When Henrik Fisker joined First Cobalt's (TSX-V: FCC) board of directors in September, it was like a marriage of the minds between the global automotive design entrepreneur and the company's president and CEO, Trent Mell.Both Fisker and Mell are focused on providing cobalt to the American EV market efficiently, and also on maintaining stringent ethical mining practices.First Cobalt is operating do...Read More
Mr. Christian Milau reportsEQUINOX GOLD CLOSES US$75 MILLION EQUITY FINANCING FOR ACQUISITION OF MESQUITE GOLD MINEFurther to the news release dated Sept. 19, 2018, announcing the company's intention to acquire the Mesquite gold mine in California, Equinox Gold Corp. has closed the brokered and non-brokered private placements of subscription receipts at a price of 95 cents per subscription receipt...Read More
Chile's state miner Codelco, the world's No.1 copper producer, has revealed its smelter at Chuquicamata, its second largest operation by size, will be running at reduced rates until at least the end of the year, as it hurries to complete a planned overhaul ahead of stricter emissions standards coming in effect.Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second la...Read More
Goldhad one of its most dynamic days yesterday as it opened below $1,200 per ounceand closed $30 higher, settling at $1,227 per ounce. Today gold prices haveretreated slightly, giving back a measured portion of yesterday's gains. As of 4:35 PM Eastern standard time, gold futures arecurrently down $6.30, with the most active December Comex contract fixed at $1,221.30. Yesterday'sstrong uptick and p...Read More
(Kitco News) - With this week’s gold rally finally shaking up the precious metals space, analysts are now wondering if this re-awakened ‘haven’ interest is sustainable and how high gold prices can go next week.“The rally fits with a long-held view that the market is under-appreciating risks, with a higher tolerance for uncertainty. But I think with the sell-off in equity ma...Read More
Canadian junior Rusoro Mining (TSX-V: RML), which in March scored a major victory in its international arbitration complaint against Venezuela, has accepted the almost $1.3 billion offered by the country's government as settlement for the seizure of the company's gold projects.The deal gives Venezuela Rusoro's mining data and forces it to fully release the arbitral award issued in favour of the mi...Read More
Shares in rare earths producer Lynas Corporation (ASX:LYC) climbed on Friday, closing 9.2 percent higher, after the Malaysian minister in charge of a committee reviewing the miner's plant offered to step down following criticism that she would not be impartial.Deputy Minister to the Prime Minister's Office Fuziah Salleh, a long-standing critic of Lynas' plant, said she didn't want to be used by...Read More
Bitcoin prices on Thursday finally broke out of a recent lull, dropping as much as 6% and putting the $6,000 level back in play. A single bitcoinBTCUSD, -0.27% was last going for $6,202.07, down 5.5% since Wednesday at 5 p.m. Eastern Time on the Kraken exchange. Earlier in the session, the world's largest digital currency traded to an intraday low of $6,125.75, its lowest level since Sept. 19....Read More
(Kitco News) - Gold is going up from here, according to one strategist. It might not be in a straight line, but brighter days are ahead for the yellow metal, with the worst behind it.“Gold will benefit going into the end of the year as well as beyond,” RBC Capital Markets commodity strategist Christopher Louney told Kitco News on Thursday. “There’s plenty of room for gold t...Read More
(Kitco News)- WallStreet and Main Street both look for gold’s newfound upward momentum tocontinue next week, based on the Kitco News gold survey.Equitiessold off sharply Wednesday and Thursday. Even though the stock market was upFriday morning, the prior weakness left gold higher for the week as investorsturned to the metal as a safe haven. The dollar index also eased this week,further fueli...Read More
Consumer sentiment in October falls just short of expectations.The University of Michigan's survey finds American confidence in U.S. economic policy is at a 15-year high.The survey considers 500 consumers' outlook on economic prospects.Michael Sheetz| @thesheetztweetz Published 11 Hours AgoUpdated10 Hours AgoCNBC.com show chapters Consumer sentiment index at 99.0 versus 100 estimate ...Read More
Mr. Christian Milau reportsEQUINOX GOLD CLOSES US$75 MILLION EQUITY FINANCING FOR ACQUISITION OF MESQUITE GOLD MINEFurther to the news release dated Sept. 19, 2018, announcing the company's intention to acquire the Mesquite gold mine in California, Equinox Gold Corp. has closed the brokered and non-brokered private placements of subscription receipts at a price of 95 cents per subscription receipt...Read More
(Kitco News)- The gold investors are breathing a much-needed sigh of reliefafter the precious metal pushed to a 10-week high, seeing its best gains in twoyears, but more work needs to be done, according to one commodity analyst.In a report Friday, Ole Hansen, head of commodity strategy atSaxo Bank, said that after Thursday’s rally, which saw prices rise more than$29 on the day, he is now bul...Read More
Getty ImagesTanker trucks load up with fuel at a terminal attached to a Citgo oil refinery March 8, 2005 in Lemont, Illinois. The numbers: The cost of goods imported into the U.S. rose in September for the first time in four months. The import price index climbed 0.5% last month, driven up by higher cost of imported fuel, the government said Friday. This was above the Wall Street expectations o...Read More
(Kitco News) - Gold prices aretrading modestly down in early U.S. trading Friday, on a normal correctivepullback after scoring on Thursday the strongest daily gains in over two years.Now, the yellow metal is in a much better technical posture to suggest higherprices are likely in the coming weeks, or longer. December gold futures werelast down $2.10 an ounce at $1,225.70. December Comex silver wa...Read More
Gold’stechnical-chart picture has improved, and the December futures potentiallycould challenge the 100-day moving average around $1,238.10 an ounce in thenot-too-distant future, says Charlie Nedoss, senior market strategist withLaSalle Futures Group. The most-active Comex contract hit a 10-week high of $1,230 anounce on Thursday, although it has pulled back some to $1,225.30, down $2.30for...Read More
(Reuters) - Barrick Gold Corp (ABX), which recently announced a $6.1 billion deal to acquire Randgold Resources Ltd, affirmed its 2018 gold and copper production forecast recently, reflecting improvements in operations.Citing preliminary data, Barrick said its 2018 effective tax rate was expected at about 48 to 50 percent, up from a previous forecast of 44 to 46 percent, because of lower-than-expe...Read More
Great PantherSilver Ltd. (TSX: GPR; NYSE American: GPL) reports output from its two Mexicanmines declined in the third quarter compared to a year ago, although thecompany remains track to meet its full-year output guidance. Silver production decreased 16% year-on-yearto 448,840 ounces, while gold production fell 19% to 4,737 ounces. However,lead and zinc production increased 29% and 14%, respect...Read More
The imminentshort squeeze gold bulls had been waitingfor since late July, was triggered yesterday after U.S. equitieswere down over three percent the previous session. Just after the London MetalsExchange (LME) opened yesterday morning, gold spec shorts slowly began to coveras Dow Futures were showing more weakness before the opening bell. Once theU.S. CPI inflation data came in lower than expecte...Read More
Gold has broken out to the upside.The big question from here is can it hold? The answer is not an easy one butthe simple fact that gold has been consolidating for months, continued to makehigher lows and finally pushed through $1,220 suggest the answer is yes.This is the time when traders andinvestors get confused about who and what they are. As a trader, if you arelong gold as a trade, you should...Read More