Nov 3 (Reuters) - Online brokerage Robinhood Markets Inc (HOOD.O) said on Wednesday it would allow companies issuing shares through its IPO Access platform to set aside some stock for members of the public with ties to the issuers.Directed Share Programs (DSPs), which Robinhood refers to as its "friends and family" offering, allows employees, customers, vendors, or others who have a relationship...Read More
WASHINGTON, Nov 3 (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 f...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 are holding steady but remain in negative territory as the Federal Reserve said it will reduce its monthly bond purchases.Markets have widely expected the announcement."In light of the...Read More
Gold bullion1 regained some ground in October, climbing 1.50% for the month. Gold, however, remains underwater at -6.06% YTD through October 31, 2021. Gold mining equities3 also rebounded in October, up 8.15%, but are down 11.35% YTD as of October 31. Silver2 gained ground in October (7.81%) but is down 9.47% YTD. Month of October 2021Indicator10/31/20219/30/2021ChangeMo % ChgYTD % ChgAnalys...Read More
Mr. Bob Willis reportsSUN SUMMIT APPOINTS SHARYN ALEXANDER AS PRESIDENT AND PROVIDES UPDATE ON ITS EXPLORATION DRILL PROGRAM AT BUCKSun Summit Minerals Corp. has provided a corporate update and inform shareholders on drilling progress at its 100-per-cent-controlled Buck property in central British Columbia. Two drill rigs are currently operating on site.HighlightsStrengthens executive team by appo...Read More
(Kitco News) - NFT's are going to revolutionize the way traditional art isdisplayed and sold, pioneering NFT and digital artist Amrita Sethi emphasized. "A traditionalpainted mural is a flat image. It is a two-dimensional image on a wall. The wall isthree-dimensional, but even a wall has a lack of dimensions. The minute you scan the QR code and you playback the augmented reality, it starts to add...Read More
(Reuters) - Cathie Wood's Ark Invest on Wednesday capitalized on a sharp drop in Zillow Group Inc's stock price to scoop up shares of the online real-estate firm, as analysts expressed shock over its move to exit the business of buying and selling homes due to unpredictable prices.Zillow's announcement on Tuesday that it was withdrawing from flipping homes came three years after introducing the Zi...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) - Eros Resources (TSXV: ERC)announced Wednesday that it has received a Water Pollution Control Permit(WPCP) from the Nevada Bureau of Mining Regulation and Reclamation for the BellMountain gold and silve...Read More
* German 30-year bond yields fall to 2-month low* Money markets par back ECB rate-hike bets* Market inflation expectations retreat further (Updates rates)LONDON, Nov 3 (Reuters) - Battered euro zone bond markets fought back on Wednesday, with sovereign borrowing costs down sharply for a second straight session as investors scaled back their most aggressive bets for interest rates hikes in the comi...Read More
GOLD / SILVERThebroad market environment today favors the bear camp in gold and silver, withthe negative economic comments from China pressuring many commodities.Apparently, China's Premier has warned of new downward pressures on the Chineseeconomy which some economists suggest could be the result of China fightinginflation by restricting output and potentially reducing commodity demand. Notsurpri...Read More
WASHINGTON, Nov 3 (Reuters) - The U.S. Securities and Exchange Commission (SEC) published on Wednesday new staff bulletins outlining how the agency will allow listed companies to exclude a shareholder proposal from corporate ballots.The new publications by the staff of the securities watchdog replaces Trump-era guidance that demanded companies take more steps to disclose how they craft their share...Read More
(Kitco News) Ethereum is running well ahead of the crypto pack, with the cryptocurrency reaching new all-time highs on Wednesday. Analysts are now looking into its connection to rising inflation expectations.The ether token hit a record high of $4,642.48 on Wednesday. The cryptocurrency is following in the footsteps of bitcoin, which hit its new all-time high of $67,016.5 at the end of October."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) - 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
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 a report by theChilean state copper commission Cochilco released today, the domestic copperproduction in September 2021 was 447,400 tonnes, a decline of 7% compared to 479,800tonnes mined...Read More
Anglo American appointed Duncan Wanblad as chief executive.Wanbald will succeed Mark Cutifani who will retire as chief executive and step down from the board at the AGM after nine years in the role.The company said Wanbald has deep experience operationally at Anglo American. "Duncan Wanblad is the standout and natural successor to Mark Cutifani, bringing his 30 years of international mining experi...Read More
Kenorland Minerals (TSXV: KLD) said today Sumitomo Metal Mining Canada made a $5.2 million investment in Kenorland. Kenorland was up 10% to 78 cents as of 11:43 a.m. ET. Sumitomo purchased 5,211,945 common shares at a price of $1.00 per share for aggregate gross proceeds of $5,211,945. Sumitomo now has 10.1% of the company's outstanding common shares.The company said 80% of funds will be used for...Read More
NEW YORK, Nov 3 (Reuters) - Oil prices fell on Wednesday, after U.S. crude stocks rose more than expected in the most recent week, even as gasoline inventories hit a four-year low in the world's largest oil consumer.Brent crude futures were down $2.53, or 3%, at $82.16 a barrel at 11:19 a.m. EDT (1519 GMT). U.S. West Texas Intermediate (WTI) crude futures tumbled $2.97, or 3.5%, to $80.95 a barrel...Read More
GLASGOW, Nov 3 (Reuters) - The United States on Wednesday announced its support for a new capital market mechanism that will issue investment-grade bonds and raise significant new finance for scaling clean energy and sustainable infrastructure in emerging economies.Underscoring the urgency of acting to stop global warming, Treasury Secretary Janet Yellen told the COP26 climate conference in the Sc...Read More
Nov 3 (Reuters) - A company backed by Blackstone Group (BX.N) and led by former Walt Disney Co (DIS.N) executives Kevin Mayer and Tom Staggs is nearing a deal to buy Moonbug Entertainment for roughly $3 billion, three people familiar with the matter said.The deal for the media house behind children's entertainment show "CoComelon" could be announced as soon as this week, the sources said on We...Read More
Nov 3 (Reuters) - Deere & Co (DE.N) workers were set to continue their three-week-old strike on Wednesday after they voted to reject a second contract reached between the U.S. tractor maker and the United Auto Workers (UAW) union that bumped up wages and bonuses.Shares of Deere were down 2.6% in early trade.The strike will continue after 55% of the workers voted down the agreement, UAW had said...Read More