Yesterday's $22 gain was significant for a multitude of reasons. First, it was the most significant single-day gain since October 11, when gold traded from just under $1,200 ($1,198) and closed a respectable $30 higher, finally settling at approximately $1,227.80 per ounce. The significance of that gain was that gold pricing finally broke above multiple key levels of resistance. The first level go...Read More
Apple earnings tipped the scales in the bears' favorThe Dow traded in a range of 500 points on both sides of breakeven today, ultimately ending in the red. While stocks started the session strong on a solid October jobs report, an ugly earnings reaction from FAANG stock Apple (AAPL) ultimately tipped the scales in the bears' favor. In addition, the White House threw a wet blanket on a Bloomberg re...Read More
NEW YORK (Reuters) - The dollar rose against the yen and the euro on Friday in a choppy session, as worries that a trade deal between the United States and China may not be imminent curtailed risk appetite and boosted safe-haven demand for the greenback.White House economic adviser Larry Kudlow told CNBC that President Donald Trump has not asked U.S. officials to draw up a proposed trade plan for...Read More
ANKARA (Reuters) - The order to kill journalist Jamal Khashoggi came from the “highest levels” of the Saudi government, Turkish President Tayyip Erdogan said in an op-ed piece published by the Washington Post on Friday.However, he wrote: “I do not believe for a second that King Salman, the custodian of the holy mosques, ordered the hit on Khashoggi.”Reporting by Ece Toksaba...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday that a lot of progress had been made with China on trade, and he predicted the world’s two largest economies would reach a very good deal.Speaking to reporters at the White House before departing for a campaign event, Trump confirmed that he would meet with Chinese President Xi Jinping when they are in Argentina for a Nov. 30-...Read More
MIAMI (Reuters) - Former U.S. President Barack Obama warned against rhetoric he said was designed to sow fear at rally supporting Democratic candidates on Friday, a packed day of campaigning that will also see his successor, Donald Trump, on the road urging voters to keep his Republican Party in control of Congress.Obama hit on a common closing campaign theme of Democratic campaigns - defending th...Read More
NEW YORK (Reuters) - The Trump administration’s decision to ask about citizenship on the 2020 Census questionnaire could undermine the quality of the data by discouraging non-citizens from responding, the U.S. Census Bureau’s chief scientist said.But, added John Abowd in written testimony seen by Reuters, the question will not necessarily lead to an undercount, because the governmen...Read More
SPRINGFIELD, Mo. (Reuters) - In rally after rally, President Donald Trump exhorts throngs of red-hatted supporters to treat next week’s congressional elections as a referendum on Trumpism and the grass-roots movement that swept him to power.“You’re voting for me in 2018,” Trump told a raucous crowd in a late September appearance for Republican candidates in Missouri. &ldquo...Read More
All three names are on the short-sale restricted list today, thoughThe Dow has explored a 500-point trading range on both sides of breakeven, as Wall Street digests the latest trade developments and a negative earnings reaction for Apple (AAPL). Among other stocks making notable moves are gene therapy specialist Adverum Biotechnologies Inc (NASDAQ:ADVM), Apple supplier Universal Display Corporatio...Read More
Gold futures declined on Friday after a stronger-than-expected October jobs report, prompting prices for the precious metal to end the week with a modest loss. Gold for December delivery GCZ8, -0.16% fell $5.30, or 0.4%, to settle at $1,233.30 an ounce. It ended the week roughly 0.2% lower, according to FactSet data. On Thursday, gold settled at a more than three-month high, up 1.9% as the U.S....Read More
LONDON (Reuters) - British banks Barclays (BARC.L) and Lloyds (LLOY.L), and Italy’s Banco BPM (BAMI.MI) have fared worst in the latest European Union wide “stress test” of top lenders’ resilience to simulated market shocks.The European Banking Authority (EBA), the EU’s banking watchdog, published the results for 48 banks on Friday in its toughest test since 2009, when...Read More
(Kitco News) - Analysts are focusing on next week’s midterm elections in the U.S. and the Federal Reserve’s monetary policy meeting as gold tries to hold significant support above the $1,230 an ounce level.While the majority of analysts interviewed by Kitco remained bullish on gold price next week, many experts talked about uncertainty in the air due to Tuesday’s midterm election...Read More
Regulus Resources' (TSXV: REG) spin-out Aldebaran Resources (TSXV: ALDE) debuted on the Toronto Venture Exchange at $0.90 before tumbling to $0.59 in mid-afternoon trading.The company shares the same core management team as Regulus Resources and is focused on projects in Argentina.The recently formed junior explorer's primary focus will be the Altar copper-gold project, a large porphyry system i...Read More
The electric car name remains heavily shortedTesla Inc (NASDAQ:TSLA) confirmed today that the Securities and Exchange Commission (SEC) has issued subpoenas investigating production projections for its Model 3 vehicle. Should government enforcement occur, Tesla has said it could have "material adverse impact on our business."This isn't the first time the Feds and Tesla have battled it out. Elon Mus...Read More
NEW YORK (Reuters) - Concerns that a trade deal between the U.S. and China may not be imminent reined in a rally in world equity markets and reversed gains on Wall Street on Friday, while strong U.S. wage growth boosted U.S. bond yields.Markets had earlier climbed on hopes that the world’s two biggest economies were mending their shaky trade relations.A steep decline in shares of Apple Inc f...Read More
ROME (Reuters) - Italy posted a state sector budget deficit of 3.9 billion euros in October, down by 1.2 billion euros compared with the same month last year, the Treasury said on Friday.October data includes a 1.25 billion euro cash-in from the government’s fifth-generation (5G) frequency auction, the statement said.In the first 10 months of this year, the cumulative budget deficit amounted...Read More
Democrats take control of the Congress and move Trump out of the White House. Sounds unbelievable? So what is probable and what is not? We invite you to read our today's article about the upcoming US Mid-Term Elections and find out what are the likely consequences for the gold market. Will the US Mid-Term Elections Boost Gold? Elections are approaching the US again. Two years after Dona...Read More
The stock's pullback from record highs could be a buying opportunityHandmade marketplace Etsy Inc (NASDAQ:ETSY) is slated to report third-quarter earnings after the close on Tuesday, Nov. 6. While the shares have pulled back recently with the broader equities market, a historically bullish technical signal is now flashing -- suggesting ETSY stock could be on sale at current levels.Etsy shares touc...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump has not asked U.S. officials to draw up a proposed trade plan for China, White House economic adviser Larry Kudlow told CNBC in an interview on Friday, adding he was not as optimistic as he once was about the two nations reaching a deal.Kudlow said a meeting between Trump and Chinese President Xi Jinping later this month at the G20 summit was defi...Read More
LONDON (Reuters) - European shares had a third day of gains on Friday after U.S. President Donald Trump fueled hopes among investors that a deal to end a prolonged dispute over trade could be reached with his Chinese counterpart Xi Jinping later this month.The pan-European STOXX 600 hit its highest since Oct. 10 in early deals and sealed its best week since Dec 2016, rising 3.4 percent on the week...Read More