(Kitco News) - Cryptocurrencies have no place inthe global economy as a legitimate unit of money, this according to JanetYellen, former Chair of the Federal Reserve.“I am not a fan of bitcoin, let metell you why,” Yellen told an audience during a live panel at the 2018 CanadaFinTech Forum in Montreal on Monday.Yellen said that cryptocurrencieslike bitcoin lack the necessary characteris...Read More
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump and Chinese President Xi Jinping both expressed optimism on Thursday about resolving their bitter trade disputes ahead of a high-stakes meeting planned for the two leaders at the end of November in Argentina.Trump said on Twitter that trade discussions with China were “moving along nicely” and that he planned to meet with Xi on...Read More
President Donald Trump says he talked to Chinese President Xi Jinping about trade amid tensions between the world's two largest economies.Trump says the conversation was productive, but he did not provide any details about progress.The White House is considering whether to levy tariffs on an additional $267 billion in Chinese goods.Jacob Pramuk| @jacobpramuk Published 11 Hours AgoUpdated8 Hours Ag...Read More
TORONTO, Nov 1 (Reuters) - Ontario Finance Minister Vic Fedeli will present the fall economic statement of Canada's biggest province on Nov. 15, a spokesman for the Ontario Ministry of Finance said on Thursday.The province's new Progressive Conservative Party government, led by populist Doug Ford, accepted in September a recommendation made by a commission of inquiry that it should more than doubl...Read More
(Reuters) - The New York Times Co (NYT.N), assailed by a U.S. president who brands it as “failing,” signed up more than 200,000 paying online subscribers in the third quarter, helping it top Wall Street estimates for both profit and revenue.Shares in the publisher rose 8 percent after quarterly results on Thursday showed digital-only subscribers rose to 3.1 million at the end of Septem...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump will make remarks on immigration and border security on Thursday before leaving for a political rally, the White House said.Trump has ramped up his tough stance on illegal immigration, an issue that appeals to his core supporters, before elections on Tuesday that will determine whether his fellow Republicans keep control of Congress.He will delive...Read More
It looks like one speculator is cashing in on a big spreadThe iShares China Large-Cap ETF (FXI) is moving higher today, thanks to President Donald Trump's encouraging tweet on trade. The exchange-traded fund (ETF) was last seen 3.8% higher at $40.79, and it looks like one options trader is cashing in, with FXI call volume skyrocketing.Shares of the fund have struggled since peaking at $54 in Janua...Read More
From 1996 until 2010, Zone 87 at the Troilus mine in Quebec was responsible for the majority of the 2 million ounces of gold and 70,000 tonnes of copper that was produced at the open-pit mining operation.The Z87 pit ultimately ran 350 metres deep and had a strike length of about 900 metres.Now junior explorer Troilus Gold (TSXV: TLG) is trying to bring that zone and others on its property back i...Read More
NEW YORK (Reuters) - New Yorkers will be able to use their mobile phones to obtain bitcoin or sell it for cash at kiosks similar to ATMs in and around New York City after the state Department of Financial Services said on Thursday it has approved the virtual currency license of Coinsource Inc.Bitcoin teller machines operator Coinsource, based in Fort Worth, Texas, has 40 bitcoin kiosks in the stat...Read More
JAKARTA (Reuters) - The pilot of a Lion Air flight from Indonesia’s Bali island on Sunday made a radio alert minutes after take-off due to technical problems, but they were overcome and he pushed on to Jakarta. The same jet crashed on another flight hours later, killing all 189 people on board.Herson, chief of the airport authority for the Bali-Nusa Tenggara area, told Reuters that after the...Read More
(Kitco News) - Gold andsilver prices are posting strong gains in early-afternoon U.S. tradingThursday. Traders in both metals have stepped in to buy the dips on someperceived bargain hunting, and by heavy short covering from the futurestraders. Also, precious metals are seeing good buying interest as the U.S. dollar index is posting sharp losses today, on a corrective pullback fromrecent gains tha...Read More
(Reuters) - U.S. stocks rose for a third straight day on Thursday, as industrials gained after President Donald Trump said trade talks with China were “moving along nicely”, while optimism was boosted by healthy results, especially from chipmakers.Trump said he plans to meet with his Chinese counterpart Xi Jinping at the upcoming G-20 summit in Argentina at the end of the month, revivi...Read More
Both healthcare stocks have been underperformers in NovemberBiotech name Vertex Pharmaceuticals, Inc. (NASDAQ:VRTX) and medical device stock Boston Scientific Corporation (NYSE:BSX) both had subpar Octobers, pulling back amid the broader market sell-off. And while both stocks are trading higher today, the selling could be far from exhausted, if history is any guide.VRTX's Rough Quarter Could Get W...Read More
Mr. Michael Williams reportsVENDETTA OBTAINS EXTENSION TO THE PEGMONT PRE-PAID ROYALTY PAYMENT TO EARN 100% OF PEGMONT LEAD-ZINC PROJECTVendetta Mining Corp.has signed an amendment to its agreement with Pegmont Mines Ltd., the vendor of the Pegmont project.To obtain 100% of the Pegmont Project the Company had to complete certain drilling milestones and make option payments and a pre-paid royalty p...Read More
Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week.Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors such as private equity or companies that see...Read More
BOSTON - (Kitco News)- Silver has not been the shiningmetal that TD Securities was expecting it to be in 2018, but the firm is notgiving up on the precious metal as analysts see it outperforming gold in 2019.In an interview with Kitco Newsduring the London Bullion Market Association’s 2018 conference, Bart Melek,head of commodity strategy at TDS, said there have been several factorsconspirin...Read More
Gold buying by central banks reaches its highest level since the fourth quarter of 2015.Around $5.82 billion was spent during the third quarter to boost central bank reserves.The buying was offset by heavy selling of gold-backed funds during the same period.David Reid| @cnbcdavy Published 12 Hours AgoUpdated12 Hours AgoCNBC.com Mariya Gordeyeva | ReutersCentral banks around the world have upped t...Read More
Gold buying by central banks reaches its highest level since the fourth quarter of 2015.Around $5.82 billion was spent during the third quarter to boost central bank reserves.The buying was offset by heavy selling of gold-backed funds during the same period.David Reid| @cnbcdavy Published8:25AM ET Thu,1 Nov 2018Updated 8:34AM ET Thu,1 Nov 2018CNBC.com Mariya Gordeyeva | ReutersCentral banks aroun...Read More
LONDON (Reuters) - Swiss bank UBS (UBSG.S) will expand training for staff investigating sexual misconduct claims, and introduce a confidential hotline to handle such allegations, an internal memo sent to staff seen by Reuters shows.The changes follow a review conducted by law firm Freshfields into how UBS handled a former junior trader’s initial allegation that she was raped in September 201...Read More
JOHANNESBURG- Sibanye-Stillwater's third-quarter core profit fell 40 percent after a wave of fatal accidents hit its domestic gold mining operations this year, the South African miner said on Thursday, sending shares tumbling.South Africa has the world's deepest gold mines and an earth tremor at one of Sibanye-Stillwater's mines killed seven miners in one incident alone in May. In all, 24 of its w...Read More