(Kitco News) - SouthAfrican producer Gold Fields Ltd. (JSE:GF; NYSE: GFI) is buyinga 50% joint-venture interest in AsankoGold Inc.’s (TSX: AKG, NYSE American: AKG) Asanko Gold Mineand other properties in Ghana, with the deal valued at $202.6 million, thecompanies announced Thursday.Canada-based Asanko has a 90%interest in the Asanko Gold Mine. The government holds the other 10%.Asanko will r...Read More
Base metals prices on the London Metal Exchange were split into two camps at the close on Thursday March 29 ahead of the market shutting down for a long Easter weekend.The three-month aluminium price closed 1.5% lower as it hit a low of $1,996 per tonne - the lowest since August 8, 2017. "Aluminium therefore cost nearly $300 less than the multi-year high it achieved in early January. Almost all of...Read More
Here Are 4 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average and S&P 500 ended the quarter lower, the first time the two indexes had a quarterly decline in nine quarters.Thursday was the first time in three sessions the major averages closed the day in positive territory.TheStreet's Kinsey Grant has all the must-know stats from the first quarter. Check out here....Read More
(Kitco News)- Gold prices continue to be hemmed in a relatively tightrange. Earlier in the week, we suggested that gold's momentum, after the Fedrate increase last week, had the potential to break the metal to the upside butthat further dollar weakness would be necessary to break the key $1,357 level.Technical traders sold heavily at resistance, as the dollar staged a reversaland some fundamental...Read More
Refining charges (RCs) for imported blister copper continued to climb in China in March on ample stocks and softened demand for refined copper. The RC for 98-99% blister copper rose to $230- $250 per tonne on a cif basis on Thursday March 29, with spot deals of African brands reported to be close to $240 per tonne. This compared with the blister copper RC assessment of $200-$210 per tonn...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
Gold prices could jump to $1,500 an ounce this year, a level they haven't seen since 2013, according to Frank Holmes, chief executive officer of U.S. Global Investors. That would mark a roughly 11% rise from the current price, as April gold futures GCJ8, +0.06% traded under $1,345 on Tuesday. Despite pressure from the rally in global stocks and massive cryptocurrency speculation, gold futures ha...Read More
Representatives of major international mining companies active in the Democratic Republic of Congo (DRC) have submitted a formal proposal to the country's Ministry of Mines that they say is designed to address their concerns about the recently-revised mining code as well as the government's revenue needs. Among other things, the proposal includes linking a sliding scale of royalty rates to the pri...Read More
NEW YORK (Reuters) - The U.S. economy is on track to expand at a 2.4 percent annualized rate in the first quarter following the latest data on advanced trade data and personal spending, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.The latest estimate on gross domestic product was faster than the 1.8 percent growth pace calculated on March 23, the Atlanta Fed said.Re...Read More
* EUR/USD soggy yesterday on term-end position adjustments, broad USD buys.* Range then 1.2284-1.2336, still soggy in Tokyo, 1.2297-1.2305, quiet.* Good Friday holidays in Asia, Europe to keep things quiet, tradinglow-key.* Ascending 55-DMA 1.2335 above, extent of topside?* Chunky option expiries NY cut today , 1.2300 E636 mln, 1.2330-70 1.2 bln.* Expirations likely to help tether, cap upside, ECB...Read More
The European charge and high-carbon ferro-chrome benchmark settlement increased to $1.42 per lb for the second quarter of 2018, which is a rise of 20.3% from the first-quarter settlement of $1.18 per lb.South Africa's Merafe Resources announced the price to the Johannesburg Stock Exchange on Thursday March 29. Merafe is the joint venture partner with London-listed trader and mining company Glencor...Read More
* Dollar steadies after rallying earlier in the week* Surge peters out ahead of quarter-end* Major markets closed for holiday, currencies rangebound* Dollar index down more than 2 pct this quarterBy Shinichi SaoshiroTOKYO, March 30 (Reuters) - The dollar held steady againstits peers on Friday as the recovery seen earlier this weekpetered out ahead of the new quarter, which could potentiallybring r...Read More
Metal Bulletin is hosting a free web seminar on Thursday April 5 at 9am London time to discuss the key drivers of the battery raw materials markets, including substitution risk, electric vehicle policy, and supply of lithium, nickel and cobalt. Date Thursday April 5 Time 9am London time Join members of our global battery raw materials team as they discuss: - EV subsidies and government policy in C...Read More
Please Note: US Markets are closed tomorrow for Good Friday. CloseGain/LossOn WeekGold $1325.90+$0.20-1.47%Silver$16.34+$0.05-1.15%XAU81.12+1.85%-0.47%HUI175.41+1.52%-0.82%GDM612.39+1.10%-0.74%JSE Gold1127.39-3.86-0.34%USD90.06-0.07+0.68%Euro123.04-0.02-0.42%Yen94.05+0.49-1.72%Oil$64.94+$0.56-1.43%10-Year2.742%-0.031-2.49%Bond146.40625+0.53125+0.97%Dow24103.11+1.07%+2.42%Nasdaq7063.44+1.64%+1...Read More
* USD/JPY in 106.27-93 range yesterday, inside day likely today, GoodFriday.* Tokyo only major market open till New York, players here await BoJ Tankan.* Monday's Tankan to show business mood slightly down? JPY strength afactor.* Option expiries today-Monday sparse, 104.75-105.00, 106.00-10, not large.* US yields sag again overnight, Treasury 10s @2.740%, Nikkei likely soft.* Market likely very th...Read More
Bouncing between base metal supply dynamics and precious metal demand themes, silver sometimes has a tough time of finding its own way and continues to frustrate analysts.BMO sees the still-growing solar industry as a demand driver for silver29 MARCH 201829/03/2018commentsshare The most important marker right now is the silver to gold ounce ratio.Read More
Velocity Minerals (VLC.V) has released an updated resource estimate during the PDAC conference in March. This resource estimate contains an updated calculation of the inferred resources on the Rozina gold project in Bulgaria. Using a cutoff grade of 0.5 g/t, the deposit contains 17 million tonnes at 1.15 g/t for a total resource of 629,000 ounces. If you' apply a higher cutoff grade of 0.8 g/t, yo...Read More
- This is the largest debt issuance since 2008 financial crisis- Trump threatens trade war with its biggest creditor - China- Bond auctions have seen weak demand due to large supply and trade war concerns- $20 trillion mark reached in early September 2017; $1 trillion added in just 6 months- US total national debt level now exceeds $21.05 trillion and is accelerating higher- U.S. debt and dolla...Read More
Representatives of major international mining companies active in the Democratic Republic of Congo (DRC) have submitted a formal proposal to the country's Ministry of Mines that they say is designed to address their concerns about the recently-revised mining code as well as the government's revenue needs. Among other things, the proposal includes linking a sliding scale of royalty rates to the pri...Read More
MAR18JUN18 SEP18DEC18 Estimated Volume4,760Previous Actual Volume7,901 commodities@reuters.com)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for...Read More