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) - According to the latest data by Statistics South Africa (Stats SA), the domestic mining production decreased by 3.4% year-on-year in September 2021.According to the report, the largest negative contrib...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 prices continue their upward climb, ending five months of consolidation after inflation pressure rose to their highest level in 31 years. According to Sprott CEO Peter Grosskopf, the precious metal...Read More
Chris Vermeulen, chief market strategist at https://TheTechnicalTraders.com discusses with David Lin, anchor for Kitco News, the stock market sectors with the largest upside potential for the New Year, as well as the sectors investors should avoid. "GDX and SLV were in a bear market just a week ago," Vermeulen said. "They have moved to a recovery stage. Now they're in yellow, which is accumulation...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) - Caledonia Mining (NYSE: CMCL) announced Thursday that in Q3 2021, the company produced 18,965 ounces of gold in Zimbabwe (Q3 2020: 15,155 ounces), which is a new quarterly production record for Blanket...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 Fields reported today that it had a solid September 2021 quarter, with attributable gold equivalent production for Q3 2021 of 606 koz,up 9% compared to 557 koz produced a year ago."South Deep in p...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) - Harmony Gold (NYSE: HMY) reported today that its September quarter 2021 (Q3 2021) gold production of 413,714 oz was 32% higher than a year ago (Q3 2020: 313,725 oz), primarily due to improved productio...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) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have...Read More
Nov 11 (Reuters) - Oil prices drifted lower on Thursday, as the market grappled with concern over increasing U.S. inflation, and after OPEC cut its 2021 oil demand forecast due to high prices.Brent crude futures were down 46 cents to $82.19 a barrel by 12:24 p.m. EDT (1724 GMT) after falling earlier to $81.66. U.S. West Texas Intermediate (WTI) futures were down 50 cents to $80.84 after hitting 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) - Endeavour Mining (LSE, TSX:EDV) announced Thursday that the company produced 382 koz of gold in Q3 2021, an increase of 57% from Q3 2020 (244 koz), due to the full benefit of consolidated production fr...Read More
(Kitco News) Gold's narrative has shifted after the latest round of hot U.S. inflation data, according to MKS PAMP GROUP. And here's what to watch with the latest surge higher."There's a fundamental change from the previous 'thinking' (strong CPI = faster Fed tapering schedule = lower gold) to strong CPI = some fear, not an acceptance of inflation = higher gold," said MKS PAMP GROUP head of metals...Read More
* U.S. CPI rises at fastest pace in 31 years* Market is spooked by inflation data - analyst* Silvers hits more than 3-month highNov 11 (Reuters) - Gold prices neared the five-month high they touched in the previous session after data showing U.S. consumer prices surged last month prompted a rush into the precious metal seen as a hedge against inflation.Spot gold rose 0.6% to $1,861.46 per ounce by...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) -Renewed focus on global decarbonization as the United NationsClimate Change Conference (COP26) wraps up will lead to more demand forcritical industrial metals, according to commodity analysts at Bank of...Read More
Mr. Carl Lofberg reportsFIREFOX GOLD COMPLETES ANOTHER ROUND OF DRILLING AT MUSTAJARVI PROJECT AND MOVES DRILL TO UTSAMO PROSPECT IN NORTHERN FINLANDFirefox Gold Corp. has provided an update on its diamond drilling campaign that is under way testing up to four of the company's gold properties in Finland's central Lapland greenstone belt, as announced on Oct. 6, 2021.FireFox has completed the first...Read More
(Reuters) - Tesla shares advanced in premarket trading on Thursday after filings revealed Chief Executive Officer Elon Musk had sold about $5 billion of the stock over the past few days, following his much-hyped Twitter poll.The electric-car maker's shares climbed 2.7% to $1,097.18, recouping some of the heavy losses suffered earlier in the week.The share sale was his first since 2016 and comes af...Read More
LONDON, Nov 11 (Reuters) - Oil prices dropped to $82 a barrel on Thursday, extending sharp falls triggered by concerns over rising U.S. inflation while OPEC cut its 2021 oil demand forecast due to high energy prices.Brent crude futures lost 52 cents, or 0.63%, to $82.12 a barrel by 1343 GMT after rising to $83.37 in morning trade. U.S. West Texas Intermediate (WTI) futures were down 83 cents, or 1...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 arelower in early U.S. trading Thursday, on a normal corrective pullback afterprices hit a record high earlier this week. A price uptrend remains firmly inplace on the daily...Read More
Nov 11 (Reuters) - U.S. stock indexes were set to rebound on Thursday from a two-day selloff over signs of prolonged inflation, while Walt Disney Co tumbled as subscriber growth slowed in its streaming video service.The S&P 500 (.SPX) and the Nasdaq (.IXIC) snapped their eight-session run of all-time closing highs earlier this week as investors booked profits from recent gains, while surging p...Read More
LONDON (Reuters) - The dollar hit a 16-month high on Thursday and bond market borrowing costs were nudging up again, after the strongest U.S. inflation reading in over three decades fuelled expectations of Federal Reserve interest rate hikes next year.The dollar index, which gauges the currency against six peers including the yen and euro, continued to make steady progress in Europe after Wednesda...Read More
By Yousef SabaDUBAI, Nov 10 (Reuters) - Egyptian businessman Naguib Sawiris said on Wednesday he was looking to diversify his interests into sought-after battery metals and was confident that five new gold prospecting and mining concessions in Egypt would soon be approved.His gold fund has agreed to sell its controlling stake in Golden Star Resources Ltd, one of three gold companies under its cont...Read More
BRUSSELS (Reuters) - The euro zone economy will grow faster than previously expected this year as it recovers from the pandemic-induced recession and continue to expand strongly in 2022 with deficits and public debt falling, the European Commission forecast on Thursday.The Commission said gross domestic product in the 19 countries sharing the euro would grow 5.0% this year after a 6.4% recession i...Read More