Gold is trading moderately higher today, with the most active futures contract currently trading up $3.70 (+0.28%) at $1323 per ounce. Today’s gains have taken gold to its highest value so far in 2018. On Friday of last week, gold prices reached the former 2018 apex when it closed at $1322 per ounce. Although gold prices surged to an intraday high of $1327 on Thursday of last week, on a clos...Read More
LIMA, Jan 11 (Reuters) - Peru's central bank lowered the benchmark interest rate to 3 percent as widely expected on Thursday, citing weak economic growth and slowing inflation.Eight out of nine analysts polled by Reuters had forecast the 25-basis-point reduction to the key rate, with one forecasting a hold at 3.25 percent. (Reporting By Mitra Taj; Editing by Chris Reese) Disclaimer: The views exp...Read More
(Repeats. No change to text.)By John Ruwitch and Marius ZahariaSHANGHAI/HONG KONG, Jan 11 (Reuters) - China's adjustment to the way it sets the reference rate for its tightly managed currency, suspending a tool for fine-tuning the exchange rate, is a fresh warning to would-be speculators that gives the yuan scope to retreat after a year of heady gains.The decision by the central bank to reduce th...Read More
(Adds analyst quotes, table)By Jennifer AblanNEW YORK, Jan 11 (Reuters) - Investors' appetite for risk was on display this week as U.S.-based equity mutual funds attracted $1.45 billion of net inflows, their third straight week of inflows, and U.S.-based equity exchange-traded funds attracted $10.6 billion, according to Lipper data on Thursday. Moving in sympathy with equities, U.S.-based high-yie...Read More
(Kitco News) - As gold prices trade close to four-month highs, analysts from the Bank of China International said that commodities like gold have room to go even higher in 2018.By the fourth quarter of this year, gold could be looking at an average of $1,400 per ounce and copper at $7,500 a ton, analysts, led by Xiao Fu, the commercial bank’s head of commodity market strategy, said in a note...Read More
* Dudley warns on U.S. fiscal path, creditworthiness* Strong comments criticize Republican expectations* Dudley sees gradual rate hikes, inflation rebound in 2018 (Adds Kaplan, yield-curve comments)By Jonathan SpicerNEW YORK, Jan 11 (Reuters) - One of the Federal Reserve's most influential members on Thursday offered a point-by-point critique of U.S. President Donald Trump's sweeping tax cuts, war...Read More
(Updates prices to close)* TSX ends up 38.99 points, or 0.24 percent, at 16,286.94* Half of the TSX's 10 main groups move higher TORONTO, Jan 11 (Reuters) - Canada's main stock index rose on Thursday as gains for energy companies and some miners offset a pullback in marijuana producers and a fall in Shaw Communications Inc after its quarterly earnings disappointed.* The Toronto Stock Exchange's...Read More
(Corrects spelling of doctor's first name to "Ronny" instead of "Ronnie" in penultimate paragraph)WASHINGTON, Jan 11 (Reuters) - U.S. President Donald Trump said on Thursday he expects a medical examination he is to undergo on Friday will go well and that he would be surprised if it did not.Answering questions from reporters after an event on prison reform at the White House,...Read More
Stocks resumed their 2018 rally today, with all three major indexes reaching a fresh record high. The impressive gains can be mostly accredited to the energy sector, with Chevron(CVX) stock leading the Dow's triple-digit rally. Traders also digested the latest inflation data, andWalmart (WMT) plans to boost wages and expand employee benefits following tax reform. Looking ahead, Wall Street will ha...Read More
Jan 12 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6067.6 -29.1 NZX 50**8,250.44 -114.46DJIA**25,529.25160.12NIKKEI**23,710.43-77.77Nasdaq**7,204.20550.513FTSE**7,762.94 14.43S&P 500** 2,764.46 16.27 Hang Seng** 31,120.3946.67SPI 200 Fut 6023 10STI** 3,512.68 -7.77SSEC**3,425.5735 3.74KOSPI** 2487.91-11.84-------------------------------------------------------------...Read More
