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 has continued to recover overnight after falling for two sessions in a row. The yellow metal now trades 0.75% higher at $1777/oz. Silver has moved 1.75% in the right direction to trade at $23.59/o...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 pricessolidly higher in early U.S. trading Tuesday, with silver notching a four-weekhigh. A drop in the U.S. dollar index on this day and more bullish near-termchart postures for both...Read More
Today was all about two things - what went up (crypto) and what went down (US economic growth forecasts).The much-anticipated launch of a Bitcoin (Futures) ETF sent the cryptocurrency to a record closing high (yes we know BTC doesn't "close")...Source: BloombergJust below the record intraday high from earlier in the year...Source: BloombergSpot Bitcoin topped $64,000 intraday...Sour...Read More
"Northwestern Ontario is home to a dynamic, vibrant tourism sector that attracts tourists from across Canada and the United States," said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. "However, to keep our sports tourism sector competitive, it's critical that we continue to support local businesses and communities. Today's investment directly contributes t...Read More
Novelis will invest approximately $130 million to upgrade its operations in Oswego, New York, the global aluminum rolling and recycling firm said in a press release on October 18.The project will increase hot mill capacity by 124,000 tonnes at the plant, which serves the can, automotive and specialty products markets, Atlanta-based Novelis said. The investment, which will be between spring 2022 an...Read More
(Updates prices, adds details)LONDON, Oct 19(Reuters) - Sterling hit a four-week high against the dollar on Tuesday as expectations mount the Bank of England (BoE) will hike interest rates, while the greenback dipped as the rapid rise in U.S. Treasury yields in recent days stabilised.BoE Governor Andrew Bailey on Sunday sent perhaps the clearest signal yet of a pending hike, saying the BoE will "h...Read More
Share this article VANCOUVER - Cornerstone Capital Resources Inc. [CGP-TSXV; CTNXF-OTC; GWN-Berlin, FSE] provided an independently verified update regarding a mineral resource estimate (MRE) for its Tandayama-America (TAM) porphyry copper-gold deposit located 3 km north of the Alpala deposit at its Cascabel copper-gold porphyry joint venture project in northern Ecuador in which Cornerstone has a...Read More
Base metals prices continued to soar higher this morning, Tuesday October 19, with cash prices rising at an even faster pace while shorts are squeezed. Cash copper prices on the London Metal Exchange were evaluated on Monday evening at $1,103.50 per tonne.All of the LME base metals' cash/three-month spreads, except that for aluminium, are in backwardation.Risk appetite is fairly upbeat despite gen...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) - Trigon Metals (TSXV:TM)announced today that the Kombat copper mine in Namibia officially resumedproduction after 14 years of closure.Trigon has successfullyrestarted the Kombat mine with a successful b...Read More
Share this article TORONTO - Maritime Resources Corp. [MAE-TSXV] reported drill results and an update from its continuing 40,000-metre exploration program. The results reported are from drilling at the Hammerdown gold project in the Baie Verte mining district of Newfoundland and Labrador, which includes the Hammerdown and Orion gold deposits.Exploration activities are continuing with two diamond...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) - B2Gold (TSX: BTO) (NYSE: BTG)announced Tuesday that its total gold production in Q3 2021 was 310,261 ounces(including 14,538 attributable ounces from Calibre), above budget by 7% and 18%higher than 263...Read More
LONDON/SINGAPORE, Oct 19 (Reuters) - Bitcoin hit a six-month high and was within striking distance of its all-time peak on Tuesday as traders bet an anticipated listing of a futures-based U.S. exchange-traded fund could herald investment flows into cryptocurrencies.Bitcoin , the world's biggest cryptocurrency, rose as much as 1.5% during the Asia session to $62,991, its highest since mid-April and...Read More
HONG KONG, Oct 13 (Reuters) - (This Oct. 13 story corrects name to Mao Shixing in penultimate paragraph)The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published on Wednesday by Britain's Cambridge Centre for Alternative Finance showed.The figures demonstrate the impact of a crackdown on bitcoin trading and mining launched by China's State...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. homebuilding unexpectedly fell in September amid persistent shortages of inputs and labor that are crimping the housing market and overall economic activity.Housing starts dropped 1.6% to a seasonally adjusted annual rate of 1.555 million units last month, the Commerce Department said on Tuesday. Data for August was revised down to a rate of 1.580 million units...Read More
China's cobalt metal price strengthened after China's National Day holiday (October 1-7) amid the rally in international benchmark metal price and a shortage of spot units. While the price gap between China domestic market and the international market narrowed, it is unlikely that the former will match the latter in the near future, sources told Fastmarkets.Fastmarkets' price assessment for cobalt...Read More
"Skate to where the puck is going to be, not where it has been."- Wayne GretzkyIn May 2016, I recommended that my Bull and Bust Report readers buy Bitcoin:By the end of 2014, no one was interested in Bitcoin. All the sellers were out. It was yesterday's news. And starting late last year and coinciding with the Fed December rate hike, Bitcoin more than doubled in price to $458, where it is today. A...Read More
LONDON, Oct 19 (Reuters) - World stocks climbed to a one-month high on Tuesday as a rally in technology shares and prospects of more forecast-beating corporate earnings helped counter concerns about elevated inflationary pressures.Oil prices rose but stood below Monday's three-year highs while the worrying trend of flattening global government bond yield curves paused, helping investors recoup som...Read More
LONDON, Oct 19 (Reuters) - The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns.A robust start to the U.S. earnings season and hopes that China will be able to contain its property market malaise boosted g...Read More
LJUBLJANA (Reuters) - Euro zone inflation is at risk of overshooting projections so the European Central Bank needs to carefully monitor price growth and should end its emergency stimulus programme next March, ECB policymaker Bostjan Vasle told Reuters.Inflation has surged above the ECB's target due to a long list of one-off factors, leading to fears that what was once considered a temporary price...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