(Updates prices, adds chart)LONDON, Oct 26 (Reuters) - Euro zone inflation expectations among bond investors hit a new seven-year high above 2.07% on Tuesday, shooting past the European Central Bank's target on the back of soaring oil prices and supply chain crunches around the world.Oil prices reached multi-year highs this week on the back of tight global supply and strengthening fuel demand.This...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 arelower at midday Tuesday, on some normal backing and filling on the chartsfollowing recent gains. Both metals' bulls remain comfortable at present, asnear-term price uptrends...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) - Sibanye-Stillwater (NYSE:SBSW), the world's largest primary producer of platinum and rhodium, announcedTuesday that it has signed definitive purchase and sale agreements withaffiliates of funds advised...Read More
By Eric Onstad LONDON, Oct 26 (Reuters) - About $1.5 trillion of investmentis needed to decarbonise electricity supplies used to makealuminium so the sector can start meeting United Nations climategoals, an industry group said on Tuesday. But that huge investment is only a portion of the fundsneeded so output of aluminium, one of the most energy intensemetals, can cut emissions by 2050, the Intern...Read More
(Kitco News) The fiscal and monetary disorder will trigger a move into alternative assets, and silver has the most "explosive" upside potential, said Tavi Costa, Crescat Capital portfolio manager."Silver is the cheapest metal on earth. And I will continue to buy it because it doesn't deserve the sub $30 an ounce price tag. We're going to see flows of capital coming into the space. It's a very th...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) - Newmont Corporation (NYSE:NEM, TSX: NGT) today announced that its Board of Directors declared a quarterlydividend of $0.55 per share of common stock, payable on December 28, 2021 toholders of record at...Read More
OTTAWA, Oct 26 (Reuters) - Canadian Prime Minister Justin Trudeau on Tuesday shuffled his cabinet, naming long-time green activist Steven Guilbeault as environment minister and also naming new ministers of foreign affairs and defense.Trudeau, who won reelection for the second time on Sept 20, was forced to make changes after three cabinet ministers were defeated and another quit. (Reporting by Dav...Read More
MOSCOW, Oct 26 (Reuters) - A mix of low incomes and rising inflation is stifling purchasing power in Russia while driving growth of discounters and convenience stores in the retail sector that could soon produce Russia's largest IPO in years.Low-cost retailer Fix Price raised around $2 billion in a London listing in March and the next Russian retailer to stage a market debut will likely be Mercury...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) - Russian mining companyPolymetal, a top-10 global gold and silver producer, reported today that its Q32021 gold equivalent production decreased by 8% y-o-y to 437 Koz as resultsreverted to the mean from...Read More
LAS VEGAS, Oct 26 (Reuters) - A top U.S. bank regulator said U.S. officials are looking to provide a clearer path for banks and their clients that are looking to hold cryptocurrencies, in order to keep control over the fast-developing asset.Jelena McWilliams, who chairs the Federal Deposit Insurance Corporation, told Reuters in an interview on Monday that a team of U.S. bank regulators is trying t...Read More
Mr. Ian Klassen reports GRANDE PORTAGE RESOURCES ANNOUNCES COMPLETION OF ITS 2021 DRILL PROGRAM AT THE HERBERT GOLD PROJECT IN SE ALASKAGrande Portage Resources Ltd. has completed its two-rig drill program at the Herbert gold project in southeast Alaska. The company completed 19 holes and approximately 8,150 metres of drill core which included both stepout and infill holes, effectively expanding t...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) - Although Bitcoin remains an attractive momentum play with pricestrading just off last week's all-time highs, gold investors shouldn't see the digitalcurrency as competition, according to one precious m...Read More
BEIJING (Reuters) - T3, a Chinese ride-hailing company backed by state-owned automakers FAW, Dongfeng and Changan said on Tuesday that it had raised 7.7 billion yuan ($1.2 billion) to fund expansion.T3's funding round comes as ride-hailing companies step up efforts to take market share from China's ride hailing market leader Didi Global Inc which is facing a cybersecurity investigation by Chinese...Read More
Oct 26 (Reuters) - Chile's Codelco, the world's largestcopper miner, has offered to supply copper to a South Koreancustomer at a premium of $100 a tonne in 2022, two sources withdirect knowledge of the matter said, a 20% rise from this year.The higher rates, paid on top of the London Metal Exchangebenchmark copper price , underscore anticipated strongdemand for the metal as the global economy cont...Read More
WASHINGTON/BANDAR SERI BEGAWAN, Oct 26 (Reuters) - U.S. President Joe Biden joined Southeast Asian leaders for a virtual summit on Tuesday, the first time in four years that Washington has engaged at the top level with a bloc seen as key to countering an increasingly assertive China.The United States had not met with the Association of Southeast Asian Nations at the presidential level since Biden'...Read More
(Reuters) -United Parcel Service Inc reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery giant to raise shipping prices and cherry-pick more profitable customers.The Atlanta-based firm also raised its full-year adjusted operating margin outlook to about 13% from about 12.7%, a month after rival FedEx Corp cut...Read More
(Kitco News) Gold was trading down 1% on the day as the U.S. new home sales beat expectations in September with an advance of 14%. The prior month's number was revised down. New home sales were at a seasonally adjusted annualized rate of 800,000 homes in September, the U.S. Commerce Department said on Tuesday. August's sales were revised down to a rate of 702,000 units.The market consensus calle...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 prices continue to struggle to find new bullish momentum, falling further below $1,800 an ounce as optimism among U.S. consumers rises higher than expected in October.Tuesday, the U.S. Conference B...Read More
ATHENS, Oct 26 (Reuters) - Macquarie Asset Management is in for the long haul with its planned investment in Greek power grid operator HEDNO, a senior executive at the investment manager told Reuters, pointing to the opportunity presented by the electrification of the Greek economy.Public Power Corp (PPC), Greece's biggest power utility, said last week it had agreed to sell 49% of fully-owned powe...Read More
BOGOTA, Oct 26 (Reuters) - AngloGold Ashanti Ltd's Quebradona copper project in Colombia will be delayed by theshelving of an environmental permissioning process, a companyspokesperson said on Tuesday.Colombia's environmental licensing authority announced thedecision to shelve the request - rather than accept or reject it- on Monday. The company needs to be officially notified of a decision soit c...Read More