European trade groups warned about the potentially "catastrophic impact" of a Chinese magnesium supply shortage on metals producers in the region, calling on the European Commission and national governments to take immediate action to mitigate the risks to industry.The groups - European Aluminium, European steel association Eurofer, European Automobile Manufacturers' Association, European metals a...Read More
(Reuters) - Federal Reserve Chair Jerome Powell said on Friday that the U.S. central bank is "on track" to begin reducing its purchases of assets, and noted that he expects inflation to abate next year as pressures from COVID fade."Supply constraints and elevated inflation are likely to last longer than previously expected and well into next year, and the same is true for pressure on wages," Powel...Read More
NEW YORK (Reuters) - Options traders are showing little fear that U.S stocks will turn volatile in coming weeks, even as the Federal Reserve appears set to announce an unwind of the easy money policies that helped equities double from last year's lows.The Cboe Volatility Index, known as Wall Street's fear gauge, recently stood at 15.52 after closing at a post-pandemic low of 15.01 on Thursday.The...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 22.Susan Zou, Yingchi Yang and...Read More
(Reuters) -Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch the interest rate dial."I do think it''s time to taper; I don''t think it''s time to raise rates," Powell said in a virtual appearance before a conference, noting that there are still fiv...Read More
Oct 22, 2021 Guest(s): Peter Boockvar CIO, Bleakley Advisory Group Gold has the potential to double once the Federal Reserve begins to tighten and hike rates to fight off hotter-than-expected inflation, said Peter Boockvar, chief investment officer at Bleakley Advisory Group. "If you inflation adjust gold for its 1980 high, it can go to $2,500, it can overshoot $3,000 plus," Boockvar told Michel...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) - Ferrochrome producer MerafeResources (JSE: MRF) reported today that its attributable 9M 2021 production fromthe Glencore Merafe Chrome Venture surged by 64% to 276 ktonnes compared to thesame period a...Read More
Oct 22 (Reuters) - The U.S. federal budget deficit shrank in September to $62 billion from $125 billion in the year-earlier period and was the smallest budget gap since January 2020. (Reporting by Dan Burns Editing by Paul Simao) 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 accurac...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) - West Africa - focused goldminer Hummingbird Resources (AIM: HUM) announced today that it poured 22,102 ozof gold at its Yanfolila gold mine in Mali in Q3 2021, a decrease of 11%compared to 24,722 oz po...Read More
London Metal Exchange base metals prices were mostly lower at the 5pm close on October 22, with investors looking to book profits from peaks reached earlier in the week. Aluminium's three-month price rolled back most of the gains made so far this month, with its closing price on Friday at 5pm, at $2,868 per tonne, being the lowest since October 6, with more than 37,000 lots traded. The metal...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 22.Susan Zou, Yingchi Yang 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) - Bitcoin-U.S. dollarare higherin early U.S. trading Friday, following a normal downside correction onThursday. Prices earlier this week hit a record high. The Bitcoin bulls still havethe solid overall n...Read More
LONDON, Oct 22 (Reuters) - The Group of Seven wealthy nations agreed on principles to govern cross-border data use and digital trade, Britain said in what was described as a breakthrough that could liberalise hundreds of billions of dollars of international commerce.Trade ministers from the G7 reached agreement at a meeting in London on Friday.The deal sets out a middle ground between highly regul...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) - Orocobre (ASX:ORE, TSX:ORL) todayannounced another record quarter at Mt Cattlin with 67,931 dry metric tonnes(dmt) of spodumene concentrate produced in September quarter, up 7%quarter-on-quarter.Import...Read More
Adam HamiltonArchivesOct 22, 2021 The gold miners' latest quarterly earnings season will soon get underway, with their full Q3'21 results due out by mid-November. These fundamental reports are invaluable to traders, revealing how companies are actually faring operationally and financially. Despite Fed-tightening fears hammering gold and gold stocks last quarter, the miners are likely to collective...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 pricesarehigher in early U.S. trading Friday, supported by increasing worries aboutproblematic price inflation and by a lower U.S. dollar index to end the tradingweek. Friendly charts...Read More
The weak operational performance was driven by COVID-related sick leave and outages at Garpenberg in Sweden and Kivitsa in Finland.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) -The gold market is holding on to gains above $1,800 an ounce following mixed data on the health of the U.S. manufacturing and service sectors.Friday, IHS Markit said its flash U.S. manufacturing Purchas...Read More
Vale has restarted a conveyor belt at its Salobo copper mine in Brazil following an 18-day stoppage due to a fire, the multi-metal producer said on Friday October 22.Activities at the site's processing plant resumed on Friday, and the company will subsequently ramp up copper concentrate output on Monday October 25.An estimated 8,000 tonnes of copper production was lost because of that downtime, Va...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) - MMG announced today that inQ3 2021, its copper production was 91,202 tonnes, 11% lower than in Q3 2020(102,469 tonnes), due to a prolonged community road blockade at Las Bambas andlower ore grades at K...Read More