of the Chinese yuan for now, the Riksbank said onWednesday.The British pound, which the Riksbank already holds, willalso get the status of one of five contingency currencies alongwith the two Nordic units, the dollar and th...Read More
Published 20 Hours AgoUpdated5 Hours AgoReuters Leonhard Foeger | ReutersGold pared some gains on Wednesday but held firm as the dollar slid after the U.S. midterm elections delivered a split Congress and as investors looked ahead to a Federal Reserve meeting for signals on future interest rate hikes.Spot gold was up 0.01 percent at $1,226.53 per ounce having earlier hit $1,235.83, while U.S. gol...Read More
LONDON, Nov 7 (Reuters) - Turkey's 2020-2030 dollar bondshit their highest level since August on Wednesday, as a drop inthe U.S. currency following midterm elections helpedextend the recent rebound in Turkey's markets.Ankara's 2030 bond got the biggest boost,rising nearly 1 cent in price in what looked set to be a fourthstraight day of gains.(Reporting by Marc Jones; Editing by Jo Mason) Messaging...Read More