(Kitco News) – It is incredible how fast a year can fly by. Once again, the Kitco News team is getting ready to launch its annual Outlook Series to help gold investors navigate what are expected to be turbulent financial markets in 2022.
Kitco News’s Outlook feature will be launched on Monday. We are already compiling stories to give you the best information available.
Not to give you any spoiler alerts, but so far, the general sentiment among some of the biggest international banks is that gold is expecting to see renewed investor demand as inflation continues to heat up. This is good news for what has been a disappointing year for some.
Looking to next year, many economists are expecting inflation pressures to peak in the first half of 2022 and then moderate in the second half of the year; however, consumers can expect to see inflation well above historical norms. Economic forecasts look for inflation to trend between 4% and 6% next year.
Economists and market analysts also see 2022 as an important transition year as the Federal Reserve looks to tighten its monetary policies. Because of the growing inflation threat, markets expect the U.S. central bank to raise interest rates as early as June. Surprisingly, markets are pricing in a total of four rate hikes next year.
So what does all of this mean for gold? Before gold bulls start to swoon over the idea of four rate hikes next year, it is important to look at the big picture. Most analysts see current market expectations as too aggressive. Pretty much every economist that we have talked to in recent weeks does not expect the Federal Reserve to get in front of the inflation curve.
There is still a lot of uncertainty in the global economy. The last thing any central bank wants to do is risk making a policy mistake.
According to many analysts, real interest rates are going to remain in low to negative territory next year because of inflation. The precious metal, which has had a lackluster 2021, is expected to see some renewed interest as investors try to protect their wealth and purchasing power.
So, stay tuned to Kitco News to see what’s in store for 2022.
TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.
The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.
Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.
Consolidated comparable sales were up 0.3 per cent.
On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.
The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.
The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.
Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.
Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.
On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.
The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.
The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.
Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.
In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.
On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.
The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
