(Kitco News)- Bargain hunting is helping to support platinum pricesTuesday after the market dropped to its lowest level in 14 years.Overnight platinum futures dropped to $800 an ounce, a pricenot seen since December 2008. However, prices have modestly recovered withOctober platinum futures last trading at $844.30 an ounce, up almost 4% on the day.Platinum prices have dropped more than 18% since it...Read More
Mr. Mike Mutchler reportsAMARILLO GOLD ANNOUNCES COMPLETION OF THE SALE OF AN NSR ROYALTY TO ROYAL GOLD FOR USD $10.8 MILLION Amarillo Gold Corp. has completed the previouslyannounced sale of a perpetual 1.75-per-cent net smelter return royalty on the Mara Rosa gold project to RG Royalties LLC, a wholly owned subsidiary of Royal Gold Inc., for $10.8-million (U.S.). The proceeds of the sale are ex...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average fell on Tuesday in a holiday-shortened trading session. Stock markets closed at 1 p.m.Oil prices in the U.S. rose above $75 a barrel for the first time since November 2014, but were down slightly in afternoon trading. Facebook Inc. (FB) tumbled 2.2% after the federal investigation in...Read More
Despite recent weakness, gold remains thefavorite metal for Adrian Day, chairman and chief executive officerof Adrian Day Asset Management. Gold closed the second quarter around the lowfor the year as the wideningtariff disputes boosted the dollar, Days says. However, in the longer term, atrade war could hurt the greenback, he says. “Short term, many factors arenegative for gold: the strong...Read More
A new basic energy plan that sets goals for Japan's energy mix to 2030 and presents scenarios to 2050 was today approved by the Cabinet. Under the plan, nuclear will remain a key energy source, accounting for 20-22% of the country's electricity generation up to 2030.The Japanese government revises its energy plan about every three years. The plan is formulated based on the Basic Energy Policy Law...Read More
Magnox Limited - operator of former Magnox nuclear power plant sites in the UK - will become a subsidiary of the Nuclear Decommissioning Authority (NDA) from September 2019. Last year, NDA decided to terminate its contract with Magnox Ltd for managing the sites.Trawsfynydd, one of the sites managed by Magnox Ltd (Image: Magnox Ltd)Magnox, owned by Cavendish Fluor Partnership (CFP), is the manageme...Read More
Robin Emmott, Noah BarkinBRUSSELS/BERLIN (Reuters) - China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump’s trade policies at a summit later this month but is facing resistance, European officials said.In meetings in Brussels, Berlin and Beijing, senior Chinese officials, including Vice Premier Liu He and the Chinese government&rsqu...Read More
Newmont Mining Corp.(NYSE: NEM) says it has achieved commercial production at its Twin Creeksunderground expansion project in Nevada. The Twin Creeks underground mine willadd between 30,000 and 40,000 ounces of gold production per year at all-insustaining costs of between $650 and $750 per ounce for its first fiveyears of production, Newmont says. The new ore will also allow Newmont toprocess...Read More
GENEVA (Reuters) - Major U.S. trading partners including the European Union, China and Japan voiced deep concern at the World Trade Organization (WTO) on Tuesday about possible U.S. measures imposing additional duties on imported autos and parts.Japan, which along with Russia had initiated the discussion at the WTO Council on Trade in Goods, warned that such measures could trigger a spiral of coun...Read More
NEW YORK (Reuters) - The dollar fell on Tuesday in thin pre-holiday trading, as investors consolidated recent gains and focused less on trade tensions, raising the market’s risk appetite and prompting some flows into other currencies such as the euro and Australian dollar.Ahead of the U.S. Independence Day holiday on Wednesday, market sentiment also improved after the Chinese central bank mo...Read More
NEW YORK (Reuters) - A federal judge on Tuesday ordered President Donald Trump’s administration to hand information about its plan to ask people filling out the 2020 census form whether they are U.S. citizens over to a group of states and cities suing the administration over the question.At a hearing in Manhattan federal court, U.S. District Judge Jesse Furman also said he would likely deny...Read More
Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling 1.1% over the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions. "The base metals complex this morning remains uninspiring, with most metal prices struggling to attract dip-buying interest. The LME zinc price is still trading...Read More
Before hitting rock bottom, wemust admit there is a problem. We have certainly seen that the problem in goldtoo many was bottom fishing and not admitting there was a problem. Gold appearsto have found the lows at $1,240 and is trading higher this morning.This could be just a dead-catbounce or a short-covering rally, but the fact that the lows held could be thestart of something. We never know for...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
PARIS (Reuters) - Societe Generale (SOGN.PA) will buy Commerzbank’s (CBKG.DE) derivatives and asset management businesses in a move the French bank said will boost its Lyxor funds division and raise its profile in Germany, the euro zone’s biggest economy.Still partly owned by the German government, Commerzbank is in restructuring mode as parts of its business have struggled amid weak m...Read More
DETROIT (Reuters) - U.S. consumers put a high value on fuel economy when buying a new vehicle, according to a Reuters/Ipsos opinion poll, as automakers lobby the administration of President Donald Trump for relief from mileage requirements enacted by his predecessor.In a Reuters/Ipsos poll taken May 31 to June 15, 41 percent of respondents said mileage was most important to them when buying a new...Read More
BUCHAREST (Reuters) - The European Central Bank’s chief economist said on Tuesday he was confident inflation in the euro zone would continue accelerating toward the ECB’s target of just under 2 percent even after the end of its massive bond purchases.Peter Praet set out the reasons for the ECB’s recent decision to stop adding to its 2.6 trillion-euro ($3 trillion) stock of bonds...Read More
Base metals on the London Metal Exchange edged higher during morning trading on Tuesday July 3, supported by a downtick in the dollar index while turbulent trade relations between the United States and major economies continue to destabilize commodities. "London has seen a re-emergence of the systematic sell programs after the poor closes last night, where most [base metals] settled on the session...Read More
Bob Moriarty ArchivesJul 3, 2018I’ve been working on a new book about investing in junior resource stocks for quite a while now. I haven’t actually written anything but I have been aggressively thinking about actually writing. Someday.When I do a book, I’m like a cow chewing a cud. I munch and munch and eventually I sit down and start typing. I’ve pretty much got the book w...Read More
Beginning in early Spring,gold and silver faced two serious headwinds: Seasonality - that is, the annual decline in bullion demand from China and India once wedding season ends - and the internal structure of the futures markets, where the big players in gold had lined up in ways that historically point towards weak prices for a while. Both of these negatives are still in place (hence the smack-do...Read More