(Reuters) - U.S. Senator Joe Manchin has promised to block a proposed royalty for minerals extracted on federal land from advancing in the U.S. Senate's version of the hotly debated reconciliation package, a senate staffer said on Thursday.Manchin, a West Virginia Democrat and chair of the Senator's Energy and Natural Resources committee, promised U.S. Senator Catherine Cortez Masto, a Nevada Demo...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) - Fortitude Gold (OTCQB: FTCO)today announced preliminary third quarter production of 11,478 gold ounces fromits Isabella Pearl mine in Nevada, USA. Through the first threequarters of 2021, the company's...Read More
WASHINGTON (Reuters) - The four largest U.S. consumer banks posted another strong quarter this week as the rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading also boosted their bottom lines.JPMorgan Chase & Co, Citigroup, Well Fargo & Co and Bank of America Corp, seen by analysts and economists as...Read More
(Adds comments, background)LONDON, Oct 14 (Reuters) - The Bank of England can hold off on raising interest rates because investors are doing some of the central bank's work for it by betting on tighter monetary policy in Britain and the United States, BoE interest rate-setter Catherine Mann said."They see that monetary policy normalisation is the direction of travel ... and so they are doing their...Read More
(Reuters) - Despite a broadly shared view that the U.S. labor market has healed enough to allow the Federal Reserve to start reducing its monthly bond purchases as soon as next month, policymakers remain divided over inflation and what they should do about it.The U.S. government reported on Thursday that producer prices rose 8.6% in the 12 months through September, the biggest year-on-year advance...Read More
LONDON (Reuters) - Global inflation is spreading to a wider range of goods and services, as the rapid recovery in spending overwhelms the short-term ability of manufacturers, freight firms and service providers to increase output.Previously characterised by policymakers as "transient", the increase in inflation as the economy recovers from the exceptionally deep coronavirus-induced recession has p...Read More
Oct 14 (Reuters) - Thomson Reuters Corp (TRI.TO) is launching a $100 million venture capital fund to invest in early stage companies that serve professional audiences in the legal, tax and accounting, and news media business.The fund, named "Thomson Reuters Ventures," is part of Chief Executive Steve Hasker's plan to transform the provider of news and information to professionals into what it ca...Read More
(Kitco News) Russian President Vladimir Putin weighed in on crypto at the Russian Energy Week, stating that cryptocurrency "has value," but it might be "too early" to use it as an alternative means of payment to the U.S. dollar when trading energy resources.At the event held this week in Moscow, Putin was asked whether cryptocurrencies could be used to settle oil trades as an option to move away 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) - Foran Mining (TSX.V: FOM)today announced an updated mineral resource estimate for the company's100%-owned McIlvenna Bay deposit located in east-central Saskatchewan, Canada.The company said that the202...Read More
The bulls have finallytaken back control of Gold, Silver and Platinum. All three have now managed toreverse the trend after their prolonged downtrend. We have seen them breakabove the resistance levels we wrote about last week, now we look to buy thedips. The trends are nowhigher, which makes us double long. We always own physical and now long thefutures. No one knows how long this trend will last...Read More
MOSCOW (Reuters) - Russian President Vladimir Putin said that crypto currencies were too unstable to be used to settle oil contracts but that they still deserved a place as a means of payment.The Russian leader made the remarks in an interview with CNBC that was published on the Kremlin's website on Thursday. He was asked if he could see oil contracts being denominated in cryptocurrencies instead...Read More
(Reuters) - Billionaire entrepreneur Elon Musk said in a tweet on Thursday he was in talks with airlines about installing Starlink, a satellite-based broadband service owned by his rocket company SpaceX.Musk, who is known for his Twitter banter, announcements and lively interactions with followers, did not provide any details about the talks in his tweet. It was not immediately clear which airline...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 arehigher in midday U.S. trading Thursday and hit four-week highs. The metals arebeing propelled up by improving near-term chart postures and lingering concernsabout rising and...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) - First Cobalt (TSX-V: FCC)announced Thursday that it has received the second of three required permitamendments to recommission its hydrometallurgical refinery in Canada. "Receipt of the Air &Noise Envi...Read More
WASHINGTON (Reuters) - The four largest U.S. consumer banks posted another strong quarter this week as the rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading activity also boosted their bottom lines.JPMorgan Chase & Co, Citigroup, Well Fargo & Co and Bank of America Corp, seen by analysts and economists as...Read More
WASHINGTON, Oct 14 (Reuters) - Mobile phone companies advertise high-speed 5G service with U.S. maps splashed with pink or blue to suggest widespread coverage, but the latest generation wireless technology is actually only available less than a third of the time in the best served states, new data shows.5G technology was designed to be faster than the 4G wireless, with so little latency to help ma...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) - Karora Resources (TSX: KRR) todayannounced record quarterly consolidated gold production since the Higginsvilleacquisition of 30,365 ounces for the third quarter of 2021 from its Beta Huntand Higginsvi...Read More
WASHINGTON/BRUSSELS, Oct 14 (Reuters) - The International Monetary Fund's steering committee is urging global policymakers to increase their monitoring of inflation dynamics and be ready to take "decisive actions to maintain price stability," a draft communique seen by Reuters showed.The statement, to be issued by the Fund's International Monetary and Financial Committee (IMFC) on Thursday, highli...Read More
LONDON, Oct 14 (Reuters) - Britain's new body overseeing accounting rules following Brexit said it was braced for a "lot of noise" from the 1.7 trillion pound ($2.33 trillion) insurance sector about measures to increase transparency of financial positions and performance.Departure from the European Union meant Britain had to set up its own body to endorse international accounting rules, a task pre...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) - Wesdome Gold Mines (TSX: WDO)announced today that the company produced 29,344 ounces of gold in Q3 2021, a47% increase compared to 20,008 ounces produced in Q3 2020.Importantly, the company saidthat du...Read More