Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.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 moderately higher in early U.S. trading Thursday, in the wake of a U.S. GDPreport that was downbeat and which fell into the camp of the U.S. monetarypolicy doves, who want the Federal R...Read More
WASHINGTON, Oct 28 (Reuters) - U.S. President Joe Biden made a last-minute trip to Congress on Thursday to push a new $1.75 trillion framework for economic and climate change spending, after weeks of squabbling between progressives and moderates in his party.Biden, who is delaying a trip to Europe to secure an agreement on his domestic policy priorities, is confident he will win backing from b...Read More
A summary of production figures and financial results from Finnish metal producer Terrafame for the third quarter of 2021, as stated in its earnings report released on Thursday October 28.In brief Strong year-on-year gains in nickel and zinc output during the September quarter reflect low production figures in the comparison period due to a long maintenance shutdown. Net sales climbed almost 25% i...Read More
Share this article VANCOUVER - Imperial Metals Corp. (III-TSX) has released 2021 third quarter production numbers for the has Red Chris copper-gold mine in northwestern British Columbia.The company said Red Chris produced 17.2 million pounds of copper and 15,249 ounces of gold in the third quarter, compared to 17.6 million pounds of copper and 15,451 ounces of gold in the second quarter of 2021.I...Read More
Share this article TORONTO - Golden Star Resources Ltd. [GSC-TSX; GSSA-NYSE American; GSR-Ghana] provided an update on the continued drilling programs within its 90%-owned Wassa mining concession in Ghana where there are currently three surface diamond drill rigs working. The Ghana government has a 10% carried interest.Two of the surface rigs continue to test the up and down dip extensions of the...Read More
WASHINGTON, Oct 28 (Reuters) - U.S. President Joe Biden will push for his party and the nation to coalesce around a trimmed-down domestic spending plan on Thursday, according to people familiar with the matter.Biden is expected to sketch the outlines of a deal that he thinks can unite the Democratic Party, which narrowly controls the legislature but has struggled to agree to a deal.He plans to tra...Read More
WASHINGTON (Reuters) - Contracts to buy U.S. previously owned homes unexpectedly fell in September likely as some potential buyers delayed purchases amid higher prices.The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, decreased 2.3% last month to 116.7. Pending home sales fell in all four regions.Economists polled by Reuters had fo...Read More
NEW YORK/LONDON, Oct 28 (Reuters) - Global equities retreated from record highs on Thursday, while safe-haven gold rose after the U.S. economy grew at its slowest pace in more than a year in the third quarter, hit by an uptick in COVID-19 infections and shortages caused by stretched supply chains.U.S. gross domestic product increased at a 2% annualized rate last quarter, slowest since the second q...Read More
Oct 28 (Reuters) - Analysts and traders have sharply lowered their price forecasts for platinum and palladium after a chip shortage forced auto makers to cut production of vehicles containing the metals, a Reuters poll showed on Thursday.Auto makers account for some 40% of platinum demand and 80% of palladium demand, embedding them in exhaust systems to neutralise harmful emissions.The chip shorta...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 28 that are worth another look.The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019. Brazilian miner Vale will resume activities...Read More
WASHINGTON, Oct 28 (Reuters) - U.S. President Joe Biden will urge Democrats in Congress to back a new $1.75 trillion framework for economic and climate change spending, and is confident he will win their backing despite deep divisions between moderate and progressive Democrats, senior administration officials said on Thursday.The framework would be fully paid for by repealing certain tax rebates p...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) - Disappointing investment demandcontinues to dominate the gold market as the World Gold Council reported a 7%decline in demand for the precious metal in the third quarter.In its latest Quarterly Demands...Read More
A healthy price arbitrage for Japanese hot-rolled coil producers to export into steel markets in the Americas has enabled these mills to keep raising their steel scrap buying prices in recent months, sources told Fastmarkets.Japanese HRC exports to the Americas totaled 1.36 million tonnes in January-August 2021 under HS codes 7208 and 722530, up by 37.6% year on year, according to statistics from...Read More
It may seem like a hyperbole, but if you want to invest in the next chipmaker set to rise to unprecedented heights like its counterpart NVIDIA (NASDAQ: NVDA) has over the past five years, look no further than Advanced Micro Devices (NASDAQ: AMD). I can't say enough good things about this company. Originally, I got my first followers into this company in 2018. It's been an incredible journey since...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 third quarter 2021 results. The company produced 1.45 million attributable ounces of gold and 315 thousand attributable gold equivalent ounc...Read More
Oct 28 (Reuters) - Following is the text of European Central Bank President Christine Lagarde’s statement after the bank’s policy meeting on Thursday:Link to statement on ECB website: hereGood afternoon, the Vice-President and I welcome you to our press conference.The euro area economy continues to recover strongly, although momentum has moderated to some extent. Consumers continue to...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
The price assessment for imported billet into Egypt decreased in the week to Thursday October 27, but local rebar prices widened upward on higher offers, sources told Fastmarkets.Local rebar producers increased their prices, effectiveOctober 20.Current offer prices for rebar range from E ?14,900 to15,350 ($946-975) per tonne ex-works including 14% VAT.Demand failed to improve in the country, howev...Read More
FRANKFURT (Reuters) -The European Central Bank kept policy unchanged on Thursday as widely expected, holding fire before a crucial December decision on whether to end emergency stimulus and return policy to a more normal setting.The bank reaffirmed its plan to keep buying bonds to pin borrowing costs near record lows and also promised to hold down interest rates for years to come - a pledge increa...Read More
Steel wire rod producers in Southern Europe have tried to increase offer prices this week, despite buyer resistance, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, remained at ?,?760-800 ($882-928) per tonne on Wednesday, October 27. ItalyIn Italy, wire rod was heard traded at ?,?760-770 per tonne delivered...Read More