Nov 11 (Reuters) - Oil prices drifted lower on Thursday, as the market grappled with concern over increasing U.S. inflation, and after OPEC cut its 2021 oil demand forecast due to high prices.Brent crude futures were down 46 cents to $82.19 a barrel by 12:24 p.m. EDT (1724 GMT) after falling earlier to $81.66. U.S. West Texas Intermediate (WTI) futures were down 50 cents to $80.84 after hitting a...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) - Endeavour Mining (LSE, TSX:EDV) announced Thursday that the company produced 382 koz of gold in Q3 2021, an increase of 57% from Q3 2020 (244 koz), due to the full benefit of consolidated production fr...Read More
(Kitco News) Gold's narrative has shifted after the latest round of hot U.S. inflation data, according to MKS PAMP GROUP. And here's what to watch with the latest surge higher."There's a fundamental change from the previous 'thinking' (strong CPI = faster Fed tapering schedule = lower gold) to strong CPI = some fear, not an acceptance of inflation = higher gold," said MKS PAMP GROUP head of metals...Read More
* U.S. CPI rises at fastest pace in 31 years* Market is spooked by inflation data - analyst* Silvers hits more than 3-month highNov 11 (Reuters) - Gold prices neared the five-month high they touched in the previous session after data showing U.S. consumer prices surged last month prompted a rush into the precious metal seen as a hedge against inflation.Spot gold rose 0.6% to $1,861.46 per ounce by...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) -Renewed focus on global decarbonization as the United NationsClimate Change Conference (COP26) wraps up will lead to more demand forcritical industrial metals, according to commodity analysts at Bank of...Read More
Mr. Carl Lofberg reportsFIREFOX GOLD COMPLETES ANOTHER ROUND OF DRILLING AT MUSTAJARVI PROJECT AND MOVES DRILL TO UTSAMO PROSPECT IN NORTHERN FINLANDFirefox Gold Corp. has provided an update on its diamond drilling campaign that is under way testing up to four of the company's gold properties in Finland's central Lapland greenstone belt, as announced on Oct. 6, 2021.FireFox has completed the first...Read More
(Reuters) - Tesla shares advanced in premarket trading on Thursday after filings revealed Chief Executive Officer Elon Musk had sold about $5 billion of the stock over the past few days, following his much-hyped Twitter poll.The electric-car maker's shares climbed 2.7% to $1,097.18, recouping some of the heavy losses suffered earlier in the week.The share sale was his first since 2016 and comes af...Read More
LONDON, Nov 11 (Reuters) - Oil prices dropped to $82 a barrel on Thursday, extending sharp falls triggered by concerns over rising U.S. inflation while OPEC cut its 2021 oil demand forecast due to high energy prices.Brent crude futures lost 52 cents, or 0.63%, to $82.12 a barrel by 1343 GMT after rising to $83.37 in morning trade. U.S. West Texas Intermediate (WTI) futures were down 83 cents, or 1...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) - Bitcoin-U.S. dollar prices arelower in early U.S. trading Thursday, on a normal corrective pullback afterprices hit a record high earlier this week. A price uptrend remains firmly inplace on the daily...Read More
Nov 11 (Reuters) - U.S. stock indexes were set to rebound on Thursday from a two-day selloff over signs of prolonged inflation, while Walt Disney Co tumbled as subscriber growth slowed in its streaming video service.The S&P 500 (.SPX) and the Nasdaq (.IXIC) snapped their eight-session run of all-time closing highs earlier this week as investors booked profits from recent gains, while surging p...Read More
LONDON (Reuters) - The dollar hit a 16-month high on Thursday and bond market borrowing costs were nudging up again, after the strongest U.S. inflation reading in over three decades fuelled expectations of Federal Reserve interest rate hikes next year.The dollar index, which gauges the currency against six peers including the yen and euro, continued to make steady progress in Europe after Wednesda...Read More
By Yousef SabaDUBAI, Nov 10 (Reuters) - Egyptian businessman Naguib Sawiris said on Wednesday he was looking to diversify his interests into sought-after battery metals and was confident that five new gold prospecting and mining concessions in Egypt would soon be approved.His gold fund has agreed to sell its controlling stake in Golden Star Resources Ltd, one of three gold companies under its cont...Read More
BRUSSELS (Reuters) - The euro zone economy will grow faster than previously expected this year as it recovers from the pandemic-induced recession and continue to expand strongly in 2022 with deficits and public debt falling, the European Commission forecast on Thursday.The Commission said gross domestic product in the 19 countries sharing the euro would grow 5.0% this year after a 6.4% recession i...Read More
WASHINGTON, Nov 11 (Reuters) - Inflation pushed more broadly through the economy in October again challenging the Federal Reserve's outlook for only "transitory" price increases, offsetting recent wage hikes in a blow to consumers, and prompting investors to boost bets the central bank will raise interest rates sooner than expected.Yields on two-year Treasury notes , a proxy for the outl...Read More
And they are off! Gold and silver have broken throughthe key resistance levels and could run a long way. Platinum looks prepped todo so today. Today is Veterans Day, which could slow market action becausebanks are closed. However, the patterns are solid and poised to reach the nextbig levels. Platinum, which was the first to find the bottom,will be the last to break out from resistance. Platinum a...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 are higher and near this week's multi-month highs in earlyU.S. trading Thursday. Traders and investors are scrambling to get on boardwith hard assets like the precious metals, on...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 a report by the World Gold Council (WGC), investor appetite for gold continued to diminish on sustained price declines in Aug and Sept as gold-ETFs saw net outflows of 25.5 tonnes or...Read More
Dr. Jacques Trottier reportsAMEX REPORTS 8.25 G/T GOLD OVER 44.80 METRES AND 1.22 G/T GOLD OVER 64.75 METRES FROM THE DENISE ZONE OF PERRONAmex Exploration Inc. has released results froma total of 36 drill holes focused on expansion and definition drilling of the Denise zone, part of the Eastern gold zone (EGZ), of the Perron project. Today's results are focused on near-surface and on-strike expan...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 price had an impressive break out after the U.S. CPI print yesterday. The good news for the bulls is that the resistance level broke off the back of some decent volume, which can be noted at t...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 has managed to keep some of its momentum going after the price rise during yesterday's U.S. session. The price is now hovering around $1854/oz at its highest level since 16th June. Silver is also...Read More