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 Wednesday. Bulls stepped in to buy Tuesday's dipsin the metals' prices, which is a sign of strong markets. Gold and silver as aninflation hedge...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
By David LawderWASHINGTON, Nov 16 (Reuters) - U.S. Treasury Secretary Janet Yellen on Tuesday extended a deadline for a potential U.S. government default to Dec. 15 from Dec. 3, giving Congress more time to raise the federal debt ceiling as lawmakers also consider a massive social spending and climate bill.Yellen said in a letter to congressional leaders that the adjustment was "based on our most...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 global silver market will see demand reach 1.29 billionounces this year, the first time it has breached 1 billion since 2015,according to the latest report from the Silver Institute.Wednesday, in it...Read More
GOLD/ SILVERWitha series of hot inflation readings overnight from the UK and the Euro zone, thestrengthening dollar has not prevented gold and silver from tracking higher inthe early action. However, along with rising inflation signals are concerns ofinterest rate increases, with the Bank of England and Bank of Canada possiblycloser to hiking rates than many other central banks. Going forward, the...Read More
(Kitco News) If stagflation is in the cards for next year, stocks could drop up to 50%, according to a simulation run by UBS.With inflation running hot globally and COVID-19 numbers still spiking across the globe, markets are starting to fear stagflation — a period described by high price pressures and slower economic growth.Latest inflation data out of the U.S. showed the consumer price ind...Read More
Mr. Rahul Paul reports RADISSON ANNOUNCES UPSIZE OF ITS PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $6 MILLIONDue to investor demand with its previously announced private placement, Radisson Mining Resources Inc. has entered into an agreement with Eight Capital, as lead agent and sole bookrunner, on behalf of a syndicate of agents, pursuant to which the corporation and the agents have agreed to upsi...Read More
Mr. Thomas Larsen reportsCHANNEL SAMPLING AT PORCO ADIT RETURNS 103M STRIKE LENGTH GRADING 521 AG EQ/T (INCLUDING 117 G AG/T, 1.44 G AU/T, 0.54% CU AND 0.66%SN) AT ISKA ISKA SILVER-TIN POLYMETALLIC PROJECT, POTOSI DEPARTMENT, BOLIVIAEloro Resources Ltd. has provided an update on its Iska Iska silver-tin polymetallic project in the Potosi department, southern Bolivia. To date, the Company has comp...Read More
ReutersFRANKFURT, Nov 17 (Reuters) - Euro zone inflation will remain higher for longer and the European Central Bank must be ready to rein it in if price growth proves to be more durable than policymakers now anticipate, ECB board member Isabel Schnabel said on Wednesday."This means avoiding the mistake of a premature tightening of monetary policy in response to a temporary and possibly short-live...Read More
ReutersNov 17 (Reuters) - Wall Street's main indexes opened flat on Wednesday as investors fretted over early rate hikes by the Federal Reserve after strong retail earnings and data showed an economic recovery was on track.The Dow Jones Industrial Average (.DJI) rose 17.48 points, or 0.05%, at the open to 36,159.70.The S&P 500 (.SPX) opened higher by 0.60 points, or 0.01%, at 4,701.50, while t...Read More
ReutersMUMBAI, Nov 17 (Reuters) - India is likely to bar the use of cryptocurrencies for transactions or making payments, but allow them to be held as assets like gold, shares or bonds, the Economic Times reported on Wednesday.Citing sources familiar with the government's thinking, the newspaper said this approach would avoid implementing a complete ban, though the government was keen to stop cryp...Read More
By Alun John and Vidya RanganathanHONG KONG/SINGAPORE, Nov 17 (Reuters) - Bitcoin and ether, the world's two largest cryptocurrencies, stayed weak on Wednesday and near critical levels that analysts believe could spell further weakness if breached.Bitcoin last traded around $60,665, up 0.9% on the day. It was off the day's low of $58,400 but is down about 12% from the record high of $69,000 set on...Read More
By Jeffrey GoldfarbMELBOURNE, Nov 17 (Reuters Breakingviews) - The California Gold Rush had its hydropower phase, and cryptocurrency could be entering one too. Bitcoin miner Iris Energy (IREN.O) relies mainly on renewables, especially water, for its electricity-sucking operations. This somewhat novel twist might help underpin its initial public offering valuation, but the climate-saving hype feels...Read More
Dr. Michael Gunning reportsVR REPORTS 299 METRE INTERSECTION OF CRITICAL METALS AND REE'S IN THE FIRST OF FIVE DRILLS HOLES COMPLETED IN OCTOBER AT HECLA-KILMERVR Resources Ltd. has provided new data from the first of five holes completed in October at its Hecla-Kilmer (H-K) project in Northern Ontario. A 299-metre intersection in drill hole HK21-005, starting near surface, confirms the discovery...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 arehigherin early U.S. trading Wednesday after hitting a three-week low overnight. A priceuptrend in place on the daily bar chartis in jeopardy and the bulls need to show m...Read More
Nov 17 (Reuters) - The New York Federal Reserve took unprecedented action to stabilize the Treasury market after it was disrupted at the start of the pandemic, offering a stark reminder that markets need to be strengthened to prepare for the next big shock, New York Fed Bank President John Williams said on Wednesday."Severe disruptions to critical financial markets like we saw last spring sho...Read More
* Gold faces strong resistance around $1,870s - analysts* UK inflation leaps to 10-year highNov 17 (Reuters) - Gold prices gained on Wednesday as inflation worries boosted demand for the safe-haven metal, even as the U.S. dollar held near multi-month highs on rising bets of an early hike in interest rates in the United States.Spot gold rose 0.7% to $1,862.56 per ounce by 1316 GMT. U.S. gold future...Read More
Mr. Marcel Robillard reportsPUMA EXTENDS MINERALISED ZONE WITH HIGH-GRADE SAMPLES UP TO 46,8 G/T AU, INCREASING GOLD POTENTIAL AT THE WILLIAMS BROOK GOLD PROPERTYPuma Exploration Inc. has discovered nine new gold-bearing quartz veins along the O'Neil gold trend (OGT) and reports surface samples grading up to 46.8 grams per tonne gold, extending the gold mineralized corridor over a continuous dist...Read More
LONDON, Nov 17 (Reuters) - British inflation has hit a 10-year high as household energy bills rocket, bolstering expectations the Bank of England will raise interest rates in December just weeks after it rocked markets by keeping borrowing costs on hold.Consumer prices rose by 4.2% in annual terms in October, leaping from a 3.1% increase in September, the Office for National Statistics said on Wed...Read More
OTTAWA, Nov 17 (Reuters) - Canada's annual inflation rate accelerated to 4.7% in October, the highest since February 2003, and up from a year-over-year pace of 4.4% in September, Statistics Canada said on Wednesday.Analysts polled by Reuters had expected the annual rate to rise to 4.7%. October marked the seventh consecutive month in which headline inflation topped the Bank of Canada's 1-3% target...Read More