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) - Agnico Eagle Mines (NYSE:AEM) (TSX: AEM) today announced record exploration spending in 2021, targetinggrowth of the company's mineral reserves and mineral resources at year-end 2021from a record level...Read More
NEW YORK, Nov 2 (Reuters) - Global equity shares scaled a new peak on Tuesday, lifted by rising stocks on Wall Street, and the dollar strengthened as strong earnings drove sentiment while investors await details on the Federal Reserve's decision to taper its massive stimulus.The S&P 500 and Nasdaq stock indexes hit fresh record highs helped by a slew of robust earnings updates, while the STOXX 600...Read More
* Climate Finance Partnership passes $500 mln target* France, Germany, Japan all invest in novel fund* EM investment a key issue at COP26 climate talks (Adds comments by BlackRock CEO Larry Fink in Glasgow)GLASGOW/BOSTON, Nov 2 (Reuters) - BlackRock Inc told Reuters it has raised a target-beating $673 million for an infrastructure fund with backing from the French, German and Japanese governments...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 Mountain Mining (TSXV:GMTN)announced Tuesday that the Ministry of Energy, Mines & Low CarbonInnovation Communications Office hasawarded the company its M-199 Mining Permit for the Elk Gold proje...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) - Harmony Gold Mining todayreported that an employee was fatally injured on Sunday afternoon, following ashaft-related incident, at its Doornkop mine, near Soweto in the Gautengprovince of South Africa."...Read More
WASHINGTON, Nov 2 (Reuters) - The Federal Aviation Administration said Tuesday it had issued a special information bulletin alerting manufacturers, operators and pilots that action may be needed to address potential interference with sensitive aircraft electronics caused by new 5G telecommunications technology.The FAA has been in discussion with the Federal Communications Commissions about its air...Read More
WASHINGTON, Nov 2 (Reuters) - U.S. Treasury Secretary Janet Yellen will urge financial institutions to adopt a "greater sense of urgency" about investing in net-zero economy in meetings with the head of Bank of America and other finance CEOs on Tuesday, Treasury officials said.John Morton, a former private equity adviser and Treasury's first climate counselor, told reporters that Yellen would expl...Read More
The oversold bounce in the gold stocks has runinto initial resistance while Gold is trading around resistance around $1800.The question is if this rebound can extend ifit will pause or, will the sector start giving back some of the gains?First, let's look at recent price action andthe current setup.We plot Gold, GDX, HUI, and GDXJ along withtheir 200-day moving averages below.Since the start of th...Read More
By Marco AquinoLIMA, Nov 2 (Reuters) - A wave of protests against Peru'skey mining sector is affecting the "country's perception interms of future investments," central bank president JulioVelarde said on Tuesday.Peru, the world's No. 2 copper producer, has seendemonstrators in recent weeks block roads in protests againstmines owned by Glencore , BHP Billiton and MMGLtd.Peru's largest co...Read More
(Reuters) - The S&P 500 and the Nasdaq indexes hit record highs on Tuesday, helped by a slew of strong earnings reports, although gains were limited as investors remained cautious ahead of the Federal Reserve's widely expected move to start tapering its monthly bond purchases.Shares of Under Armour Inc jumped 17.3% after the athletic apparel maker raised its annual revenue and profit forecasts.Sim...Read More
WASHINGTON, Nov 2 (Reuters) - Tesla Inc is recalling nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the emergency brakes, the National Highway Traffic Safety Administration (NHTSA) said Tuesday.The California automaker said the recall of 11,704 Model S, X, 3 and Y vehicles was prompted after a soft...Read More
Nov 2 (Reuters) - A cryptocurrency named after the wildly popular Netflix drama "Squid Game" crashed to almost zero value on Tuesday after a dizzying rally pushed it to almost $2,800 last week.The so-called squid token's market value jumped to $2.4 billion at the peak of Monday's trading with a trading volume of $14 million over the last 24 hours, according to CoinMarketCap. The reason for squid's...Read More
GLASGOW, Nov 1 (Reuters) - Denmark, the United States and 12 other countries on Monday backed a goal to reduce emissions by the global maritime sector to zero by 2050, a target to be fleshed out in negotiations at the United Nations shipping agency.The initiative, led by Denmark and announced on the sidelines of the U.N. COP26 climate summit in Glasgow, Scotland, aims to build support among coun...Read More
(Reuters) - Autonomous delivery vehicle maker Nuro raised $600 million in its latest funding round, the Silicon Valley-based startup said on Tuesday, bringing on board Alphabet Inc's Google as an investor.The funding round, led by Tiger Global Management, lifted Nuro's valuation to $8.6 billion from $5 billion previously, according to a person close to the deal.Toyota Motor Corp's Woven Capital, S...Read More
(Updates prices)* Fed policy statement due Wednesday* Dollar steady against rivals* Silver and platinum fall over 1%Nov 2 (Reuters) - Gold prices were subdued on Tuesday ahead of a crucial U.S. Federal Reserve meeting that could offer cues on future interest rate hikes amid rising inflationary pressures.Spot gold dipped 0.1% to $1,790.55 per ounce by 1314 GMT. U.S. gold futures for December delive...Read More
SHANGHAI (Reuters) - Chinese stock market investors are swapping big tech names for "small giants" and luxury brands for mass market companies, aiming to cash in on President Xi Jinping's "common prosperity" plan for the economy.The intent behind Xi's drive is a narrower gap between the rich and poor in the world's second largest economy.But the first policy moves rattled markets as authorities in...Read More
LONDON (Reuters) - The end of Britain's furlough programme has not led to a surge in new job-seekers, according to data that suggests unemployment is unlikely to rise sharply and could bolster the case for a Bank of England interest rate hike.Research by recruitment website Indeed, seen by Reuters ahead of publication, shows only a small increase in the proportion of British workers who say they a...Read More
NEW YORK, Nov 2 (Reuters) - Wall Street banks are intensifying preparations for the Federal Reserve’s withdrawal of pandemic stimulus to ensure they are able to handle spikes in market volatility, help clients manage their risks -- and score a profit.With the Fed expected to formally announce on Wednesday that it will begin tapering its monthly bond purchases, sales and trading teams are hea...Read More
LONDON (Reuters) - Euro zone manufacturing activity remained strong last month but was curtailed by supply chain bottlenecks and logistical problems which sent input costs soaring, a survey showed on Tuesday.Ongoing disruptions caused by the coronavirus pandemic, alongside a shortage of heavy goods vehicle drivers, has caused product shortages and left factories struggling to get the raw materials...Read More
Monday was like the previouscouple of weeks for gold and silver; they made a charge to breakout to theupside but failed. Platinum did the same and the $40.00 rally only reached thetop of the range. The pattern is the key, and it remains the same as a bridgeto nowhere. This morning, gold, silver andplatinum are flat to slightly lower. Our expectations have not changed, we arelong, and the trend is...Read More