So another year has passed. How quickly it happened! But we hope that you did not get bored, and instead took time to learn more about the fascinating gold market. At first glance, 2017 seems to be a dull period for the yellow metal, as it was traded within a narrow range of $1,200-$1,300 for most of the year. However, all that glitters is not gold, and all that does not fluctuate like Bitcoin is...Read More
US Dollar drops after a lower-than-expected NFP. Gold jumps to $1323, remains below Thursday’s high. The US dollar weakened across the board after the release of the US employment report and pushed gold to the upside. The metal rose $6 in a few seconds, from $1316/oz to $1323 to test daily highs. It failed to break higher but it was holding near that area and also close to yesterday’...Read More
The Dow has kicked off 2018 with an epic rally, touching record highs for a third straight day. A round of bullish analyst attention for several blue-chip stocks is helping the index shrug off lackluster December jobs data, with Boeing Co (NYSE:BA) leading the 30 Dow stocks higher. In addition, analysts are calling for record highs for fellow blue chips Wal-Mart Stores Inc (NYSE:WMT) and UnitedHea...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage (Kitco News) - After a solid year, gold is looking very positive in 2018 and beyond, according to Tocqueville Asset Management.In a recently published year-end investor letter, Tocqueville’s senior portfolio manager John Hathaway said that a new gold rally could be triggered by several factors, including extreme valuations of financi...Read More
(Adds discussion of inversion risks, quotes)By Jonathan Spicer and Howard SchneiderPHILADELPHIA, Jan 5 (Reuters) - Weak wage growth and possible risks in the bond market mean the Fed should slow its pace of rate hikes for now, Philadelphia Federal Reserve Bank President Patrick Harker said on Friday, adding the central bank should probably move just twice in 2018.Even amid low inflation most cent...Read More
(Kitco News)- While off nearly four-month highs, the gold market isstill ending its first trading week of 2018 on a strong note as prices holdabove key support levels.According to analysts, gold continues to build on itsyear-end momentum, ending its fourth week of consecutive gains - longest weeklywin streak since mid-March. February gold prices last traded at $1,321.80 anounce, up almost 1% since...Read More
Pfizer Inc. (NYSE:PFE) stock has been on a hot streak to start the new year, notching a win in six out of the last eight sessions. There could be even more tailwinds in the coming weeks, with the Dow stock sending up a buy signal to short-term options traders right now.At last check, Pfizer stock was down 0.2% at $36.72, but remains a chip-shot from the annual high of $37.35 it touched on Dec. 18....Read More
* U.S. economy adds 148,000 jobs in Dec vs est. 190,000* Average hourly earnings rise 0.3 pct, in line with estimates* Energy stocks fall after oil prices retreat* Indexes up: Dow 0.34 pct, S&P 0.32 pct, Nasdaq 0.59 pct (Updates to early afternoon)By Sruthi ShankarJan 5 (Reuters) - Wall Street's main indexes extended their new year rally on Friday after weak December U.S. jobs data raised expe...Read More
• USD recovers some ground and prompts profit taking. • Further weighed down by risk-on mood/positive US bond yields. • US monthly employment details eyed for fresh impetus. Gold traded with a negative bias through the mid-European session and is currently placed near session lows, around the $1317 region. The US Dollar recovere...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage(Kitco News) - KitcoNews brought back a fan favorite this year in an effort to give YOU, ourdedicated readers, a voice! Aftera few weeks of voting, we have finally tallied up the results to unveil who ourreaders and viewers think merits the title of CEO of 2017. After siftingthrough thousands of responses, and the names of over 100 CEOs you...Read More
By Marc JonesLONDON, Jan 5 (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/ PARTY ON World stocks started the year with their best week in over a year and while it's tempting to say "same old, same old" as markets smash another host of milestones and records, you still have to take...Read More
Like a number of names in the semiconductor sector, auto stocks are having a monster start to 2018 -- after data on Wednesday showed 2017 sales held near record levels, despite the industry's first annual decline since 2009. Among the names pacing for impressive weekly gains are Fiat Chrysler Automobiles NV (NYSE:FCAU) and Navistar International Corp (NYSE:NAV). And if history is any guide, it cou...Read More
So another year has passed. How quickly it happened! But we hope that you did not get bored, and instead took time to learn more about the fascinating gold market. At first glance, 2017 seems to be a dull period for the yellow metal, as it was traded within a narrow range of $1,200-$1,300 for most of the year.However, all that glitters is not gold, and all that does not fluctuate like Bitcoin is n...Read More
By Ann Saphir, Lindsay Dunsmuir and Jason LangeSAN FRANCISCO/WASHINGTON, Jan 5 (Reuters) - Jerome Powell, President Donald Trump's pick to lead the U.S. central bank starting next month, backed the Federal Reserve's third bond-buying program only reluctantly, transcripts from the Fed's 2012 policy meetings show. "I'm supporting (the decision) with a certain lack of enthusiasm, and I am somewh...Read More
* Zinc reaches highest since August 2007 at $3,375/T* GRAPHIC-2017 asset returns: * LME/ShFE arb: (Updates with closing prices, adds details)By Maytaal AngelLONDON, Jan 5 (Reuters) - Zinc hit its highest in more than a decade on Friday as concerns over market tightness persisted, while copper hit a two-week low as Chinese investor interest was muted with the Lunar New Year holidays looming.Zinc st...Read More
* Graphic: sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote By Jemima KellyLONDON, Jan 5 (Reuters) - Sterling steadied against the dollar on Friday, ending the week at much the same levels it started at, with traders keen to see new developments on Brexit negotiations before taking new positions on the British currency. Economic data r...Read More
Stocks seemingly can't be stopped, as the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) scale fresh record highs. Today's gains comes despite this morning's mixed December jobs report and heavy selling on energy stocks, with the tech sector again leading -- evidenced by strong moves from Dow stocks Cisco Systems (CSCO) and Apple (AAPL). Meanwhile, the ISM non...Read More
* U.S. economy adds 148,000 jobs in Dec vs est. 190,000* Average hourly earnings rise 0.3 pct, in line with estimates* Cisco rises after BofA Merrill Lynch slaps 'buy' rating* Indexes up: Dow 0.19 pct, S&P 0.23 pct, Nasdaq 0.48 pct (Changes comment, adds details, updates prices)By Sruthi ShankarJan 5 (Reuters) - Wall Street's major indexes rose to record highs on Friday after weaker-than-expec...Read More
By Bruno FederowskiSAO PAULO, Jan 5 (Reuters) - Latin American currencies treaded water on Friday after a mixed batch of U.S. employment figures kept traders guessing about the pace of U.S. interest rate hikes.U.S. job growth slowed more than expected in December, but a pick-up in monthly wage gains pointed to labor market strength. Economists saw the figures, after a recent stretch of solid econo...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage(Kitco News) - Invest Like The Experts is back but with a twist! Known as a fan favorite, the Expert Series brings togetherwell-known investors and Kitco regulars to find out where they will be puttingtheir money in 2018. This time, we asked investor David Erfle how he would invest$100,000 in the mining sector this year. He also share...Read More