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) - As a gold investor, if you were expecting an easyend to what has been another relatively quiet week, you were unfortunatelymistaken.The day started with plenty of optimism in the precious metal market...Read More
An anonymous director reports I-80 ANNOUNCES FILING OF THE RUBY HILL PROJECT TECHNICAL REPORTi-80 Gold Corp. has filed a technical report prepared for the Ruby Hill project, in accordance with Canadian Securities Administrators' National Instrument 43-101. The report may be found on the company website and under the company's profile on SEDAR. The independent report, dated Oct. 22, 2021 (effective...Read More
Kitco MEDIA ? The Metals, Money, and Markets Weekly by Mickey Fulp - October 22, 2021By Mickey FulpContributing tokitco.com Follow @KitcoNewsNOWcontact@mercenarygeologist.comwww.themercenarygeologist.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided...Read More
(Reuters) - Two early investors in blank-check company Digital World Acquisition Corp. sold their holdings as news emerged that it was merging with former President Donald Trump's new media venture.Hedge fund manager Boaz Weinstein, who runs Saba Capital Management, and Lighthouse Investment Partners, said they had exited without giving a precise time for the sales or price at which they cashed ou...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 growing inflation threatremains the most extensive support for the gold market as analysts see thepotential for prices to test critical resistance around $1,830 in the nearterm.Friday morning, gold...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 grade or concentration ofa mineral or metal in ore directly affects costs associated with mining as wellas its subsequent beneficiation and extraction of precious components.Kitco ranked currently...Read More
NEW YORK (Reuters) - Options traders are showing little fear that U.S stocks will turn volatile in coming weeks, even as the Federal Reserve appears set to announce an unwind of the easy money policies that helped equities double from last year's lows.The Cboe Volatility Index, known as Wall Street's fear gauge, recently stood at 15.52 after closing at a post-pandemic low of 15.01 on Thursday.The...Read More
BRASILIA, Oct 22 (Reuters) - Brazil’s currency and stocks extended losses on Friday following an exodus of senior Treasury officials after the government announced plans to ramp up spending ahead of next year’s election.The two most senior Treasury officials and their two deputies submitted their resignations on Thursday “for personal reasons,” according to the Economy Mini...Read More
Whatis the next market to see a short squeeze? That is the question I have beenasked most by clients this week. Shortages have been popping up everywherewithin supply chains, especially where inventory remains low and bottlenecks indistribution occur. Multiple commodities such as Oats, Cotton, Crude Oil, andGasoline have rallied double-digit percentage gains this month. I know you arethinking, whe...Read More
(Reuters) -Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch the interest rate dial."I do think it''s time to taper; I don''t think it''s time to raise rates," Powell said in a virtual appearance before a conference, noting that there are still fiv...Read More
(Recasts, adds Draghi comments)BRUSSELS, Oct 22 (Reuters) - Italy has urged the European Union to start work immediately on a plan to create a joint storage system for strategic gas reserves, Prime Minister Mario Draghi said on Friday.Speaking to reporters after an EU summit, Draghi said Brussels needed to draw up an inventory of gas reserves that are available today across the bloc.“On ener...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) - Ferrochrome producer MerafeResources (JSE: MRF) reported today that its attributable 9M 2021 production fromthe Glencore Merafe Chrome Venture surged by 64% to 276 ktonnes compared to thesame period a...Read More
(Recasts with president's comments, consultancy note, details)MEXICO CITY, Oct 22 (Reuters) - Mexican inflation rose slightly during the first two weeks of October, official data showed on Friday, an uptick the president attributed to a global fall in production as well as the U.S. economy "heating up," which has spurred demand.President Andres Manuel Lopez Obrador told reporters he expected highe...Read More
Oct 22 (Reuters) - The U.S. federal budget deficit shrank in September to $62 billion from $125 billion in the year-earlier period and was the smallest budget gap since January 2020. (Reporting by Dan Burns Editing by Paul Simao) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accurac...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) - West Africa - focused goldminer Hummingbird Resources (AIM: HUM) announced today that it poured 22,102 ozof gold at its Yanfolila gold mine in Mali in Q3 2021, a decrease of 11%compared to 24,722 oz po...Read More
HONG KONG/SHANGHAI, Oct 22 (Reuters) - China Evergrande Group (3333.HK) appeared to have averted default with a last-minute bond coupon payment, a source said on Friday, buying it another week to wrestle with a debt crisis looming over the world's second-biggest economy.The property developer also announced plans to give future priority to its electric vehicles business over real estate.Facing 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) - Therising inflation threat is creating some significant bullish sentiment in thegold market, even as Federal Reserve Chair Jerome Powell tries to talk downthose growing concernsEarlyFriday, gold prices...Read More
BRASILIA, Oct 22 (Reuters) - Brazil's President Jair Bolsonaro is expected to attend next week's summit of the Group of 20 leading economies in Rome, the chief of staff of the foreign minister said on Friday at a news conference.Doubts over his attendance arose due to economic turbulence his government is facing. Brazil's currency and stocks extended losses on Friday following an exodus of senior...Read More
LONDON, Oct 22 (Reuters) - The Group of Seven wealthy nations agreed on principles to govern cross-border data use and digital trade, Britain said in what was described as a breakthrough that could liberalise hundreds of billions of dollars of international commerce.Trade ministers from the G7 reached agreement at a meeting in London on Friday.The deal sets out a middle ground between highly regul...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) - Orocobre (ASX:ORE, TSX:ORL) todayannounced another record quarter at Mt Cattlin with 67,931 dry metric tonnes(dmt) of spodumene concentrate produced in September quarter, up 7%quarter-on-quarter.Import...Read More