Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Friday production fell sharply again in the second quarter of the year as a long-dragged row with the East African nation's government over taxes continues to hit the miner's bottom line.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), said gold production for the three months to June dropped 36% to 133,778 ounces as operat...Read More

(Kitco News) - After seeing a minor reprieve this week on slightly weaker U.S. dollar, the gold market’s main concerns are now the potential economic fallout from the escalating trade war rhetoric and the hawkishness of the Federal Reserve’s rate hike path.“Uncertainty is the new normal,” RBC Capital Markets commodity strategist Christopher Louney told Kitco News on Friday....Read More

Jul 06, 2018 Guest(s): Neils Christensen Neils Christensen, editor for Kitco News, joins the exclusive "Sourtoe Cocktail Club" club as he samples the Sourtoe Cocktail, the famed drink from Dawson City. The Sourtoe Cocktail is a shot of whiskey accompanied by a mummified human toe. Concocted in 1973 at the Downtown Hotel in Dawson City, the drink is estimated to have been sampled by more than 60...Read More

(Kitco News)- WallStreet and Main Street have both flipped from bearish to bullish short-termforecasts for gold prices, based on the Kitco News weekly survey.Goldis headed for a small gain in a holiday-thinned week, with Canada Day and theU.S. Fourth of July both occurring in the same week. The metal held up Fridayeven though U.S. nonfarm payrolls came in slightly stronger than expectations,rising...Read More

Jul 06, 2018 Guest(s): Bernie Kreft Prospector, Star of "Yukon Gold" Bernie Kreft, prospector and star of the reality TV show, "Yukon Gold," weighs in on the Yukon's potential for miners, especially placer mining. "There's undoubtedly a lot of placer gold left," Kreft told Kitco News on the sidelines of the Yukon Mining Investment Conference in Dawson City. "Placer, probably not as much of a big...Read More

Michael Martina, David LawderBEIJING/WASHINGTON (Reuters) - A U.S.-China trade fight resulting in duties on $34 billion worth of each other’s imports was seen dragging on for a potentially prolonged period, as Washington and Beijing flexed their muscles with no sign of negotiations to ease tensions.Friday marked the start of the U.S. duties that were promptly met with retribution by China, a...Read More

(Kitco News) - Gold and silver prices areslightly lower in early U.S. trading Friday. The just-released U.S. jobs reportwas deemed upbeat, but precious metals prices saw little reaction to the newsand saw their mild overnight losses maintained. Augustgold futures were lastdown $1.90 an ounce at $1,257.00. July Comex silver was last down $0.022 at $16.075an ounce.Theclosely followed U.S. employment...Read More

(Kitco News)- Theamount of gold held by global exchange-traded funds and similar products fellby 49.3 tonnes to 2,434.3 tonnes in June, the World Gold Council reportedFriday.InU.S. dollar terms, assets under management fell 2.1% from May to $97.9 billion.“Investorsseemed to shrug off poor equity-market performance and escalating global tradetensions, pushing the gold price down by 4.2% in Ju...Read More

Since goldbottomed at the $1050 region in late 2015 many analysts, myself included, havebeen anticipating a breakout above strong resistance at the $1375 level. However,this past April the yellow metal failed for the third time at this area and hasnow broken down with a monthly basis close below critical support at $1260 onJune 29th. Furthermore, bullion had its worst quarterly performancesince Q4...Read More

(Kitco News) - There is a significant recovery in gold demand happening within the technology sector, according to a study released by the World Gold Council (WGC), which notes that gold has a big role to play in the electrification of vehicles.Gold’s technology demand accounted for more than 380 tonnes of the yellow metal used annually over the past decade, which is nearly 13% more than the...Read More

Urenco is to provide enrichment services to EDF to support the recycling of uranium recovered from used nuclear fuel in French nuclear reactors under a new contract announced yesterday.Dominique Mini??re, EDF Group senior executive vice president for nuclear and thermal, and Urenco CEO Thomas Haeberle, at the signing ceremony (Image: Urenco)The "high value and long-term" contract covers the enrich...Read More

Here Are 3 Hot Things to Know About Stocks Right Now The Trump administration imposed tariffs on $34 billion of Chinese imports and China responded in-kind.The U.S. added 213,000 new jobs in June, topping economists' forecasts of 195,000. The unemployment rate rose to 4.0% from 3.8%.Biogen Inc. (BIIB) jumped 19% following positive results from a study of its Alzheimer's treatment. Wal...Read More

BEIJING/WASHINGTON (Reuters) - The United States and China slapped tit-for-tat duties on $34 billion worth of each other’s imports on Friday, with Beijing accusing Washington of triggering the “largest-scale trade war” as the world’s two biggest economies sharply escalated their conflict.Hours before Washington’s deadline for the tariffs to take effect, U.S. President...Read More

After a two-year period of super-fast growth, the expansion of London Metal Exchange warehouses in Asia slowed significantly over the past year. But what lies behind the change - especially as LME storage space in Europe has also continued to dwindle? Warehouse space at the nine LME delivery locations in Asia grew by just 3% to 1,608,813 sq m  in the year to June 2018, largely due t...Read More

NEW YORK, July 6 (LPC) - US bank loan funds saw the first week of outflows after 19 consecutive weeks of inflows as market volatility triggered by the trade war dented investors’ appetite for risk assets.Investors pulled US$184.2m from loan funds in the week ending July 4, according to Lipper. This marked the first week of outflows from loan funds since the week ending February 14.The trade...Read More

Nickel prices on the London Metal Exchange fell by 1.7% at the close of trading on Friday July 6, ending the week more than 4% lower while ongoing macroeconomic pressure continues to hinder the complex. Closing below $14,000 per tonne for the first time since April 13, nickel prices continued to suffer against a backdrop of falling LME inventory. Total LME nickel stocks are at their lowest si...Read More

WASHINGTON (Reuters) - The U.S. economy created more jobs than expected in June, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases this year.Nonfarm payrolls rose by 213,000 jobs last month as manufacturers stepped up hiring, the Labor Department said on Friday. The economy added 37,000 more jobs in April...Read More

Can gold keep rallying? Thesimple answer is yes, although of course, there is the jobs number at 8:30 a.m.EDT that can be a help or hindrance. According to the charts, gold has room torun another $20 before seeing any real resistance. That move can come slowly orall at once, depending on what the job numbers say today.The action in the metals has beenbetter over the last week and the rally should...Read More

Katoen Natie Singapore (Jurong) Pte Ltd has withdrawn from London Metal Exchange warehouse services with immediate effect, with the operator and name of the shed switching to Henry Bath Singapore, the LME said on Friday July 6. The Belgian-based logistics provider had listed Singapore as an LME-approved warehouse in November 2016 and had only 75 tonnes of stock in May, according to the latest inve...Read More

Key data from the pricing session in the week ending Friday July 6. China  Most of the ferro-chrome smelters in Inner Mongolia that were idled have restarted, which weighed on Chinese ferro-chrome prices.  Increased domestic supply subdued demand for imported charge...Read More