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) - Investors are once again turning to gold, pushing prices backabove $1,800 an ounce, and one firm expects gold prices to continue to move higheras it is unlikely the Federal Reserve will be able to get...Read More
(Kitco News) - Bitcoin is about to see another major breakout aftersurpassing its previous all-time highs, but will the price move to the upsideor the downside?David Lin, anchor for Kitco News, hosts a discussion withFlorian Grummes, managing director of Midas Touch Consulting, and GarethSoloway, chief market strategist of InTheMoneyStocks.com at the FutureBlockchain Summit in Dubai, to talk Bitc...Read More
Oct 25 (Reuters) - U.S. companies increased their borrowings for capital investments in September by 6% compared with a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday.The companies signed up for $9.2 billion in new loans, leases and lines of credit last month, up from $8.7 billion a year earlier. Borrowings rose 8% from August."Supply chain disruptions and inflat...Read More
(Reuters) -Shares in Rogers Communications Inc tumbled more than 6% on Monday as a family feud over the control of the board deepened after rival factions claimed they were in charge of one of Canada's largest telecom companies.Late on Sunday, former Chairman Edward Rogers issued a statement saying he intends to initiate legal proceedings in the British Columbia Supreme Court to confirm the shareh...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) - DRDGOLD (JSE, NYSE: DRD), aSouth African gold producer that recovers gold from the retreatment of surfacetailings, announced today that in Q3 2021, its gold production increased by 7%from the previous...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) - Australian gold miningcompany St Barbara announced today that in September quarter 2021, thecompany's gold production was 67,000 ounces, 8% lower than a year ago.The company said that itsAtlantic gold...Read More
NEW YORK, Oct 25 (Reuters) - The Dow Industrials and S&P 500 hit fresh record highs on Monday, as earnings season kicked in to high gear in one of the heaviest reporting weeks of the quarter with bellwethers in multiple sectors poised to announce results.While the Dow and S&P hit new highs, the Nasdaq outperformed on the day, buoyed by gains in Tesla and PayPal.Tesla Inc (TSLA.O) jumped...Read More
WASHINGTON, Oct 25 (Reuters) - The U.S. State Department said on Monday it plans to establish a bureau of cyberspace and digital policy that will be led by a Senate-confirmed ambassador at large, spokesperson Ned Price said.Price told a regular press briefing the new bureau will focus on international cyberspace security, international digital policy and digital freedom.The department would also e...Read More
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen has named Janis Bowdler, a Latina activist and former head of the philanthropic arm of JP Morgan Chase, as the first-ever counselor for racial equity at the Treasury Department, a Treasury official said on Monday.The move comes after a racial equity review at Treasury during the first 200 days of the Biden administration showed the need 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) - Brazil's Vale today announcedthe resumption of conveyor belt operations at Salobo, that was halted for 18days due to a fire that partially affected the conveyor. The causes of the fire arebeing investi...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, the Saudi ArabianMining Company (Ma'aden) announced that in Q3 2021, its net profit was 1,271,851,410Saudi Arabian Riyals (~$340 million), an increase of 19,549% compared to Q32020.The company e...Read More
LONDON, Oct 25 (Reuters) - Facebook (FB.O) will fuel more violent unrest around the world unless it stops its algorithms pushing extreme and divisive content, whistleblower Frances Haugen told the British parliament on Monday.The former employee, who accused the social media giant of putting profit before people at a Senate subcommittee earlier this month, said she was encouraged by British plan...Read More
NEW YORK (Reuters) - Cryptocurrency products and funds had record inflows last week to the tune of $1.5 billion, their 10th straight week of investments, as optimism soared with the trading of bitcoin exchange traded funds, a report from digital asset manager CoinShares showed on Monday.Inflows so far this year hit $8 billion, far exceeding the record set for the whole of 2020 of $6.7 billion, the...Read More
DUBAI, Oct 25 (Reuters) - HSBC group chief executive Noel Quinn said on Monday the bank has helped clients issue $170 billion worth of green bonds this year.Proceeds from green bonds are typically used on projects to cut greenhouse gas emissions, adapt to climate change, increase energy efficiency or expand the use of renewable energy."This year, alone, we have already helped our customers issue $...Read More
(Kitco News) The gold market seems to be coming to life with the latest move above $1,800 an ounce as markets worry about inflation running out of control.The yellow metal jumped $15 on Monday, sustaining gains above $1,800. December Comex gold futures last traded at $1,808.60, up 0.72% on the day.Out-of-control inflation is the narrative dominating the market at the moment, with investors looking...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) - South African platinum groupmetals producer Royal Bafokeng Platinum (JSE: RBP) announced today that notwithstandingthe ongoing impact of the COVID-19 pandemic and the protracted third wave,which reache...Read More
PLAINFIELD, N.J., Oct 25 (Reuters) - U.S. President Joe Biden on Monday held out hope for an agreement on his major spending plans before attending a climate summit in Scotland, while the White House said Democratic negotiators were closing in on a deal.Biden visited New Jersey to sell his "Build Back Better" agenda after talks on Sunday with moderate Democratic Senator Joe Manchin, whose vote is...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) - Russian mining company Petropavlovsk(LSE: POG), one of the largest gold producers in Russia, announced today thatin Q3 2021, the company's total gold production amounted to 111.6 koz, a 2%decrease comp...Read More
(Updates prices)* Investors await BoJ, ECB policy meetings due this week* Palladium, platinum rise more than 1% eachOct 25 (Reuters) - Gold prices rose about 1% on Monday, as a retreat in U.S. bond yields and persisting worries about inflation lifted the safe-haven asset ahead of major central bank meetings this week.Spot gold was up 0.9% at $1,807.66 per ounce by 11:39 a.m. ET (1539 GMT). U.S. go...Read More
(Reuters) - Amazon.com Inc said on Monday it had doubled its container processing capacity and secured more shipping storage from ocean freight carriers to try to overcome supply chain bottlenecks in time for the holiday shopping season.The stop-and-start nature of the COVID-19 pandemic has snarled global supply chains that are optimized for just-in-time movement of goods, while labor and equipmen...Read More