Ask a gold bull why Gold hasn't performed wellover the past 15 months, and you might hear the words manipulation,suppression, or Bitcoin in the response. You won't hear that Gold gained nearly 80% intwo years and was historically overbought.Last but not least, you won't hear about thefundamental changes that have driven capital outflows from Gold and Silver, aswell as bonds and into stocks and com...Read More
Editor's Note: The following is an exclusive article by Sean Fieler, the president and CIO of Equinox PartnersFor most investors, finding inefficientlypriced securities is a clear opportunity for profit, but one our age ofinformation does not typically provide. However, in some overlooked markets,these value plays are still prevalent. One such sector is the junior goldmining space.For most miners,...Read More
FRANKFURT, Oct 19 (Reuters) - German exchange operator Deutsche Boerse (DB1Gn.DE) said on Tuesday it posted a 32% rise in third-quarter net profit, a better result than analysts had expected, and it confirmed its guidance for the year.Net profit attributable to shareholders was 300.3 million euros ($349.31 million), up from 227.1 million euros a year ago, the company said. Analysts had expected...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) - Based on quarterly productionresults, Kitco estimates that in Q2 2021, gold production in Canada was 1,570koz, 34% higher compared to 1,174 koz produced in Q2 2020.Jointly owned by Yamana Goldand Agnic...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday she welcomed a revised proposal from congressional Democrats to raise a bank account tax reporting threshold to $10,000 in annual transactions from a proposed $600 level, with an exemption for wage earners.The change was made after major opposition from banking and other lobbying groups who charged that initial p...Read More
Oct 19 (Reuters) - Credit Suisse (CSGN.S) has agreed to pay nearly $475 million to U.S. and UK authorities to resolve charges in connection with Mozambican bond offerings, the U.S. Securities and Exchange Commission said on Tuesday.Reporting by Kanishka Singh in Bengaluru Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The a...Read More
BRASILIA, Oct 19 (Reuters) - Brazil's central bank on Tuesday made its first intervention in the spot currency market since March, pulling the real back from the brink of a six-month low due to fresh concerns about looser government spending ahead of next year's election.The government is preparing an expanded welfare program next year, a person with knowledge of the plans told Reuters, with part...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 market continues to tread water below $1,800, butcommodity analysts at TD Securities are not ready to give up on the preciousmetal as they see rising stagflation effects.In a report published...Read More
(Reuters) - The obstacles making it difficult for many women to work, combined with an increase in retirements, could hinder the labor market recovery and be a drag on the U.S. economy, Federal Reserve Governor Michelle Bowman said on Tuesday.Women with young children left the labor force at a higher rate than other workers and some are still struggling to find childcare they can afford, Bowman sa...Read More
WASHINGTON (Reuters) -A top Democrat in the U.S. House of Representatives on Tuesday said he would support allowing the U.S. Treasury secretary to unilaterally extend the limit on federal borrowing, with Congress then empowered to vote on vetoing such decisions."It's a good option," House Majority Leader Steny Hoyer told reporters in a weekly press conference. He said the Treasury secretary should...Read More
Oct 19 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday reported lower-than- expected quarterly revenue after sales of its COVID-19 vaccine missed Wall Street estimates following a string of production setbacks.The New Brunswick, New Jersey-based company maintained its 2021 sales goal of $2.5 billion from the vaccine, and said it recorded $766 million in sales of the shot in the first nine month...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) - Centamin (TSX: CEE) reportedtoday that its Q3 2021 gold production in Egypt of 103,546 ounces was 19% lowerthan in Q3 2020 but slightly ahead of 2021 schedule. The company also reportedthat revenue gen...Read More
Precious metal miner Hochschild Mining (LSE: HOC) is demerging to create a stand-alone business focused on rare earths, Aclara Resources. Aclara is a development-stage rare earth mineral resources company with a land package of mineral concessions in Chile, according to a press release from Hochschild. It's Penco Module covers a surface area of approximately 600 hectares and contains ionic clays t...Read More
NEW YORK/LONDON, Oct 19 (Reuters) - The first U.S. bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high and within striking distance of its all-time peak, as traders bet theETF could boost investment flows into cryptocurrencies.The ProShares Bitcoin Strategy ETF began trading on Intercontinental Exchange Inc's (ICE.N) NYSE Arca on Tuesday under...Read More
BEAUMONT, Texas, Oct 19 (Reuters) - The U.S. National Labor Relations Board is expected to schedule a mid-November vote on removing the United Steelworkers union from Exxon Mobil's (XOM.N) Beaumont, Texas, refinery, a person familiar with the matter said on Tuesday.Exxon locked out union members on May 1 after it and the USW were unable to agree on a new, six-year labor contract for the refinery...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) - Vital Metals (ASX: VML), thefirst rare earths producer in Canada and only the second in North America,announced Tuesday that it has signed a non-binding Memorandum of Understanding("MOU") with rare ear...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) - Jervois Global (TSX-V: JRV) todayannounced that underground construction of its 100%-owned Idaho CobaltOperations ("ICO") in the state of Idaho, United States, has commenced."This historic step marks t...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. labor shortages may outlast the coronavirus pandemic and limit overall economic growth unless the country comes up with better education, health and childcare policies to boost the number of people willing and able to work, Richmond Federal Reserve President Thomas Barkin said on Tuesday."As our workforce ages and birthrates decline, we could find workforce avai...Read More
Oct 19 (Reuters) - Chinese President Xi Jinping is facing resistance over a nationwide property tax aimed at curbing housing speculation, the Wall Street Journal reported on Tuesday, citing people with knowledge of government deliberations.Earlier this year, Xi assigned to Han Zheng, the most senior of China's four vice premiers, the task of rolling out the levy much more widely, according to the...Read More
MOSCOW, Oct 19 (Reuters) - Russia said on Tuesday it would this month seek to fine U.S. tech giant Google a percentage of its annual Russian turnover for repeatedly failing to delete content deemed illegal, Moscow's strongest effort yet to rein in foreign tech firms.Communications regulator Roskomnadzor said Google had failed to pay 32.5 million roubles ($458,100) in penalties levied so far this y...Read More