NEW YORK (Reuters) - Because it is unclear how long the U.S. economy can sustain its current strength, the Federal Reserve should continue with its gradual interest rate hikes until it becomes undeniable that a change of course is necessary, an influential Fed governor said on Thursday.Randal Quarles, the U.S. central bank’s vice chair of supervision, who rarely discusses monetary policy, sa...Read More
Susan Heavey, Sofia MenchuWASHINGTON/GUATEMALA CITY (Reuters) - President Donald Trump threatened to deploy the military and close the southern U.S. border on Thursday as Hondurans and Salvadorans joined thousands of migrants in Guatemala hoping to travel north.“I must, in the strongest of terms, ask Mexico to stop this onslaught - and if unable to do so I will call up the U.S. Military and...Read More
NEW YORK (Reuters) - Goldman Sachs economists on Thursday said the firm remained “comfortable” with its call for five more interest rate hikes — two more than priced in financial markets — through the end of 2019.In a note to clients, Goldman said it feels the Federal Reserve needs to generate a significant tightening in financial conditions to slow the economy to its poten...Read More
Peninsula Energy Ltd (ASX:PEN) has achieved an 8% increase in production from its Lance Projects in Wyoming, US during the quarter ended September 30 2018, compared to the previous quarter.The increase in production is partly the result of the completion of a dried pounds reconciliation by the toll milling contractor for the period April 2018 to September 2018, as is standard industry practice dur...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday October 18 because of a firmer dollar but zinc continued to rally thanks to low stocks and the threat of more US sanctions.Copper closed below $6,200 per tonne for the first time this week while nickel hit a one-month low of $12,200 per tonne this afternoon but recovered to close at $12,350 per to...Read More
Gold’s recent move back above $1,220 anounce may signal a turning point for the precious metal, as investor buying haspicked up, says Standard Chartered. Prices must still break up through a numberof technical-chart levels to reach the psychologically important1,300-per-ounce level, Standard says. “We continue to believe price risks areskewed to the upside, particularly as $1,220/oz wa...Read More
Iamgold Corp. (TSX: IMG; NYSE: IAG) is upbeat about results from a 2018 drilling program at theDiakha deposit on the Siribaya project in western Mali. Officials report assayresults for 100 drill holes totaling 14,634 meters. Among the highlights arefive infill drill holes with gold grading anywhere from 1.61 grams per tonne to10.15, as well as three expansion holes ranging from 1.39 to 12.46 g/t.&...Read More
(Reuters) - Goldman Sachs Group Inc (GS.N) will not send any of its executives to a Saudi investment conference next week, Chief Executive Officer David Solomon said in an interview with CNBC on Thursday.“I was not planning to go and we had no senior executives going to the conference,” he said. “Dina Powell had been planning to go to the conference. She will not now be attending...Read More
The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Thursday said he would no longer attend next week’s investment conference in Saudi Arabia, as the Trump administration awaited the outcome of investigations into missing Saudi journalist Jamal Khashoggi.Mnuchin announced the decision in a post on Twitter following a meeting with President Donald Trump and Secretary of State Mik...Read More
BHP's zinc concentrates production rose 5% year on year in the three months ended September 30, 2018, according to the company's quarterly production report released on Wednesday October 17. The company produced 30,558 tonnes in the July-September period, up 5% from 29,201 tonnes in the same period of 2017, although production dropped by 15% on a quarterly basis. The miner produced 35,983 tonnes o...Read More
NEW YORK (Reuters) - The U.S. dollar rose to one-week highs against the euro on Thursday after the European Commission said Italy’s 2019 budget draft is in serious breach of EU budget rules.The step prepares the ground for what would be an unprecedented rejection of a member state’s fiscal plan.The euro EUR= tumbled to $1.455, its lowest against the greenback since Oct. 9, on the new...Read More
LONDON (Reuters) - Britain’s Cabinet Office Minister David Lidington said it was too early to estimate the cost of extending a Brexit transition period after the government indicated it would consider asking for one to break a deadlock in talks with the EU.Lidington rejected claims that an extension would cost Britain more than 10 billion pounds ($13.10 billion) in payments to the European U...Read More
Manganese market participants believe that 2018 will be the first year since 2015 that will end without a dramatic fourth-quarter ore price rally.Sharp rallies in manganese ore prices occurred in October 2016 and December 2017, but so far in 2018 there have been few indications that such an event will be repeated, sources told Fastmarkets."I think the market will be relatively quiet," one market s...Read More
MEMPHIS, Tenn. (Reuters) - The Federal Reserve’s current monetary policy path would raise the risks of recession in an economy where recent, unexpectedly strong growth may start to taper anyway, St. Louis Fed President James Bullard said on Thursday.In remarks to the Economic Club of Memphis, Bullard pointed to a possible next chapter in the central bank’s discussion: What to do if, as...Read More
Since you cannot share with us any of your favorite gold stocks, can you tell us what you look for in a gold stock(s)?"There are many things that I look for in a company and for the most part that information is available. I read companies' news releases and updates and many independent research services The problem is at times interpreting and coming to a conclusion. And it is difficult t...Read More
Molybdenum prices have dropped in Europe in line with demand in the past few days, with traders waiting for consumer buying interest to pick up before committing to any significant inter-merchant business, sources said.Market participants have not reported to Fastmarkets MB any molybdenum trades in either oxide or ferro-molybdenum in the first half of the week. Alloy deals of around 60 tonnes were...Read More
(Kitco News) - Gold prices ticked up after the index for current general activity in the Philadelphia Federal Reserve’s manufacturing business outlook survey posted a decline to 22.2 in October following a rebound to 22.9 in September, suggesting slightly slower economic growth. The consensus expectations compiled by news organizations were for a reading of somewhere around 19.7.Gold prices...Read More
Ah, Saudi Arabia, land of heat and contradictions. One day they're jailing women's rights activists for wanting to drive, the next day they're dismembering still-living Washington Post journalists. And yet they can count the world's capitalist democracies as friends, because today's dysfunctional economic/geopolitical system depends on both Saudi oil and Saudi willingness to keep their (apparently...Read More
BHP's zinc concentrates production rose 5% year on year in the three months ended September 30, 2018, according to the company's quarterly production report released on Wednesday October 17. The company produced 30,558 tonnes in the July-September period, up 5% from 29,201 tonnes in the same period of 2017, although production dropped by 15% on a quarterly basis. The miner produced 35,983 tonnes o...Read More