WASHINGTON (Reuters) - President Donald Trump on Monday said he was clearing the way for the United States to exercise extra-terrestrial dominance by establishing a new, sixth branch of the military that he dubbed a “space force.”“Our destiny beyond the Earth is not only a matter of national identity, but a matter of national security,” Trump said at a White House event att...Read More
(Kitco News) - Gold pricesare modestly higher in early U.S. trading Monday, on a corrective,short-covering bounce after sharp losses Friday that saw the market hit asix-month low. There is also some risk aversion in the marketplace today thatmight also be giving gold some mild support. August Comex gold futures werelast up $3.70 an ounce at $1,282.20. July Comex silver was last up $0.07 at $16.55a...Read More
(Reuters) - The corporate tax cut passed by U.S. President Donald Trump and fellow Republicans that was in part designed to help dissuade U.S. companies from moving profits overseas may instead make the practice a lot more rewarding.That is because companies which shifted profits linked to U.S. sales, research or production previously had to pay U.S. taxes on the money at the rate of 35 percent wh...Read More
Spot copper concentrate treatment and refining charges (TC/RCs) jumped up sharply in the first half of June after smelters overcame resistance from traders and miners to sell at higher levels. Metal Bulletin's copper concentrates TC/RC index shot up by $3.40 per tonne / 0.34 cents per lb on Friday June 15 to its highest level since January, when the index normalization method was adjusted to...Read More
South32 will acquire the remaining 83% stake in junior zinc miner Arizona Mining for $1.3 billion in cash, the company said on Monday June 18. At an offer price of C$6.20 ($4.70) per share, South32 will pay a 50% premium over the Arizona Mining closing price on Friday June 15, it said. Arizona mining is the owner of the greenfield Hermosa project, which includes a zinc-lead-silver sulfide deposit...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump accused immigrants in Europe of “violently” changing the culture on Monday and said people should be wary of the same thing happening in the United States, as his administration faced heavy pressure to stop separating children from their parents at the U.S.-Mexico border.Democrats and some in Trump’s own Republican Party have str...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
SINGAPORE (Reuters) - China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States’ trade deficit with most of its major trading partners, including China, U.S. President Donald Trump said last week he was pushing ahead with hefty tariffs on...Read More
John RuwitchSHANGHAI (Reuters) - Goldman Sachs said it expected China to adopt a slightly easier monetary stance in the face of tit-for-tat tariffs between Beijing and Washington that, while likely to have limited immediate impact on the economy, were at risk of escalating.On Friday, the Trump administration imposed tariffs on $50 billion of imports from China, a move that came on top of hefty dut...Read More
G?(C)camines is to invite all of its joint venture partners to discuss the terms and conditions of their mining contracts with it in an effort to restructure them, the chairman of the Congolese state-run company said. According to Albert Yuma, the goal of the various discussions will be to ensure reasonable levels of capitalization and more shared decision-making mechanisms. "Otherwise, we will no...Read More
CloseGain/LossGold $1278.40-$2.10Silver$16.44-$0.15XAU82.38-0.24%HUI177.84-0.02%GDM620.62+0.02%JSE Gold1064.91+16.27USD94.79+0.02Euro116.21+0.12Yen90.57+0.14Oil$65.85+$0.7910-Year2.920%-0.005T-Bond144.5625+0.0625Dow24987.47-0.41%Nasdaq7747.03+0.01%S&P2773.75-0.21% The Metals: Gold waffled between $1282.40 and $1277.10 and ended with a loss of 0.16%. Silver chopped between $16.624 and $16.4...Read More
The Texas Bullion Depository officially opened for business this week. The creation of the facility represents a power-shift away from the federal government, and sets the foundation to undermine the Federal Reserve's monopoly on money.In June 2015, Gov. Greg Abbot signed legislation creating the state gold bullion and precious metal depository. The facility will not only provide a secure p...Read More
NEW YORK (Reuters) - Anxiety about a global trade war spurred demand on Monday for the Japanese yen and Swiss franc, while the euro remained under pressure due to a dispute in Germany’s governing coalition and the European Central Bank seen holding interest rates into 2019.The dollar was supported by some safe-haven demand and signals from the Federal Reserve that it would increase overnight...Read More
(Reuters) - The Dow Jones Industrial Average fell more than 200 points on Monday and the other major indexes were lower, as China’s retaliatory action against tariffs imposed by the United States reignited fears of a possible trade war between the world’s two biggest economies.Global financial markets have struggled since February in the face of signs that Washington and Beijing were h...Read More
Chinese silicon export prices continued to weaken over the past week amid slack demand from downstream producers, while the European market was once again unchanged due to a lack of significant trading activity.The Chinese silicon export market weakened further in the week ended Friday June 15, with prices continuing to fall amid limited buying interest, particularly from secondary aluminium alloy...Read More
Automating the Syama underground gold mine in Mali will reduce mid-tier gold producer Resolute Mining's mining costs there by 30%, according to CEO John Welborn. The company is also eyeing 30-40% production upside, too.Noel Dyson*John Welborn: Resolute's developing underground 'mine of the future' at Syama in Mali19 JUNE 201819/06/2018commentsshare Resolute this month signed a framewor...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday blamed migrants in Europe for what he inaccurately described as a rise in crime in Germany and for violently changing the culture, adding that what was happening with immigration there presented a similar threats to the United States.“The people of Germany are turning against their leadership as migration is rocking the already ten...Read More
* Worries over U.S.-China trade dispute support gold * Investors eye German squabble over immigration * U.S. dollar holds near strongest since November * Global stock markets fall * Technicals suggest gold to fall further(Updates prices, adds analyst comment, NEW YORK to dateline)By Renita D. YoungNEW YORK/LONDON, June 18 (Reuters) - Gold on Monday heldclose to 5-1/2-month lows, with a strong doll...Read More
One of the world's biggest mining equipment suppliers, Epiroc (STO:EPIA), has listed on the Stockholm stock exchange, cementing its separation from parent company Atlas Copco.Jacqueline HolmanEpiroc is now a listed entity on the Stockholm stock exchange18 JUNE 201818/06/2018commentsshareThe company's shares started trading on the Nasdaq Stockholm Monday, less than two months after Atlas Copco shar...Read More
GENEVA (Reuters) - British Foreign Secretary Boris Johnson said on Monday that government plans for a boost to spending on the state-run National Health Service (NHS) would come in part from savings generated by leaving the European Union.Prime Minister Theresa May pledged on Sunday to increase funding for the NHS by 20 billion pounds ($26.57 billion) after Brexit, though critics say the plans lac...Read More