LOS ANGELES (Reuters) - In January, President Donald Trump fired the opening shot of his trade war, slapping tariffs on solar panel imports to boost U.S. manufacturing of a product long dominated by cheap foreign competition.But other duties his administration has imposed since then are making the solar panel components more expensive - dampening the domestic panel manufacturing sector’s ini...Read More
GENEVA (Reuters) - Argentina, Costa Rica, Japan and the European Union are supporting a U.S. drive to enforce greater transparency in World Trade Organization notifications, a proposal published by the WTO showed on Friday.The United States, which is pushing for tighter discipline at the WTO, surprised many diplomats last year with an initiative for administrative sanctions on countries that faile...Read More
(Kitco News) - Gold prices aremodestly lower in early U.S. trading Friday, in the immediate aftermath of avery upbeat U.S. jobs report that falls into the camp of the U.S. monetarypolicy hawks, who want to see interest rates continue to ratchet higher. Goldprices had already been under some pressure prior to the report, on a normalcorrective pullback from Thursday’s good gains. December gold...Read More
WASHINGTON (Reuters) - U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.The Labor Department’s closely watched monthly employment report on Friday also showed the unemployment rate steady at a 49-year low of 3....Read More
(Kitco News)- The gold market is seeing a little selling pressurefollowing stronger than expected U.S. employment data.The Bureau of Labor Statistics said 250,000 jobs werecreated in October, economists were expecting to see job gains of around 194,000. At the same time the unemployment rate was unchanged at 3.7%,in line with expectations. The unemployment rate is at its lowest level since 1969.Go...Read More
* U.S.-China trade deal hopes trigger risk rally * Emerging-market shares head for best day since early 2016 * Europe higher with Germany's DAX leading the charge * Hong Kong, Korean markets have best day in seven years * U.S. jobs data next test for rising bond yields * Dollar dips, sterling builds on strongest day of the year * Graphic: World FX rates in 2018 By Marc JonesLONDON, Nov 2 (Reuters)...Read More
SAN FRANCISCO (Reuters) - U.S. President Donald Trump has warned that his favorite measure of success, the stock market, is imperiled if voters favor Democrats in next week’s congressional elections.While not fully accurate - stocks tend to rise regardless of who controls the government - it does bear out that the market has delivered a slightly stronger performance on average when Republica...Read More
* Talk of improved U.S.-China ties boosts risk appetite* 10-year U.S., German yields hit one-week highs* Euro zone manufacturing data disappoints* U.S. jobs data due 1230 GMT* EBA to publish stress test results at 1700 GMT (Updates pricing, adds detail on PMI data)By Virginia FurnessLONDON, Nov 2 (Reuters) - Euro zone government bond yields rose on Friday before U.S. jobs data and after reports th...Read More
BERLIN (Reuters) - Germany's economy likely shrunk by around 0.3 percent in the third quarter, the IfW institute said on Friday, adding this was probably largely caused by declines in production in the auto industry due to the introduction of new pollution standards known as WLTP.Stefan Kooths, head of the forecasting center at the Kiel Institute for the World Economy (IfW), said growth in Europe'...Read More
Fred Imbert| @foimbert Published 16 Hours AgoUpdated5 Hours AgoCNBC.com show chapters Stocks pare losses on Trump's optimism for trade deal with China 6 Hours Ago |01:45 Stocks traded in a wide range on Friday as investors digested different comments and reports on global trade, while Apple shares dented the broader tech sector.The Dow Jones Industrial Average closed 109.9...Read More
Iamgold Corp. (TSX: IMG; NYSE: IAG) says a feasibility study for a joint venture withSumitomo Metal Mining Co., Ltd., for the C??t?(C) Gold project in northern Ontario,points to “an economically viable, long-life project that is expected to be alow-cost producing mine.” Compared to the prefeasibility study, proven andprobable reserves increased by 1.4 million ounces to 7.3 million. Mea...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
After Wednesday's ugly trade,gold spiked on Thursday, testing the $1,240 level once again. Although goldbroke down through $1,220, trading as low as $1,215, it immediately bouncedback to the $1,240 resistance level.Gold looks poised to make a bigup move and push through $1,240 resistance sooner rather than later. Gold'srally may have been sparked by the weaker dollar; however, gold has beengaining...Read More
• Easing USD bearish pressure/risk-on mood fails to provide fresh impetus. • The latest US monthly jobs report might help determine the near-term trajectory. Gold held steady through the early European session on Friday and was seen consolidating overnight strong upsurge to fresh weekly tops. After falling for three days in a row, the precious m...Read More
(For a live blog on European stocks, type LIVE/ in an Eikonnews window) * FTSE 100 on track for best week in nearly 2 years* Burberry, miners boosted by hopes of end to U.S.-China row * JPM China fund up 10 percentBy Josephine MasonLONDON, Nov 2 (Reuters) - UK shares bounced for a fourthsession on Friday as mining and luxury goods stocks led a rallyamid growing optimism about a Brexit deal and hop...Read More
The world's fastest-growing vertically integrated global cannabis company could net investors a huge return in the months to come.The worldwide trend toward marijuana legalization has triggered a wave of growth opportunities for investors around the globe.Beyond the explosive Canadian market - this diversified cannabis operator maintains production, processing, and distribution facilities worldwid...Read More
(Updates closing price and adds details)SHANGHAI, Nov 2 (Reuters) - China's yuan jumped on Fridayafternoon, finishing domestic trade at its strongest in morethan a month, supported by rising hopes that trade tensionbetween China and the United States will ease.The Chinese currency traded well above a 10-year low hitearlier in the week and also looked set for its biggest weeklygain since late Augus...Read More
The USD, gold's biggest nemesis, took a beating yesterday. As a result, the yellow jumped from $1,214 to $1,237. As of writing, it is trading at $1,232/Oz and has created a falling wedge pattern on the 15-minute chart. A break above the upper edge of the wedge, currently at $1,233, would signal a resumption of the rally and open up upside toward $1,250. On the way higher, the metal may encoun...Read More
* Dollar under pressure as risk-sensitive currencies gain * Trump said to have asked to prepare trade deal draft * Ebb in trade woes weighs on yen, lifts Aussie and yuan * Traders awaits U.S. jobs data for potential lift * Graphic: World FX rates in 2018By Tom FinnLONDON, Nov 2 (Reuters) - The dollar fell on Friday on signsU.S. President Donald Trump is seeking to resolve a damagingtrade war with...Read More
Nov 2 (Reuters) - Aluminium producer Hindalco Industries Ltd posted a 21.4 pct decline in Sept-quarter net profiton Friday, dragged down by rising input costs, but marginallybeat estimate.Standalone profit after tax came in at 3.09 billion rupees($42.50 million) in the second quarter, compared with 3.93billion rupees a year earlier, Hindalco said . Eleven analysts on an average had expected the Mu...Read More