WASHINGTON, Nov 1 (Reuters) - Price and wage increases running at multi-decade highs may challenge Federal Reserve officials this week as they try to maintain a balance between ensuring inflation remains contained and giving the economy as much time as possible to restore the jobs lost since the pandemic.Investors on Monday continued to increase their expectations that high and persistent inflatio...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) - Lithium Americas (TSX: LAC)(NYSE: LAC) announced Monday that it has submitted an unconditional offer toMillennial Lithium to acquire all of the outstanding shares of Millennial. According to the compan...Read More
Nov 1 (Reuters) - Centrist Democratic Senator Kyrsten Sinema and U.S. House of Representatives Speaker Nancy Pelosi spoke over the weekend on the issue of prescription drug prices, CNN reported on Monday.Progressive Senator Bernie Sanders said on Sunday he was working on getting a provision to lower prescription drug prices into the $1.75 trillion social spending bill pending in the U.S. Congress...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 SHIBA INU coin made headlinesin recent weeks, having climbed 780% in the last month alone. The coin, created by an individualor group known as Ryoshi, was intended to be a satire on the popular Dog...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) - Kazakhstan's Kazatomprom(LSE: KAP), the world's largest uranium producer, announced today that thecompany produced 2,928 tonnes of uranium (as U3O8) in Q3 2021 on anattributable basis, which is 16% mor...Read More
WASHINGTON, Nov 1 (Reuters) - U.S. manufacturing activity slowed in October as a measure of new orders dropped to a 16-month low and factories continued to experience delays with deliveries of raw materials.The Institute for Supply Management (ISM) said on Monday its index of national factory activity slipped to a reading of 60.8 last month from 61.1 in September.A reading above 50 indicates expan...Read More
(Kitco News) Tech billionaire Peter Thiel views bitcoin at $60,000 as signaling "a crisis moment," stating that he regrets not buying more earlier."Bitcoin [at] $60,000 – I'm not sure that one should aggressively buy [at that price]. But surely what it is telling us is that we are having a crisis moment," Thiel said at the second National Conservatism Conference.High crypto prices point to a...Read More
Nov 1 (Reuters) - Chinese developer Modern Land (China) said on Monday a default on a bond repayment last week has pulled forward repayment dates for a further $321 million worth of notes, and the company withdrew an interim dividend to hold on to cash.The development highlights the impact of China Evergrande here Group, which narrowly averted a costly default, on the rest of the high-yield sect...Read More
LONDON (Reuters) - The Bank of England heads into its most unpredictable interest rate decision in years this week, leaving investors and analysts on edge about the chance of its first hike since the pandemic struck the world economy.Inflation in Britain looks set to rise to 5% - more than double the BoE's 2% target - despite a slowdown in the economy's recovery from last year's slump, and BoE Gov...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) - Novo Resources (TSX: NVO) announcedMonday that a routine crusher maintenance shut at its Nullagine gold project'sGolden Eagle processing facility has discovered greater wear than anticipatedon its pitm...Read More
Nov 1 (Reuters) - Bank of America Corp is planning to file an application to set up a securities firm in China as part of its strategy to expand into the country's burgeoning financial services market, Bloomberg News reported here on Monday, citing people familiar with the matter.Bank of America is expected to seek regulatory approval early next year, the report added, and is also planning to 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) - Gold pricesare holding decent gains in midday U.S. dealings Monday. Support comes from a weakerU.S. dollar index, firmer crude oil prices and falling U.S. government bondyields on this first trading d...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, IAMGOLD (TSX: IMG)(NYSE: IAG) reported that the two individuals who were unaccounted forfollowing the security incident in Burkina Faso reported on October 29, 2021,have been safely located."The...Read More
WASHINGTON, Nov 1 (Reuters) - U.S. construction spending unexpectedly fell in September amid declines in outlays on both private and public projects.The Commerce Department said on Monday that construction spending dropped 0.5% after edging up 0.1% in August. Economists polled by Reuters had forecast construction spending gaining 0.4%.Construction spending increased 7.8% on a year-on-year basis in...Read More
(Recasts, adds details, updates prices)Nov 1 (Reuters) - Euro zone bond yields extended their surge on Monday as money markets largely held onto their rate hike bets from the European Central Bank next year.At the ECB's policy meeting last week, president Christine Lagarde disappointed expectations of a firm pushback against the recent pricing of two ECB rate hikes next year that are at odds with...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) - Golden Star Resources (TSX:GSC) (NYSE: GSS) announced today that Chifeng Jilong Gold Mining has agreed toacquire all of the issued and outstanding common shares of Golden Star by wayof a statutory plan...Read More
(Adds comment, updates prices)* Higher inflation data tests Fed's transitory inflation view* Gold stuck in range-bound trade, Fed in focus - analyst* Platinum, palladium jump 3%Nov 1 (Reuters) - Gold prices ticked up on Monday, as the dollar eased, ahead of a U.S. Federal Reserve meeting where the focus is on the central bank's plan for tapering its pandemic stimulus measures.Spot gold was up 0.3%...Read More
DUBLIN, Nov 1 (Reuters) - U.S. Treasury Secretary Janet Yellen on Monday said Ireland will remain one of the best places in the world for multinational companies to invest in, even after Dublin gave up its prized 12.5% corporate tax rate as part of a global overhaul.Yellen led the charge towards achieving a global minimum corporate tax rate of 15% - endorsed by the leaders of the world's 20 bigges...Read More
Gold, Silver, andPlatinum continue to trade in a malaise. All three remain stuck in a range andshow all the makings of a large move. For now, we assume that move to be up.However, we can expect eventually, either the bears or the bulls will takecharge.Consolidation is a warbetween the bulls and the bears. Bulls buy them until the bears fight back andsell. This rotation can last for an extended per...Read More
Nov 1 (Reuters) - Canada's main stock index rose on Monday, aided by an over 1% jump in energy stocks on the back of higher crude prices, while upbeat results by Cargojet Inc further lifted prospects of strong corporate earnings.At 9:32 a.m. ET (13:32 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 109.11 points, or 0.52%, at 21,146.18.Reporting by Amal S in Bengaluru; Editing by...Read More