Gold is quiet at the start of the week as investors prefer risk-on trades.Speculators were bullish gold over Jan. 2-9, the CFTC shows.ETF investors took some profit over Jan 5-12, according to FastMarkets' estimates.The global macro backdrop is gold-positive. Brief analysis of the dollar and US real rates.I am long GLD. Introduction Welcome to my Gold Weekly. In this report, I wish to discuss mai...Read More
BRASILIA, Jan 16 (Reuters) - The Brazilian central bank has called for all vice presidents of state lender Caixa Econ??mica Federal to step down following the investigation of alleged corruption at the bank, a person with knowledge of the matter told Reuters on Tuesday.The central bank's request follows similar demands by federal prosecutors last month which the government initially ignored, sourc...Read More
(Adds detail, quotes)ZURICH, Jan 16 (Reuters) - Swiss National Bank Chairman Thomas Jordan said negative interest rates were still needed to tame the Swiss franc, which he said remained "highly valued.""Switzerland has had a strong franc for a long time and it remains highly valued," Jordan told an event in Zurich on Tuesday."That's why we have low interest rates, they sh...Read More
(Kitco News) - Gold prices ended the U.S. day session with modest gains Tuesday and scored afour-month high in overnight action. Meantime, silver prices were slightly upand hit a two-month high overnight. The precious metals markets are beingsupported by a plunging U.S. dollar index and a soaring Euro currency. February Comex gold was last up $2.40 an ounce at $1,337.40. March Comex silver was las...Read More
(Adds details on the acquisition; background on consolidation in the HFT industry)By John McCrankNEW YORK, Jan 16 (Reuters) - Hudson River Trading LLC has agreed to buy Sun Trading parent Sun Holdings LLC, it said on Tuesday, the latest takeover in a shrinking high frequency trading industry beset by low market volatility and rising costs. The deal between the two closely held firms is expected t...Read More
WASHINGTON, Jan 16 (Reuters) - The U.S. Treasury has warned U.S. investors to approach Venezuela's proposed "petro" cryptocurrency with caution, saying that it may contravene U.S. sanctions against the government of Venezuelan President Nicolas Maduro."Available information indicates that, once issued, the petro digital currency would appear to be an extension of credit to the Venez...Read More
Source: Adrian Day for Streetwise Reports 01/15/2018Money manager Adrian Day provides updates for a handful of companies in his portfolio.A day late and a dollar (in this case, a penny) short: The day after our last recommendation, Evrim Resources Corp. (EVM:TSX.V, 0.42 x 0.44) opened above our limit and has moved up dramatically ever since, trading as high as 47 cents on Jan. 12. Another resp...Read More
* Citigroup, UnitedHealth jump after Q4 results* GE slides after saying it would take $6.2 bln charge in Q4* Merck gains on positive Keytruda lung cancer data* Indexes up: Dow 0.59 pct, S&P 0.23 pct, Nasdaq 0.25 pct (Updates to early afternoon)By Sruthi ShankarJan 16 (Reuters) - The Dow Jones Industrial Average raced past the 26,000 mark for the first time on Tuesday as fourth-quarter earnings...Read More
VANCOUVER (Reuters) - Participants at a 20-nation meeting on North Korea said on Tuesday that sanctions pressure must be maintained on Pyongyang to force it to abandon its nuclear weapons program.“We must increase the costs of the regime’s behavior to the point that North Korea must come to the table for credible negotiations,” U.S. Secretary of State Rex Tillerson told the one-d...Read More
Chip stocks are trading higher with the broader stock market today, boosted by a fresh round of bullish brokerage notes for Nvidia (NVDA). Among those rallying with its sector peers is Advanced Micro Devices, Inc. (NASDAQ:AMD), last seen trading up 0.7% at $12.10. However, the shares remain stuck below two key technical levels, and if history is any guide, AMD stock could underperform this year. S...Read More
By Girish GuptaCARACAS, Jan 16 (Reuters) - Advisers to the Venezuelan government are recommending it sell $2.3 billion of its new cryptocurrency, the petro, in a private offering at a discount of up to 60 percent, according to a document reviewed by Reuters.President Nicolas Maduro is pressing ahead with an attempt to capitalize on the success of cryptocurrencies like bitcoin by creating one for V...Read More
ZURICH, Jan 16 (Reuters) - Swiss National Bank Chairman Thomas Jordan said negative interest rates were still needed to tame the Swiss franc, which he said remained "highly valued.""Switzerland has had a strong franc for a long time and it remains highly valued," Jordan told an event in Zurich on Tuesday. (Reporting by John Revill and Angelika Gruber) Disclaimer: The views exp...Read More
NEW YORK, Jan 16 (Reuters) - Hudson River Trading LLC said on Tuesday it agreed to buy Sun Trading parent Sun Holdings LLC in the latest example of consolidation in the high frequency trading industry, which has been in a years-long decline amid low market volatility and rising costs. Terms of the deal between the two closely-held companies were withheld. (Reporting by John McCrank) Disclaimer: T...Read More
(Adds details)ABUJA, Jan 16 (Reuters) - Nigeria expects to raise $700 million from international sources as part of a $3.5 billion in borrowing earmarked in the 2017 spending plan, the Debt Management Office (DMO) said on Tuesday.The DMO gave no details of which sources the government could tap but director general Patience Oniha told Reuters in October the country is talking to the World Bank ab...Read More
(Kitco News)- After animpressive run in 2017, the World Gold Council sees four factors that will continue topush gold prices higher in the new year.In a reportreleased Tuesday, the WGC said that increased market volatility, a rotationinto defensive assets, a growing global middle class and growing markettransparency are all bullish factors that will help drive gold prices higher,after ending 2017...Read More
U.S. stocks have been on a tear in January, with the tech-rich Nasdaq touching yet another all-time high out of the gate today. What's more, we just identified three high-flying tech stocks with options at a bargain: Cognizant Technology Solutions Corp (NASDAQ:CTSH), Seagate Technology PLC (NASDAQ:STX), and Cypress Semiconductor Corporation (NASDAQ:CY). Below, we take a look at how CTSH, STX, and...Read More
Bank earnings are back in focus this week, and financial institution Bank of America Corp (NYSE:BAC) is expected to report its fourth-quarter earnings before the market open tomorrow,Jan. 17. Below, we take a look at how BAC stock has been faring ahead of its highly anticipated report, and how options traders expect the bank shares to react.Bank of America stock has had a decent year, picking up...Read More
Mr.Peter Grosskopf reports SPROTT COMPLETES ACQUISITION OF CENTRAL FUND OF CANADA Sprott Inc. has successfully completed its previously announced acquisition of the common shares of Central Fund of Canada Ltd. (CFCL) and the right to administer and manage CFCL's assets.CFCL's Class A shareholders are now unitholders of the newly created Sprott Physical Gold and Silver Trust. The new trust will beg...Read More
By Ben MartinLONDON, Jan 16 (Reuters) - Collapsed British firm Carillion, which has come under political fire for paying dividends while racking up big debts and a pension deficit, has handed more than $1 billion to shareholders since it was created 19 years ago, a Reuters analysis shows.The construction company raised its payout to shareholders every year, taking its dividends from 4 pence-a-shar...Read More
(Updates prices, adds comment)By Jemima Kelly and Gertrude Chavez-DreyfussLONDON/NEW YORK, Jan 16 (Reuters) - Bitcoin slid as much as 18 percent on Tuesday to a four-week low, as worries about a regulatory crackdown on the market spread after reports suggested it was still possible that South Korea could ban trading in cryptocurrencies.Bitcoin's slide triggered a selloff across the broader crypto...Read More