Gold production in Q3 was up sharply at McEwen Mining (TSE:MUX). Results were announced this afternoon. Gold production was up 40% to 32,100 oz compared to the same period a year ago. McEwen traded up 4.4% today to $1.41 a share. The stock is up 8.57% year-to-date while the GDXJ has dropped 25% over the same period. The company said it is on track to meet its 2021 production guidance of 141,000...Read More
Sandstorm Gold Royalties Announces 2021 Third Quarter Results and Initiation of Dividend ProgramCanada NewsWireVANCOUVER, BC, Nov. 3, 2021Read More
Nov 3 (Reuters) - Booking Holdings Inc (BKNG.O) posted a 77% rise in third-quarter revenue on Wednesday, as more people used the online travel agent to book trips after the United States announced it would open borders to vaccinated foreign nationals.Travel searches to the world's largest economy on Booking-owned travel website Kayak surged after the White House said last month it would lift tra...Read More
(Kitco News) - Investors are still weighing the risk of inflation, whichhas tapped the breaks on gold's rise, said Agnico Eagle (TSX:AEM) CEO SeanBoyd. Boyd spoke to Kitco on Tuesday. The company released its Q3this week. In the spring gold traded above $1,900 oz but this fall isstruggling to stay above $1,800 oz. "Gold is stuck right now because investors are still tryingto determine what inflat...Read More
(Recasts after Fed statement, adds quotes, updates prices)* Fed says it will begin taper later this month* Gold hits lowest level since Oct. 13* Upbeat payrolls data adds to pressure on goldNov 3 (Reuters) - Gold prices held near their weakest level since mid-October on Wednesday after the U.S. Federal Reserve announced tapering of its pandemic-era stimulus measures in a widely expected move.The F...Read More
WASHINGTON, Nov 3 (Reuters) - The Federal Reserve on Wednesday is expected to detail plans to end its pandemic-era bond purchases by mid-2022 as policymakers shift their focus towards what, if anything, to do about a surge in inflation that is lasting longer than anticipated.U.S. central bankers, in the minutes of their Sept. 21-22 meeting, signaled that a "taper" of the $120 billion in monthly as...Read More
WASHINGTON (Reuters) - Shares were mixed as Treasuries rose on Wednesday after the U.S. Federal Reserve, as expected, approved plans to begin scaling back its bond-buying stimulus program this month and end it by June.The pan-European STOXX 600 index rose 0.35% and MSCI's gauge of stocks across the globe gained 0.14% as investors digested the announcement, taken amid a surge in inflation.U.S. inde...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) - Teck Resources (TSX: TECK.Aand TECK.B, NYSE: TECK) today announced it has committed to the Copper Mark, avoluntary assurance framework to promote responsible production practices anddemonstrate the ind...Read More
WASHINGTON, Nov 3 (Reuters) - The U.S. Securities and Exchange Commission on Wednesday published new staff guidance that may make it harder for corporations to keep shareholder proposals on matters like workforce diversity or climate from being voted on at annual meetings.The new bulletins replace Trump-era guidance that gave companies more room to toss proposals on hot-button social issues, chang...Read More
NEW YORK (Reuters) - The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove 'transitory" and likely not require a fast rise in interest rates.However, the U.S. central bank nodded to global supply difficulties as adding to inflation risks, saying that those factors 'a...Read More
(Kitco News) Gold pared some of its losses, rising from daily lows as Federal Reserve Chair Jerome Powell talked about inflation uncertainty but stressed that it is "premature to raise rates today.""Inflation has come in higher than expected. Bottlenecks have been more persistent and are on track to persist well into next year. I don't think we are behind the curve. The policy is well-positioned t...Read More
(Reuters) - Federal Reserve Chair Jerome Powell on Wednesday said it is possible the U.S. job market may have improved enough by the middle of next year to be considered at "maximum employment," a key hurdle to clear for the central bank to consider increasing interest rates.Powell, speaking at a press conference after the Fed's latest policy meeting, also said officials did not see "troubling inc...Read More
Nov 3 (Reuters) - London's FTSE 100 slipped on Wednesday as losses in heavyweight oil stocks and the stronger pound weighed, while traders held back on uncertainty around a potential UK rate hike.The commodity-heavy FTSE 100 index (.FTSE) ended 0.4% lower, recording its worst session in nearly two-weeks, dragged by weakness in oil majors Royal Dutch Shell (RDSa.L) and BP (BP.L).UK's energy su...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, two companiesannounced that they have executed definitive agreements with a subsidiary ofBarrick Gold, whereby they have granted the right to Barrick to earn-in ontheir projects in the prolific...Read More
Nov 3 (Reuters) - Sterling edged up on Wednesday but remained within striking distance of an almost three-week low versus the dollar and the euro ahead of crucial central bank policy meetings in Britain and the United States.Investors expect the Federal Reserve to detail plans to end its bond purchases on Wednesday as policymakers shift their focus towards what to do about a surge in inflation. 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) - The 'staggering' numbers needed for metal production to meetcoming EV demandTo meet anticipated battery material demand, Sean Thijsse atPallinghurst Group has seen multiples as high as 20-times current...Read More
(Kitco News) - With the advent of blockchain technology, it is now possibleto "tokenize" assets and create digital trading vehicles that trackthe underlying asset.Atomyze is one such company doing exactly that, and thefirst asset class they are tokenizing will be commodities, and in particular,metals.Jeanine Hightower-Sellitto, CEO of Atoymze, discusses withDavid Lin, anchor for Kitco News, how t...Read More
Mr. Michael Bennett reportsALTAMIRA GOLD INTERSECTS DISSEMINATED SULPHIDE MINERALIZATION IN INITIAL DIAMOND DRILL HOLES AT THE APIACAS PROJECTAltamira Gold Corp. has provided an update regarding drilling at the central part of the Mutum target area in the Apiacas project area, which historically produced an estimated one million ounces of placer gold. The project is located within the Alta Florest...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, Torex Gold Resources(TSX: TXG) reported that the company produced 111,229 ounces of gold in Q32021, a 16% decrease compared to 131,790 ounces produced a year ago.The company said it sold118,989...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 pricesare sharply down in afternoon U.S. dealings Wednesday. This afternoon’s FOMCstatement from the Federal Reserve saw the U.S. central bank announce it willbegin tapering its bond-buying...Read More