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
Adam HamiltonArchivesOct 22, 2021 The gold miners' latest quarterly earnings season will soon get underway, with their full Q3'21 results due out by mid-November. These fundamental reports are invaluable to traders, revealing how companies are actually faring operationally and financially. Despite Fed-tightening fears hammering gold and gold stocks last quarter, the miners are likely to collective...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 pricesarehigher in early U.S. trading Friday, supported by increasing worries aboutproblematic price inflation and by a lower U.S. dollar index to end the tradingweek. Friendly charts...Read More
The weak operational performance was driven by COVID-related sick leave and outages at Garpenberg in Sweden and Kivitsa in Finland.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 is holding on to gains above $1,800 an ounce following mixed data on the health of the U.S. manufacturing and service sectors.Friday, IHS Markit said its flash U.S. manufacturing Purchas...Read More
Vale has restarted a conveyor belt at its Salobo copper mine in Brazil following an 18-day stoppage due to a fire, the multi-metal producer said on Friday October 22.Activities at the site's processing plant resumed on Friday, and the company will subsequently ramp up copper concentrate output on Monday October 25.An estimated 8,000 tonnes of copper production was lost because of that downtime, Va...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) - MMG announced today that inQ3 2021, its copper production was 91,202 tonnes, 11% lower than in Q3 2020(102,469 tonnes), due to a prolonged community road blockade at Las Bambas andlower ore grades at K...Read More
(Reuters) - San Francisco Federal Reserve Bank President Mary Daly said on Friday that recent "eye-popping" inflation readings are driven by supply chain breakdowns and will subside as COVID does, and the Fed"s decision not to raise rates in response is the right one."Just because we are standing pat, being patient, is not the same as being asleep," Daly said. Raising rates now would not solve the...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) - Harmony Gold Mining todayreported that two employees were fatally injured in the earlyhours of Thursday morning, following a seismic event resulting in a fall ofground at its Kusasalethu mine, near Car...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 22.China Higher port prices and the likelihood of fewer shipments arriving in the coming months supported buying sentiment in the seaborne manganese ore market. Portside low- and high-grade manganese ore markets extended their rallies amid firm sentiment among suppliers, but buying appetites...Read More
NEW YORK (Reuters) -Global stock indexes were mostly flat to higher on Friday, with financial shares providing some support to the S&P 500 index in early trading, while the U.S. dollar slipped against a basket of currencies.MSCI's broadest gauge of global shares and the S&P 500 both were on track for a third straight week of gains.Investors also digested news that China Evergrande Group appeared t...Read More
By Bloomberg markets live commentator and former Lehman trader Mark CudmoreU.K. breakeven rates at the highest levels this century aren't yet high enough...We're entering the eye of the earnings season and the message from corporates is already coming through loud and clear: prices will climb a chunk further over the coming months, even as output is impaired. Every day brings fresh news of suppl...Read More
Oct 22 (Reuters) - The U.S. budget deficit totaled $2.772 trillion during fiscal 2021, below the prior year's record shortfall but still reflecting a second straight year of massive spending to support households and businesses through the coronavirus pandemic, the Treasury Department said on Friday.The United States posted a deficit of $3.132 trillion in fiscal 2020, when the federal government f...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday October 22. China ?EUR?The price of ferro silicon in China continued to narrow downward following a correction in a previous rally, with many market participants taking a wait-and-see attitude toward the market and an expected steel mill tender in late October. ?EUR?Overall supply was still tight, howeve...Read More
WASHINGTON, Oct 22 (Reuters) - U.S. business activity increased solidly in October, suggesting economic growth picked up at the start of the fourth quarter as COVID-19 infections subsided, though labor and raw material shortages held back manufacturing.Data firm IHS Markit said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rebounded to a...Read More
Fastmarkets has corrected its trioxide grade and standard grade antimony prices, in warehouse Rotterdam, which were incorrectly published on Friday October 22 due to a reporter error.The price for MB-SB-0001 Antimony, max 100 ppm Bi, in-whs Rotterdam, has been changed to $12,900-13,500 per tonne, from an incorrectly published price of $13,300-13,500 per tonne.And the price for MB-SB-0002 Antimony...Read More
LONDON (Reuters) - The U.S. dollar edged lower on Friday and is set for a second consecutive week of decline as news that heavily indebted property firm China Evergrande Group had averted a default buoyed appetite for risky assets.With markets nearly discounting the prospects of a first U.S. rate hike by next July in recent days, the dollar has become more sensitive to risk sentiment. Yields on be...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) - Heading into the European open gold (0.40%) and silver (0.38%) are both trading higher. The yellow metal is at $1789.88/oz still below the 200 day moving average and psychological $1800/oz level. Elsew...Read More
BALTIMORE, Oct 21 (Reuters) - U.S. President Joe Biden on Thursday backed away from pledged tax increases to fund planned infrastructure and social spending, and also said he was open to reforming Senate voting rights by "fundamentally altering" its filibuster custom.In a wide-ranging CNN town hall in Baltimore, Biden said he was close to striking a deal to pass major spending measures after week...Read More