Jan 12 (Reuters) - Australian shares are expected to recover from two straight sessions of falls on Friday, latching on to solid leads from Wall Street inspired by higher oil prices.Wall Street surged to record highs on Thursday on the back of rising oil prices and as investors bet on a strong U.S. corporate earnings season. Oil settled at three-year highs on signs that global inventories were tig...Read More
TORONTO, Jan 11 (Reuters) - Canada's main stock index ended higher on Thursday, as gains for energy companies and miners offset falls among marijuana producers and in Shaw Communications Inc , whose earnings disappointed. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 38.99 points, or 0.24 percent, at 16,286.94. (Reporting by Alastair Sharp Editing by Chizu Nomiyam...Read More
NEW YORK, Jan 11 (Reuters) - Wall Street closed at record highs on Thursday as rising oil prices lifted energy stocks and investors bet on a strong U.S. corporate earnings season.The Dow Jones Industrial Average rose 205.6 points, or 0.81 percent, to 25,574.73, the S&P 500 gained 19.33 points, or 0.70 percent, to 2,767.56 and the Nasdaq Composite added 58.21 points, or 0.81 percent, to 7,211.7...Read More
ALL TIMES IN EST/GMT -------------------------------------------------------0830/1330: The Commerce Dept. issues Retail Sales for December.0830/1330: The Labor Dept. issues Consumer Price Index and Real Earnings for December.1000/1500: The Commerce Dept. issues Business Inventories for November.------------------------------------------------------- DIARY - Federal Reserve Events U.S. Indicators (...Read More
USD weakens in the NA session post-PPI data. Wall Street recovers recent losses on Thursday. Gold sticks to modest daily gains. Despite the broad-based USD weakness, the XAU/USD pair is having a difficult time extending its gains on Thursday. As of writing, the pair was trading at $1321.25, adding 0.35% on the day. Earlier today, the data released by the U.S. Bureau of Labor Statistics show...Read More
(Adds details about the probe, background)Jan 12 (Reuters) - New Zealand's overseas investment regulator is investigating Agria Corporation, the largest shareholder in New Zealand agriculture firm PGG Wrightson Ltd , PGG said on Thursday, confirming media reports. PGG Wrightson said the Overseas Investment Office (OIO) was investigating Hong-Kong based Agria on "good character" grounds....Read More
LIMA, Jan 11 (Reuters) - Peru logged a fiscal deficit equal to 3.2 percent of gross domestic product in 2017, wider than the government's 3 percent target and the 2.6 percent deficit registered in 2016, the central bank said on Thursday.A drop in government revenues made up 0.5 percentage point of last year's deficit, followed by increased government spending, which contributed 0.2 point to the sh...Read More
(Kitco News) - Gold is up 6% since the Fedraised rates last month, despite net outflows in North American-basedgold-backed exchange traded funds, but one trader said that not all investors arefleeing from the yellow metal.In an interview with KitcoNews, Vince Lanci, founder of Echobay Partners, said that he is shrugging offthe impact of recent outflows in SPDR Gold Shares, the world’s bigges...Read More
* Euro gains after ECB minutes released* Dollar index weak after U.S. producer prices fall* Bitcoin slips on S.Korea plans to ban cryptocurrency trading (Updates prices, market activity, comments)By Saqib Iqbal AhmedNEW YORK, Jan 11 (Reuters) - The euro rallied against the greenback on Thursday after the European Central Bank said it could revisit its communication stance in early 2018, boosting e...Read More
WASHINGTON (Reuters) - The U.S. Senate Banking Committee will hold a second vote on Jan 17 over the Trump administration’s nomination of Fed Governor Jerome Powell to lead the Federal Reserve, the committee’s calendar showed on Thursday.The committee already backed Powell to head the U.S. central bank in a Dec 5 vote, but a second vote is required because the full Senate failed to appr...Read More