The steepest pullback in stocks since the U.S. presidential election reveals investor angst about President Donald Trump's ability to push through major reforms, leaving stocks vulnerable to a long-anticipated correction. The S&P 500, in its second longest bull market ever, has risen close to 10 percent since the Nov. 8 election on optimism about Trump's […]
A U.S. judge formally approved Peabody Energy Corp's (BTUUQ.PK) plan to emerge from bankruptcy late Friday after the coal producer struck a settlement with the U.S. government over legacy environmental claims at a gold and metal mining subsidiary. Under a last-minute deal with the U.S. Department of Justice, Peabody agreed to create a $43 million […]
The new Platinum benefits will include richer credits for spending, access to more airport lounges, special dining and entertainment options and free use by family members of an American Express Gold card, according to Janey Whiteside, general manager of Global Charge Products, Benefits & Services for American Express. The changes, which will start on March […]
Chappy Hakim, chief executive of miner Freeport-McMoran Inc's (FCX.N) Indonesian unit, has resigned, the company said on Saturday, after the parent firm declared force majeure on copper concentrate shipments from its Grasberg mine in Papua. Freeport, which has been negotiating with the Indonesian government after halting exports due to new mining rules, said on Friday […]
U.S. retail sales rose more than expected in January and consumer prices recorded their biggest gain in nearly four years, boosting prospects of an interest rate increase from the Federal Reserve next month. The economy's strengthening outlook was also bolstered by other data on Wednesday showing manufacturing and mining production rising last month as the […]
Appetite for stocks and the euro ebbed on Tuesday as political and economic uncertainty sent investors sheltering in the Japanese yen and gold, while expectations China's foreign exchange reserves had fallen for a seventh month added to nervousness. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade. Japan's Nikkei (.N225) […]
The U.S. dollar fell to a seven-week low against a basket of other major currencies on Monday and global stock markets were shaky over investor concerns about protectionist rhetoric by U.S. President Donald Trump. U.S. Treasury yields slipped, with benchmark yields posting their biggest one-day drop in more than two weeks and gold rallied as […]
Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to avoid being crippled by an upcoming multi-billion dollar writedown. The industrial conglomerate has distributed non-disclosure agreement forms to various funds including private equity firm Silver Lake, […]
A month ago, the dollar and stock markets were riding high as investors bet that the Trump administration, together with the Republican-controlled Congress, would usher in an era of lower taxes, more government spending and looser regulations. Longer-dated Treasury yields, which move inversely to the price of bonds, jumped to their highest levels in more […]
Investors bailed out of sterling and stock markets in Europe and Asia on Monday, seeking shelter in gold and the Japanese yen as uncertainty over the terms of Britain's divorce from the European Union undermined appetite for risky assets. The dollar (.DXY) rose, except against the yen, rebounding after suffering its worst week since November […]
Oil, gold and base metal prices also advanced, as signs of solid factory growth in China and Europe gave the global manufacturing sector a solid boost heading into the new year. The dollar pulled back 0.1 percent to 117.33 yen (JPY=D4) on Tuesday, after jumping almost 0.6 percent on Monday, its biggest one-day gain in […]
Rate hike fears and a strong dollar trashed gold this week, driving down the metal and associated ETFs to the lowest levels since Brexit. The inverse relationship between gold and the dollar is well documented. Hence, the selloff in the yellow metal makes perfect sense in light o…
Goldman Sachs Group Inc. says that a strategic buying opportunity may open up in gold should prices drop substantially below $1,250 an ounce, with bullion offering investors a way to protect themselves …
Gold may be in for a bumpy ride in the final quarter as Republican candidate Donald Trump now has a 40 percent chance of winning the presidential election and investors will be preparing for the possibility …
Gold investors seem to agree: Don’t fight the Federal Reserve.
Jim Cramer revealed the truth behind the price of black gold.
The 18-karat gold Apple Watch Edition has been discontinued, dead just a year and a half after it began.
Ryan Lochte is banned from swimming through next June and will forfeit $100,000 in bonus money that went with his gold medal at the Olympics, part of the penalty for his drunken encounter at a gas station in Brazil during last month's games.
A number of big-name hedge fund managers have cut back their bets on gold during the second quarter. Prominent hedge fund manager Stanley Druckenmiller, who now runs Duquesne Capital as a family-office hedge fund, closed his entire position in the SPDR Gold Trust ETF (GLD), whic…
The International Energy Agency is trimming its 2017 forecasts for global demand by 100,000 barrels a day. Now, they are buying gold at about half of their usual aggregate rate this year.
Investors’ rabid appetite for gold is showing no signs of abating, as figures from the World Gold Council show record investment in the first half of 2016.