WASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai said on Thursday that her engagement with China is aimed at reducing the temperature of a trading relationship between the world's two largest economies that has become dangerously heated.Tai, speaking at a meeting of the National Chicken Council, said that the U.S.-China relationship has reached a point where "it feels kind of like a...Read More
Oct 28 (Reuters) - Wall Street's main indexes rose on Thursday as upbeat quarterly earnings from Caterpillar, Merck and Ford helped investors shrug off data that showed U.S. economic growth slowed sharply in the third quarter.Ford Motor Co (F.N) jumped 11.2% after the carmaker topped third-quarter profit estimates and raised its full-year earnings forecast. read moreCaterpillar Inc (CAT.N) ad...Read More
"Supporting Northeastern Ontario's entrepreneurs and small and medium business owners has never been more important," said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. "Business growth is key to healthy regional economies and communities. With this funding, our government continues to strengthen economic diversification and job creation across the North."...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) - China's gold consumption in the first nine months of 2021 rose amassive 48.4% on the year to 813.59 tonnes, according to the China GoldAssociation. This came as demand recovered from a pandemic-affecte...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. dollar are higherin early U.S. trading Thursday. Bulls are working to keep alive the priceuptrend in place on the daily bar chart. The Bitcoin bulls still have the overallnear-term technic...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