(Kitco News)- The gold market is off its recent highs, starting the week on a soft note as the U.S. dollar bounces off a three-year low; however, analysts aren't ready to call an end to the yellow metal's long-term uptrend.While U.S. equity markets are closed Monday for Presidents' Day, the gold market is open, with electronic markets trading until noon, ET. April gold futures last traded at $1,34...Read More
BUENOS AIRES, Feb 19 (Reuters) - The Argentine economy grew "close to 2.8 percent" last year, Guido Sandleris, head of the advisory body to the Treasury Ministry, told a gathering of Japanese business leaders on Monday. The data, according to Sandleris, shows a clear recovery of the third-largest economy in Latin America after a contraction of gross domestic product of 2.2 percent in 201...Read More
LONDON, Feb 19 (Reuters) - Latvia's benchmark bond fell on Monday, after one of the country's biggest banks was accused of breaching Western sanctions on North Korea and its central bank governor was detained by the country's anti-corruption agency.The moves saw the main Oct 2026 euro-dominated bond drop 0.67 cents to 96, its lowest since August. The yield, which moves inverse to the bond's price,...Read More
BRUSSELS, Feb 19 (Reuters) - Euro zone finance ministers should decide on Monday to disburse the fourth tranche of aid to Greece, France's Finance Minister Bruno Le Maire said."We should decide today the payment of the fourth tranche of aid to Greece, given the reforms that have been the Greek government accomplished for several months," Le Maire told reporters ahead of a meeting of euro...Read More
BRUSSELS, Feb 19 (Reuters) - Germany's acting Finance Minister Peter Altmaier on Monday threw his weight behind Spain's Luis de Guindos in the race for the vacant job of European Central Bank vice president."It would be an excellent choice if the Eurogroup agreed on him today or at the next meeting," said Altmaier, a close ally of Chancellor Angela Merkel, speaking shortly before a meeti...Read More
KARACHI, Pakistan, Feb 19 (Reuters) -DAILY INDICATORS Monday PREVIOUSFloating Interbank Rate (Rs/$)110.45/110.57110.43/110.53Rupee/US$ (kerb market) 111.50 111.30Karachi 100-share Index 43,572.6743,627.10Gold (Karachi) Rs/10 gm 48,471.4348,642.43CENTRAL BANK AUCTIONS Treasury bill auction results: Cut-off yield (pct) at auction onFeb 14Jan 31Three-month bills6.21446.2144Six-month billsBids notBids...Read More
BRUSSELS, Feb 19 (Reuters) - European Commissioner for Economic and Financial Affairs Pierre Moscovici said he had no comment specifically on the accusations of money laundering against Latvia's ABLV Bank but said that in general the EU always condemned money laundering.Asked to comment on the detention of the Latvia's central bank governor by police and the European Central Banks decision stop al...Read More
BRUSSELS, Feb 19 (Reuters) - Belgium's consumer confidence index fell in February as respondents became more downbeat about the Belgian economy their finances, the central bank said on Monday. The index fell to 1 point in February from 4 in the previous month.Feb 2018Jan 2018Feb 2017Belgian economy 811-2Unemployment -1-610Household finances -2 0 0Ability to save-4-2 3 Overall index 1 4-2(The numbe...Read More
LONDON, Feb 19 (Reuters) - The London Stock Exchange Group will launch a contract to compete directly with rival InterContinental Exchange to wean markets off Libor by 2021, the British bourse said on Monday.LSE's CurveGlobal derivatives arm is set to launch its three-month SONIA futures contract in the second quarter of this year. SONIA or Sterling Overnight Index Average, is a benchmark administ...Read More
LONDON (Reuters) - Oil prices hit their highest level in nearly two weeks on Monday, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising U.S. production tempered gains.European shares rose for a fourth straight session, with global stocks set for a sixth session of gains, following a sell-off triggered by fears of creeping inflation and higher bor...Read More
LONDON (Reuters) - World stocks were set for a sixth session of gains on Monday, extending a recovery from a selloff sparked by fears of creeping inflation and higher borrowing costs.Gains were marginal, however, and scored largely in Asian markets, with Japan’s Nikkei 225 up 2 percent. European markets gave up initial gains to turn lower, with the pan-European STOXX index down 0.2 percent.M...Read More
BRUSSELS, Feb 19 (Reuters) - Ireland's finance minister said on Monday he would withdraw the candidacy of Irish central bank governor Philip Lane from the race for the position of European Central Bank vice president and support Spain's Luis de Guindos for the job.Paschal Donohoe told reporters on entering a meeting of euro zone finance ministers that will decide on a joint candidate that he would...Read More
LONDON (Reuters) - The dollar enjoyed a small rebound on Monday as investors bought back the greenback after its plunge to three-year lows, although analysts said any recovery looked set to be brief with dollar bears still out in force.The U.S. currency has weakened this year as expectations that central banks will start raising interest rates in other parts of the world erode its perceived yield...Read More
* Analysts say dollar weakness to continue* Speculators cut net gold longs in the week to Feb. 13* SPDR Gold holdings rise 0.4 percent on Friday(Updates throughout, adds LONDON dateline) By Zandi ShabalalaLONDON, Feb 19 (Reuters) - Gold prices were mostly flat on Monday as the dollar clawed back some recent losses and stocks rose, but U.S. inflation fears kept buyers in the metal.Spot gold was fla...Read More
Theequity markets are closed today; however, the futures markets are open. Equityfutures are higher which would have led to the seventh day in a row of gains.Just three weeks ago, equities looked like they were going to collapse. Nowthey look like they may never go down again. Will the “rip your face off” rallycontinue or will Darth Vader return? Goldhas followed a very similar pattern...Read More
Headlines regarding the recent explosion in equity volatility were somewhat hyper-focused on the pitfalls of trading volatility derivatives, for which the soon-to-be liquidated VelocityShares Daily Inverse VIX Short-Term ETN (XIV) was the unfortunate "poster child." But while markedly less catastrophic and climactic, the price action of late in the iPath S&P 500 VIX Short-Term Futures ETN (VXX) ha...Read More
* U.S. dollar enjoys small bounce* Euro slips but holds close to $1.24* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 19 (Reuters) - The dollar enjoyed a small rebound on Monday as investors bought back the greenback after its plunge to three-year lows, although analysts said any recovery looked set to be brief with dollar bears still out in force.The U.S. currency has weakened this y...Read More
MADRID, Feb 19 (Reuters) - Spain plans to issue between 1 billion and 2 billion euros($1.2 billion-$2.5 billion) in 3- and 9-month Treasury bills on Tuesday, the Treasury said on Monday. ($1 = 0.8060 euros) (Reporting by Paul Day) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accura...Read More
PRAGUE, Feb 19 (Reuters) - The Czech Finance Ministry will offer up to 24 billion crowns ($1.18 billion) worth of domestic government bonds in six primary auctions taking place in March, the ministry said on Monday. The ministry also confirmed the maximum expected nominal value of bonds sold in auctions in the first quarter was planned at 60 billion crowns.The ministry added it would offer up to 2...Read More
COLOMBO, Feb 19 (Reuters) - The Sri Lankan rupee edged down on Monday on importer dollar demand, while political uncertainty continued to weigh on investor sentiment, dealers said. The rupee ended at 155.40/50 per dollar, compared with Friday's close of 155.10/20. The rupee hit a record low of 155.90 on Wednesday."Exporters were reluctant to sell (dollar) due to political uncertainty," a...Read More