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) - Yesterday, Galiano Gold (TSX:GAU) (NYSE American: GAU) reported that in Q3 2021, gold production at theAsanko gold mine in Ghana was 49,543 ounces, virtually unchanged from 48,974ounces produced in Q3...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) - After failing at $1,800an ounce this week, Wall Street analysts are undecided on where gold is headednext, while Main Street remains bullish, according to Kitco's weekly gold price survey. After rallyi...Read More
(Reuters) -Oil prices jumped to a three-year high above $85 a barrel on Friday, on forecasts of a supply deficit over the next few months, spurred by rising demand due to the easing of travel restrictions.Brent crude futures were up 77 cents, or 0.9%, at $84.77 a barrel at 11:48 a.m. EST (1548 GMT). Front-month prices, which touched their highest since October 2018 at $85.10, were headed for a wee...Read More
Oct 15 (Reuters) - Amazon.com Inc-owned (AMZN.O) Twitch said on Friday that last week's data breach at the live streaming e-sports platform contained documents from its source code.Passwords, login credentials, full credit card numbers and bank details of users were not accessed or exposed in the breach, Twitch said in a statement.The platform, which is used by video gamers for interacting with...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) - Turquoise Hill Resourcesannounced Thursday that in Q3 2021, both copper and gold production from theopen pit at the Oyu Tolgoi mine in Mongolia were higher compared to Q3 2020 dueto higher copper and g...Read More
WASHINGTON, Oct 15 (Reuters) - Suspected ransomware payments totaling $590 million were made in the first six months of this year, more than the $416 million reported for the whole of 2020, U.S. authorities said on Friday, as Washington put the cryptocurrency industry on alert about its role in combating ransomware attacks.The U.S. Treasury Department said the average amount of reported ransomware...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) - Zijin Mining announced todaythat its subsidiary Serbia Zijin Mining Doo has obtained the permits for theuse of all mine facilities of the Upper Zone of the Timok copper and gold mineissued by the Minis...Read More
WASHINGTON (Reuters) - U.S. business inventory accumulation increased solidly in August, though motor vehicle retailers continued to struggle to restock amid an ongoing global semiconductor shortage, which is forcing automobile manufacturers to cut production.Business inventories rose 0.6% after a similar gain in July, the Commerce Department said on Friday. Inventories are a key component of gros...Read More
LISBON, Oct 15 (Reuters) - European Central Bank Governing Council member Mario Centeno reiterated on Friday that the monetary authority still considered the current preoccupying rise in inflation a temporary phenomenon based on all the analyses at its disposal. "The analysis is done with the information we have today, next month we will certainly have more information," he told an event in Lisbon...Read More
MILAN, Oct 15 (Reuters) - Italy's new ITA Airways aims to join an airlines alliance next year, the chairman of Alitalia's successor said on Friday.Alitalia, which operated its last flight on Thursday, was part of the SkyTeam alliance with Air France, KLM (AIRF.PA) and Delta (DAL.N). But ITA will have to negotiate a pact from scratch and could choose to team up with others, such as Lufthansa (L...Read More
WASHINGTON, Oct 15 (Reuters) - U.S. retail sales unexpectedly increased in September, but there are fears that supply constraints could disrupt the holiday shopping season amid continued shortages of motor vehicles and other goods.Retail sales rose 0.7% last month, the Commerce Department said on Friday. Data for August was revised higher to show retail sales increasing 0.9% instead of 0.7% as pre...Read More
MEXICO CITY, Oct 15 (Reuters) - President Andres Manuel Lopez Obrador will meet U.S. climate adviser John Kerry on Monday near Mexico's southern border with Guatemala, where the two men are expected to discuss a major tree planting program championed by the Mexican leader.Kerry will visit part of the reforestation project in the state of Tabasco, Lopez Obrador said on Friday. The Planting Life pro...Read More
LONDON, Oct 15 (Reuters) - Shares rose on Friday, buoyed by stellar corporate earnings results, but strong oil prices and stalling car sales in Europe were a reminder of headwinds for the world economy.The STOXX (.STOXX) index of 600 European shares was up 0.2% at three-week highs. Britain's FTSE 100 (.FSTE) also gained 0.2%, the UK blue-chip index having recovered all ground lost since the co...Read More
In this column last week, I mentioned the importance of asharp $30 intraday reversal which took place in the gold price on the last “booksquaring” trading session of Q3. Technically, this sudden move back above $1750 held the gold price inside thebullish symmetrical consolidation triangle that has been forming over the past14 months. Since thebeginning of Q4, the gold price has been bi...Read More
MILAN, Oct 15 (Reuters) - A former sub-contractor of Leonardo (LDOF.MI) did not sell components to Airbus (AIR.PA), the Italian defence group said on Friday.Shares of the Italian state-controlled conglomerate fell more than 7% on Thursday after Boeing (BA.N) said parts supplied by Leonardo sourced from the sub-contractor had been improperly manufactured.Leonardo said Manufacturing Processes S...Read More
Oct 15 (Reuters) - Goldman Sachs Group Inc (GS.N) reported a 66% surge in third-quarter earnings that swept past expectations on Friday, as Wall Street's biggest investment bank rode a record wave of M&A activity that has also boosted profit for other big U.S. banks.Net earnings applicable to common shareholders rose to $5.28 billion in the quarter ended Sept. 30, from $3.23 billion a year ago.E...Read More
WASHINGTON, Oct 15 (Reuters) - U.S. import prices rebounded in September, lifted by higher food and energy costs, but underlying imported inflation showed signs of moderating.Import prices rose 0.4% last month after falling 0.3% in August, the Labor Department said on Friday. In the 12 months through September, prices shot up 9.2% after advancing 8.9% in August. Economists polled by Reuters had fo...Read More
SINGAPORE/NEW YORK, Oct 15 (Reuters) - Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country's fuel security, several sources said.At least five Chinese firms, including state major Sinopec Corp and China National Offshore Oil Company (C...Read More
LONDON, Oct 15 (Reuters) - Britain's Queen Elizabeth said she was irritated by world leaders who talk about climate change but do nothing to address global warming, and added it was still unclear who would turn up at the COP26 climate summit in Glasgow.The queen's rare public foray into big power climate politics came as worries grew that Chinese President Xi Jinping, leader of the world's largest...Read More
BERLIN, Oct 15 (Reuters) - Leaders of Germany's centre-left Social Democrats (SPD) and two smaller parties will recommend moving into formal coalition talks and have agreed a road map for negotiations, the SPD's candidate for chancellor, Olaf Scholz, said on Friday.The Social Democrats, who came first in last month's election, the Greens and the business-friendly Free Democrats (FDP) said explorat...Read More