(Reuters) - Richmond Federal Reserve President Tom Barkin on Thursday said the U.S. central bank has cleared a path for what he hopes to be a "seamless" start to a reduction in its support for the economy, but that it will take more time to determine when interest rate hikes will be appropriate."We still have a lot to learn about whether recent inflation levels will be sustained and how much room...Read More
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Thursday voted to revive a rule, left unfinished since 2015, that would expand the regulator"s powers to clawback executives" compensation when a company had to restate its financials due to a compliance lapse.The SEC said it would seek a further round of public feedback on the rule, which was mandated by Congress followin...Read More
Oct 14 (Reuters) - Wall Street’s highly shorted stocks rallied on Wednesday as institutional investors pared their short bets due to a strong rebound in risk sentiment, strategists at Vanda Research said in a note.U.S. stocks are up more than 1% on Thursday, building on the previous session’s gains that were led by big growth names like Amazon.com and Microsoft"We believe institutional...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) - Kenmare Resources, one of theleading global producers of titanium minerals and zircon, which operates theMoma titanium minerals mine in northern Mozambique, today reported productionresults for the qua...Read More
Kitco MEDIA ? Does This Bounce In Gold And Silver Change The Near-term Outlook?By Cory FleckContributing tokitco.com Follow @KitcoNewsNOWFleck@kereport.comwww.kereport.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals...Read More
NEW YORK, Oct 14 (Reuters) - The popularity of a Federal Reserve facility that allows financial firms to park cash with the central bank overnight is not concerning and usage should decline as rates on other investments start to rise, a senior New York Fed official said on Thursday."Over time, if rates on other overnight investments start to rise relative to the overnight (reverse repo facility) ....Read More
(Reuters) - U.S. Senator Joe Manchin has promised to block a proposed royalty for minerals extracted on federal land from advancing in the U.S. Senate's version of the hotly debated reconciliation package, a senate staffer said on Thursday.Manchin, a West Virginia Democrat and chair of the Senator's Energy and Natural Resources committee, promised U.S. Senator Catherine Cortez Masto, a Nevada Demo...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) - Fortitude Gold (OTCQB: FTCO)today announced preliminary third quarter production of 11,478 gold ounces fromits Isabella Pearl mine in Nevada, USA. Through the first threequarters of 2021, the company's...Read More
WASHINGTON (Reuters) - The four largest U.S. consumer banks posted another strong quarter this week as the rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading also boosted their bottom lines.JPMorgan Chase & Co, Citigroup, Well Fargo & Co and Bank of America Corp, seen by analysts and economists as...Read More
(Adds comments, background)LONDON, Oct 14 (Reuters) - The Bank of England can hold off on raising interest rates because investors are doing some of the central bank's work for it by betting on tighter monetary policy in Britain and the United States, BoE interest rate-setter Catherine Mann said."They see that monetary policy normalisation is the direction of travel ... and so they are doing their...Read More
(Reuters) - Despite a broadly shared view that the U.S. labor market has healed enough to allow the Federal Reserve to start reducing its monthly bond purchases as soon as next month, policymakers remain divided over inflation and what they should do about it.The U.S. government reported on Thursday that producer prices rose 8.6% in the 12 months through September, the biggest year-on-year advance...Read More
LONDON (Reuters) - Global inflation is spreading to a wider range of goods and services, as the rapid recovery in spending overwhelms the short-term ability of manufacturers, freight firms and service providers to increase output.Previously characterised by policymakers as "transient", the increase in inflation as the economy recovers from the exceptionally deep coronavirus-induced recession has p...Read More
Oct 14 (Reuters) - Thomson Reuters Corp (TRI.TO) is launching a $100 million venture capital fund to invest in early stage companies that serve professional audiences in the legal, tax and accounting, and news media business.The fund, named "Thomson Reuters Ventures," is part of Chief Executive Steve Hasker's plan to transform the provider of news and information to professionals into what it ca...Read More
(Kitco News) Russian President Vladimir Putin weighed in on crypto at the Russian Energy Week, stating that cryptocurrency "has value," but it might be "too early" to use it as an alternative means of payment to the U.S. dollar when trading energy resources.At the event held this week in Moscow, Putin was asked whether cryptocurrencies could be used to settle oil trades as an option to move away f...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) - Foran Mining (TSX.V: FOM)today announced an updated mineral resource estimate for the company's100%-owned McIlvenna Bay deposit located in east-central Saskatchewan, Canada.The company said that the202...Read More
The bulls have finallytaken back control of Gold, Silver and Platinum. All three have now managed toreverse the trend after their prolonged downtrend. We have seen them breakabove the resistance levels we wrote about last week, now we look to buy thedips. The trends are nowhigher, which makes us double long. We always own physical and now long thefutures. No one knows how long this trend will last...Read More
MOSCOW (Reuters) - Russian President Vladimir Putin said that crypto currencies were too unstable to be used to settle oil contracts but that they still deserved a place as a means of payment.The Russian leader made the remarks in an interview with CNBC that was published on the Kremlin's website on Thursday. He was asked if he could see oil contracts being denominated in cryptocurrencies instead...Read More
(Reuters) - Billionaire entrepreneur Elon Musk said in a tweet on Thursday he was in talks with airlines about installing Starlink, a satellite-based broadband service owned by his rocket company SpaceX.Musk, who is known for his Twitter banter, announcements and lively interactions with followers, did not provide any details about the talks in his tweet. It was not immediately clear which airline...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 arehigher in midday U.S. trading Thursday and hit four-week highs. The metals arebeing propelled up by improving near-term chart postures and lingering concernsabout rising and...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) - First Cobalt (TSX-V: FCC)announced Thursday that it has received the second of three required permitamendments to recommission its hydrometallurgical refinery in Canada. "Receipt of the Air &Noise Envi...Read More