Citizen Free Press, Released on 10/30/21"I know some people seem to not want to give up on the wonderful pandemic, but you know what? It's over. And thatContinue... Bill Maher Unleashes on Libs, Defends the Unvaccinated - 'Stop the insanity, Covid is over, start recognizing Natural Immunity'... added by Herman James on 10/30/2021View all posts by Herman James ?+'Read More
Kitco News, Released on 10/30/21It's been "a mad world" out there with record-high equities, real estate and more. But the long-awaited surge in gold and silver is coming in the next six months, said Mike Larson, senior analyst at Weiss Ratings."If you're in a world where many assets are over-valued, where real estate is extremely highly valued, stocks are extremely highly valued, and so on. What...Read More
Brownwood, Texas, today is bustling like never before. The old hotel downtown is being renovated after sitting in decay for decades.The restaurants are packed. Houses are selling for 20% more than their Zillow values. The banks are experiencing a big influx of funds. New residents are pouring in from around the country. Everyone is making money. It's a charming and happy place, except that everyon...Read More
Gold prices dropped dramatically in trading today, making an intraday low of $1772.40. As of 3:25 PM EDT, gold futures are fixed at $1784.80. Today's selloff was predicated by dollar strength, with the dollar index gaining 0.90%, taking it to 94.165.That is the primary market force that made both gold and silver prices lower on the day. Gold is currently trading down by 0.98%, and the dollar is cu...Read More
Jack Dorsey, CEO of Twitter, recently Tweeted that "Hyperinflation is going to change everything. It's happening."Steve Hanke, professor of applied economics, told David Lin, anchor for Kitco News, that the term "hyperinflation" is not being used correctly in this case. "People play fast and loose with language and words like hyperinflation," he said. "What [Dorsey] was trying to express, I think...Read More
Subscribe to Kitco Roundtable on iTunes The gold miners have not done themselves any favors with hiking dividends instead of acquiring more assets, said mining legend and entrepreneur Ian Telfer.On Friday Telfer recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.Telfer has had a storied mining career and was foundational in the creation of Go...Read More
LONDON, Oct 29 (Reuters) - French President Emmanuel Macron warned Prime Minister Boris Johnson on Friday that Britain's credibility was on the line in the row over post-Brexit fishing rights and Northern Ireland, with other countries watching closely.Macron told the Financial Times in an interview that the fishing rights issue was important."Make no mistake, it is not just for the Europeans but a...Read More
(Kitco News) - Altcoins lead the charge in this week's crytpo marketaction, with Ethereum hitting an all-time high on Friday. Other notablementions include SHIBA INU, and Squid Game, a new token inspired by the hitNetflix series "Squid Game."Ben Samaroo, CEO of WonderFi, discusses with David Lin,anchor for Kitco News, why the markets are up this week and what futureadvances in DeFi will do for th...Read More
(Reuters) -The S&P 500 and the Nasdaq crept back up to record territory on Friday after a boost from Microsoft, which overtook Apple Inc as the world's most valuable company after the iPhone maker posted downbeat quarterly revenue on hit from supply chain disruptions.Wall Street's tech titans Google-owner Alphabet Inc, Meta Platforms (Facebook Inc) and Tesla Inc rose between 1.2% and 2.3%, while M...Read More
LONDON, Oct 29 (Reuters) - The readout from this week's brutal selloff in government bond markets seems clear: rising inflation will hustle central banks into panicky interest rate rises, quashing economic growth.Yet stocks, currencies and corporate bonds are sending a different picture: keep calm. Maybe even buy more.Time will tell who has it right. What's for sure is many bond investors were cau...Read More
(Kitco News) The persistent inflation narrative is forcing markets to price in more aggressive central banks, with next week's key announcements from the Federal Reserve and the Bank of England on everyone's radars.All of the gold's gains above $1,800 an ounce continue to be capped. After breaching this key resistance level this week, the precious metal once again saw renewed selling pressure as p...Read More
NEW YORK (Reuters) - The dollar index continued to rebound from prior-day losses on Friday after U.S. government bond yields rose on news that the Federal Reserve's preferred inflation measure showed prices continuing to rise faster than its 2% target.The euro, which has a heavy weighting in the dollar index, plunged 1.05% against the greenback - the most since at least June.The euro's drop helped...Read More
MEXICO CITY, Oct 29 (Reuters) - Mexico’s first economic contraction since a recovery began from the coronavirus pandemic poses a challenge to the central bank’s monetary policy tightening cycle, but stubbornly high inflation appears likely to take precedence, analysts said on Friday.The Mexican economy shrank 0.2% here in the July-September period compared with the previous quarter a...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) - It's another Friday, so you knowwhat that means: another day and week where gold prices have been unable to push above $1,800 an ounce. For those of you keeping scoreat home, gold prices have tested a...Read More
ROME (Reuters) - The IMF is narrowing its push for debt-for-climate swaps to focus on countries without major debt issues and has dropped plans to release a joint proposal with the World Bank before next week's UN climate conference, according to sources familiar with the matter.In April, International Monetary Fund (IMF) chief Kristalina Georgieva said green debt swaps could spur accelerated acti...Read More
ROME, Oct 29 (Reuters) - President Joe Biden on Friday called U.S. government actions "clumsy" during his first meeting with French President Emmanuel Macron since a diplomatic crisis erupted last month over a U.S. security pact with Britain and Australia.Biden used the meeting at the G20 summit in Rome, Italy to try to turn the page on a relationship that came under strain over the U.S.-Australia...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) - Codelco was the largest copper mining company in the worldin Q2 2021 (based on attributable copper tonnes). Top 10 copper miners produced2,255 thousand tonnes of copper in Q2 2021, 3% more than a year...Read More
LONDON, Oct 29 (Reuters) - The euro's losses deepened on Friday, retracing nearly half of its gains in the previous session, as euro zone inflation shot past expectations this month to equal its all-time high, creating a policy dilemma for the European Central Bank.The single currency which has broadly struggled against its rivals on Friday, slipped to more than one-year lows against the Swiss fra...Read More
Finally,November is here, and the initial setup for the first week will be challenging,especially for the Gold market. We expect the Federal Reserve to acknowledgethe effectiveness of the QE program since the pandemic started, and with Covidcases declining, there will now be a need to taper. They will reduce assetpurchases by $15 billion each month, effectively taking it to zero by June,when their...Read More
PARIS (Reuters) -A group of bondholders including asset manager BlackRock and an affiliate of private equity firm Carlyle has become the top shareholder in French fashion company SMCP, taking on a 29% equity stake it now wants to sell.The ownership of SMCP, whose brands include Sandro and Maje, has been the subject of speculation after a unit of its Chinese majority owner Shandong Ruyi defaulted o...Read More