Trevor HunnicuttNEW YORK (Reuters) - The fact that investors are siphoning money out of stocks is not helping gold, with the safe-haven asset suffering as people wary of a global trade war flock to the U.S. dollar.U.S. fund investors pulled $1 billion from commodity funds, including those invested in the precious metal, the largest withdrawals since July 2017, Investment Company Institute (ICI) da...Read More
Mr. Walter Coles reportsSKEENA INTERSECTS 16.02 G/T GOLD OVER 12.25 METRES AT SNIPSkeena Resources Ltd. has released additional assay results from the phase 2 underground drilling program at the company's 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia.The phase 2 drilling program totalling 11,000 metres is being performed from surface and underground utiliz...Read More
(Kitco News)- Although there are logicalreasons behind gold’s sharp sell-off, the market has not entered a new bearmarket, according to analysts at global bank ScotiaMocatta.In their July precious-metalsreport, the analysts said that it’s a little surprising that gold hasn’t caughta safe-haven bid as geopolitical tensions have risen sharply as a result of anescalating global trad...Read More
The US Department of Energy (DOE) has selected nine projects to receive almost USD20 million in funding for cost-shared research and development for advanced nuclear technologies. These awards are the second group selected under a DOE Office of Nuclear Energy's funding opportunity for cost-shared projects to develop innovative, industry-driven reactor designs and accompanying technologies with hig...Read More
British engineering group Rolls-Royce has signed a memorandum of understanding with Canada's Bruce Power to deepen their cooperation in digital technology. The agreement expands the two companies' T-104 programme, under which Rolls-Royce's T-104 technology has been implemented to optimise the operational lifetime of Bruce Power's nuclear power plants as part of Bruce's Life-Extension Programme.The...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
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average tumbled Wednesday after the U.S. threatened additional tariffs on $200 billion worth of China-made goods. Leading decliners Wednesday on the blue-chip Dow were Caterpillar Inc. (CAT) , Chevron Corp. (CVX) and DowDuPont Inc. (DWDP) .Pfizer Inc. (PFE) fell after the drugmaker sai...Read More
Tin premiums in Europe have softened over the week to Tuesday July 10 after dwindling demand began to take root over the summer period, while premiums in the United States and China held steady on abundant supply and minimal spot activity. Supply flows unsettle European tin market Rotterdam 99.9% tin premiums soften as demand weakens China, US premiums flat Tin premiums fall again in...Read More
Lead prices on the London Metal Exchange fell over 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Lead prices on the London Metal Exchange fell by more than 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Fueled...Read More
Commentary courtesy of srsroccoreportPOSTED BY SRSROCCO IN MINING, NEWS, PRECIOUS METALS ON JULY 10, 2018Is the U.S. Government hiding a massive gold deposit in the Chocolate Mountains in California? Well, according to a few top-notch conspiracy theorists, the U.S. Congress passed the Desert Wilderness Protection Act that has cordoned off this vast gold discovery from the public. Unfort...Read More
A muscular U.S. dollar is pressuring goldprices, says BMO Capital Markets and MKS (Switzerland) S.A. As of 8:35 a.m.EDT, the September dollar index was 0.131 point higher to 94.020. Meanwhile,Comex August gold was down $4.80 to $1,250.60 an ounce. “Gold prices have also suffered from the stronger dollar,dropping back to ~1,250/oz while silver dipped back below $16/oz,” BMO says.Alex Th...Read More
An open import arbitrage in China helped support nickel premiums in the week to Tuesday July 10, while premiums were unchanged in Europe and the United States. Open import window push premiums in China higher Premiums unchanged in Europe in quieter summer season US demand and premiums stable Chinese premiums up amid open import window Shanghai-bonded Nickel premiums rose at the l...Read More
NEW YORK (Reuters) - A struggle by employers to fill jobs shows the U.S. economy is strong, and the rise in housing and stock prices is not a sign of a risky build-up in leverage in the financial system, the head of the New York Federal Reserve Bank said on Wednesday.“Employers are now struggling to fill job openings,” said New York Fed President John Williams, calling it a sign of an...Read More
Today's Wall Street Journal contains a couple of charts that illustrate a relationship that's not getting much media attention these days: The fact that tightening labor markets are forcing companies to raise wages, in the process squeezing their own profit margins. Historically this margin compression has been either a cause of or contributor to cyclical turning points — in other words it c...Read More
B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG; NSX: B2G) reports that second-quarter gold productionwas roughly double the same period a year ago as the company’s new Fekola goldmine in Mali exceeded expectations. Consolidated output was a quarterly record 240,093 ounces, a jump of 98% (or 118,645ounces) from the year-ago quarter and also 7% (or 16,308 ounces) above budget,B2Gold says. The comp...Read More
On Tuesday afternoon, PresidentTrump issued a new round of tariffs on $200 billion of Chinese goods, sendingequities to a 200-point sell-off in less than five minutes. This happened at4:55 p.m. EDT as the extended futures session was about to close.The selling continued overnight,adding another 200 points to the downside with the VIX popping 1.00 higher.While all this action was going on, gold dri...Read More
Largo Resources Ltd has reached yet another milestone at the Maracas Menchen mine after achieving a new average daily production record of 29.4 tonnes of vanadium pentoxide (V2O5) per day during the month of June.The Toronto, Canada-based vanadium producer saw total production reach 2,458 tonnes of V2O5 at the Brazilian mine during the second quarter of 2018, up 13% from 2,183 tonnes in the same y...Read More
(Kitco News)- Goldprices remain under pressure, and are seeing little reaction tohotter-than-expected producer inflation pressures.Wednesday,the U.S. Labor Department said its Producer Price Index (PPI) rose 0.3% in Junefollowing an increase of 0.3% in May; the data was stronger than expected witheconomists' forecasting an increase of 0.2%. For the year, producer prices increased by 3.4%. “T...Read More
Largo Resources Ltd has reached yet another milestone at the Maracas Menchen mine after achieving a new average daily production record of 29.4 tonnes of vanadium pentoxide (V2O5) per day during the month of June.The Toronto, Canada-based vanadium producer saw total production reach 2,458 tonnes of V2O5 at the Brazilian mine during the second quarter of 2018, up 13% from 2,183 tonnes in the same y...Read More
WASHINGTON (Reuters) - When Donald Trump first spoke to Russian President Vladimir Putin after becoming U.S. president, he reviled the “New Start” treaty - a pillar of arms control - as a bad deal for America.When the two meet in Helsinki on Monday they are likely to touch on whether to extend that agreement to 2026 and what to do about another pact, the Intermediate-Range Nuclear Forc...Read More