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
Oct 14 (Reuters) - The U.S. Commodity Futures Trading Commission said on Thursday it sanctioned banking group UBS AG (UBSG.S) $500,000 for failing to retain certain audio recordings for the time required under CFTC regulations."The order finds that as a result of failures in UBS's audio retention systems, the firm deleted over 1,000 hours of audio data after one day, including voice recording fi...Read More
Oct 14 (Reuters) - Microsoft Corp's (MSFT.O) LinkedIn said on Thursday it would pull the plug on its existing professional networking website in China and instead launch a jobs-only version later this year.The new website, called InJobs, will not include a social feed or the ability to share posts or articles, LinkedIn said.Reporting by Eva Mathews in Bengaluru; Editing by Anil D'Silva Disclaim...Read More
NEW YORK, Oct 14 (Reuters) - A U.S. central bank digital currency could introduce a host of questions about privacy and government authority, and there are many steps needed before one could be put into place, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday."We're going to continue to study it and we'll also see how the market evolves," Bostic said during a virtual discussio...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 announced Thursdaythat it has entered into two binding conditional agreements with Sumitomo MetalMining and Sumitomo Corporation (collectively Sumitomo) to acquire a 45%interest in the Sierra G...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) - Nexa Resources (NYSE and TSXSymbol: NEXA) announced yesterday that the operating license for the Aripuan??greenfield project was granted by the Environmental Secretariat of the state ofMato Grosso, Bra...Read More
LONDON, Oct 14 (Reuters) - Oil prices rose by about 1% on Thursday after the International Energy Agency said that record natural gas prices would boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply.Brent crude futures gained 89 cents, or 1.1%, to $84.07 a barrel by 1204 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude fut...Read More
WASHINGTON, Oct 14 (Reuters) - A renewed defence cooperation deal between the U.S. and Greece is designed to mutually safeguard and protect the sovereignty of each country, its Foreign Minister Nikos Dendias said on Thursday."The revision of the mutual defence cooperation agreement we will sign in a few minutes is symbolically and substantially the foundation of our long-term partnership," Dendias...Read More
LONDON (Reuters) - World markets stayed focused on rising inflation on Thursday as tech stocks rebooted global equities, oil and gas prices fired up again but the dollar and benchmark government bond yields both stalled.Record high Chinese factory gate inflation data overnight following stronger-than-expected U.S. CPI figures on Wednesday meant the price pressure theme was very much alive but the...Read More
LONDON (Reuters) - The dollar edged down against major peers on Thursday, reaching its lowest level in 10 days in a pullback from its recent rally, while the Australian and New Zealand dollars rose.Expectations that the U.S. Federal Reserve would tighten monetary policy more quickly than previously expected have helped the dollar rise since early September.But its ascent has recently eased and on...Read More