Gold, silver and copper futures gave back part of Monday’s gains on Election Day in the U.S., with gold at about $3,938.50 an ounce (down 0.78%), silver down 2.33% and copper down 2.39%. Several producers with recent results or project updates rose instead, including Algoma Steel (up 4.66%), Nexa Resources (up 2.41%) and Ero Copper (up 0.94%). Ero Copper reported record third-quarter 2026 results, with 18,345 tonnes of copper produced and net income of $116.2 million, and kept its 2026 copper guidance at 67,500 to 77,500 tonnes. Nexa Resources posted third-quarter adjusted EBITDA of US$301 million, up 62%, but a net loss of US$47 million that included a US$124 million impairment. According to the World Gold Council, central banks bought 321 tonnes in the third quarter, lifting year-to-date demand to 675 tonnes, up 6%.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
goldsilvermetalsminingcentral bank
Open a keyword to see other news on the same topic.
Related tickers and likely impact
PAXG/USDT
▼ Likely negativePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/02/2026 | 3,952.77 |
| Change that session | +1.07% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/02/2026 | 3,938.98 |
| Change that session | +1.16% |
XAU/USD
▼ Likely negativeRelevance: medium
| Market | Gold |
|---|---|
| Close on 11/02/2026 | 3,946.68 |
| Change that session | +1.84% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Largo Begins Copper, Gold and PGM Production in Q3 2026, Revises Vanadium Guidance
Largo began producing copper, gold, platinum and palladium concentrates in Q3 at its Maracás Menchen Mine in Brazil, with output of 108 tonnes of copper, 289 ounces of gold, 166 ounces of platinum and 291 ounces of palladium. Vanadium pentoxide (V₂O₅) production fell to 2,093 tonnes from 2,636 tonnes a year earlier, though the first nine months of 2026 rose 23% to 7,609 tonnes. The company cut its 2026 V₂O₅ production guidance to 9,500 to 10,500 tonnes from 10,500 to 12,000 tonnes, kept its sales guidance at 7,500 to 9,500 tonnes and raised its adjusted cash operating cost guidance to $5.00 to $6.00 per pound. Largo also signed a debt restructuring agreement with Banco Santander (Brasil), bringing about 58.4% of its commercial bank senior debt under restructuring arrangements, with a final maturity of March 2030.
- What Teck Resources (TECK) Said on Its Q3 Earnings Call
Teck Resources (NYSE: TECK) reported third-quarter adjusted EBITDA that doubled from a year earlier to C$2.3 billion, while operating cash flow rose to C$1.6 billion, driven by record copper prices and higher output. Copper production rose 11% to 116,000 tonnes despite severe weather, and the company kept its full-year Quebrada Blanca production outlook at 200,000 to 235,000 tonnes. Teck lowered its net cash unit-cost guidance to US$1.80–2.00 per pound for copper and US$0.30–0.40 per pound for zinc. Net cash reached C$1.9 billion, and the Anglo American merger remains on track pending Chinese regulatory approval, while a strike at Highland Valley Copper is reducing operations but is not expected to materially delay the mine-life extension project.
- Gold path to $6 , 000 and silver return above $90 depend on renewed investor confidence – Metals Focus
Gold prices have struggled as persistent inflation and rising interest rates push investors toward higher-yielding assets, but Metals Focus analyst Matthew Piggott says the market is consolidating rather than entering a bear market. Institutional and central bank buying has kept gold above $4,000 an ounce, and investors have repeatedly returned when prices fall toward that level. Metals Focus forecasts gold to average $5,330 an ounce in 2027, up 16% from this year's projected $4,600, with prices potentially approaching $6,000 in the fourth quarter. It expects silver to average $84.40 an ounce next year and rise above $90 in the fourth quarter. The main risk is the Middle East conflict, which keeps energy prices and inflation high, strengthens the dollar, and delays the expected gold rally.
- The Precious Metals Crisis That Could Trigger A Global Financial Reckoning
An analysis argues that the sharp fall in gold and silver prices masks a deeper change in the market. Gold hit a record in late January 2026 at $5,608 an ounce on one spot reading, and by mid-October traded near $4,112, about 27% lower. Silver touched $121.62 on 29 January and then fell to around $56. Central banks bought 288.9 tonnes of gold in April–June, the highest second-quarter total on record and 62% above a year earlier, even as gold lost 14% in that quarter. Silver's sixth straight annual supply deficit widened to 46.3 million ounces from 40.3 million, despite a 53% price decline. The author sees gold returning to a reserve role and silver's shortfall driven by industrial demand, but the text cuts off before its full argument.
- Heliostar Metals Stock And The Road To 500,000 Ounces Of Gold
Heliostar, a gold and silver miner with two producing mines in Mexico, is targeting an increase in gold output from 50,000 ounces in 2026 to 500,000 ounces per year by 2030, a tenfold rise. The two operating mines are La Colorada, expected to produce over 20,000 ounces, and San Agustin, expected to produce over 30,000 ounces in 2026. The company is developing five other mines, with Ana Paula in Guerrero, Mexico, the furthest along, targeting about 101,000 ounces per year at an all-in sustaining cost of approximately $1,011 per ounce. The article notes major risks in gold mining, including heavy capital needs, gold prices, and the fact that La Colorada may have only about four years of mine life left when Ana Paula starts producing. A Simply Wall St community investor believes the stock could be 56% undervalued.
