Gold and silver are seeing a solid rally this morning, pushingup to our resistance levels. Until proven otherwise, we are selling atresistance with the trend still lower. Based on the trend and recent priceaction, there are two choices, observe and wait for the trend reversal or sellat resistance. Since we are trend traders, andthe trend is lower, we will be sellers at resistance. This does not gu...Read More
NEW YORK/LONDON (Reuters) -The dollar held near a one-year high on Wednesday after U.S. inflation data showed prices rose solidly in September, stoking expectations the Federal Reserve will announce a tapering of stimulus next month, with the potential for rate hikes by mid-2022.The consumer price index rose 0.4% last month, versus a 0.3% rise expected by economists polled by Reuters. In the 12 mo...Read More
LONDON (Reuters) - A group of banks that partnered with the London Metal Exchange (LME) to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise, three sources with direct knowledge of the matter said.Such a move would end an attempt by the LME, which dominates industrial metals trading, to capture part of London's bullion market, wh...Read More
SINGAPORE (Reuters) -Standard Chartered Plc announced a 10-year fintech partnership with Singapore-based Atome Financial on Wednesday to help it grab a piece of the booming buy now, pay later market in Asia that has thrived during the pandemic.The global boom has boosted providers including Klarna, Affirm, Afterpay and Paypal, but has led to greater scrutiny by regulators concerned that consumers...Read More
MILAN, Oct 13 (Reuters) - The Italian market for cloud services is set to grow by 16% in 2021 as companies and the public administration strive to build on a digital acceleration brought about by the COVID-19 pandemic, an academic study showed.Research by the Cloud Transformation hub run by Milan's Politecnico University forecast Italian businesses and government agencies would spend 3.84 billion...Read More
(Reuters) - SoftBank Group Corp's venture capital fund has invested $400 million in Vuori Inc, the California-based maker of leggings and sports bras said on Wednesday, valuing it at $4 billion.Vuori, founded in 2015, plans to expand its Western European and Asian markets next year and open more than 100 U.S. stores in the next five years.Activewear makers have seen strong demand over the past yea...Read More
(Reuters) - SeatGeek on Wednesday agreed to go public in a merger with a special-purpose acquisition company, backed by baseball executive Billy Beane of "Moneyball" fame, giving the online ticketing firm an enterprise value of $1.35 billion.Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva Disclaimer: The views expressed in this article are those of the author and may not re...Read More
Mr. Scott Berdahl reportsSNOWLINE GOLD INTERSECTS 13.9 GRAMS PER TONNE GOLD OVER 6.0 M INCLUDING 45.0 GRAMS PER TONNE GOLD OVER 1.5 METRES AMONG WIDESPREAD GOLD HITS AT ITS JUPITER ZONE, EINARSONSnowline Gold Corp. has released additional assay results from phase I drilling at the Jupiter zone on its district-scale Einarson gold project in Yukon, Canada. A set of three holes drilled radially from...Read More
(Reuters) - Private equity firm Francisco Partners has agreed to invest in legal software platform Paradigm in a deal that valued the firm at $400 million, people familiar with the matter told Reuters.The deal is the latest bet on the legal technology sector from Francisco Partners, which earlier this year took online legal platform LegalZoom Inc. public. Francisco Partners remains one of the bigg...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 and silver prices areposting slight gains in early U.S. trading Tuesday, after a brief rally thatpushed prices solidly higher just before a key U.S. inflation report wasreleased. The U.S. dollar...Read More
(Reuters) - BlackRock Inc, the world's largest money manager beat third-quarter profit estimates as an improving economy helped boost its assets under management, driving up fee income.Asset managers have benefited from rising global financial markets in recent quarters as investors put money to work, making the most of the post-pandemic economic reopening, driven by progress on vaccinations and s...Read More
(Reuters) - Changes in the share structure of KKR & Co Inc, Apollo Global Management Inc and Carlyle Group Inc that strip the private equity firms" founders of voting control are making them and their employees wealthier, according to a Reuters review of regulatory filings.FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in Ne...Read More
LONDON (Reuters) - U.S. stock futures ticked up and European stocks reversed early losses on upbeat earnings on Wednesday, though markets were jittery ahead of U.S. consumer price data later in the session and oil dropped from recent multi-year highs.Concerns about rising inflation are gnawing at optimism about global recovery from the COVID-19 pandemic.September U.S. CPI is forecast to show a mon...Read More
BEIJING (Reuters) - China’s coal imports surged 76% in September as power plants scrambled for fuel to ease a power crunch that is pushing domestic coal prices to record highs and disrupting business activity in the world’s second-largest economy.Flooding in a key coal producing province has worsened the supply outlook, with analysts expecting electricity shortages and rationing to con...Read More
(Kitco News) The U.S. inflation data accelerated slightly more than expected in September, with the U.S. Consumer Price Index rising 0.4% after August's advance of 0.3%, the U.S. Labor Department said. Consensus forecasts were calling for a rise of 0.3%.Annualized inflation was at 5.4% versus the projected 5.3%. September's increase matched the largest annual price gain since 2008. This comes afte...Read More
DUBAI, Oct 13 (Reuters) - Egypt is targeting a primary surplus of 1.5% of its gross domestic product and a budget deficit of 6.7% of GDP in the 2021-22 financial year, the cabinet said in a statement on Wednesday citing the finance minister.The country's financial year runs from July to June. (Reporting by Momen Saeed Atallah; Writing by Nadine Awadalla; Editing by Catherine Evans) Disclaimer: Th...Read More
* Labour and goods shortages fuelling UK inflation* UK "breakeven" rates have soared in recent weeks* "Inflation tourists" to blame, says one trader* Funds say U.S., Aussie, euro zone bonds more attractive* Tighter BoE policy, tech may push inflation lowerLONDON, Oct 13 (Reuters) - Britain looks like one place where investors urgently need a hedge against inflation, yet many say trade in domestic...Read More
MUMBAI, Oct 13 (Reuters) - Invesco (IVZ.N) said on Wednesday it facilitated talks between India's Reliance Industries (RELI.NS) and Zee Entertainment (ZEE.NS) earlier this year on a possible tie-up, revealing for the first time that India's richest man, Mukesh Ambani, was interested in the television giant.But the U.S. investment firm rejected allegations from Zee that it was resorting to do...Read More
(Reuters) - India's fuel demand rose 5.2% in September compared with the same month last year to 15.92 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Wednesday.Sales of gasoline, or petrol, were 6% higher from a year earlier at 2.60 million tonnes, while diesel sales rose 0.5% year-on-year to 5.51 million tonnes, the data showed.Reporting by...Read More
BRUSSELS, Oct 13 (Reuters) - Apple (AAPL.O) on Wednesday ramped up its criticism of EU draft rules that would force it to allow users to install software from outside its App Store, citing the risks posed by cybercriminals and malware.The iPhone maker has been a fierce critic of EU antitrust chief Margrethe Vestager's proposed rules, which were announced last year in a bid to rein in Apple, Amaz...Read More