News
TSX futures slip on renewed US-Iran tensions; Bo C in focus
10+ hour, 27+ min ago (232+ words) June 10 (Reuters) - Futures tracking Canada's blue-chip stocks edged lower "on Wednesday, as global risk sentiment was "hurt by renewed U. S. -Iran hostilities, while investors awaited the Bank of Canada's rate decision due later in the day. June futures "on the S…...
Gold breaks toward $4, 000 as oil, yields weigh on metals - Kitco PM Report | Kitco News
1+ hour, 28+ min ago (217+ words) (Kitco News Wire) - Spot gold and silver prices are sharply lower after the close Wednesday, as the May inflation report, elevated Treasury yields and renewed U. S. -Iran escalation overwhelmed residual safe-haven demand. At the time of writing, spot gold was trading…...
Gold falls more than 2% on fading Middle East peace hopes
10+ hour, 8+ min ago (361+ words) June 10 (Reuters) - Gold slid to a more than "two-month low on Wednesday as fresh fighting in the Middle East dimmed hopes of a resolution to the U. S. -Israeli war with Iran, heightening concerns about inflation and interest rate hikes. Spot gold…...
Bank of Canada maintains rate at 2. 25%, says they "will not let higher energy prices become persistent inflation
8+ hour, 28+ min ago (406+ words) (Kitco News) - The Bank of Canada (Bo C) maintained its key overnight rate at 2. 25% on Wednesday, as expected, with the bank rate staying at 2. 50% and the deposit rate remaining at 2. 20%." The Bo C said economic activity in Canada has been weak…...
Bank of Canada expected to hold interest rates steady
13+ hour, 25+ min ago (425+ words) OTTAWA, June 10 (Reuters) - The Bank of Canada is expected to leave interest rates "unchanged on Wednesday as strong inflation and labor market data are offset by a weakening economy that slipped into a technical recession in the first quarter. That…...
Gold market exhales as U. S. CPI rises roughly in line with expectations
9+ hour, 48+ min ago (256+ words) (Kitco News) - The gold market is seeing some volatility with a modest relief rally as U. S. inflation pressures continue to rise, but in line with economists' expectations. Although higher energy prices are becoming embedded in the broader economy, according to some…...
Gold braces for make-or-break CPI print as rate hike fears mount
1+ day, 2+ hour ago (1786+ words) (Kitco Commentary) - Gold is trading near $4, 300 per ounce Tuesday, coiled ahead of what may be the most consequential near-term data release of the year: Wednesday's May consumer price index. With the Federal Reserve having held rates steady for months in…...
Gold's still-negative track; S&P poised to crack | Kitco News
1+ day, 5+ hour ago (619+ words) Can I start, mmb?" Oops, sorry, mmb." But you always say the S&P is gonna crack, but usually it just makes new highs!" We openly stand guilty as charged, Squire, albeit when it all goes wrong, "twill be massive…...
India's gold tariff hike fuels smuggling revival, squeezes banks and refiners
1+ day, 11+ hour ago (536+ words) MUMBAI, June 9 (Reuters) - India's sharp increase in gold import tariffs is fuelling a resurgence in smuggling that could exceed 100 "metric tons this year, as soaring grey market margins allow smugglers to undercut banks and refiners of the "precious metal, industry…...
Gold and silver will gain as rising debt and inflation reprice bonds and the broader market " Sprott's Wong
1+ day, 3+ hour ago (599+ words) (Kitco News) " Rising debt and inflation levels are repricing markets while the constraints on available policy responses favor hard assets, and the recent price pullback and subsequent consolidation of gold and silver hasn't violated this thesis, according to Paul Wong,…...