India has done a bilateral forex swap agreement with Japan and China separately. China has done a forex swap agreement with Japan. Forex swap agreement between large nations like India, China and Japan will result in more and more nations copying them. Net result is a decline in the US dollar share in global trade and a decline in the purchasing power of the US dollar. Gold will be a medium of s...Read More
Yes - cash is back. Once again people who don't want to take on the risks of the stock market or the bond market or the gold market or any other market - and just want a reasonable rate of return on their savings without having to worry - are starting to feel some love. Interest rates on two-year certificates of deposit or CDs - not quite "cash," but pretty close - have just cracked 3% for the fir...Read More
An extremely robust U.S. equities markets along with dollar strength put slight pressure on gold pricing today. The roller coaster ride that defines the U.S. equities market continues to oscillate strongly with significant gains today immediately following yesterday's dynamic selloff. Yesterday the Dow Jones Industrial Average traded within a range of over 900 points. Trading to a high which was a...Read More
(Kitco News)- Optimism ishigh among delegates at the London Bullion Market Association’s 2018 preciousmetals conference, even as general investors continue to ignore the sector.In aconference poll, 682 attendees said that they see gold prices rising to $1,532an ounce by the next conference in 2019. The outlookcomes as gold prices struggled to hold on to last week’s three-month high.Dec...Read More
With gold closing around $1236, the market closing above the 9-day weekly moving average is confirmation that coming into this week we have a bullish trend momentum.If the gold market closes above $1235, the first target this week is the sell 1 (S1) level of $1247, and the second target is the sell 2 (S2) level at $1258.If the market comes down below $1235, it would negate this bullish trend to ne...Read More
Consumer confidence hit an 18-year high for OctoberStocks held onto big gains throughout today's session, thanks to a slew of positive corporate earnings and reduced trade anxieties. The Dow finished up over 430 points, aided by well-received quarterly results from Coca-Cola (KO). Meanwhile, the China tariff fears that triggered yesterday's sharp pivot lower were assuaged today after President Don...Read More
Gold has been unable to keep up the bid, losing strength to the dollar and US yields as investors look elsewhere for a return on investment. The risk mood has improved as US Treasuries, and the Japanese yen take a hit while US stocks stabilise and consolidate the recent series of daily losses. Technical support has failed at S1 1225 and price trades below the 21/10- 4hr SMA bearish crossove...Read More
WASHINGTON (Reuters) - The U.S. Interior Department’s acting inspector general has referred a probe into Interior Secretary Ryan Zinke’s conduct to the Justice Department for further investigation, media reports said on Tuesday, citing unnamed sources.Referring a probe to the Justice Department means it will explore whether evidence warrants a criminal investigation. Mary Kendall, the...Read More
SAN JOSE, Oct 30 (Reuters) - Costa Rica could face difficulty servicing its public debt obligations if President Carlos Alvarado's proposed fiscal reform is not approved soon, Central Bank President Rodrigo Cubero told Reuters in an interview.Costa Rica's external and domestic government debt is equivalent to 53 percent of gross domestic product (GDP), exposing its economy to the whims of rising i...Read More
WASHINGTON (Reuters) - Republican campaigns took a defensive approach a week before elections to determine control of the U.S. Congress, with the party spending more to try to hold on to previously secure House seats and President Donald Trump preparing a six-day trip focused on Senate races.The National Republican Congressional Committee on Tuesday launched a wave of ads targeting 14 House of Rep...Read More
(Reuters) - Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John’s International Inc (PZZA.O), the world’s third-largest pizza delivery company, people familiar with the matter said on Tuesday.The buyout interest in Papa John’s comes amid a battle for control with its founder John Schnatter, who owns about 30 percent of the compa...Read More
BOSTON - (Kitco News)- While there is no clear consensus on where gold isgoing in the near term, the one thing most participants at the LBMA 2018 preciousmetals conference can agree on that nobody is paying much attention to thespace. “Gold is almost absent in traditional assetmanagement,” said David Seif, director and economist at Point72, in a paneldiscussion at the conference Monday...Read More
The International Council on Mining and Metals (ICMM) and leading suppliers have announced an ambitious plan to make mining vehicles cleaner and safer during the International Mining and Resources Conference (IMARC) in Melbourne, Australia.Following two innovation summits between ICMM members and suppliers, a governance model for collaboration has been designed and working groups have been estab...Read More
LISBON (Reuters) - Portugal’s parliament approved the Socialist government’s 2019 budget bill on Tuesday, setting the scene to nearly eliminate the deficit amid projected healthy economic growth and with more income for families.Portugal, which only emerged from a debt crisis in 2014, has managed to combine fiscal discipline with policies to support strong growth under the center-left...Read More
One investor guru thinks this may be the next big play to make in gold.The world's wealthiest investors always grab the headlines...Especially with a track record that's off the charts, producing explosive gains like this:$1.29 to $23.86, where $10,000 grew to over $184,000!Or how about his record-breaking score last month, 9 cents Canadian to C$1.18 in about 2 weeks, turning $10,000 into over $1...Read More
LONDON, ON. - Fortune Minerals reports that the governments of Canada and the Northwest Territories have accepted the environmental assessment approval for the modified Tlicho all-season road. The modifications were developed with the Tlicho government through a consultation process managed by the Mackenzie Valley Environmental Impact Review Board. The Tlicho government also approved the board...Read More
NEW YORK (Reuters) - The dollar held on to modest gains near a 2 1/2-month high against a basket of major currencies on Tuesday, supported by worries about an escalation of the Sino-U.S. trade war and more signs the United States economy is outperforming its peers.The dollar index, which measures the greenback against six major currencies, was 0.25 percent higher at 96.823. Earlier in the session,...Read More
BERLIN (Reuters) - German Chancellor Angela Merkel has said she will not seek re-election as leader of the center-right Christian Democrats (CDU) at a congress in December. Merkel, 64, also ruled out running for a fifth term as chancellor in 2021.Several CDU politicians have announced bids to succeed Merkel as party leader. Here are some facts about the candidates who could step into her shoes:THE...Read More
Declining short interest and heavy put open interest could create tailwinds for the stock Blue-chip pharmacy name Walgreens Boots Alliance Inc. (NASDAQ:WBA) has surged 29% off its late-June lows, and recently topped out north of $78 -- marking its highest point since January.A pullback from this area last week was cushioned by the shares' 20-day moving average, as well as their year-to-date breake...Read More
* Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Adds detail on S&P statement, updates prices)LONDON, Oct 30 (Reuters) - Sterling sank against the dollar and euro on Tuesday as concern about Britain’s departure from the European Union led investors to largely ignore hopes of an end to austerity raised by finance...Read More