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
Detailed data for Chinese trade is still not available, but there are indications that the East Asian country may have become the biggest importer of pig iron in Asia last year, according to Fastmarkets' research team.We pointed out in June last year that the Chinese import pig iron market might revive to fill the widening gap between iron and steel production in China, alongside ferrous scrap.Hon...Read More
The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United States is having some interesting consequences.Notably, in the event of a national security issue - which Section 232 was designed to address - the United States would theoretically rely on Japan for its steel and Saudi Arabia for its aluminium.Those countries have been granted the highest volume o...Read More
I'm accumulating gold, silver, and gold/silver stocks to maintain a 5-7% portfolio allocation to precious metals.I consider gold to be fairly valued or mildly undervalued at the current time. Not necessarily deeply undervalued like some argue, but a good long-term risk/reward opportunity.Streaming/royalty companies are my preferred choice.Silver and platinum are historically undervalued.Precio...Read More
Copper's three-month price on the London Metal Exchange was up over 1% at the close of trading on Wednesday February 20, breaching $6,400 per tonne for the first time since July 2018 amid high volumes and dwindling LME stocks. Total volumes traded in copper led the complex with more than 21,000 lots changing hands by the close, the most since January 4. Despite significant buying over the aft...Read More
The Comex copper market continued to move in a positive direction on Wednesday February 20, with global trade talks between the United States and China showing progress.The copper price for March settlement on the Comex division of the New York Mercantile Exchange increased 2.25 cents to $2.8970 per lb. Additionally, the red metal's price remains elevated against a backdrop of falling London....Read More
Seaborne iron ore prices fell across the board on Wednesday February 20 amid a quiet trading day, while Fortescue Metals Group (FMG) announced its product discount levels for March.MB 62% Fe Iron Ore Index: $88 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.40 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.10 per tonne...Read More
In our previous article, we have highlighted the possibility that Gold can quickly retest the high in 2018. The chart below shows the yellow metal has broken above a long term bearish channel from Sept 5, 2011 high. In addition, it has successfully closed above the ascending trend support from December 3, 2015 low. We mention that the next logical swing target for the yellow metal is to retest 20...Read More
Big action in gold right now.Everyone is excited about gold and gold miners.We are getting up to some critical resistance areas. Produced by HoweStreet.com Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.Follow HoweStreet.com and get email alertsRead More
Published7:56PM ET Tue, 19 Feb 2019Updated6 Hours AgoReuters Getty ImagesPalladium jumped above the $1,500 per ounce mark for the first time on Wednesday, propelled by a stark supply deficit, while gold hit a 10-month high on a weaker dollar as investors awaited cues on U.S. monetary policy.Spot palladium, which traded as high as $1,502 per ounce, was up 0.74 percent at $1,490.50 at 1:52 p.m. EST...Read More
Russia's divestiture out of dollars and into gold is bullish for the metal.50-year high in central bank demand is also boosting the yellow metal.Gold's intermediate-term trend remains up despite strong dollar.Despite the continued strength of the U.S. currency, and partly because of Russia's increased appetite for the metal, gold's bullish prospects in 2019 are as strong as they've been in...Read More
Katanga Mining (TSX: KAT; US-OTC: KATFF) lost $116 million in 2018's fourth quarter to end the year with $13.4 million in gross profit, a result of temporary cobalt sale suspensions, higher reagent costs at its Luilu metallurgical plant and increased mine infrastructure and support costs.The company says its fourth quarter loss was partly offset by higher copper sales in the quarter.The company re...Read More
Montreal-based Osisko Metals has released the maiden resource estimate for its Key Anacon and Gilmour South deposits, collectively the Eastern Bathurst Mining Camp (EBMC) project. The properties are located south of Bathurst.With a 5.5% zinc equivalent cut-off, indicated resources in the Key Anacon Main and Titan zones total 2.0 million tonnes grading 5.77% zinc, 2.38% lead, 0.22% copper, and 68.9...Read More
Canadian miner Hudbay Minerals (TSE: HBM) has plans to double the annual gold output from the Lalor gold-copper-zinc mine 13 km west of Snow Lake, Manitoba. As part of the plan the New Britannia mill will be refurbished at a cost of $95 million raising Lalor gold output to 140,000 oz. per year.The Lalor mine will then be joining the ranks of primary gold producers as one of the lowest sustaining...Read More
The US Army Corps of Engineers has released the Draft Environmental Impact Statement (DEIS), as required under the National Environmental Policy Act, for Northern Dynasty's (TSX: NDM; NYSE : NAK) Alaska Pebble project, one of the richest copper-gold deposits ever discovered.The DEIS is an important milestone and positive development for Vancouver-based Northern Dynasty, its subsidiary Pebble Limit...Read More
On Wednesday, hopes that an escalation of the trade war between the US and China can been avoided (or at least postponed) sparked a massive rally in mining stocks - already buoyed by climbing metals prices.US President Donald Trump said yesterday he may not increase tariffs on Chinese products on March 1, as talks about the trading relationship between the world's two largest economies continue in...Read More
Glencore on Wednesday said it would "vigorously contest" a $680 million tax demand from the British authorities linked to transfer pricing.The Swiss-based mining and trading company has offices in London and is London-listed. The British tax authorities issued formal transfer pricing, permanent establishment and diverted profits tax assessments for the 2008 - 2017 tax years, amounting to $680 mill...Read More
Glencore Plc reported its weakest trading profit in five years and missed analysts' earnings estimates, even as the mining giant promised to increase its rewards to shareholders after a tough year.The disappointing performance in the trading unit is a blow for Glencore, which has always said its traders can make money in any kind of market. The company touts the unit as a differentiator from other...Read More
Miner AngloGold Ashanti can resume a soil study halted by a municipal council ban on mining activities, the environmental authority in Colombia's Antioquia province said.The mayor of the town of Jerico had ordered a suspension of the work in January after the council voted late last year to ban mining in the area.In a decision dated Feb. 18, Corantioquia said it was lifting the stoppage on AngloGo...Read More
Australia's largest gold producer, Newcrest Mining, (ASX: NCM), is expanding its footprint in Ecuador by signing an agreement with Cornerstone Capital Resources (TSX-V:CGP), a Canadian junior with several assets in the country, including a 15% stake in SolGold's Cascabel copper-gold project.Under the deal, a subsidiary of Newcrest will have the option to earn up to a 75% interest in two early-st...Read More
A report published by Fitch Solutions states that due to the prevalence of off-grid remote mineral deposits in Sub-Saharan Africa and the fact that traditional grid-power tends to be unreliable in those mines, mining companies operating in the region should invest in renewable energy.According to the market research firm, off-grid mines could benefit from reducing their dependency on diesel while...Read More