One in every twenty Europeans works in the automotive industry and the European Union believes that unless it catches up on battery technology, those jobs are at risk.That's why the group is planning to allow state aid for electric battery research and will offer billions to companies willing to build giant plants, it said Monday."Public investment in developing the battery industry in the EU is a...Read More
As a reformed silver bug and long-term investor in the white metal, I understand the pain felt by many silver investors since its price collapsed in late 2016 after breaking through the psychologically important US$20 an ounce barrier. There is every sign that silver will remain stagnant for the foreseeable future, dashing my hopes that bullion will soar to over US$20 per ounce.This is bad news fo...Read More
Mining at the Gruyere project, a joint venture between Gold Road (ASX: GOR) and Gold Fields (JSE, NYSE: GFI) in Western Australia, could begin as early as next month with first gold production expected to come in the second half of next year, the companies said Monday.Overall project engineering at the 270,000 ounce-a-year project, which is already more than A$100 million over its original budget...Read More
Miner and commodities trader Glencore (LON:GLEN) is cutting 430 jobs, or about 30 percent of the workforce at its Hail Creek coal mine in Queensland, Australia, following a 100-day review that began after it bought the asset from Rio Tinto.Under the "reconfiguration" of Hail Creek, the two-dragline operation would become a truck-and-shovel mine with a seven-day-on, seven-day-off roster, meaning th...Read More
Gold prices recovered the incremental price decline on Friday and are now trading above Thursday's closing price. On Thursday of last week, gold prices rose from the opening price of $1,197 to $1,230 by the closing bell. On Friday, gold prices had a fractional decline with the most active December Comex contract closing at $1,222 per ounce. Even with Friday's small daily decline, gold futures had...Read More
Gold producers are catching a tailwind as the price of gold continues to claw back the losses it sustained over the past six months.Let's take a look at the current situation that is driving gold stocks higher and see if this is the right time to add Goldcorp (TSX:G)(NYSE:GG) to your portfolio.Gold rallySafe-haven demand has apparently returned to the gold market. The price of the yellow metal has...Read More
Oct 15, 2018 Guest(s): Alain Corbani Head of Commodities, Finance SA Alain Corbani, head of commodities at Finance SA, said that these two clues may hint at the next peak on gold. "At $1,200, gold mines are breaking even, so $1,200 is the bottom. That's the first answer I can give you. The second one is that usually the cycle peaks when the net margins of the industry exceed 25%," Corbani told K...Read More
Growth stocks are an interesting topic among Canadian market watchers at the moment. In fact, with pot stocks taking up pretty much all available headline space, growth stocks are one of the hottest subjects around. This seems an odd state of affairs considering the uncertainty in the market that looks set to finally end the epic bull run; the marijuana stock boom is a rare phenomenon, to be sure....Read More
Beaten-down uranium miner Cameco (TSX:CCO)(NYSE:CCJ) has popped by an impressive 19% over the last month in response to receiving a favourable outcome regarding an investigation by the Canada Revenue Agency (CRA). This increased its appeal as an investment and fueled the bull case for investing in uranium and Cameco.While the latest news is certainly a positive for Cameco, it hasn't altered the un...Read More
(Kitco News)- Gold prices are holding moderate gains in early-afternoon U.S. trading Monday. Early on,prices hit a 10-week high. Some more safe-haven demand, technical buying andshort covering are boosting the yellow metal again today. The bulls havetechnical strength and momentum to suggest more gains are coming in the nearterm. December gold futures were last up $8.00 an ounce at $1,230.40. Dece...Read More
(Kitco News) - Scientists backed by the U.S. Army have developed a new gold-silver alloy that would lighten U.S. military’s devices as well as make them more powerful, according to a new study.The new alloy comes from the U.S. Army Research Laboratory — completed in conjunction with the University of Maryland and Brazil's Paulista State University.The discovery opens doors for lighter...Read More
Did you know that when bears go into hibernation they can lose up to 30% of their body weight.Following data on Friday that gold bears have increased their short position, despite a sharply rising gold price, it seems they are doubling down and perhaps hoping all will be fine after a period of hibernation... while risking similar losses, notes Ross Norman, CEO, Sharps Pixley Ltd."The latest CFTC...Read More
Mine photos courtesy of Agnico Eagle Mines,(Kitco News)- It's only a matter of time before investors come back to the mining sector, but they need to see viable business and growth potential, according to Sean Boyd, CEO of Agnico Eagle (NYSE: AEM, TSX: AEM).It's with that focus that Agnico Eagle prepares to launch its two new mines in Nunavut, Canada's eastern Arctic. The company's Meliadine prope...Read More
(Kitco News)- Sentiment appears to be shiftingin the gold market and analysts are dismissing a new record in speculativebearish positioning shown in the latest data from the Commodity Futures TradingCommission (CFTC). The CFTC's disaggregatedCommitments of Traders report (COT), for the week ending Oct. 9, showed moneymanagers dropped their speculative gross long positions in Comex gold futuresby 1...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks fell on Monday following last week's sharp losses. The Dow Jones Industrial Average fell 4.2% last week, the S&P declined 4.1% and the Nasdaq tumbled 3.7%. It was the worst weekly performances for the indexes since March.Sears Holdings Corp. (SHLD) filed for Chapter 11 bankruptcy protection. Sears' controlling shareholder,...Read More
WASHINGTON (Reuters) - The U.S. federal government closed the 2018 fiscal year $779 billion in the red as tax cuts hit revenues and the government paid more to service a growing national debt, according to Treasury Department data released on Monday.The deficit for the fiscal year - or the 12 months through September - was the largest since 2012.The data also showed a $119 billion budget surplus i...Read More
(Kitco News) -First Majestic Silver Corp.’s (TSX: FR; NYSE: AG) third-quarter productionhit a company record of 6.7 million silver-equivalent ounces, which was up 69%from 4 million in the same quarter of 2017, the company said Monday.The company also announced an effort to cut costs by 20%,although specifics were not released. Officials said this was a response toweak silver prices.Total Ju...Read More
Gran Colombia Gold Corp. (TSX: GCM) third-quarter gold outputtotaled 57,163 ounces, which was up 54% from the same period a year ago, thecompany reports. Gran Colombia also says it still expects to produce between210,000 and 220,000 ounces in 2018. For the first nine months of the year,production was 162,741 ounces, up 33% over the first nine months of 2017. Thisbrings the trailing 12-months produ...Read More
Oct 15, 2018 Guest(s): Gerald Celente Publisher, The Trends Journal Destabilization around the world is showing signs with global currencies "collapsing," said Gerald Celente, publisher of the Trends Journal. "It's beyond Italy. It's going on in all the emerging markets and the developed nations," Celente told Kitco News. Celente said that the new Italian government is reflective of the broader...Read More
On Friday we asked the question-- could the gold rally continue? The markets have spoken with a resoundingyes. Gold traded as high as $1,237 this morning. The next key level to watch is$1,240. A breakout above brings $1,275 into play.The most important thing toremember now is not to chase the market higher. If you missed this rally, therewill be other opportunities. Don't let the fear of missing o...Read More