Markets Brexit USD and Gold Oil Flat session expected as investors eye bigger events later in the week It’s shaping up to be another flat session on Tuesday, with European stocks a mixed bag and US futures showing little directional bias. The week is heavily loaded towards the backend, which is largely the reason why we’re seeing this kind of fence sitting from investors. Tom...Read More
Total gold holdings in ETFs grew marginally in March, resuming an upward trend that started last fall.Total holdings of the yellow metal globally rose 3 tons, with increases seen in every region, according to the most recent data released by the World Gold Council.ETFs worldwide currently hold 2,483 tons of gold valued at approximately $103 billion.By SchiffGold Total gold holdings in ETFs grew ma...Read More
The gold/commodity ratio and the T-Bond price move in the same direction most of the time.A significant divergence has developed over the past three months, and such divergences are usually important.The recent performance of the g/c ratio is a reason to be intermediate-term bearish on the T-Bond.Editor's note: Originally published at tsi-blog.com on April 9, 2019. [In a blog post last October, I...Read More
AFP/Getty Images Gold futures settled at their highest in nearly two weeks on Tuesday, logging a second straight finish above $1,300, as weakness in the U.S. dollar and concerns over global growth provided a runway higher for the precious metal. Gold for June delivery GCM9, -0.08% on Comex rose $6.40, or 0.5%, to settle at $1,308.30 an ounce, after closing up 0.5% on Monday. The settlement was th...Read More
US labor market strengthened again and the yield curve inversion looks to be over. Has the sky cleared? Hold on, Brexit is just around the corner. Given the circumstances, are gold prices more likely to rise or fall? America Creates almost 200,000 new jobs in March US economy added 196,000 jobs last month, following a disappointing rise of 33,000 in February (after an upward revision). The number...Read More
Published 23 Hours AgoUpdated7 Hours AgoReuters Edgar Su | ReutersGold rose to its highest in more than a week on Tuesday as the dollar and equities weakened after the International Monetary Fund cut its global economic growth forecasts for the year, with increased buying by central banks lending further support.Spot gold rose 0.5 percent to $1,303.98 per ounce, having hit its highest since March...Read More
Harte Gold Corp. (TSX: HRT) has completed a feasibility study on its Sugar mine, which started commercial production in White River, Ontario, in January.The feasibility study incorporates improvements to the indicated mineral resources and reserves since the preliminary economic assessment was released last year.The study used an 800-tonne-per-day operation as the base case, which resulted in annu...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday April 9, with a dip in the dollar index below the psychological level of 97 doing little to prompt rallies, while stock inflows continue push prices lower. Despite trading comfortably above $6,500 per tonne for much of the day, copper's three-month price closed $13 per tonne shy of the psychologica...Read More
Soci?(C)t?(C) Generale will close its proprietary and over-the-counter (OTC) commodities business including its metals trading, as part of a global cost cutting exercise involving 1,600 job losses, the company said on April 9.The French bank is a category I London Metal Exchange dealer and plans to continue this activity through its brokerage arm Newedge Group, informed sources confirmed to F...Read More
An absence of firm offers and bids kept participants in the seaborne coking coal market on the sidelines on Tuesday April 9, with buyers in particular waiting for prices to bottom out."Current seaborne coking coal prices are already 100-200 yuan ($14.90-$29.80) per tonne lower than those for domestic materials [in China]. We are just hesitating about whether the price advantage makes up for the de...Read More
Gold futures settled back above $1,300 an ounce on Monday for the first time in over a week, as a slump in the dollar helped the haven metal to rebound from a loss last week, and investors turned cautious ahead of the launch of a new earnings season for American corporations. "Naturally, a weaker U.S. dollar index is a tailwind for gold," said Michael Armbruster, managing partner at Altavest. The...Read More
Indian state copper miner Hindustan Copper is in the initial stages of an $800 million expansion program, Resources Monitor reported Tuesday.Currently, Hindustan produces around 40,000 tonnes of copper per year, but the company plans to increase production to around 200,000 tonnes by 2025.Construction is underway at a major new underground mine in the state of Madhya Pradesh, according to Resource...Read More
Chilean miner Collahuasi this year expects to match its 2018 production of copper, an all-time high for the company, its top executive said on Tuesday.Collahuasi, majority owned by Anglo American and Glencore, is a copper mine located in northern Chile and among the world ?s largest. Last year the mine produced 560,000 tonnes of copper, placing it among Chile ?s top three producing mines. "This ye...Read More
Chilean miner Antofagasta Plc will retain its dividend policy of paying out at least 35 percent of underlying net earnings but will pay out excess funds from the proceeds of sales to shareholders, its chief executive said. "If you look at the last three or four years, we have been distributing close to around 50 percent of net earnings. We are not going to change the policy; we think it has served...Read More
Freeport-McMoRan Inc plans no dividend hikes, acquisitions or debt buybacks over the next two years as it focuses on expanding Indonesia's Grasberg copper and gold mine underground, its chief executive told Reuters on Tuesday.The strategy underscores Freeport's desire to keep Grasberg, one of the world's largest mines, the crown jewel of its operations even amid the complex task of excavating the...Read More
Rio Tinto said on Tuesday it will join a World Bank initiative intended to help developing countries sustainably mine lithium, cobalt and other minerals critical to the global electrification trend.Rio's participation in the program, known as Climate-Smart Mining and set to launch in May, comes as miners face increasing pressure from investors and non-governmental organizations to make supply chai...Read More
PT Amman Mineral Nusa Tenggara, which owns the second-largest copper and gold mine in Indonesia, is weighing an initial public offering that could raise as much as $600 million, according to people familiar with the matter.The company is working with advisers to list in Jakarta as early as the fourth quarter, said the people, asking not to be named as the information is private. The firm also owns...Read More
Purepoint Uranium Group says it has finished the initial fieldwork at the Hook Lake joint venture. The project lies on the southwest edge of the Athabasca Basin in the Patterson uranium district, between Fission's Triple R deposit and NexGen's Arrow deposit.Hook Lake is owned jointly by Cameco Corp. (39.5%), Orano Canada (39.5%) and Purepoint Uranium Group (operator and holder of a 21% interest).W...Read More
Niger's Ministry of Mines issued a letter supporting the negotiations between Canada's GoviEx Uranium (TSXV: GXU) and the country's federal government regarding the Madaouela uranium project.Although final documents on their commercial understandings are yet to be signed, the Vancouver-based miner and country authorities have agreed that the Government of Niger will acquire a 10% working interest...Read More
Soci?(C)t?(C) Generale will close its proprietary and over-the-counter (OTC) commodities business including its metals trading, as part of a global cost cutting exercise involving 1,600 job losses, the company said on April 9.The French bank is a category I London Metal Exchange dealer and plans to continue this activity through its brokerage arm Newedge Group, informed sources confirmed to F...Read More