(Kitco News) - Gold and silver prices were solidly lower in midday U.S. trading Wednesday. A rebound inthe U.S. dollar index at mid-week and an uptick in investor risk appetite todayhad the sellers of the metals in control. April Comex gold futures were lastdown $15.60 an ounce at $1,326.40. May Comex silver was last down $0.276 at$16.265 an ounce.Whileworld stock markets were mostly lower overnig...Read More
Mr. Derek White reportsASCOT RESOURCES ANNOUNCES CHANGE TO ITS FISCAL YEAR-ENDAscot Resources Ltd. is changing its fiscal year-end to Dec. 31, from its current fiscal year-end of March 31. The notice for the year-end change required under National Instrument 51-102 has been filed under the company's profile on SEDAR.Ascot believes this will better align the company's financial reporting periods to...Read More
(Kitco News)- How does one create as much gold that weighs about as muchas the earth? Simple: bring two neutron stars together. Last summer, astronomers witnessed a powerful collisionbetween two neutron stars, which saw the creation of precious metals like goldfrom the explosion. Months after reviewing the massive amounts of data gatheredafter the event, scientists now have a better understanding...Read More
The numbers: Pending-home sales rose 3.1% to 107.5 in February, the National Association of Realtors said Wednesday. Economists had forecast a 3.0% increase. What happened: NAR's index, which tracks real-estate transactions in which a contract has been signed but the transaction hasn't closed, helps foreshadow sales of previously-owned homes. It fell to a more-than three year low in January, an...Read More
TORONTO Reuters) - Canadian mining magnate Peter Munk, who built Barrick Gold Corp from a single mine into the world's largest producer of gold, has died at the age of 90, the company said on Wednesday.The blunt-spoken miner became renowned for his philanthropy, donating millions to healthcare and at universities in Toronto and Israel. Munk was invested as a Companion to the Order of Canada, the c...Read More
The Japanese nuclear regulator has approved the Japan Atomic Energy Agency's (JAEA's) plans for decommissioning the Monju prototype fast breeder reactor (FBR). JAEA submitted the plan - which had earlier been approved by a government-appointed team - to the Nuclear Regulation Authority (NRA) in December last year.The Monju FBR (Image: JAEA)A key part of Japan's nuclear energy program, the 280 MWe...Read More
In last week's Investor Alert, our investment team shared with you a report from Morgan Stanley that says bitcoin's price decline since December mimics the Nasdaq tech bubble in the late 1990s. This isn't earth-shattering news in and of itself. The main difference is that the bitcoin rout happened at 15 times the rate as the tech bubble.Morgan Stanley has some good news for bitcoin bulls, howeve...Read More
Westinghouse Electric Company's reorganisation plan - including its sale to Brookfield - has been approved by the US Bankruptcy Court. Westinghouse said the court's approval of the plan is a "significant milestone in the company's strategic restructuring".Westinghouse filed for Chapter 11 bankruptcy protection with US courts in March 2017 to enable it to undergo strategic restructuring. The compan...Read More
(Kitco News)- Societe Generale is "moderatelybearish" on gold prices and calls palladium its "preferred precious metal."In a report released Tuesday,analysts said they look for gold to be at $1,275 in six months. As of 9 a.m.EDT Wednesday, spot gold was 2.5% higher so far in 2018 to $1,334.90 an ounce.Rising yields will be a headwindfor gold, SocGen said."That being said,...Read More
A shortage of crude indium material is pushing prices higher, market participants have told Metal Bulletin.Metal Bulletin assessed the free-market price of indium at $330-360 per kg on an in-warehouse basis on Wednesday March 28, up from $320-350 in the previous assessment last Friday."Our purchase department complains that it is difficult to locate crude indium although they have called nearly al...Read More
Getty ImagesConsumer confidence is still very high despite a small decline in March. The numbers: Consumer confidence fell slightly in March but remained near an 18-year high. The consumer confidence index dipped to 127.7 this month from a revised 130 in February, the Conference Board said Tuesday. Economists polled by MarketWatch had forecast the index to read 131.0. What happened: Americans...Read More
Base metals prices on the London Metal Exchange ended higher at the close of trading on Wednesday March 28, with only aluminium trading lower. The three-month nickel price was the biggest mover, rising $130 per tonne and recovering back above $13,000 per tonne. The metal is being buoyed by a tight market and low stocks. "Total LME stocks have had very little inflow and edged lower to 322,236 tonne...Read More
(Kitco News)- BMO Capital Markets has revised upward its average gold forecast for 2018 by 4% to $1,327 an ounce, looking for retail investment topick up on inflation concerns and big investors to want exposure due togeopolitical worries.As of 9 a.m. EDT Wednesday, spot gold was 2.5 % higher sofar in 2018 to $1,334.90 an ounce. “The return ofgeopolitical tension and concerns over the durati...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 27.Please click...Read More
The inevitable is finally starting to unfold. The downgrade to triple-C by Moody's came as a surprise, at least to me.Historically Moody's has been the last to downgrade collapsing companies. The most famous was its failure to downgrade Enron until about a week before Enron folded.Perhaps this time around it decided to get out in front of the obvious. Tesla's continued existence, despite obvious o...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average has declined 3.5% so far in 2018. If it closes lower in the first quarter, a nine-quarter streak of gains will end.The Dow was on pace for its worst month of trading since January 2016.The final reading for U.S. GDP in the fourth quarter was up 2.9%. Wall Street Overview U.S. stocks weren...Read More
Marc JonesLONDON (Reuters) - The turbulent start to 2018 in financial markets has finally brought an end to one of the longest ever global bull runs - and there have been few places to hide.After last year’s tranquillity, as the charts below show, investors have had it all thrown at them this quarter, from the biggest ever rise in stock volatility .VIX to rapidly escalating tensions over glo...Read More
Metal Bulletin has gathered some of the major talking points from its 19th Asian Ferro-Alloys conference in Hong Kong on March 20-22. 1. Demand for steel and ferro-alloys will come from India, Russia, OBOR and Southeast Asia "From my point of view, market means population. China [has a population of] 1.4 billion people," Mark Shujun Ma, chairman and chief executive officer of metals technology and...Read More
Wallbridge Mining (CN:WM) has secured US$8 million in a bridge loan to fund its 35,000 tonne bulk sample programme at its Fenelon Gold property in Quebec.Staff reporterGold equities lower28 MARCH 201828/03/2018commentsshareThe first draw on the bridge loan, with Auramet International, hinges on Wallbridge completing a minimum C$2 million equity raise.Auramet has also been granted a call option on...Read More
(Kitco News)- Commerzbank sees limited potential for platinum prices to recoverin 2018 and looks for a fall in palladium in the second half of the year.Analysts see an “oversupplied” platinum market this year anda smaller deficit in palladium, they said in an outlook report releasedWednesday.Analysts see platinum averaging $925 an ounce in the secondquarter and then $975 in the third a...Read More