Workers at Cobre Panama, the only major copper mine scheduled to come onstream in 2018, have gone on strike, operator First Quantum said on Wednesday March 14."A small number of personnel and their outside union leadership" downed tools on Friday last week, according to a company statement.Although the dominant union is not involved in the strike, development can only be carried out in two of the...Read More
Gold should have performed a lot better over the past two years - and especially the past two months. That's because both periods were characterized by the factors that, according to conventional wisdom, should cause gold to perform well: higher inflation and stock-market turmoil. Because gold GCJ8, +0.14% did not do well suggests that we should take a critical look at what makes gold a good inve...Read More
Base metals prices on the London Metal Exchange were on divergent paths at the close on Wednesday March 14, with copper leading the gains. The three-month zinc price was the worst affected today because prices were over 2% lower at the close - fresh deliveries into LME-listed warehouses in New Orleans put pressure on prices. "Zinc is down on account of another 10,000 tonne increase in LME stock ho...Read More
Jeff Mason, Makini BriceWASHINGTON (Reuters) - U.S. television commentator and conservative economic analyst Larry Kudlow will replace Gary Cohn as President Donald Trump’s top economic adviser, the White House and Kudlow said on Wednesday, adding another loyalist to Trump’s inner circle.Kudlow, a Republican who served as an economic adviser to former President Ronald Reagan in the 198...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average remains more than 1,800 points below its all-time high set on Jan. 26.The Dow and S&P 500 finished lower for a third straight session.The Nasdaq has declined for two straight days after a seven-session winning streak. Wall Street Overview Stocks finished lower on Wednesday, March 14, as investors debated...Read More
Yesterday we wrote that gold hashad trouble holding a rally and Tuesday proved our point. Although gold ralliedabout $6, the rally was weak and not convincing. If gold was strong, the rallyshould have been stronger, but all it really did was hover around the bottomend of the range.With all of the turmoil and theequities experiencing a turnaround Tuesday, I would have expected a betterrally out of...Read More
Jericho Oil (JCO.V) has reported a preliminary result from the first well drilled on its Blaine county acreage, in a joint venture with the private partner and private equity backed Staghorn Petroleum.The first well was targeting the Meramec formation using a horizontal well with a length of 1 mile and immediately hit the sweet spot. The initial flow rate in the first 24 hours was approximately 95...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
CloseGain/LossGold $1325.20-$0.60Silver$16.55-$0.02XAU79.79+0.11%HUI174.19-0.04%GDM607.88+0.17%JSE Gold1077.28-12.85USD89.74UNCHEuro123.67-0.23Yen94.14+0.26Oil$60.96+$0.2510-Year2.817%-0.030T-Bond145.875+0.71875Dow24758.12-1.00%Nasdaq7496.81-0.19%S&P2749.48-0.57% The Metals: Gold gained $4.30 to $1330.10 in Asia before it fell back to $1321.60 in midmorning New York trade, but it then chop...Read More
Miners will usually shout about a project's resource potential and only down the track will processing come into the investment pitch. Velocity Minerals (CN:VCL) has gone the other way; finding a mine in Bulgaria with apparently strong processing but poor mining operations.The hills are alive (with the sound of a Land Cruiser): Velocity's partner Gorubso's projects are all in the same area...Read More
- Gold Cup at Cheltenham - 'The Olympics' of the European horse racing calendar - Gold Cup trophy contains 10 troy ounces of gold - worth ?9,000- ?620 million bets on horses, 230,000 pints of Guinness will be drunk, 9.2 tonnes of potato eaten - Since the 5th century BC, gold has been the ultimate prize to award champions and gold has been constantly and universally awarded as top prize...Read More
Brio Gold Inc. (TSX: BRIO), which has agreed to be bought by Leagold MiningCorp., reports a net loss of $8.9 million in the fourth quarter that wasnarrower than a $22.1 million loss in the year-ago period. The adjusted losswas $4.6 million, compared to $28.9 million. Gold production in theOctober-December period was 40,350 ounces, down 20% year-on-year. Forfull-year 2017, the net loss was $21...Read More
Political developments in the USA will prevent the US dollar from sharp gains before the Federal Reserve meeting next week. Inflation meeting the Federal Reserve's target implies that a minimum of three interest rate hikes will be there. The fourth interest rate hike will be dependent on energy prices. Gold and silver are firm due to reduced chances of four interest rate hikes this year. Trump...Read More
Teck Resources and Asian smelters have agreed to cut annual lead concentrate treatment charges (TCs) by 28% in 2018 supply contracts, sources with knowledge of the deals told Metal Bulletin.The deals bring lead concentrate TCs, fees paid to smelters for the costs of processing concentrates into metal, down to $99 per tonne from $138 per tonne last year. Market sources also noted a drop in containe...Read More
NEW YORK (Reuters) - U.S. stocks fell on Wednesday after President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war that could raise costs and hurt overseas sales for U.S. companies.The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, the White House said Wednesday.Trump is looking to levy tariffs on up t...Read More
D.C. changes stoke trade fears; U.S. crude stockpile growsBenchmark bond yields tighten; copper advances on China dataLara Rhame of FS Investment Solutions and Jeff Geller of JPMorgan Asset Management expect more market volatility. U.S. stocks fell for the third straight day after lackluster retail sales figures fanned concern that consumer spending is cooling, while traders awaited next week ...Read More
Sanction by Health Canada more than triples Aphria Inc.'s (TSX:APH) production capacity of medical cannabis from 9,000 kg to 30,000 kg annuallySmallCapPower | March 14, 2018: Aphria Inc. (TSX:APH) announced on Tuesday the receipt of a license amendment from Health Canada, providing Aphria with additional production space of 200,000 square feet, as part of its Part III expansion at its facility in...Read More
SAO PAULO (Reuters) - World Trade Organization Director-General Roberto Azevedo said on Wednesday that Brazilian government officials tell him they have not ruled out any response to U.S. steel tariffs and may resort to the WTO to settle the dispute.Speaking to reporters at the World Economic Forum on Latin America, Azevedo said the “potential systemic risks” of reactions to the tariff...Read More
Workers at Cobre Panama, the only major copper mine scheduled to come onstream in 2018, have gone on strike, operator First Quantum said on Wednesday March 14."A small number of personnel and their outside union leadership" downed tools on Friday last week, according to a company statement.Although the dominant union is not involved in the strike, development can only be carried out in two of the...Read More
Torex Gold's ELG Mine Complex in southwest Mexico. Source: Torex Gold Resources Inc."With 80% of production expected to come from the El Limon pit area, the company is running out of ore," Scotiabank analyst Trevor Turnbull said in a report. "If the current situation persists, it is inevitable that mill feed will run out within weeks unless employees can return in full force or the company receive...Read More