Since November 11 gold began to consolidate after completing the current leg of the most recent rally that began on November 4. The rally started one day after the conclusion of the November FOMC meeting. They announced that they would begin to taper their $120 billion asset accumulation later in the month. They announced that they would have a monthly reduction totaling $15 billion and continue t...Read More
This upcoming Thanksgiving will be the most expensive ever, and inflation will continue to be a serious concern for investors, said Gary Wagner, editor of TheGoldForecast.com who advocates that gold is still the ultimate store of wealth.On a technical basis, gold is still in its consolidating phase, Wagner told David Lin, anchor for Kitco News. "A break above $1,880 [gold price] would really signa...Read More
By Pete SchroederWASHINGTON, Nov 18 (Reuters) - U.S. banking regulators on Thursday finalized a rule that directs banks to report any major cybersecurity incidents to the government within 36 hours of discovery.Separately, the banking industry said it had successfully completed a massive cross-industry cyber security drill that aims to ensure Wall Street knows how to respond in the event of a rans...Read More
ReutersSYDNEY, Nov 18 (Reuters) - The Reserve Bank of Australia, like some other major central banks, has stepped up research into running its own digital currency, but remains unconvinced of the merits, its payments chief said on Thursday.The comments, made at a financial services conference, follow an Australian Senate report last month that called for laws to be changed in ways that were more a...Read More
By Tom WilsonLONDON, Nov 18 (Reuters) - Fraud and theft at decentralised finance platforms has totalled $10.5 billion so far this year, research showed on Thursday, laying bare the risks in the fast-growing but still mostly unregulated area of cryptocurrencies.So-called DeFi platforms allow users to lend, borrow and save - usually in cryptocurrencies - while bypassing traditional gatekeepers of fi...Read More
ReutersNov 18 (Reuters) - Gemini said on Thursday it had raised $400 million in a funding round led by hedge fund Morgan Creek Digital that valued the startup at $7.1 billion, becoming the latest crypto company to have raised money at high valuation in recent months.Led by Cameron and Tyler Winklevoss, Gemini was launched in 2015 as a platform for buying, selling, storing and earning cryptocurrenc...Read More
By Huw JonesLONDON, Nov 18 (Reuters) - SIX Swiss Exchange's new digital trading and settlement arm will issue a bond to show how blockchain can benefit mainstream securities and not just the cryptoassets it was originally intended for, the exchange said on Thursday.The Swiss Digital Exchange (SDX) will be the first fully regulated market infrastructure to issue a digital bond and use distributed l...Read More
Nov 16 (Reuters) - U.S. President Joe Biden's infrastructure and social spending legislation will not add to inflationary pressures in the U.S. economy, economists and analysts in leading rating agencies told Reuters on Tuesday.Biden has spent the past few months promoting the merits of both pieces of legislation - the $1.75 trillion "Build Back Better" plan and a separate $1 trillion in...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -The gold market continues to trade near a five-month highand despite its recent breakout rally, one international bank said that currentprices are still disappointing.In a report published Thursday, ana...Read More
(Kitco News) Despite worrying inflation levels, gold is not likely to surge over the next few years as the U.S. Federal Reserve begins to tighten its monetary policy stance, according to a report by Capital Economics."While our forecast that high inflation in the U.S. will be more persistent than the markets expect should ultimately mean that investors demand higher inflation compensation, we also...Read More
Mr. Michael Hudson reports HANNAN ANNOUNCES AGM RESULTSHannan Metals Ltd. has released the results from its annual general meeting of shareholders held on Thursday, Nov. 18, 2021, in Vancouver, B.C.Shareholders holding a total of 22,654,988 common shares were represented in person or by proxy at the AGM, representing 24.84 per cent of the votes attached to all outstanding common shares of the comp...Read More
WASHINGTON, Nov 18 (Reuters) - The number of Americans filing new claims for unemployment benefits fell close to pre-pandemic levels last week as the labor market recovery continues, though a shortage of workers remains an obstacle to faster job growth.The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy's health, also showed jobless bene...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -Gold and silver prices are moderately lower in midday U.S. trading Thursday, on routinedownside corrections and light profit taking from the shorter-term futurestraders. December gold was last down $7.7...Read More
Mr. Jeffrey Wilson reportsPRECIPITATE IDENTIFIES MULTIPLE PRIORITY TARGETS AT MOTHERLODE GOLD PROJECT IN NEWFOUNDLAND CANADA WITH COMPREHENSIVE DATA COMPILATIONPrecipitate Gold Corp. has released the latest target refinement results derived from an expanded compilation and review of historical data from the company's Motherlode gold project within the Burin peninsula of Southern Newfoundland, Can...Read More
Mr. Quentin Yarie reportsRED PINE CLOSES C$8,400,405 "BOUGHT DEAL" PRIVATE PLACEMENT OF FLOW-THROUGH SHARESRed Pine Exploration Inc. has closed its previously announced bought deal private placement with Haywood Securities Inc., as sole underwriter and bookrunner. The offering consisted of 12,923,700 flow-through shares of the company, including the full exercise of the underwriter's option, at a...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -The gold market is in a sweet spot and has the potential to hit$1,950 an ounce as inflation pressures continue to build, according to analystsat CIBC.Not only has the gold market broken out of a five-mo...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Thor Explorations (TSXV: THX) today announced an initial NI 43-101 standard Maiden Mineral Resource Estimate ("MRE") for the Makosa Deposit which is located in the southern portion of the Douta Gold Pr...Read More
Mr. David Stein reportsKUYA SILVER ACQUIRING STRATEGIC LAND POSITION AROUND BETHANIA PROJECTKuya Silver Corp.'s wholly owned Peruvian subsidiary, Kuya Silver Peru SAC, has won claims covering approximately 1,800 net hectares in the immediate vicinity of the Bethania mine, to which mining concessions will be granted. The new concessions will be registered as Tres Banderas 03, Tres Banderas 04, Tres...Read More
WASHINGTON, Nov 18 (Reuters) - Huge spending by governments kept the world economy afloat during the pandemic as officials mobilized a fiscal response not seen since World War Two to bolster household incomes and give businesses a fighting chance to survive the health crisis.But the resulting nearly $300 trillion pile of debt held by governments, businesses and households will leave many countries...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Bitcoin-U.S. dollar prices are lowerin early U.S. trading Thursday. A price uptrend on the daily bar chart is in jeopardy and the bulls need to show freshpower soon to keep it alive. More selling pres...Read More