Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Azeri state oil fund SOFAZ said on Thursday that it plans to increase the share of gold in its holdings to 10 percent this year from 5 percent at the end of 2018.SOFAZ, which has been buying gold since 2012, holds the former Soviet country's proceeds from oil contracts, oil and gas sales, transit fees and other revenue."During 2019, SOFAZ plans to purchase gold taking into account factors like the...Read More
Miner Anglo American Plc is betting on South America as its main growth area for base metals in the coming years, a top executive told Reuters.Ruben Fernandes, who heads Anglo's operations in Brazil and is slated to become its global head of base metals next March, said he wants to prepare the company for an expected boom in demand related to electric cars that is likely to fuel appetite for nicke...Read More
Tanzanian President John Magufuli directed the minerals minister and central bank governor to buy some of the nation's gold for its reserves.The gold could be used to shore up the shilling when the currency Africa's fourth-biggest producer of the precious metal weakens, according to an emailed speech made on Wednesday."We should get to a point where we are reserving our gold, because gold is simil...Read More
Barrick Gold Corp.'s new chief executive is surprised by the "hysteria" over whether the world's largest gold miner will remain a Canadian company.Barely a week after his Channel Islands-based Randgold Resources Ltd. merged with Barrick, Mark Bristow says he's determined to keep the global miner headquartered in Toronto - or at least as committed as he is to any head office. "Mining industries hav...Read More
Barrick Gold Corp.'s new boss intends to push ahead with plans to increase investment in the mineral-rich - but environmentally tricky - deposits straddling the Chile-Argentina border."If you want to find elephants, go to elephant country," Chief Executive Officer Mark Bristow, a South African geologist and big-game hunter, said in a phone interview. The Toronto-based company "absolutely" intends...Read More
Fastmarkets looks at five key things to watch out for in China's nickel and stainless steel markets this year against a backdrop of nickel pig iron (NPI) project ramp-ups and a country-wide clampdown on new crude stainless steel capacity.NPI deficit to persist despite project ramp-upsWhile the ramp-ups of a number of NPI projects were announced in 2018 and this is expected to narrow the deficit of...Read More
MAX Resource (TSXV: MXR) announced this week that it was able to secure 100% of the 89 mineral applications it is aspiring to develop in western Colombia.The applications cover a total area of 1,757 square kilometres and are located within the Choc?? department, approximately 100 kilometres southwest of the city of Medell?-n. Of the 89 claims, 63 occupy 1,270 square kilometres, and are collectivel...Read More
Canadian gold producer Pretium Resources (TSX, NYSE: PVG) said output at its Brucejack underground mine in British Columbia fell just shy of fourth quarter and full-year production guidance.In the last three months of 2018, the Vancouver miner generated 96,342 ounces of gold, resulting in the mine producing nearly 189,000 ounces of the precious metal for the second half of the year, or 95% of Pre...Read More
Ascot Resources (CVE: AOT) announced this week that it has entered into a definitive arrangement to acquire all of the issued and outstanding common shares of IDM Mining.In a press release, the Vancouver-based miner said that the goal behind the proposed acquisition is to create a prominent BC gold exploration/development company. The pro forma company would own two advance-stage high-grade gold...Read More
Sibanye-Stillwater said on Thursday its bullion output in 2018 would be lower than forecast after almost half of the employees downed tools since mid-November in a wage strike that has killed four employees at its South African gold operations.The miner said it expected 2018 production to come in at 1.1 million ounces compared with a guidance of between 1.13 million ounces and 1.16 million ounces,...Read More
Acacia Mining (LON:ACA), the Tanzanian gold producer dealing with an ongoing dispute with the country's administration, received a fresh blow on Thursday from the country's government, which fined the miner 300 million Tanzanian shillings (about $129,144) over allegations of breaching environmental rules by its North Mara operation.The company noted it has not yet received any supporting reports...Read More
The developer noted the new results complement previous ones from fine grinding and leaching tests. Vista Gold Corp. (VGZ:NYSE.MKT; VGZ:TSX) announced in a news release that metallurgical testing on two 2.5-ton high-grade samples from the Mt. Todd project confirmed previous findings.Specifically, high-pressure grinding roll crusher testing showed "increased concentration of gold in the fine fract...Read More
A CIBC report reviewed the miner's recently announced Q4/18 production and cost figures. Los Filos MineIn a Jan. 4 research note, CIBC analyst Bryce Adams reported that Leagold Mining Corp. (LMC:TSX.V; LMCNF:OTCQX) met its revised full-year 2018 production guidance of 295-305 Koz with actual production of 302.6 Koz. Q4/18 production alone, of 93.8 Koz, was consistent with CIBC's estimate of 93.7...Read More
Discoveries, 2019 exploration plans and financings fill the agenda for this gold explorer/developer that has the attention of numerous analysts. From new targets at prime locations to major multi-million-dollar financings, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) begins 2019 with many projects in the works.New Target at IskutIn late December 2018, the company announced that summer drilling at i...Read More
Oil prices rose for a ninth straight sessionThe Dow explored a 311-point range on both sides of breakeven. Fueling the choppy trading were weakness in retail stocks after several retailers -- including Macy's (M) and Kohl's (KSS) -- reported dreary holiday sales numbers, uncertainty surrounding the ongoing government shutdown, and a warning on U.S. debt levels from Fed Chair Jerome Powell. However...Read More
Immunomedics stock could pare recent gains, if history is any indicatorThe shares of Immunomedics, Inc. (NASDAQ:IMMU) have rebounded from their annual low of $12.86 on Dec. 20, and were last seen 2.2% higher on the day to trade at $17.62. However, traders might want to exercise caution before jumping in on IMMU, with the biotech stock running up to a key trendline -- a signal that, if history is...Read More
Benefit from a stock's move higher while reducing your dollars at riskThe past few months have been wild on Wall Street, and while the stock market has bounced from its Christmas Eve drubbing, many investors are still nervous about another leg lower. However, there's an options strategy for shareholders who want to minimize their capital at risk without totally exiting the game: the stock replacem...Read More
Biotech stock AMRN is heading toward a 34% gain this weekStocks are cautiously higher, but gains are capped by subpar holiday sales data. Among stocks making notable moves higher today are beer maker Constellation Brands, Inc. (NYSE:STZ), cardiovascular disease specialist Amarin Corporation (NASDAQ:AMRN), and casino name MGM Resorts International (NYSE:MGM). Below, we'll take a look at the new...Read More
Argentinian carmakers produced 20,475 vehicles in December, according to figures recently published by local manufacturers' association Adefa. Output was down by 38.50% from 33,280 units in the corresponding month of 2017.The output numbers in the Southern Hemisphere country decreased "as a result of the anticipation of summer holidays and the conditioning of plants for the execution of new invest...Read More
The sector is reacting to disappointing holiday sales dataRetail stocks are getting hit hard today as several retailers -- including Macy's (M) -- report dismal holiday sales data. At last check, the SPDR S&P Retail ETF (XRT) was down 2.5% to trade at $43.22. Volume is ramping up in XRT's options pits, too, with speculators targeting short-term contracts on the retail-heavy exchange-traded fund (E...Read More