Comex copper prices bounced back in US morning trading on Thursday April 5 amid easing tensions between the United States and China. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 6.65 cents or 2.2% to $3.0770 per lb. "We remain modestly constructive on metals going into April, as we suspect...Read More
Cesco Week, the annual copper industry gathering in Santiago, starts on Sunday in the Chilean capital, with some 2,000 local and international market participants in attendance to discuss the outlook for copper prices and mining as a whole.Here is a list of the events and functions scheduled for the week.Please note that events are private receptions and admission is strictly by invitation only.Su...Read More
A subscriber from Canada emailed me last night about the Canadian housing market: "Toronto and Vancouver sales down 40% and 30% YoY respectively. Prices are still up in Vancouver but down 14% in Toronto. I don't know how prices stay up if the volume continues to trend down. Canadians are even more levered than Americans I believe. This is going to get ugly before it's all over."The only part I dis...Read More
Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More
Rahul Karunakar(Reuters) - Currency market moves as a result of the trade dispute between the United States and China have more or less run their course and only a flare-up in the conflict will change the outlook significantly, a Reuters poll of strategists suggests.“While the prospect of a trade war has leapt to the number one risk for global investors following China’s swift retaliat...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
Jonathan Spicer, Ann SaphirNEW YORK/SAN FRANCISCO (Reuters) - Janet Yellen cashed in with her first paid visit to Wall Street since stepping down as Federal Reserve chair, discussing rate hikes and U.S. President Donald Trump at events on Monday that included a dinner for 40 at a CEO’s Manhattan penthouse.Two people familiar with the events hosted by investment bank Jefferies, including the...Read More
Miner South32 has signed a 2018 annual lead concentrate supply contract with at least one major smelter, which includes a 21.4% drop in headline treatment charges. South32's deal, which supplies lead concentrates from its Cannington mine in Australia, sets headline treatment and refining charges (TC/RCs) at $98 per tonne/$0.60 per oz, against $124.70/$1 in 2017, sources with knowledge of the matte...Read More
CloseGain/LossGold $1326.30-$7.10Silver$16.39+$0.08XAU81.47+0.77%HUI176.34+0.66%GDM612.19+0.36%JSE Gold1085.57-7.48USD90.48+0.35Euro122.38-0.48Yen93.10-0.57Oil$63.54+$0.1710-Year2.836%+0.030T-Bond144.84375-0.875Dow24505.22+0.99%Nasdaq7076.55+0.46%S&P2662.84+0.69% The Metals: Gold fell $10.60 to $1322.80 at about 9:30AM EST before it bounced back higher into the close, but it still ended wi...Read More
Wednesday turned out to be one ofthe wildest days in stock-market history when equities were down 500 points inthe premarket on news of trade wars and tariffs. By the time the market openedat 9:30 a.m. EDT, equities had found their bottoms and the rally was on, withthe market closing up almost 300 points on the day.At the height of the panic, gold had rallied to $1,346 before closing at $1,336. On...Read More
Bonterra Resources (BTR.V) is now continuously publishing new assay results from the drill holes completed during the winter drill program, and it looks like all new holes are confirming the continuity of the gold-bearing veins at Gladiator. As Bonterra is gearing up to complete a resource update, it's encouraging to see it continues to intercept the veins where they are expected to show up.The as...Read More
JXTG, Japan's energy and metal conglomerate, expects to post an impairment loss of 65 billion yen ($606.8 million) for its Chilean Caserones copper project following a series of production problems last year. The 65 billion yen bill was attributed to changes in the mining plan due to a fault in an ore pit and a review on long-term production plan, the majority owner of Caserones copper mine said o...Read More
(Kitco News) - Global gold-backed exchange-traded funds (ETFs) added 22.5tonnes of gold during March, with the majority of inflows coming from NorthAmerica, the World Gold Council (WGC) reported Thursday.The inflow in March was a significant increase compared tothe previous month’s net change in holdings, which slipped by 5.1 tonnes. According to a monthly report on ETF fund flows by the WGC...Read More
Left to right, Darin Labrenz, President & CEO, Graeme Currie, Chairman, and Dr. Mark O'Dea, Director. Photos courtesy Pure Gold Mining Inc.Pure Gold Mining Inc. [PGM-TSXV] has been recognized for its work in developing the Madsen Gold Project, one of the iconic former mines in the fabled Red Lake camp, northwestern Ontario.The Northwestern Ontario Prospectors Association has honoured Pure Gold...Read More
TD Securities sees potential for a silverrally in 2018. “Silver continues to underperform gold, weighed down by itsindustrial characteristics amid growing trade-war fears, with silver specs [inthe futures market] printing the most bearish net position on record,” TDSsays. “However, given that we remain skeptical on the prospects of a full-blowntrade war materializing, and expect...Read More
Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More
Pacton Gold Inc. (TSXV:PAC), a gold junior, jumped after announcing a LOI to earn up to an 80% ownership interest in tenement licences in Western Australia’s Pilbara gold mining regionSean Mason | April 5, 2018 | SmallCapPowerAn Australia gold property letter of intent was a nugget of good news for shareholders of a gold junior Thursday. Here's some small stocks making big moves on Thu...Read More
(Kitco News) - With rising U.S. debt levels and tighter monetary policy, gold could quickly become the most appealing asset out there, according to one strategist.“If more borrowing is the solution, then I expect gold prices will suddenly become a most desirable asset,” said macroeconomic strategist and managing partner at Spotlight Group Stephen Pope.Gold and debt are highly correlate...Read More
West Red Lake Gold Mines Inc. is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced nearly 30 million ounces of gold from high grade zones. The Company has assembled a significant property po...Read More