Headline CPI inflation is now back at 5.4%, up from 5.3% in August, according to data released Wednesday. Ted Oakley, founder and partner of Oxbow Advisors, told David Lin, anchor for Kitco News, that a diversity of hard assets is required to properly hedge against higher consumer prices. "We think you have to have a mix of agriculture, food, energy, anything that is tied to making hard things. R...Read More
The government released the inflationary report forSeptember today vis-? -vis the CPI (Consumer Price Index), which showed thatinflation continues to increase. In July of this year, the consumer price indexreached an apex of 5.4% and then decreased to 5.3% in August. Today's reportshows that inflationary pressure is now back to 5.4% year over year. Estimatesby economists polled by Dow Jones were f...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) - Lundin Gold (TSX: LUG) today reported third quarter 2021 gold production of 107,663 oz from its Fruta del Norte gold mine in southeast Ecuador resulting in gold production of 320,599 oz for the nine mo...Read More
WASHINGTON, Oct 13 (Reuters) - A global minimum global corporate tax would result in Germany taking several billion euros in additional revenue from domestic taxation, German Finance Minister Olaf Scholz said. (Reporting by Christian Kraemer, writing by Thomas Escritt, editing by Kirsti Knolle) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Ki...Read More
WASHINGTON, Oct 13 (Reuters) - International Monetary Fund chief Kristalina Georgieva on Wednesday distanced herself and the fund from a data-rigging scandal involving her former employer, the World Bank, but said she did not expect the saga to hamper decades of close collaboration between the two institutions.Georgieva, who was cleared of wrongdoing in the matter by the IMF's executive board on...Read More
BELFAST, Oct 13 (Reuters) - Northern Ireland's largest pro-British party said on Wednesday the European Union's proposed measures to ease the transit of goods to Northern Ireland from Britain are a "starting point" but "appear to fall far short of the fundamental change needed".Jeffrey Donaldson, leader of the DUP, said his party "will take time to study the detail of the papers produced" while re...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) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have...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) - According to the latest databy Statistics South Africa (Stats SA), the domestic mining production increasedby 2.0% year-on-year in August 2021.According to the report, thelargest positive contributors...Read More
Oct 13 (Reuters) - The Federal Reserve signaled on Wednesday it could start reducing its crisis-era support for the U.S. economy by the middle of next month, with a growing number of its policymakers worried that high inflation could persist longer than previously thought.Though no decision on a "taper" of the U.S. central bank's $120 billion in monthly asset purchases was reached at its Sept. 21...Read More
MEXICO CITY, Oct 13 (Reuters) - Deputy Central Bank Governor Jonathan Heath expects Mexico's economy in 2023 to begin recovering losses from the pandemic, but the expansion will be "relatively slow" due to weak foreign investment flows, according to comments released on Wednesday.Mexico's economy plummeted 8.5% in 2020 due to the COVID-19 pandemic and the central bank, known as Banxico, estimates...Read More
WASHINGTON (Reuters) - Finance leaders from the G20 major economies on Wednesday endorsed a global deal to revamp corporate taxation and pledged to avoid premature withdrawal of fiscal support while keeping a close eye on inflation, according to a final draft communique seen by Reuters.The G20 finance ministers and central bank governors also called on the International Monetary Fund to establish...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) - Treasury Metals (TSX: TML)today announced high-grade intersections from an initial 6,650 metres from 12holes of a planned 25,000 metre diamond drilling program for 2021 at theGoliath gold deposit, loca...Read More
Oct 13 (Reuters) - Dell Technologies Inc (DELL.N) on Wednesday said it will release software designed to help telecommunications carriers manage the computers in their networks, deepening its push to become a major player in 5G technology.Dell has been working to take advantage of an industry-wide movement toward a technology called Open Radio Access Network (O-RAN), where telecommunications car...Read More
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)* JPMorgan falls, BlackRock gains after earnings* Apple falls after report of lower iPhone production* Indexes: Dow down 0.1%, S&P up 0.1%, Nasdaq up 0.5% (New throughout, updates prices, market activity and comments to after Fed minutes; new byline, adds dateline)Oct 13 (Reuters) - U.S. st...Read More
(Adds context, WCG's IPO details)Oct 13 (Reuters) - WCG Clinical Inc, a clinical trial solutions company backed by Singapore's sovereign wealth fund GIC, on Wednesday filed to withdraw its initial public offering, joining a list of companies that pulled the plug on their offerings in recent weeks.The company did not give a reason for the withdrawal in its paperwork with the U.S. securities regulat...Read More
(Kitco News) - The price of silver could possibly surge to $40 an ounce bymid 2022, James Anderson, CEO and Chairman of Guanajuato Silver Companypredicts. But Silver has continued to underperform 2021 estimates, currently hoveringat about $23 an ounce.Anderson explained why he is so bullish on silver. "If we have a weak economycoupled with a drive towards needing and using more silver, you're goi...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) - Cypress Development (TSXV:CYP) reported Wednesday that the assembly of the pilot plant for the company's100%-owned Clayton Valley lithium project in Nevada is complete. According to the company'sstatem...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) - Marimaca Copper (TSX: MARI) said today it encounteredsignificant extensions at depth of known copper mineralization at its MarimacaOxide Deposit (MOD). The company was up 19% to $4.45. The Marimaca cop...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) - Nevada Lithium Resources (CSE:NVLH) released its preliminaryeconomic assessment for its Bonnie Claire Lithium Project, located in NyeCounty, Nevada. The company highlighted the following: Average annua...Read More
(Reuters) -AvidXchange Inc opened around 3.4% below its initial public offering (IPO) price in its Nasdaq debut on Wednesday, giving the U.S. business payments firm a market capitalization of roughly $4.62 billion.Shares of the company, which counts Mastercard Inc among its investors, opened at $24.14, compared with the IPO price of $25 per share.AvidXchange, which makes software that automates pa...Read More