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 Federal Reserve is on the cusp of shifting its monetarypolicies, but it won't be enough to stop the growing inflation pressures, andit is only a matter of time before investors return to gold to pr...Read More
NEW YORK, Nov 2 (Reuters) - Investors are watching everything from bond volatility to inflation measures as they try to gauge how an expected unwind of the U.S. Federal Reserve's easy money policies will reverberate throughout markets.Most market participants believe the Fed will announce the timing of the tapering of its $120 billion per month U.S. government-backed bond buying program at the con...Read More
(Updates Nov. 1 story with additional CEO comment in paragraphs 5-6)Nov 1 (Reuters) - One of the largest U.S. diesel retailers is assembling a fuels trading, processing and distribution powerhouse that could turn a truck stop operator part-owned by billionaire Warren Buffett into the Walmart of petroleum.Known best for its Pilot Flying J service stations, Pilot Company has hired veteran energy tra...Read More
* Graphic: World FX rates in 2021 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Updates headline, quotes and news; adds comments)LONDON, Nov 2 (Reuters) - The pound edged lower on Tuesday, hovering around a three-week low, pressured by uncertainty about whether the Bank of England will raise interest rates this week.Sterling rose to a 20-month high ver...Read More
NEW YORK/LONDON, Nov 2 (Reuters) - The dollar rose slightly as the U.S. Federal Reserve prepared on Tuesday to kick off its two-day policy meeting where it was expected to announce the start of tapering of its massive asset purchases put in place at the start of the COVID-19 pandemic.Investors in recent weeks have priced in a wave of tightening from central banks as they bet policymakers are suffi...Read More
WASHINGTON, Nov 2 (Reuters) - The U.S. residential rental vacancy rate dropped further in the third quarter as the economy continued to normalize after severe disruptions caused by the COVID-19 pandemic, potentially indicating that high inflation could last for a while.The Commerce Department said on Tuesday that the rental vacancy rate fell to 5.8% last quarter, the lowest since the second quarte...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 aredown in midday U.S. trading Tuesday, with silver sharply lower. A higher U.S.dollar index and lower crude oil prices today are negative outside markets forthe metals. Some po...Read More
(Kitco News) After building support at the $1,700 an ounce level this year, gold could be the metal to follow in 2022, according to Bloomberg Intelligence."Next year will begin almost 24 months removed from the start of the pandemic, and we see the 2021 bounce in industrial metals vs. the decline in precious at greater risk of reversing," said Bloomberg Intelligence senior commodity analyst Mike M...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) - Agnico Eagle Mines (NYSE:AEM) (TSX: AEM) today announced record exploration spending in 2021, targetinggrowth of the company's mineral reserves and mineral resources at year-end 2021from a record level...Read More
NEW YORK, Nov 2 (Reuters) - Global equity shares scaled a new peak on Tuesday, lifted by rising stocks on Wall Street, and the dollar strengthened as strong earnings drove sentiment while investors await details on the Federal Reserve's decision to taper its massive stimulus.The S&P 500 and Nasdaq stock indexes hit fresh record highs helped by a slew of robust earnings updates, while the STOXX 600...Read More
* Climate Finance Partnership passes $500 mln target* France, Germany, Japan all invest in novel fund* EM investment a key issue at COP26 climate talks (Adds comments by BlackRock CEO Larry Fink in Glasgow)GLASGOW/BOSTON, Nov 2 (Reuters) - BlackRock Inc told Reuters it has raised a target-beating $673 million for an infrastructure fund with backing from the French, German and Japanese governments...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 Mountain Mining (TSXV:GMTN)announced Tuesday that the Ministry of Energy, Mines & Low CarbonInnovation Communications Office hasawarded the company its M-199 Mining Permit for the Elk Gold proje...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 Mining todayreported that an employee was fatally injured on Sunday afternoon, following ashaft-related incident, at its Doornkop mine, near Soweto in the Gautengprovince of South Africa."...Read More
WASHINGTON, Nov 2 (Reuters) - The Federal Aviation Administration said Tuesday it had issued a special information bulletin alerting manufacturers, operators and pilots that action may be needed to address potential interference with sensitive aircraft electronics caused by new 5G telecommunications technology.The FAA has been in discussion with the Federal Communications Commissions about its air...Read More
WASHINGTON, Nov 2 (Reuters) - U.S. Treasury Secretary Janet Yellen will urge financial institutions to adopt a "greater sense of urgency" about investing in net-zero economy in meetings with the head of Bank of America and other finance CEOs on Tuesday, Treasury officials said.John Morton, a former private equity adviser and Treasury's first climate counselor, told reporters that Yellen would expl...Read More
The oversold bounce in the gold stocks has runinto initial resistance while Gold is trading around resistance around $1800.The question is if this rebound can extend ifit will pause or, will the sector start giving back some of the gains?First, let's look at recent price action andthe current setup.We plot Gold, GDX, HUI, and GDXJ along withtheir 200-day moving averages below.Since the start of th...Read More
By Marco AquinoLIMA, Nov 2 (Reuters) - A wave of protests against Peru'skey mining sector is affecting the "country's perception interms of future investments," central bank president JulioVelarde said on Tuesday.Peru, the world's No. 2 copper producer, has seendemonstrators in recent weeks block roads in protests againstmines owned by Glencore , BHP Billiton and MMGLtd.Peru's largest co...Read More
(Reuters) - The S&P 500 and the Nasdaq indexes hit record highs on Tuesday, helped by a slew of strong earnings reports, although gains were limited as investors remained cautious ahead of the Federal Reserve's widely expected move to start tapering its monthly bond purchases.Shares of Under Armour Inc jumped 17.3% after the athletic apparel maker raised its annual revenue and profit forecasts.Sim...Read More
WASHINGTON, Nov 2 (Reuters) - Tesla Inc is recalling nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the emergency brakes, the National Highway Traffic Safety Administration (NHTSA) said Tuesday.The California automaker said the recall of 11,704 Model S, X, 3 and Y vehicles was prompted after a soft...Read More
Nov 2 (Reuters) - A cryptocurrency named after the wildly popular Netflix drama "Squid Game" crashed to almost zero value on Tuesday after a dizzying rally pushed it to almost $2,800 last week.The so-called squid token's market value jumped to $2.4 billion at the peak of Monday's trading with a trading volume of $14 million over the last 24 hours, according to CoinMarketCap. The reason for squid's...Read More