Gold pricing continues to be affected by rising yields inU.S. 10-year Treasury notes. Market sentiment continues to be under theassumption that as early as mid-November the Federal Reserve will begin totaper their asset purchases of $120 billion monthly. The most recent news isthe pace at which they will taper. According to the statement released lastweek of the last FOMC meeting, they plan to red...Read More
Oct 18 (Reuters) - Apple Inc (AAPL.O) on Monday announced two new MacBook Pro models that run on more powerful in-house chips, furthering its break from previous supplier Intel Corp (INTC.O) and showing its strategy for setting its machines apart from the rest of the PC industry.The new 14-inch and 16-inch models start at $1,999 and range up to $6,099 in their most expensive variations. Using...Read More
LONDON (Reuters) - As Europe's third quarter reporting season kicks into gear, investors are scrutinising company results for any signs that supply chain strains, labour shortages and surging energy prices are starting to undermine profits.Confidence in Europe's earnings resilience has helped the continent's bourses recover from a wobble in September with the latest Refinitiv I/B/E/S data showing...Read More
Maverix Increases and Expands Royalty Interest at OmolonCanada NewsWireVANCOUVER, BC, Oct. 18, 2021Read More
AMSTERDAM, Oct 18 (Reuters) - Dutch health technology company Philips (PHG.AS) on Monday cut its outlook for sales and profit growth this year and said the global supply chain problems that added to its growing list of worries in the third quarter would likely intensify.Amsterdam-based Philips said comparable sales dropped 7.6% in the July-September period to 4.2 billion euros ($4.9 billion) as...Read More
On a higher timeframe basis: We held exhaustion below at$29,075-6,905 with a $28,800 low and bounced $34,725. I warned that holding theexhaustion area and settling back above the $30,205 low was an early warningthe macro move down from the high was likely over. The decenttrade back above $30,810 (-5 per/hour) has brought in $32,715 of the strengthwarned about above so far. The decent trade above $...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) - Sierra Metals (TSX: SMT) todayreported that its Q3 2021 zinc equivalent production of 68,489 thousand poundswas 29% lower than in Q3 2020. In Q3 2021, the companyproduced 8.3 million pounds of copper,...Read More
On a higher timeframe basis: I cautioned on 8/16/18 the breakabove $1,179.7-$1,183.7 warned of renewed strength. We have seen $905.5. This is ON HOLD. We heldmajor exhaustion at $2,071.6-93.2 with a $2,089.2 high and rolled over $412.8into the macro bearish correction warned about. This is ON HOLD. On a lower timeframe basis: The decent break above $1,729.9 (-4tics per/hour) has brought in $72 of...Read More
ROME, Oct 18 (Reuters) - Italy has been asked to provide more than 7 billion euros ($8 billion) in capital to UniCredit to strike a deal over Monte dei Paschi and offload as much as possible of the state-owned bank to the stronger rival, two people close to the matter said.UniCredit (CRDI.MI), Italy's No. 2 lender, agreed on July 29 to discuss buying selected parts of Monte dei Paschi (MPS) (BMP...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) - Hedge funds remain hesitant to jump back into the gold market as the Federal Reserve looks to tighten its monetary policy in the faceof growing inflation pressures, according to analysts evaluating the...Read More
NEW YORK, Oct 18 (Reuters) - Worries that the U.S. economy is heading into stagflation are overblown, several high-profile bond market investors said Monday at the 2021 Milken Global Conference program.Stagflation - when stagnant economic activity is combined with high inflation - is "extremely unlikely," PIMCO Chief Executive Emmanuel Roman said in a panel discussion at the conference, held in Be...Read More
(Adds details from report, background)OTTAWA, Oct 18 (Reuters) - Canadian companies anticipate stronger demand as the COVID-19 pandemic fades, but many say supply constraints will limit sales and put upward pressure on costs, a regular Bank of Canada survey said on Monday.The central bank's Business Outlook Survey Indicator reached its highest level on record in the third quarter survey, hitting 4...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) - Battery-metals focused Pallinghurst Group announced todaythat it bought 19.2% of Talon Metals (TSX:TLO). The purchase price was about 60 cents per share for anaggregate of $80.1 million. Talon Metals i...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) - Sayona Mining (ASX:SYA) said today it closed its acquisitionfor a 60%stake in MoblanLithiumProject, Qu?(C)bec for US$86.5million. The close comes after the company successfully raised A$100million. Loc...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) - IAMGOLD (TSX: IMG) (NYSE:IAG) today announced an initial mineral resource estimate for the Gosselin zonediscovery, centered approximately 1.5 kilometres northeast of the C??t?(C) Goldconstruction proje...Read More
NEW YORK, Oct 18 (Reuters) - Equity indexes across the globe were near flat on Monday as data showed slower-than-expected growth in China's economy last quarter, while five-year Treasury yields rose to their highest levels since early 2020.The U.S. dollar index edged higher along with the rise in yields amid investor expectations the Federal Reserve will need to increase interest rates sooner than...Read More
NEW DELHI (Reuters) -India's central bank said on Monday that policy support is needed for longer for a sustained recovery in Asia's third largest economy from a coronavirus induced slowdown, even as demand has picked up.Earlier this month, The Reserve Bank of India's (RBI) monetary policy committee kept interest rates steady at record lows and reiterated the need to unwind pandemic-era stimulus o...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) - Noront Resources (TSXV: NOT)today announced it has settled the terms of a proposal from Wyloo Metals underwhich Wyloo Metals would acquire up to 100% of the common shares of Noront forC$0.70 in cash.Ac...Read More
* Graphic: World FX rates in 2021 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Updates rates, headline; adds quote and chart)Oct 18 (Reuters) - Sterling steadied near a 20-month high versus the euro on Monday after Bank of England Governor Andrew Bailey sent a fresh signal that the central bank is gearing up to raise interest rates as inflation risks...Read More
Oct 18 (Reuters) - London's FTSE 100 slipped on Monday as investors ramped up bets of a quicker interest rate hike by the Bank of England, while gaming company Playtech soared after a 2.1-billion-pound takeover offer by Australia's Aristocrat Leisure.The blue-chip FTSE 100 index (.FTSE) ended 0.4% lower, marking its worst session in nearly two weeks, with healthcare (.FTNMX201030) and travel-r...Read More