Oct 20 (Reuters) - Australian shares rose on Wednesday asmetal-centric stocks jumped on firm commodity prices, whileglobal miner BHP hit a one-month high after topping billionaireAndrew Forrest's bid for nickel miner Noront Resources.The S&P/ASX 200 index rose about 1% to 7,447.3 by0022 GMT.Miners were the biggest boosts on the local bourse,climbing 1.6%, after benchmark iron ore prices recove...Read More
We've all been happy by the action of the last few days. It's niceto see miners rising by 3-5% a day. Now, assuming this is finally the beginning of a new bull legup --and the false dawns are at last over-- we ask, which part of the PMuniverse has to most to rise?The easiest way to answer this is to see how far each group isbelow its all-time high. One big reason I am not big on the general stock...Read More
WASHINGTON, Oct 19 (Reuters) - If high inflation continues through the end of the year the Fed may have to adopt "a more aggressive policy response" to control it, Federal Reserve Governor Christopher Waller said in remarks on Tuesday outlining the case for why Fed officials may have misdiagnosed the current pace of price increases as temporary.Waller said he too still believes the economy has see...Read More
WASHINGTON (Reuters) - The second-ranking U.S. Treasury official told senators on Tuesday that the agency would hold International Monetary Fund Managing Director Kristalina Georgieva accountable for changes needed to safeguard IMF integrity in the wake of a World Bank data-rigging scandal."We did not find that it was appropriate at this point to remove the (IMF) managing director," Deputy U.S. Tr...Read More
Ask a gold bull why Gold hasn't performed wellover the past 15 months, and you might hear the words manipulation,suppression, or Bitcoin in the response. You won't hear that Gold gained nearly 80% intwo years and was historically overbought.Last but not least, you won't hear about thefundamental changes that have driven capital outflows from Gold and Silver, aswell as bonds and into stocks and com...Read More
Editor's Note: The following is an exclusive article by Sean Fieler, the president and CIO of Equinox PartnersFor most investors, finding inefficientlypriced securities is a clear opportunity for profit, but one our age ofinformation does not typically provide. However, in some overlooked markets,these value plays are still prevalent. One such sector is the junior goldmining space.For most miners,...Read More
FRANKFURT, Oct 19 (Reuters) - German exchange operator Deutsche Boerse (DB1Gn.DE) said on Tuesday it posted a 32% rise in third-quarter net profit, a better result than analysts had expected, and it confirmed its guidance for the year.Net profit attributable to shareholders was 300.3 million euros ($349.31 million), up from 227.1 million euros a year ago, the company said. Analysts had expected...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) - Based on quarterly productionresults, Kitco estimates that in Q2 2021, gold production in Canada was 1,570koz, 34% higher compared to 1,174 koz produced in Q2 2020.Jointly owned by Yamana Goldand Agnic...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday she welcomed a revised proposal from congressional Democrats to raise a bank account tax reporting threshold to $10,000 in annual transactions from a proposed $600 level, with an exemption for wage earners.The change was made after major opposition from banking and other lobbying groups who charged that initial p...Read More
Oct 19 (Reuters) - Credit Suisse (CSGN.S) has agreed to pay nearly $475 million to U.S. and UK authorities to resolve charges in connection with Mozambican bond offerings, the U.S. Securities and Exchange Commission said on Tuesday.Reporting by Kanishka Singh in Bengaluru Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The a...Read More
BRASILIA, Oct 19 (Reuters) - Brazil's central bank on Tuesday made its first intervention in the spot currency market since March, pulling the real back from the brink of a six-month low due to fresh concerns about looser government spending ahead of next year's election.The government is preparing an expanded welfare program next year, a person with knowledge of the plans told Reuters, with part...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 gold market continues to tread water below $1,800, butcommodity analysts at TD Securities are not ready to give up on the preciousmetal as they see rising stagflation effects.In a report published...Read More
(Reuters) - The obstacles making it difficult for many women to work, combined with an increase in retirements, could hinder the labor market recovery and be a drag on the U.S. economy, Federal Reserve Governor Michelle Bowman said on Tuesday.Women with young children left the labor force at a higher rate than other workers and some are still struggling to find childcare they can afford, Bowman sa...Read More
WASHINGTON (Reuters) -A top Democrat in the U.S. House of Representatives on Tuesday said he would support allowing the U.S. Treasury secretary to unilaterally extend the limit on federal borrowing, with Congress then empowered to vote on vetoing such decisions."It's a good option," House Majority Leader Steny Hoyer told reporters in a weekly press conference. He said the Treasury secretary should...Read More
Oct 19 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday reported lower-than- expected quarterly revenue after sales of its COVID-19 vaccine missed Wall Street estimates following a string of production setbacks.The New Brunswick, New Jersey-based company maintained its 2021 sales goal of $2.5 billion from the vaccine, and said it recorded $766 million in sales of the shot in the first nine month...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) - Centamin (TSX: CEE) reportedtoday that its Q3 2021 gold production in Egypt of 103,546 ounces was 19% lowerthan in Q3 2020 but slightly ahead of 2021 schedule. The company also reportedthat revenue gen...Read More
Precious metal miner Hochschild Mining (LSE: HOC) is demerging to create a stand-alone business focused on rare earths, Aclara Resources. Aclara is a development-stage rare earth mineral resources company with a land package of mineral concessions in Chile, according to a press release from Hochschild. It's Penco Module covers a surface area of approximately 600 hectares and contains ionic clays t...Read More
NEW YORK/LONDON, Oct 19 (Reuters) - The first U.S. bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high and within striking distance of its all-time peak, as traders bet theETF could boost investment flows into cryptocurrencies.The ProShares Bitcoin Strategy ETF began trading on Intercontinental Exchange Inc's (ICE.N) NYSE Arca on Tuesday under...Read More
BEAUMONT, Texas, Oct 19 (Reuters) - The U.S. National Labor Relations Board is expected to schedule a mid-November vote on removing the United Steelworkers union from Exxon Mobil's (XOM.N) Beaumont, Texas, refinery, a person familiar with the matter said on Tuesday.Exxon locked out union members on May 1 after it and the USW were unable to agree on a new, six-year labor contract for the refinery...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) - Vital Metals (ASX: VML), thefirst rare earths producer in Canada and only the second in North America,announced Tuesday that it has signed a non-binding Memorandum of Understanding("MOU") with rare ear...Read More