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) - Russian mining companyPolymetal, a top-10 global gold and silver producer, reported today that its Q32021 gold equivalent production decreased by 8% y-o-y to 437 Koz as resultsreverted to the mean from...Read More
LAS VEGAS, Oct 26 (Reuters) - A top U.S. bank regulator said U.S. officials are looking to provide a clearer path for banks and their clients that are looking to hold cryptocurrencies, in order to keep control over the fast-developing asset.Jelena McWilliams, who chairs the Federal Deposit Insurance Corporation, told Reuters in an interview on Monday that a team of U.S. bank regulators is trying t...Read More
Mr. Ian Klassen reports GRANDE PORTAGE RESOURCES ANNOUNCES COMPLETION OF ITS 2021 DRILL PROGRAM AT THE HERBERT GOLD PROJECT IN SE ALASKAGrande Portage Resources Ltd. has completed its two-rig drill program at the Herbert gold project in southeast Alaska. The company completed 19 holes and approximately 8,150 metres of drill core which included both stepout and infill holes, effectively expanding 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) - Although Bitcoin remains an attractive momentum play with pricestrading just off last week's all-time highs, gold investors shouldn't see the digitalcurrency as competition, according to one precious m...Read More
BEIJING (Reuters) - T3, a Chinese ride-hailing company backed by state-owned automakers FAW, Dongfeng and Changan said on Tuesday that it had raised 7.7 billion yuan ($1.2 billion) to fund expansion.T3's funding round comes as ride-hailing companies step up efforts to take market share from China's ride hailing market leader Didi Global Inc which is facing a cybersecurity investigation by Chinese...Read More
Oct 26 (Reuters) - Chile's Codelco, the world's largestcopper miner, has offered to supply copper to a South Koreancustomer at a premium of $100 a tonne in 2022, two sources withdirect knowledge of the matter said, a 20% rise from this year.The higher rates, paid on top of the London Metal Exchangebenchmark copper price , underscore anticipated strongdemand for the metal as the global economy cont...Read More
WASHINGTON/BANDAR SERI BEGAWAN, Oct 26 (Reuters) - U.S. President Joe Biden joined Southeast Asian leaders for a virtual summit on Tuesday, the first time in four years that Washington has engaged at the top level with a bloc seen as key to countering an increasingly assertive China.The United States had not met with the Association of Southeast Asian Nations at the presidential level since Biden'...Read More
(Reuters) -United Parcel Service Inc reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery giant to raise shipping prices and cherry-pick more profitable customers.The Atlanta-based firm also raised its full-year adjusted operating margin outlook to about 13% from about 12.7%, a month after rival FedEx Corp cut...Read More
(Kitco News) Gold was trading down 1% on the day as the U.S. new home sales beat expectations in September with an advance of 14%. The prior month's number was revised down. New home sales were at a seasonally adjusted annualized rate of 800,000 homes in September, the U.S. Commerce Department said on Tuesday. August's sales were revised down to a rate of 702,000 units.The market consensus calle...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 prices continue to struggle to find new bullish momentum, falling further below $1,800 an ounce as optimism among U.S. consumers rises higher than expected in October.Tuesday, the U.S. Conference B...Read More
ATHENS, Oct 26 (Reuters) - Macquarie Asset Management is in for the long haul with its planned investment in Greek power grid operator HEDNO, a senior executive at the investment manager told Reuters, pointing to the opportunity presented by the electrification of the Greek economy.Public Power Corp (PPC), Greece's biggest power utility, said last week it had agreed to sell 49% of fully-owned powe...Read More
BOGOTA, Oct 26 (Reuters) - AngloGold Ashanti Ltd's Quebradona copper project in Colombia will be delayed by theshelving of an environmental permissioning process, a companyspokesperson said on Tuesday.Colombia's environmental licensing authority announced thedecision to shelve the request - rather than accept or reject it- on Monday. The company needs to be officially notified of a decision soit c...Read More
Oct 26 (Reuters) - With oil and gas prices at multi-year highs, U.S. shale producers are poised to deliver the strongest earnings since the onset of the coronavirus pandemic, so long as they didn't lock in sales tied to much lower prices.Sky-high oil and gas prices will fill energy companies' bottom line, rewarding investors who hung on through the pandemic. U.S. crude averaged roughly $71 a barre...Read More
BEIJING, Oct 26 (Reuters) - Debt-laden real estate developer China Evergrande Group (3333.HK) has resumed construction on 40 projects in the Pearl River Delta region and expects to deliver 32 of them on time by the end of 2021, local media reported on Tuesday.Evergrande did not immediately respond to a request for comment on the reports in various media, including the Southern Metropolis Daily n...Read More
Mr. Eric Fier reportsSILVERCREST LAS CHISPAS PROJECT CONSTRUCTION REMAINS ON SCHEDULE AND BUDGETSilvercrest Metals Inc. has provided an update on construction activities at the company's Las Chispas project, located in Sonora, Mexico. All currency amounts herein are presented in United States Dollars, unless otherwise stated. Highlights Construction Remains on Schedule {ౢ –} At...Read More
Monday wasa solid day of gains for gold, silver, and platinum; however, none reachedtheir key resistance levels. The patterns are setting up nicely and we wouldconsider step one completed. For therally to continue, we must reach the levels of resistance, which are $25 forsilver, $1,820 for gold based on December futures. For January platinum,resistance is at $1080. Obviously, that means they are h...Read More
By Mark JohnLONDON, Oct 26 (Reuters) - Australian mining billionaireAndrew Forrest called ahead of next week's COP26 climate talksfor governments to ensure massive existing subsidies for fossilfuels did not undermine the drive for clean alternatives such asgreen hydrogen.Forrest, whose Fortescue Metals Group aims tobecome carbon-neutral by 2030, has been travelling the world topromote green hydrog...Read More
LONDON, Oct 26 (Reuters) - Sterling touched a new 20-month high against the euro on Tuesday, driven by diverging interest rate expectations for Britain and the euro zone, though concerns over economic growth and EU ties kept the currency broadly flat on the day.Money markets are pricing in a rate hike by the Bank of England at its Nov. 4 meeting, helping the pound rally around 2% versus the euro a...Read More
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* STOXX 600 hits 7-week high* Reckitt soars on forecast lift* Logitech slides after results (Adds comment, updates prices)Oct 26 (Reuters) - European stocks hit seven-week highs on Tuesday, as strong results from UBS, Reckitt Benckiser and others added to overall optimism about the third-qua...Read More
BEIJING, Oct 26 (Reuters) - China's state planner and foreign exchange regulator met with companies in key sectors on Tuesday over their foreign debt holdings, the National Development and Reform Commission (NDRC) said amid ongoing investor concerns over the debt of property developers including China Evergrande Group.The regulators asked the unnamed companies to optimise their foreign debt struct...Read More