- Why Coeur Mining Bears Were Right Before The Drop
Coeur Mining shares lost 25.3% year to date including dividends, against a bullish case built on gold at $4,000, silver at $100, a 30% free cash flow margin and a 10x FCF multiple. The shares started the period at US$17.83; the bullish narrative put fair value at US$21.6 on 51.2% revenue growth and a 9.5% profit margin, while the cautious view set US$13.64 with 14.3% revenue growth and a 33.2% profit margin and flagged regulatory and jurisdictional risk. Q2 2026 revenue reached US$1.09b versus US$480.65m a year earlier, helped by the New Gold acquisition, and net income rose, but the net margin fell from 14.7% to 11.2%. The shares now trade at US$13.1, and the selected narrative assumes production growth, cost discipline and asset integration will sustain revenue and margin strength. The article concludes that the original thesis depended heavily on margins, not just metal prices or output.
Related markets
Latest news
- Options traders are betting heavily on these stocks ahead of election results
As prediction markets priced in a big Democratic win in Tuesday's midterm elections, options traders piled into clean-energy stocks, especially solar companies, even though the group has sold off for five months and most are down on the year. Volume in the Invesco Solar ETF (TAN) hit 40 times its usual level, with 99% of the more than 20,000 contracts traded by midday being calls, according to Cboe LiveVol data. Among individual stocks, SolarEdge Technologies traded at three times its average volume, with over 75% of trading in calls, ahead of its earnings report due before the bell tomorrow. Enphase Energy, which fell 20% after earnings last week but has since fully recovered, rose 9% on Tuesday, with volume twice average and an estimated 8,600 calls versus under 900 puts.
- CFTC Lets Traders Bet on Stocks With Crypto-Style Perpetual Futures
The U.S. Commodity Futures Trading Commission said equity perpetual futures, contracts tied to individual stocks with no expiration date, can now trade on CFTC-registered U.S. exchanges for the first time. These leveraged instruments have long been popular in crypto markets but were largely unavailable to U.S. traders until now. CFTC Chairman Michael Selig framed the move as part of a push to bring perpetual products onshore, following the agency's earlier clearance of Bitcoin perpetual futures for Kalshi this year. The stock contracts fall under joint CFTC and SEC oversight under a memorandum of understanding signed in March. Selig argued that regulated U.S. venues offer protections that offshore, often unregulated platforms lack.
- Would you let AI chatbots smear your competitors?
Speakers in this discussion examine how companies are finding ways to get AI chatbots to disparage their competitors. They note that as users shift from Google Search to chatbots, firms including financial advisers are trying to optimize their messaging so chatbots surface them, a practice called GEO as the counterpart to SEO. The panel argues that using chatbots to trash rivals could backfire on a company's reputation and turn an answer into an ad rather than an objective search result. They also warn that many users accept chatbot answers verbatim, unlike traditional search results that display multiple source links.
- Where Will Boeing Stock Be by This Time Next Year?
Boeing's backlog stands at $745 billion, including $612 billion in commercial airplanes, which the author sees as support for long-term income. Two 2027 catalysts are highlighted: a 737 MAX production ramp to 52 a month in the second half of the year, and certification and first delivery of the 777-9 variant of the 777X, a program delayed since 2020 that has tied up cash. Management expects 52 a month in the second half of 2027 and deliveries in the "mid-to-high 50s" in 2029. The author says these are reasonable assumptions though not guaranteed, and that certification would de-risk the program. The author concludes Boeing's stock could be materially higher next year.
- Eaton Just Dropped 16% in a Month. Is It Time to Sell, or Load Up?
Eaton (ETN) fell 16% over the past month, alongside GE Vernova (down 13%) and Vertiv (down 11%), after Meta Platforms raised the low end of its 2026 capital spending range to $135-$145 billion and turned free cash flow negative, raising investor concern about how the spending will be funded. Eaton's third-quarter report showed record sales of $8.9 billion, up 28%, and raised its 2026 adjusted EPS guidance to $13.70-$13.80. At Monday's close, the stock traded at 24x forward earnings, slightly below its five-year average of 25x and well under the 33x it reached in April. The author sees demand still accelerating and views the drop as a possible investment opportunity, while noting that hyperscaler spending updates are what to watch next.
- Sullivan: What the 2026 midterms could mean for energy investors
The author expects only limited near-term moves in energy stocks after the midterm elections, with investment implications mainly over the longer term. Even if Democrats win one or both chambers of Congress, the change is unlikely to meaningfully alter policy, though S&P Global says it could bring tougher oversight of agency decisions and affect tax incentives for long-term energy investments. At the state level, Gina Hinojosa in Texas supports a moratorium on new data center builds, Amy Acton in Ohio backs a conditional moratorium, and Vivek Ramaswamy calls for conditions on new construction. Bank of America says Georgia, Ohio, Oregon, Pennsylvania and Texas matter most for utility stocks, with Texas the most consequential after state environmental regulators halted data center permits. Power demand would likely stay at current levels even if some large projects are stalled or stopped, and U.S. oil production is at a record high.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.