LONDON, Oct 15 (Reuters) - A COVID-19 testing laboratory in central England has been suspended over concern that it has been incorrectly giving negative PCR test results to people who are infected, the UK Health Security Agency (UKHSA) said on Friday.NHS Test and Trace launched an investigation into a lab in Wolverhampton after reports of people getting negative PCR test results after testing posi...Read More
OTTAWA, Oct 15 (Reuters) - Canadian Prime Minister Justin Trudeau said on Friday he would reshuffle his cabinet on Oct. 26 and ensure there was a gender balance, even though he lost female ministers in an election last month.Trudeau was re-elected to a third term in office on Sept. 20 but only won a minority of seats, which means he needs to cooperate with opposition legislators to govern."The new...Read More
TOKYO, Oct 15 (Reuters) - Japan's new prime minister Fumio Kishida on Friday told reporters he had spoken with South Korean President Moon Jae-in urging an "appropriate" response on disputes including compensation for forced wartime labour.Moon said he told Kishida in their first phone conversation that it was important to resolve wartime issues in a way that doesn't cause diplomatic friction, Sou...Read More
LONDON/HONG KONG, Oct 15 (Reuters) - Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident that U.S. regulators would approve the launch of an exchange-traded fund (ETF) based on its futures contracts.Cryptocurrency investors have been waiting for approval of the first U.S. ETF for bitcoin, whose recent rally has been fuelled in part...Read More
SHANGHAI, Oct 15 (Reuters) - China's securities regulator said on Friday it will allow qualified foreign institutions to trade more types of onshore derivatives.Starting Nov. 1, investors under the Qualified Foreign Institutional Investor (QFII) scheme will be allowed to trade commodity futures, commodity options and stock index options, the China Securities Regulatory Commission (CSRC) said.Expan...Read More
* Dismissed central bankers seen as opposed to latest rate cut* Central bank survey shows 140 bps of rate cuts expected in 3 months* Central bank policy meeting Thursday next week* Lira has weakened 19% this year vs dollar (Updates with fresh record low vs euro)ISTANBUL, Oct 15 (Reuters) - Turkey's lira touched new lows against the dollar and euro on Friday, hamstrung by worries over more interest...Read More
LONDON (Reuters) - The Japanese yen skidded to a three-year low on Friday and was set for its worst week since March 2020, while the dollar headed for its first weekly decline versus major peers since the start of last month as global risk appetite rebounded.In cryptocurrency markets, the price of bitcoin topped $60,000 for the first time in six months and was not far from its record high on bets...Read More
BEIJING (Reuters) - Liquidity in China's banking system will be basically balanced in the fourth quarter, with no big fluctuations, a central bank official said on Friday.The People's Bank of China (PBOC) will stick to normal monetary policy, which will be flexible, targeted and appropriate, Sun Guofeng, head of the central bank's monetary policy department, told a briefing.The PBOC will use vario...Read More
(Kitco News) The gold market is trading near daily lows as the New York manufacturing sector sees a slower-than-expected recovery, according to the latest data from the New York Federal Reserve.The regional central bank said its Empire State manufacturing survey's general business conditions index fell 15 basis points to 19.8 in October. The data disappointed as consensus forecasts were calling fo...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 pricesare sharply lower in early U.S. trading Friday and extended early lossesfollowing a very upbeat U.S. retail sales report that falls squarely into thecamp of the U.S. monetary policy hawks,...Read More
(Reuters) -Okada Manila, a Philippines-based casino resort, has agreed to go public in the United States through a merger with blank-check firm 26 Capital Acquisition Corp in a deal valued at $2.5 billion.The deal, announced on Friday, is expected to provide Okada Manila with up to $275 million in cash proceeds. The casino operator intends to use the funds for growth and other corporate purposes.O...Read More
* Central bank makes rare comments on Evergrande debt situation* PBOC: financial firms don't have concentrated Evergrande risk* Xinyuan Real Estate agrees to exchange offer with bondholders* Developer bonds deepen rout, shares edge lowerSHANGHAI, Oct 15 (Reuters) - The spillover effect of China Evergrande Group's debt problems on the banking system is controllable, a central bank official said on...Read More
NEW YORK, Oct 15 (Reuters) - Sluggish U.S. biotech shares could require a wave of deal-making or exciting clinical trial results if the sector wants to join the stock market's party after lagging Wall Street's broad advance this year.More certainty about the direction of prescription drug regulation, including the prospects for tougher pricing legislation, also could bolster the stocks.An index of...Read More
(Kitco News) Gold prices dropped to fresh daily lows following better-than-expected retail sales data from September.U.S. retail sales rose 0.7% last month following an upwardly revised increase of 0.9% in August, according to the latest data from the U.S. Commerce Department. Economists were expecting to see a decrease of 0.2% in last month's headline number.Core sales, which strip out vehicle sa...Read More
Oct 15 (Reuters) - Close to half a million low-income homeowners in the United States, many of them minorities, are nearing the end of mortgage forbearance plans that allowed them to halt loan payments during the pandemic, presenting a test for the mortgage service firms tasked with helping struggling borrowers move onto payment plans they can afford.The number of borrowers exiting the plans is ex...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) - Bitcoin-U.S. dollarare solidlyhigher and hit a seven-month high Friday. The Bitcoin bulls have the solidoverall near-term technical advantage and gained more power today, to suggestat least sideways-to...Read More
(Kitco News) - The uranium market has arguably the best fundamentals in thecommodity space right now, or any assetclass, said Mart Wolbert, founder and writer of the Contrarian Codexnewsletter. "I would argue that uranium has the best fundamentalsunderpinnings of any investment asset class in the current market, even afterthis big run-up," Wolbert told David Lin, anchor for Kitco News. "Iwould...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) - In the European session gold has met some selling pressure at the$1800/oz resistance zone. In recent sessions, the precious metal has enjoyed agood run especially post FOMC. The risk environment has be...Read More
Mr. David Wolfin reportsAVINO ANNOUNCES Q3 2021 PRODUCTION RESULTSProduction of 285,464 silver equivalent ounces,* consisting of 77,935 ounces of silver, 1,183 ounces of gold and 685,535 pounds of copper, was achieved in the third quarter 2021 from Avino Silver & Gold Mines Ltd.'s Avino mine property near Durango, Mexico. "We are very pleased to announce our third quarter production results wh...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) - Figures from The Perth Mint show Demand for Australian bullion products surged in September. Sales of gold coins and bars are at their highest levels in five months and sales of silver coins and b...Read More