Kazakh uranium producer NAC Kazatomprom has made its first delivery to London-based Yellow Cake plc under a long-term contract between the two companies. The sale follows Yellow Cake's floatation on the London Stock Exchange's AIM market and represents more than a quarter of Kazatomprom's 2018 uranium production.Yellow Cake was founded by Bacchus Capital as a specialist company to operate in the u...Read More

The Bangladesh Atomic Energy Commission (BAEC) has formally received a design and construction licence for Rooppur unit 2. It received an equivalent licence for unit 1 in November last year and construction work started on that unit soon afterwards. The licence for Rooppur unit 2 has been issued (Image: Rosatom)ASE Group, the engineering subsidiary of Russia's Rosatom, announced issuance of the l...Read More

Gulsen Solaker, Tulay KaradenizANKARA (Reuters) - President Tayyip Erdogan pledged to build a “strong Turkey” with a powerful defense industry and expanding economy as he was sworn in on Monday with sweeping new powers over a country he has dominated for 15 years.Assuming the new executive presidency he has long fought to establish, Erdogan took the oath of office in parliament before...Read More

ONDON (Reuters) - British Prime Minister Theresa May appointed Jeremy Hunt as foreign minister on Monday after predecessor Boris Johnson resigned in protest at the government’s plans for a close trading relationship with the European Union.“The Queen has been pleased to approve the appointment of the Rt Hon Jeremy Hunt MP as Secretary of State for Foreign and Commonwealth Affairs,&rdqu...Read More

Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More

Base metals on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, led by a 1.9% price surge in nickel and aluminium prices. Edging back over $14,000 per tonne throughout the day, nickel prices reached a daily high of $14,240 per tonne after closing at their lowest point since May 10 on Friday.The metal experienced a sharp sell-off last wee...Read More

LONDON (Reuters) - Boris Johnson stepped down as Britain’s foreign minister on Monday, warning that Britain will end up like a colony to the European Union after the government announced plans for a close trading relationship with the bloc after Brexit next year.Below is the text of his resignation letter to Prime Minister Theresa May, a copy of which Johnson released on Twitter.Dear Theresa...Read More

SAN FRANCISCO (Reuters) - The economic boost from U.S. President Donald Trump’s $1.5 trillion tax cut will probably fall well short of most analysts’ “overly optimistic” expectations, two economists wrote Monday in the San Francisco Federal Reserve Bank’s latest Economic Letter.Instead of the boost to GDP growth this year of about 1.3 percentage points estimated by th...Read More

* Spot gold hits highest since June 26 * Palladium touches strongest since June 21 (New throughout, updates prices, market activity and comments;adds second byline and NEW YORK dateline)By Renita D. Young and Eric OnstadNEW YORK/LONDON, July 9 (Reuters) - Gold rose on Monday,touching its highest in two weeks as the dollar weakened and theChinese yuan recovered from June's lows, and gold stayed hig...Read More

Juli??n Gonzalez has left his position as global head of refined zinc and lead trading at Trafigura, being replaced by Kyen Resources' European chief Matt Hadfield who will start next week, sources close to the company told Metal Bulletin. Gonzalez started in a junior-middle office role at Trafigura in 2009 and worked his way through the ranks to head up the key position. Hadfield will be re-...Read More

On a recent site visit to Ecuador, PI Financial analysts Chris Thompson and Gary Sidhu saw the importance of being a first mover in an emerging district ripe for discovery. The four mining companies visited were INV Metals Inc., Lundin Gold Inc., Lumina Gold Corp. and SolGold PLC. All have amassed large and strategically important land packages.The price of gold has fallen, prompted by fading geop...Read More

Comex copper prices bounced back from a one-year low in US morning trading on Monday July 9, with a softer dollar and equity recovery supporting the base metals complex. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 2.15 cents or 0.8% to $2.8455 per lb. Last week, the red metal traded at the lowest point since July 2017. "The outlook across the...Read More

BEIJING (Reuters) - Major Chinese ports have started clearing goods from the United States on Monday, as new tariffs on U.S. imports have gone into effect, three sources told Reuters, as a trade spat between Beijing and Washington escalated into an outright war last Friday.Customs officers had delayed the clearance of some U.S. goods on Beijing's penalty list last Friday, as they waited for offici...Read More

(Kitco News)- Gold and silver prices are moderately higher in early U.S. trading Monday, supportedin part by a slipping U.S. dollar index that fell to a three-week lowovernight. Some bargain hunting in the cash market and short covering in thefutures market are also featured, following recent losses that drove the twoprecious metals prices to multi-month lows last week. August gold futures werelas...Read More

Metal Bulletin presents a timeline of key dates and events related to the manganese flake rally this year and the reasons behind the moves.Manganese flake prices are now trading at levels last seen in July 2012 amid ongoing production curtailments at major Chinese producer Ningxia Tianyuan, with the impact now spreading into the ferro-chrome and selenium markets. Metal Bulletin's assessment for in...Read More

Perhaps the best contrarian indicator for the directional movement of gold and silver is Dennis "Wrong Way" Gartman, who recently announced that he was dumping all of his gold "positions" (note: Gartman's "positions" are theoretical paper portfolio trades):As for gold, we have clearly held on far, far, far too long to having owned gold...clearly we've been wrong to have erred bullishly of gold i...Read More

Chinese ferro-chrome prices plunged late last week after ferro-chrome smelters in the major production hub of Inner Mongolia restarted operations, while muted buyer interest and uncertainty weighed on cif China UG2 chrome ore and charge chrome indices. Spot domestic ferro-chrome prices drop in China  Chrome ore and charge chrome cif China dip  Alloys in South Korea and Japan unmoved&nbs...Read More

(Reuters) - U.S. stocks rose on Monday, with bank stocks leading third day of gains in a row after strong U.S. jobs data from last week helped investors brush aside trade concerns.The S&P financial index rose 1.3 percent, providing the biggest boost to the main S&P index. But gains were widespread, with technology, energy, industrials, consumer discretionary and healthcare stocks rising.Th...Read More

The Federation of Copper Workers in Chile has rejected copper producer Codelco's response to a threatened strike at its Chuquicamata copper mine, and will form a new group to meet next week and discuss its next steps, the federation's board of directors said on Monday July 9.The move follows a meeting of the federation on Friday at which it discussed a potential stoppage by trade unions 1, 2 and 3...Read More

LONDON (Reuters) - Foreign Secretary Boris Johnson quit on Monday over Prime Minister Theresa May's plans to leave the European Union, the second resignation in a day leaving the British leader's Brexit plans all but in tatters.After a day when the foreign secretary canceled meetings for crisis talks at his official residence in central London, Johnson decided to walk from his job - just hours aft...Read More