Gold futures ended higher Thursday with a decline in the U.S. stock market boosting investment interest despite strength in the dollar, which tends to put some pressure on dollar-denominated prices for the metal. On Wednesday, gold had settled lower and extended its decline in after-hours electronic trading as a benchmark U.S. dollar index climbed to fresh session highs shortly after the release o...Read More
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.Every American needs to learn how to protect and secure their retirement against the worst stock market crash in history, and this IRA/401KInvestment Guide 2018 is one way the average American can help protect their investments in the event of a crisis.Jim Rickards is the nation's most vocal and intelligen...Read More
The notorious short seller says the FDA has proven a 'stock scheme'The shares of PolarityTE Inc (NASDAQ:PTE) are getting slaughtered today, after Citron Research issued its "most damaging report to date." Specifically, the notorious short seller said the Food and Drug Administration (FDA) has proven a "stock scheme," and claims the company's "groundbreaking technology" is "controlled [by] a nefari...Read More
NEW YORK (Reuters) - With mortgage applications falling to their lowest since late-2014, the U.S. home lending industry is facing a major overhaul in how it works and manages staffing levels.Call-center employees who handle customer refinance requests are the most vulnerable as rates have started to climb, analysts said.Those applications have fallen to their lowest level since late 2000, accordin...Read More
LONDON (Reuters) - Britain’s Cabinet Office Minister David Lidington said it was too early to estimate the cost of extending a Brexit transition period after the government indicated it would consider asking for one to break a deadlock in talks with the EU.Lidington rejected claims that an extension would cost Britain more than 10 billion pounds ($13.10 billion) in payments to the European U...Read More
WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co (WFC.N) to grow in size until the bank replaces Chief Executive Officer Tim Sloan.In a letter to Fed Chairman Jerome Powell, Warren said Sloan, a 30-year veteran of Wells, is “deeply implicated” in prior bank misconduct, and it is untenable for him to remain a...Read More
MEMPHIS, Tenn. (Reuters) - The Federal Reserve’s current monetary policy path would raise the risks of recession in an economy where recent, unexpectedly strong growth may start to taper anyway, St. Louis Fed President James Bullard said on Thursday.In remarks to the Economic Club of Memphis, Bullard pointed to a possible next chapter in the central bank’s discussion: What to do if, as...Read More
(Reuters) - U.S. stocks sank more than 1 percent on Thursday as weak industrial earnings raised worries about rising expenses and the impact of tariffs, adding to concerns over higher borrowing costs after hawkish commentary in the Federal Reserve’s minutes.The markets hit session lows after U.S. Treasury Secretary Steven Mnuchin pulled out of a conference in Saudi Arabia, as the Trump admin...Read More
• The commodity has been correcting from 2-1/2 month tops alongside a short-term descending trend-channel formation on the 1-hourly chart. • Against the backdrop of the recent upsurge from $1183 area, the channel now seems to constitute towards the formation of a bullish flag chart pattern. • Moreover, positive technical...Read More
NEW YORK (Reuters) - Because it is unclear how long the U.S. economy can sustain its current strength, the Federal Reserve should continue with its gradual interest rate hikes until it becomes undeniable that a change of course is necessary, an influential Fed governor said on Thursday.Randal Quarles, the U.S. central bank’s vice chair of supervision, who rarely discusses monetary policy, sa...Read More
WASHINGTON (Reuters) - The U.S. Federal Aviation Administration said Thursday it would allow U.S. airlines and codeshare partners to resume flights at three Ukrainian airports and over parts of the Black Sea, citing improved safety and security in parts of Ukraine.The FAA had barred flights over the war zones of Crimea and the Ukraine in April 2014, and expanded prohibitions after Malaysia Airline...Read More
(Kitco News) - Gold prices aretrading modestly higher in early-afternoon U.S. trading Thursday. Today, a hostof worries on the geopolitical front rose to the surface to put strong pressureon the U.S. stock market and produce some safe-haven demand for gold, whichbegan to surface in late-morning action. December gold futures were last up $3.00an ounce at $1,230.50. December Comex silver was last do...Read More
WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Thursday said he would no longer attend next week’s investment conference in Saudi Arabia, as the Trump administration awaited the outcome of investigations into missing Saudi journalist Jamal Khashoggi.Mnuchin announced the decision in a post on Twitter following a meeting with President Donald Trump and Secretary of State Mik...Read More
BRUSSELS (Reuters) - Italian Prime Minister Giuseppe Conte presented his country’s 2019 draft budget to EU leaders in Brussels on Thursday, but the summit did not discuss it in any detail, the head of the European Commission Jean-Claude Juncker said.“The Italian Prime Minister presented the Italian situation to us, with big talent and in a very clear way, and we did not ask him about i...Read More
Cleveland-Cliffs stock has been a long-term outperformer Mining stock Cleveland-Cliffs Inc (NYSE:CLF) is down 4.8% at $11.27 in afternoon trading, though a specific catalyst remains unclear. Regardless, CLF has been a climber on the charts, and below we will take a look at what the options market has priced in for the stock's third-quarter, post-earnings move; the company is scheduled to report b...Read More
WASHINGTON (Reuters) - The U.S. government on Wednesday refrained from naming China or any other trading partner as a currency manipulator, as it leans on import tariffs to try to cut a trade deficit with China.In its semi-annual currency report, the U.S. Treasury Department said a recent depreciation of China’s yuan currency will likely exacerbate the U.S. trade deficit, but U.S. officials...Read More
WASHINGTON (Reuters) - President Donald Trump threatened to deploy the military and close the southern U.S. border on Thursday if Mexico did not move to halt large groups of migrants headed for the United States from Guatemala, Honduras and El Salvador.“I must, in the strongest of terms, ask Mexico to stop this onslaught - and if unable to do so I will call up the U.S. Military and CLOSE OUR...Read More
(Kitco News) - Investors in China need to allocate up to 6% of their portfolios to gold, according to the World Gold Council (WGC), which sees the yellow metal as minimizing the negative effects of volatility.Chinese traders have had a tough year, with losses in both the equity and bond market spaces, said WGC Investment director Fred Yang.“China’s leading index, the CSI 300, has under...Read More
The VIX is set to snap its four-day losing streakLosses for the Dow Jones Industrial Average (DJI) are accelerating at midday, as investors continue to fret about the hawkish Fed meeting minutes and digest a big overnight sell-off in Chinese stocks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also lower, as corporate earnings begin to take center stage. Elsewhere, Wall Street's "fear...Read More
NEW YORK (Reuters) - The U.S. dollar index traded near one-week highs on Thursday as Treasury yields edged higher, after minutes from the Federal Reserve’s September meeting showed that Fed policy makers are largely united on the need to raise borrowing costs further.That came despite U.S. President Donald Trump’s view that interest rate hikes have already gone too far.Benchmark 10-yea...Read More