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) - Osisko Development today announcedthe approval of amendments to Mines Act Permits M-238 and M-198 allowing forthe expansion of the existing Bonanza Ledge II underground mine, located inBritish Columbia...Read More
(Reuters) - U.S. holiday sales could rise over 10% from last year in 2021, a trade body said on Wednesday, as major consumer goods makers and retailers work to prevent supply chain disruptions from leaving shelves empty of in-demand toys and games.The National Retail Federation (NRF) forecast sales to increase between 8.5% and 10.5%, to between $843.4 billion and $859 billion, during November and...Read More
KINSHASA, Oct 27 (Reuters) - The International Monetary Fund on Wednesday revised upward this year's economic growth forecast for the Democratic Republic of Congo to 5.4% due largely to higher-than-expected mining production.The IMF said in statement that it had also reached a staff-level agreement with Congo's government on the first review of a three-year $1.5 billion extended credit facility th...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) - A new partnership between theU.S. Geological Survey (USGS), the science agency for the U.S. Department ofthe Interior, and Rio Tinto, a leading mining and metals company, was announcedtoday. According...Read More
(Kitco News) - Rahul Paul, CEO of Radisson Mining Resources, discusses withDavid Lin, anchor for Kitco News, the outlook for the gold sector. According to Paul, the precious metal is well positioned formore upside."The U.S. inflation rate is the highest we've seen in13 years. Typically, the Fed would hike interest rates to keep inflation undercontrol but U.S. government debt is at a record high 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) - Fresnillo announced Wednesdayits Q3 2021 attributable silver production of 12.7 moz (includingSilverstream), which was down 15.1% over Q2 2021 mainly driven by theanticipated lower ore grade at San Jul...Read More
WASHINGTON (Reuters) - New orders for U.S.-made capital goods increased more than expected in September and shipments surged, pointing to strong business spending on equipment, though stretched supply chains likely hampered overall economic growth in the third quarter.Slower growth expectations were reinforced by other data from the Commerce Department on Wednesday showing the goods trade deficit...Read More
(Reuters) -CME Group Inc said on Wednesday its third-quarter profit more than doubled as trading in the futures exchange operators' interest rate and energy products surged, while the approval of exchange-traded funds (ETF) tied to CME bitcoin futures also lifted volumes.Average daily volume at CME rose 14% from a year earlier to 17.8 million contracts, mainly driven by double-digit growth in inte...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 their daily highs at midday Wednesday, supported by a weaker U.S. dollar index and falling U.S. Treasury yields on this day. Trading was choppy and on both side...Read More
BRUSSELS, Oct 27 (Reuters) - Global bottlenecks are a result of a huge demand spike rather than fundamental problems in the supply chain, the WTO's chief economist said on Wednesday, in an opinion supporting the view of central banks that this is a transitory phenomenon.G20 leaders are expected to discuss supply chain bottlenecks and apparent shortages when they meet in Italy this week, but Robert...Read More
Oct 27 (Reuters) - Uber Technologies Inc (UBER.N) on Wednesday said it is launching a new partnership with rental car company Hertz to offer 50,000 Tesla Inc (TSLA.O) vehicles as a rental option for its ride-hail drivers by 2023.Uber drivers can rent a Tesla through Hertz starting on Nov. 1 in Los Angeles, San Francisco, San Diego and Washington DC, with the program later this year expanding...Read More
WASHINGTON, Oct 27 (Reuters) - Top advisers to U.S. President Joe Biden and Turkish President Tayyip Erdogan spoke on Wednesday about defense issues and how to resolve disagreements, the White House said, days after Turkey's leader threatened to expel U.S. and other ambassadors.Erdogan over the weekend ordered 10 envoys to be declared "persona non grata" for seeking the release of jailed philanthr...Read More
WASHINGTON (Reuters) - Some U.S. Senate Democrats on Wednesday proposed taxing billionaires’ unrealized gains from their assets to help finance President Joe Biden’s social-policy and climate-change agenda, according to the top Senate Democrat for tax policy.The billionaires tax, announced by Senate Finance Committee Chairman Ron Wyden, is part of a two-pronged legislative strategy tha...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) - Equinox Gold (TSX: EQX) todayannounced groundbreaking for full-scale construction at the Greenstone gold mine,located in Ontario, Canada, that will be held today from 2pm to 4pm EDT at themine site.The...Read More
(Kitco News) The Federal Reserve has kept its monetary policy "inappropriately" too easy for too long, triggering inflation. And now the central bank could be forced to tighten aggressively, said Danielle DiMartino Booth, CEO of Quill Intelligence."Quantitative easing is a failed experiment," Booth told Michelle Makori, editor-in-chief of Kitco News. "We have much more going on here than supply...Read More
Not much has changed withgold, silver and platinum. They are all in uptrends and are ready to run. Yes,they had a rough Tuesday and are lower this morning; however, the overallpattern has not changed. There is no question that they could reverse to shortagain and will at some point. Unfortunately, traders andinvestors want instant gratification and have no understanding of how marketswork. The min...Read More
Mr. John Williamson reportsBENCHMARK DRILLS 30 METRES OF 2.81 G/T GOLD EQUIVALENT AND DELINEATES 400 METRES STRIKE-LENGTH OF MINERALIZATION IN NEW ZONEBenchmark Metals Inc. has released new results from exploration drilling at the Marmot zone, including 30 metres (m) core length of 1.93 grams per tonne (g/t) gold and 70.33 g/t silver or 2.81 g/t gold equivalent* (AuEq) in drill hole 21MLDD004. The...Read More
Oct 27 (Reuters) - Defense contractor General Dynamics Corp (GD.N) posted a 3% rise in third-quarter profit on Wednesday, boosted by higher sales in the unit that makes U.S. Navy ships and its aerospace division, which makes Gulfstream business jets, but trimmed its annual revenue target by $400 million."This quarter revenues decrease will impact the year, and we now expect revenue to be around...Read More
STOCKHOLM, Oct 27 (Reuters) - Spotify Technology SA (SPOT.N) beat Wall Street estimates for third-quarter revenue as more paid subscribers signed up for its premium service and advertisers lined up to air ads in between music and podcasts.Premium subscribers, which account for most of the company's revenue, hit 172 million, just beating analysts' expectations of 171.7 million.Total monthly activ...Read More
By Dmitry Zhdannikov and Clara DeninaLONDON, Oct 27 (Reuters) - For investors seeking to burnishsustainable portfolios, coal mines are an anathema.That sits well with top global miner and trader Glencore , whose purchase of a major coal mine in Colombia willgenerate a bonus of hundreds of millions of dollars before thedeal has even been completed.The miner bought the 66% shares in the Cerrejon the...Read More