Canada's Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) said Tuesday it has produced first gold and silver at its Cerro Moro mine, located in Argentina's Santa Cruz province.The Toronto-based miner, which began construction at Cerro Moro in 2015 and poured first dor?(C) last month, expects to finish building the mine this year.The company expects most of Cerro Moro's 2018 production in the second half o...Read More
Back in late May, I'd discussed why June would likely be a significant month for gold prices going forward. The spot price of gold was hovering around the $1,300 mark in the last week of May; it has since plunged nearly $50 month over month. A number of factors have contributed to its drop.Geopolitical breakthroughs made in JuneThe media salivated over the prospects of the North Korea-United State...Read More
Talking about a stock market crash is possibly the biggest taboo in investing circles - especially if it looks as though it might actually happen.But it has to be said: things are looking shaky. The TSX index fell more than 200 points at the start of the week, with only utility stocks keeping the side up, while stock markets everywhere wobbled on news of further protectionist developments. Comment...Read More
Mr. Michael Allen reportsNORTHERN EMPIRE HIGHLIGHTS DISTRICT-SCALE POTENTIAL OF STERLING GOLD PROJECT WITH NEWLY IDENTIFIED TARGETSNorthern Empire Resources Corp. has provided an updateon the status of its regional exploration program, including mapping, sampling, geophysics and new target identification at the Sterling gold project located in Nye county, Nevada.Michael G. Allen, president and ch...Read More
As we come into the end of the quarter, institutions are sizing up what's on the horizon. Stocks on Thursday fell sharply, especially the energy stocks, going into Friday's OPEC announcement.This sent the energy sector into a tailspin on Thursday ahead of the announcement and, in turn, caused the Dow 30 to break its minor support at the 50-day moving averages - now falling to test its 200-day mov...Read More
Dollar Closes at Highest Level This YearThe U.S. dollar index scored a tremendous gain, breaking above resistance and closing at the highest price point of 2018. Gaining almost 3/4 of a percent on the day, the dollar gained 0.679 points and closed at 95.025. Today's close is above all previous highs achieved throughout this year. On May 29, the dollar closed at 94.79, and on June 14 the dollar...Read More
Mr. Brett Heath reports METALLA ANNOUNCES PRODUCTION RESULTS AND GUIDANCE FOR FISCAL 2018 AND 2019Metalla Royalty and Streaming Ltd. has released preliminary production results for the 12 months ended May 31, 2018, of 519,791 ounces of attributable silver, where 429,315 ounces were sold and provisionally invoiced, and 90,476 ounces remained as inventory to be realized in the subsequent quarter. To...Read More
(Kitco News)- Investors should not buy the dip in the commodity sector asprice performance is skewed to the downside for the rest of the year, saidBarclays Commodities Research.The main drivers keeping commodities prices at bay aredeleveraging in China and weakening synchronous global growth, Barclays said ina recent research report. “The commodity rally that ensued in April has stalled s...Read More
Jun 27, 2018 Guest(s): Ranj Pillai Minister of Energy & Mines of the Yukon Government The territory of Yukon is ramping up capital expenditures in its resource industry, according to Ranj Pillai, the Minister of Energy & Mines of the Yukon Government. Yukon's resource sector, especially on the production side, is a significant contributor to the territory's gross domestic product, and the go...Read More
(Kitco News) - The gold exchange-traded funds (ETF) space just got more competitive, with investors now able to buy the lowest fee gold ETF in the U.S. market — SPDR Gold MiniShares Trust (AMEX:GLDM).GLDM is being launched in partnership by the World Gold Council (WGC) and State Street Global Advisors (SSGA), the team behind the SPDR Gold Shares (AMEX:GLD), which is the largest gold ETF in t...Read More
Mr. Chris Taylor reportsGREAT BEAR DRILLS NEW HIGH-GRADE GOLD DISCOVERY ON A 1.6 KILOMETRE STEP-OUT HOLE, AND ADDITIONAL NEAR SURFACE INTERVAL OF 40.30 METRES OF 1.73 G/T GOLD IN MAIN DRILL AREA AT DIXIE PROJECT, RED LAKE DISTRICTGreat Bear Resources Ltd. has provided gold results for a further 10 drill holes from its continuing 2018 drilling.A fully financed drill program consisting of 40 to 50 a...Read More
Bloomberg News/LandovProspective buyers look over a home for sale in San Diego, California. The numbers: U.S. pending home sales declined 0.5% to a reading of 105.9 in May, the National Association of Realtors said Wednesday. What happened: NAR's index, which tracks real-estate transactions in which a contract has been signed but the transaction hasn't yet closed, hit a four-month low in May....Read More
(Kitco News) - Gold and silver prices were moderately lower in early-afternoon U.S. trading Wednesday.Gold hit a six-month low and silver dropped to a seven-week low today. However,the gold market is now well oversold on a near-term technical basis and due fora decent corrective rebound very soon. Also, the big rally in crude oilrecently is a solid clue the raw commodity sector has bottomed out an...Read More
(Kitco News)- Gold futures have fallen tolevels that suggest an “oversold” market in the near term, yet technicallyoriented traders would still like to see some chart sign of a reversal higher.One measure that traders watchto see if the market has absorbed too much selling - meaning potential for atleast a short-term bounce - is the Relative Strength Index. As of Wednesdaymorning, thi...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
Mr. Michael Allen reportsNORTHERN EMPIRE HIGHLIGHTS DISTRICT-SCALE POTENTIAL OF STERLING GOLD PROJECT WITH NEWLY IDENTIFIED TARGETSNorthern Empire Resources Corp. has provided an updateon the status of its regional exploration program, including mapping, sampling, geophysics and new target identification at the Sterling gold project located in Nye county, Nevada.Michael G. Allen, president and ch...Read More
(Kitco News) - Gold prices were largely unchanged, but still trading near six-month lows after housing data showed that fewer consumers than expected committed to buying a home in May, according to the National Association of Realtors (NAR). The U.S. Pending Home Sales were down 0.5% in May, marking the fifth consecutive monthly decline on an annualized basis, the association said on Wednesday. Co...Read More
Mr. Brett Heath reports METALLA ANNOUNCES PRODUCTION RESULTS AND GUIDANCE FOR FISCAL 2018 AND 2019Metalla Royalty and Streaming Ltd. has released preliminary production results for the 12 months ended May 31, 2018, of 519,791 ounces of attributable silver, where 429,315 ounces were sold and provisionally invoiced, and 90,476 ounces remained as inventory to be realized in the subsequent quarter. To...Read More
Futuresspeculators may well have flipped to a net-short, or bearish, position in gold,says Commerzbank. The Commodity Futures Trading Commission releases a reporteach Friday showing the positioning of various categories of marketparticipants as of the prior Tuesday. The last “disaggregated” CFTC reportshowed that money managers were net-long, or bullish, by only 10,528 contracts as of...Read More
Gold is lower again this morning.Some believe the trade wars are influencing the precious metals, which could bean underlying reason. However, markets really don't care about the news, tradewars or anything else. They are driven by human emotion.Gold and other markets don'ttrade by themselves; humans make the trade. Many will argue that high-frequencyalgorithm trades control price, but the algos a...Read More