Yesterday's article addressed whether or not gold was positioned for a large upside breakout. We cited that the upcoming CPI (Consumer Price Index) numbers which were released today, would be a huge component to answer that question. Our technical studies indicated that a break in gold futures above $1835 would be a trigger for a strong breakout or price search. That is exactly what we saw today....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) - Kinross Gold (TSX: K, NYSE: KGC) said today that the company produced 483,060 Au eq. oz. in Q3 2021, down 20% compared with 603,312 Au eq. oz. in Q3 2020, primarily due to lower production at Tasiast a...Read More
Steve Hanke, professor of applied economics at Johns Hopkins University, discusses with David Lin, anchor for Kitco News, the implications for investors of higher inflation. "[Inflation] could go higher and the main thing is persistence. This talk we have, it's all political nonsense...they're talking about inflation being temporary, and it's a supply chain problem. This is just utter rubbish. The...Read More
By Mariya GordeyevaALMATY, Nov 9 (Reuters) - Kazakhstan is struggling to meet the energy needs of its booming cryptocurrency mining industry, which is flourishing thanks to cheap power and an exodus of crypto miners from neighbouring China.The Central Asian nation of 19 million has become the world's second-biggest bitcoin mining location after the United States in recent months, according to the...Read More
ReutersWASHINGTON, Nov 10 (Reuters) - The U.S. securities regulator on Wednesday halted registration for two digital tokens offered by Wyoming-based American Cryptofed DAO LLC, accusing the company of providing misleading information to investors in regulatory filings.The U.S. Securities and Exchange Commission (SEC) said in a statement that American Cryptofed "filed a materially deficient and mis...Read More
(Kitco News) Next year will be "a tough one" with inflation and supply chain bottlenecks getting worse, according to Almonty Industries CEO Lewis Black.Things will only get worse before they get better as the inflation rate in the U.S. accelerated to a 30-year high of 6.2% in October. "Inflation has been created because the solution to locking everyone down was to throw money at them. Ultimately,...Read More
NEW YORK (Reuters) - Wall Street ended the session in negative territory on Wednesday as investor risk appetitive was curbed by surging consumer prices, which stoked worries of a protracted wave of hot inflation.All three major U.S. stock indexes lost ground, extending their losses throughout the trading day and adding to Tuesday's sell-off which snapped the S&P 500's and Nasdaq's eight-sessio...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 rocketed to a five-month high after U.S. inflationdata rose to its highest level in 31 years; however, according to the world'slargest asset management firm, this still might not be enough t...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) - According to GlobalData, gold production in China, the world's largest gold producer and consumer, is expected to grow by 4.7% in 2021, against a 3.9% fall reported in 2020.The country's production dec...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) - Osisko Gold Royalties (OR: TSX & NYSE) reported today that the company earned 20,032 gold equivalent ounces (GEOs) in Q3 2021, up 20% compared to Q3 2020 (16,739 GEOs).Importantly, the company posted r...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) - Lundin Gold (TSX: LUG) today reported third quarter 2021 gold production of 107,663 oz from its Fruta del Norte gold mine in southeast Ecuador resulting in gold production of 320,599 oz for the nine mo...Read More
Mr.Michael Spreadborough reportsMECHANICAL SORTER CONSTRUCTION COMPLETE AHEAD OF PHASE 2 TRIALS AT NULLAGINE GOLD PROJECTNovo Resources Corp.intends to commence phase 2 mechanical sorting trials of Pilbara deposit bulk samples from early December, 2021. The company's Steinert KSS 100F LIXT fine mechanical sorting unit will be installed adjacent to the company's Golden Eagle processing facility in...Read More
Mr. Jeff Chisholm reports PAN ORIENT ENERGY CORP. -2021 THIRD QUARTER FINANCIAL & OPERATING RESULTSPan Orient Energy Corp. has released 2021 third quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and bopd refers to barrels of oil per day.The company is today filing its unaudited consolidated financial statements...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 seeing new bullish momentum after U.S.inflation data rose to its highest level in more than three decades, and someanalysts are looking for a move back to $1,900 an ounce in the near...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) - Pan American Silver (NASDAQ: PAAS) (TSX: PAAS) today reported that in Q3 2021, the company's consolidated silver production was 4.8 million ounces, an increase of 17% compared to Q3 2020.The company al...Read More
Nov 10 (Reuters) - Traders sent real yields on U.S. Treasuries to record lows on Wednesday after new consumer price data reinforced inflation concerns and flattened a closely watched part of the yield curve.The yield on 10-year Treasury Inflation Protected Securities dipped as low as -1.243% and the yield on 30-year TIPS went as low as -0.608%, both records, in morning trading.The moves came after...Read More
By Reuters StaffNov 10 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Wednesday said she expects high inflation to moderate once COVID-19 recedes, and repeated that it would be “quite premature” to raise rates now or even to speed up the Fed’s bond-buying taper.“Uncertainty requires us to wait and watch with vigilance,” Daly said in an interview...Read More
LONDON, Nov 10 (Reuters) - From oil to currencies to interest rate swaps, one of the world's top investment banks is betting on inflation to be the biggest generator of market returns in 2022.In its widely anticipated top trading ideas for next year, Goldman Sachs recommends buying currencies of countries where policymakers will take a more hawkish approach to inflation as economies struggle to ta...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) - Today, Newmont (NYSE: NEM, TSX: NGT), the world's largest gold mining company, announced a strategic alliance with Caterpillar, producer of the world's most comprehensive suite of mining equipment and...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 solidly higher at middayWednesday, with gold notching a five-month high and silver a three-month peak.Hot inflation numbers from the U.S. and China fueled buying interest in t...Read More