GOLD / SILVERTherallies in gold and silver on Wednesday were very impressive, especially withthe dollar not making a fresh low for the week. However, it should be notedthat the Dollar Index did make a new low for the week overnight and hit itslowest level since September 28. It is also possible that inflationary dialoguefrom legendary investor Paul Tudor Jones prompted buying of both gold andsilve...Read More
Kitco MEDIA ? As The Miners Bounce, Resistance Levels To Watch in GDXJ And GDXBy Cory FleckContributing tokitco.com Follow @KitcoNewsNOWFleck@kereport.comwww.kereport.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; however, neither Kitco Metals I...Read More
(Reuters) - Shares of SoftBank-owned WeWork jumped nearly 9% as they finally started trading in New York on Thursday, capping an arduous journey to the public markets for the storied office-sharing company that was once valued as high as $47 billion.While WeWork's top management led by current chairman and SoftBank executive Marcelo Claure insist the worst is over, the office-sharing firm continue...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) - In a world awash withovervalued equity markets, one market strategist once again has his eyes on themining sector as it continues to be ignored by generalist investors.In his latest market report,Jesse...Read More
Oct 21 (Reuters) - The U.S. Federal Reserve on Thursday banned individual stock purchases here by top officials at the central bank and unveiled a broad set of other restrictions on their investing activities roughly six weeks after reports of active trading by some senior policymakers triggered an ethics uproar.The six members of the Fed Board of Governors are required to file annual financial...Read More
Despite lackluster third quarter and year-to-date performance for gold, the fundamental backdrop for precious metals and related mining share prices continues to strengthen in our opinion. Here's why we believe this: Inflation has become increasingly problematic and more persistent than previous sanguine assessments by Federal Reserve Board (Fed) Chairman Jay Powell and other Fed officials.1Real...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) - Elevation Gold Mining (TSXV:ELVT) today reported updated Mineral Reserve, Mineral Resource estimates aswell as Q3 2021 production results for its Moss gold mine, located in MohaveCounty, Arizona. Accor...Read More
(Reuters) - For months, U.S. President Joe Biden and Democrats touted a $3.5 trillion Build Back Better plan as a transformational piece of legislation that would reshape the world's largest economy for decades to come.They have spent recent days painfully deciding how to pare down parts of the plan, and which parts to scrap entirely as they seek to satisfy demands from within their own ranks to c...Read More
WASHINGTON, Oct 21 (Reuters) - The U.S. Federal Reserve on Thursday banned individual stock purchases by top officials at the central bank and unveiled a broad set of other restrictions on their investing activities roughly six weeks after reports of active trading by some senior policymakers triggered an ethics uproar.Following is a full text of the Fed’s announcement:Following a comprehens...Read More
NEW YORK (Reuters) - Inflation expectations remain anchored in Mexico as the central bank has tightened monetary policy while unanchored expectations in Argentina will require action "on a number of fronts" a top official at the International Monetary Fund said on Thursday."We see inflation expectations still very well anchored in Mexico and it's right for the central bank to be raising rates," sa...Read More
BERLIN, Oct 21 (Reuters) - A booster dose of the COVID-19 vaccine developed by Pfizer Inc (PFE.N) and German partner BioNTech SE (22UAy.DE) restored efficacy to 95.6% against the virus, including the Delta variant, data released by the companies from a large study showed on Thursday.The companies said the trial, which has not been peer-reviewed, tested 10,000 participants aged 16 and older, an...Read More
WASHINGTON, Oct 21 (Reuters) - Trade chiefs from the developed world's economic powerhouses gathering on Friday have few options at hand for a rapid fix to the supply chain woes driving up inflation and crimping growth, a problem trade experts say arises from market forces outside their reach.The G7 trade ministers meeting in London may call for stronger efforts to clear backlogs at container port...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) - South32 reported today thatit has recorded sequentially lower base metals production in September quarter2021, with Cerro Matoso impacted by a temporary equipment outage, whileCannington extracted a pl...Read More
Oct 21 (Reuters) - U.S. carriers American Airlines (AAL.O) and Southwest Airlines (LUV.N) on Thursday warned mounting inflationary pressures could overshadow strong holiday demand and delay a complete return to profit.Both the Texas-based carriers posted a smaller-than-expected loss in the third quarter, but said rising fuel prices as well as higher labor costs are hurting earnings in the quar...Read More
he US Forest Service on Wednesday proposed a 20-year ban on mining in Minnesota's Boundary Waters region, a step that would block Antofagasta's Twin Metals copper and nickel mine project.The announcement reversed a decision by former President Donald Trump and set off a review of how mining could affect the popular outdoor recreational area. It freezes issuance of new mining leases or...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) - A supply crunch and growing demand have pushed the coppermarket to the brink of a new breaking point as the London Metals Exchangeadjusts its rules to deal with historically low inventory levels.The cu...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) - Africa-focused gold miningcompany Perseus Mining announced today that it has achieved another quarterlygold production record, producing 112,786 ounces of gold at its three mines inAfrica, up 10% on th...Read More
(Reuters) -Valero Energy Corp predicted on Thursday low inventories and a recovery in fuel demand to pre-pandemic levels could support higher refining margins, shrugging off a recent rally in crude prices.Gasoline and distillate consumption in the United States is back in line with five-year averages after more than a year of weak demand due to the pandemic that had also knocked refining capacity...Read More
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Adds Johnson on COVID-19,N.I. Protocol, updates prices, context)LONDON, Oct 21 (Reuters) - Sterling dipped below one-month highs on Thursday, tracking a similar move in risk-oriented currencies as sentiment weakened across financial markets and traders sought refuge in the...Read More
BERLIN (Reuters) -SAP said on Thursday demand for its cloud business database was growing as the German business software group confirmed its preliminary third-quarter results and full-year guidance boosted by big returns by its venture capital fund.Last week, the company had forecast cloud revenue to grow by 16%-19% in the year as a whole, helping its overall cloud and software revenue to increas...Read More