NEW YORK, Oct 15 (Reuters) - Disruptions to transportation of coffee around the world, caused by container shortages and port congestion, will likely keep coffee prices high for a longer time since they make it more difficult for the market to rebalance supplies geographically.Coffee analysts and traders said on Friday during the annual conference organized by the Swiss Coffee Trade Association (S...Read More
(Kitco News) - Agnico Eagle CEO Sean Boyd discussed the benefits of hiscompany's proposed merger with Kirkland Lake Gold.Boyd spoke to Kitco on Tuesday. Agnico Eagle (TSE:AEM) andKirkland Lake Gold (TSE:KL) announced a merger earlier this month."[This merger] is kind of different than what you normallysee in the gold space. You usually see premium acquisitions done to fix issuesof the acquirer. H...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) - China's Ganfeng Lithium, theworld's largest lithium metal producer, said today that in Q3 2021, the companyexpects net profit of between RMB915,200,000 (~$142 million) andRMB1,092,000,000 (~$170 millio...Read More
(Kitco News) Gold ran into "massive resistance" at the $1,800 an ounce level, triggering a $30 retreat Friday. And analysts say that gold won't commit to a rally until there is enough interest to take gold past its key technical barriers.Weighing on gold was a better-than-expected economic outlook following strong retail sales, with December Comex gold futures tumbling to $1,769 an ounce, down 1.6...Read More
* CBOT corn, soy firm on renewed hopes of increased exports* CBOT wheat turns higher on Paris rally* U.S. soybean crush hits three-month low in September (Recasts, updates with U.S. trading, adds analyst quote, changes byline and dateline, previous PARIS/SINGAPORE)CHICAGO, Oct 15 (Reuters) - Chicago corn and soybean futures prices rose on Friday, supported by technical buying and renewed hopes of...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) - China's Zijin Mining Grouptoday announced that in the nine months period ended 30 September 2021 (9M2021), the company's net profit was RMB14.5 billion (~$2.3 billion), 151%higher than in the same peri...Read More
Oct 15 (Reuters) - U.S. stocks climbed on Friday and the main indexes were set for weekly gains after Goldman Sachs capped a strong earnings season for big banks, while a surprise rise in retail sales raised optimism about economic recovery.Goldman Sachs (GS.N) gained 2.7% as a record wave of dealmaking activity drove a surge in the bank's quarterly profit. read moreOther big lenders, including...Read More
(Reuters) - Cryptocurrency Tether and crypto exchange Bitfinex will pay $42.5 million to settle civil charges from the U.S. Commodity Futures Trading Commission (CFTC) over allegedly making misleading statements and making illegal transactions.Firms doing business as Tether agreed to pay $41 million to resolve CFTC charges they made misleading claims about Tether's cryptocurrency stablecoin, the C...Read More
OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau said on Friday he would reshuffle his cabinet on Oct. 26 and bring back Parliament in late November, prompting opposition complaints of time-wasting.Trudeau was re-elected to a third term in office on Sept. 20 but for the second time in a row only won a minority of seats in the House of Commons, which means he needs to cooperate with opposit...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) -Mountain Province Diamonds(TSX: MPVD) yesterday announced that in Q3 2021, 1,562,105 carats wererecovered from the Gahcho Ku?(C) diamond mine, located in Canada's NorthwestTerritories, which is 13% lowe...Read More
(Reuters) -The U.S. health regulator is delaying its decision on authorizing Moderna Inc's COVID-19 vaccine for adolescents to check if the shot could increase the risk of heart inflammation, the Wall Street Journal reported on.wsj.com/3p3P5Zp on Friday, citing people familiar with the matter.Moderna's shares fell nearly 2% to $326.25 in midday trading after the report.The U.S. Food and Drug Adm...Read More
WASHINGTON, Oct 15 (Reuters) - The World Bank-International Monetary Fund Development Committee on Friday urged the bank to take additional steps to "assure the integrity and credibility of data" in the wake of a data-rigging scandal involving its now-canceled "Doing Business" report that embroiled IMF Managing Director Kristalina Georgieva.The panel, which acts as the steering committee for the W...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) - Yesterday, Galiano Gold (TSX:GAU) (NYSE American: GAU) reported that in Q3 2021, gold production at theAsanko gold mine in Ghana was 49,543 ounces, virtually unchanged from 48,974ounces produced in Q3...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) - After failing at $1,800an ounce this week, Wall Street analysts are undecided on where gold is headednext, while Main Street remains bullish, according to Kitco's weekly gold price survey. After rallyi...Read More
(Reuters) -Oil prices jumped to a three-year high above $85 a barrel on Friday, on forecasts of a supply deficit over the next few months, spurred by rising demand due to the easing of travel restrictions.Brent crude futures were up 77 cents, or 0.9%, at $84.77 a barrel at 11:48 a.m. EST (1548 GMT). Front-month prices, which touched their highest since October 2018 at $85.10, were headed for a wee...Read More
Oct 15 (Reuters) - Amazon.com Inc-owned (AMZN.O) Twitch said on Friday that last week's data breach at the live streaming e-sports platform contained documents from its source code.Passwords, login credentials, full credit card numbers and bank details of users were not accessed or exposed in the breach, Twitch said in a statement.The platform, which is used by video gamers for interacting 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) - Turquoise Hill Resourcesannounced Thursday that in Q3 2021, both copper and gold production from theopen pit at the Oyu Tolgoi mine in Mongolia were higher compared to Q3 2020 dueto higher copper and g...Read More
WASHINGTON, Oct 15 (Reuters) - Suspected ransomware payments totaling $590 million were made in the first six months of this year, more than the $416 million reported for the whole of 2020, U.S. authorities said on Friday, as Washington put the cryptocurrency industry on alert about its role in combating ransomware attacks.The U.S. Treasury Department said the average amount of reported ransomware...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) - Zijin Mining announced todaythat its subsidiary Serbia Zijin Mining Doo has obtained the permits for theuse of all mine facilities of the Upper Zone of the Timok copper and gold mineissued by the Minis...Read More
WASHINGTON (Reuters) - U.S. business inventory accumulation increased solidly in August, though motor vehicle retailers continued to struggle to restock amid an ongoing global semiconductor shortage, which is forcing automobile manufacturers to cut production.Business inventories rose 0.6% after a similar gain in July, the Commerce Department said on Friday. Inventories are a key component of gros...Read More