The Fed announced Wednesday plans to begin tapering its asset purchase program later in November, with a $10 trillion reduction in Treasurys and $5 billion reduction of mortgage-backed securities.Gary Wagner, editor of TheGoldForecast.com, discusses with David Lin, anchor for Kitco News, the impact this decision will have on the gold price. "It is our national debt that has grown substantially. I...Read More
I don't know if you saw it or not, but over the summer China conducted a pair of hypersonic weapons tests that reportedly left Department of Defense officials "stunned."General Mark Milley, the chairman of the Joint Chiefs of Staff, called it a "Sputnik moment."Of course, none of this came as a surprise to me, or my readers, because I've been talking about hypersonic weapons for years. I even wrot...Read More
As expected, today, after the November FOMC meeting, boththe statement and press conference by Jerome Powell acknowledged that they willbegin the process of tapering their monthly asset purchases this month.Starting this month, they will reduce their monthly purchases of U.S. debt by$10 billion each month and reduce their monthly purchases of MBS(mortgage-backed securities) by $5 billion monthly....Read More
(Kitco News) - With the advent of blockchain technology, it is now possibleto "tokenize" assets and create digital trading vehicles that trackthe underlying asset.Atomyze is one such company doing exactly that, and thefirst asset class they are tokenizing will be commodities, and in particular,metals.Jeanine Hightower-Sellitto, CEO of Atoymze, discusses withDavid Lin, anchor for Kitco News, how t...Read More
(Kitco News) - Investors are still weighing the risk of inflation, whichhas tapped the breaks on gold's rise, said Agnico Eagle (TSX:AEM) CEO SeanBoyd. Boyd spoke to Kitco on Tuesday. The company released its Q3this week. In the spring gold traded above $1,900 oz but this fall isstruggling to stay above $1,800 oz. "Gold is stuck right now because investors are still tryingto determine what inflat...Read More
(Kitco News) Gold pared some of its losses, rising from daily lows as Federal Reserve Chair Jerome Powell talked about inflation uncertainty but stressed that it is "premature to raise rates today.""Inflation has come in higher than expected. Bottlenecks have been more persistent and are on track to persist well into next year. I don't think we are behind the curve. The policy is well-positioned t...Read More
Gold production in Q3 was up sharply at McEwen Mining (TSE:MUX). Results were announced this afternoon. Gold production was up 40% to 32,100 oz compared to the same period a year ago. McEwen traded up 4.4% today to $1.41 a share. The stock is up 8.57% year-to-date while the GDXJ has dropped 25% over the same period. The company said it is on track to meet its 2021 production guidance of 141,000...Read More
(Kitco News) Ethereum is running well ahead of the crypto pack, with the cryptocurrency reaching new all-time highs on Wednesday. Analysts are now looking into its connection to rising inflation expectations.The ether token hit a record high of $4,642.48 on Wednesday. The cryptocurrency is following in the footsteps of bitcoin, which hit its new all-time high of $67,016.5 at the end of October."A...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 are holding steady but remain in negative territory as the Federal Reserve said it will reduce its monthly bond purchases.Markets have widely expected the announcement."In light of the...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 sharply down in afternoon U.S. dealings Wednesday. This afternoon’s FOMCstatement from the Federal Reserve saw the U.S. central bank announce it willbegin tapering its bond-buying...Read More
(Kitco News) - NFT's are going to revolutionize the way traditional art isdisplayed and sold, pioneering NFT and digital artist Amrita Sethi emphasized. "A traditionalpainted mural is a flat image. It is a two-dimensional image on a wall. The wall isthree-dimensional, but even a wall has a lack of dimensions. The minute you scan the QR code and you playback the augmented reality, it starts to add...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 'staggering' numbers needed for metal production to meetcoming EV demandTo meet anticipated battery material demand, Sean Thijsse atPallinghurst Group has seen multiples as high as 20-times current...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 remains deep in negative territory falling to anew session low following stronger than expected activity in the U.S. servicesector.Wednesday,the Institute for Supply Management (ISM) said it...Read More
Copper has been in a reall copper bull market this year with prices hitting just shy of $5.00 per pound. That is the highest price in over a decade and by the looks of things, it has the potential to go a lot higher yet. I was reading somewhere, I can't remember where exactly, but there are some analysts calling for another 50% rise in copper prices in the next year or so. Taking this into mind it...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) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have...Read More
Zinc's three-month price on the London Metal Exchange on Wednesday November 3 touched its lowest since October 13, with prices in the base metals complex ending the day on a mixed note ahead of the US Federal Reserve Bank's Federal Open Market Committee press conference.Zinc reached $3,263 per tonne on Wednesday, its lowest price since announcements by Nyrstar and Glencore that production in Europ...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) -Spot gold prices are holding relatively steady in negative territory even as private-sector jobs grew more than expected in October, according to private-payrolls processor ADP.Wednesday, ADP said that...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 3.Please click...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) - Franco-Nevada reported today that the company's gold equivalent ounces (GEO) sold in Q3 2021 were 146,495 GEO, an increase of 8.7% from the 134,817 GEO sold in Q3 2020. The company said that higher con...Read More
Nickel premiums remained steady in the United States, China and Europe in the week to November 3, although tight supplies and growing production disruptions are keeping prices high in the US. US nickel premiums hold at historic highsChinese premiums also stable with increased full plate imports into ChinaPremiums unchanged in Europe, with market focusing on contracts for 2022US premiums still at h...Read More