StrengthsThe best performing precious metal for the week was spot gold, up 1.96%. Nomad Royalty Company has entered a gold stream with respect to Orion’s 40% interest in Greenstone Gold Mines, which operates the Greenstone Gold Project located in Canada. The company will make cash payments totaling $95 million for 5.9% of gold production attributed to Orion’s 40% interest in Greenstone...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Russia's Polymetal said today that its Board has approved a US$ 447 million investment in the 4.0 Moz Veduga gold project, a high-grade refractory gold deposit located in a prolific Northern Yenisey go...Read More
(Kitco News) The latest take on what "transitory" inflation really means came from the Bank of Canada (BoC) governor Tiff Macklem.The BoC governor described inflation as "transitory but not short-lived," noting that it will be around for longer than expected."I think transitory to economists, means sort of not permanent," Macklem said in an interview with CTV's Question Period with Evan Solomon. "...Read More
NEW YORK, Nov 8 (Reuters) - Wall Street stocks ended slightly higher on Monday, gaining early in the day as investors cheered passage of a U.S. infrastructure spending bill, but paring gains late as sliding Tesla shares weighed the indexes down.All three major U.S. stock indexes pared early gains but closed higher. Still, the S&P 500 and the Nasdaq extending their run of all-time closing highs...Read More
NEW YORK (Reuters) - The dollar dipped on Monday after hitting 15-month highs on Friday following strong U.S. jobs data while investors digested the report, looked ahead to inflation data and monitored commentary from Federal Reserve officials for rate policy clues.On Wednesday the Fed had stuck to its view that current high inflation is expected to be transitory and said it would start trimming i...Read More
WASHINGTON, Nov 8 (Reuters) - Concerns over higher inflation and tighter monetary policy have taken the mantle as the top concern for market participants, pushing aside the COVID-19 pandemic, the Federal Reserve said Monday in its latest report on financial stability.At the same time, the semiannual report also flagged the growing use of stablecoins and "so-called meme stocks" as issues...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) - Jaguar Mining (TSX: JAG) today announced that its revenue for Q3 2021 decreased 6% to $40.7 million, compared with $43.5 million in Q3 2020, mainly due to a reduction in the average realized gold price...Read More
WASHINGTON, Nov 8 (Reuters) - Randal Quarles, who served as the U.S. Federal Reserve's vice chair for supervision and most powerful bank regulator until last month, announced Monday he will step down as a bank governor at year's end, closing a four-year term during which critics said he was too friendly towards Wall Street.Quarles's exit also will open up another slot for President Joe Biden to fi...Read More
NIAMEY, Nov 8 (Reuters) - At least 18 people were killed onSunday in an artisanal gold mine collapse in southern Niger, thelocal mayor said on Monday.The disaster took place in the southern Maradi region, nearthe border with Nigeria. The death toll is likely to rise, saidAdamou Guero, mayor of the commune of Dan Issa."When we arrived at the site yesterday, people were stillsearching for bodie...Read More
NEW YORK, Nov 8 (Reuters) - Inflows into bitcoin products and funds have hit a record $6.4 billion so far this year, data from digital asset manager CoinShares showed, as investors bought the cryptocurrency on more widespread government acceptance and positive momentum.Bitcoin inflows totalled $95 million last week, representing the largest inflows of all digital assets, while inflows during an ei...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) - Aurion Resources (TSX VENTURE: AU) announced Monday that it has signed a formal definitive option agreement with Kinross Gold (TSX: K) granting Kinross the right to earn up to an undivided 70% interest...Read More
Nov 8 (Reuters) - Short-term inflation expectations increased in October and consumers' expectations for how much money they will earn and spend over the next year rose to the highest level in eight years, according to survey findings released by the New York Federal Reserve on Monday.Median expectations for what inflation will be one year from now rose in October for the 12th straight month to 5....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 holding on to gains at a two-month high and is within striking distance of retesting a major resistance point. Despite the latest rally, some market analysts have noted that the preci...Read More
(Kitco News) The crypto space's combined market cap has hit $3 trillion as Ethereum pushed to new all-time highs and Bitcoin approached record levels. On Monday, the overall market cap of cryptocurrencies had reached $3.03 trillion, according to data provided by CoinGecko.The biggest crypto drivers were the top four cryptocurrencies — Bitcoin, Ethereum, Binance Coin, and Solana. Ethereum sur...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) - Gatos Silver (NYSE/TSX: GATO) reported Monday that the company produced 1.7 million ounces of silver, 1.3 thousand ounces of gold, 10.8 million pounds of lead and 13.5 million pounds of zinc in Q3 2021...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) - AngloGold Ashanti, one of the largest gold producers worldwide, today reported that its Q3 2021 production of 613,000oz was down 17% year-on-year, excluding Obuasi, which resumed underground mining act...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 up in midday U.S. trading Monday, with goldscoring a two-month high and the bulls gaining momentum. It appears the metalstraders have turned their focus from the be...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) - Karora Resources (TSX: KRR) today announced record third quarter 2021 consolidated gold production of 30,365 ounces, an increase of 23% compared to third quarter 2020 (24,717 ounces).The company added...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 has found some new life as investors reactto growing inflation pressures; however, one market analyst said that goldstill needs to break through a critical level for momentum to pick up...Read More
Nov 8 (Reuters) - The U.S. Transportation Department will announce on Monday it is offering an additional $184 million in payroll assistance to 158 more aviation manufacturing businesses.In September, the department offered $482.3 million to 313 aviation manufacturing businesses. The new offers include $17.5 million to BAE Systems Controls (BAES.L) and about $13 million to both Airbus's U.S arm (A...Read More