Over billions of years, extraordinary amounts of gold and other metals were deposited and spread throughout the Earth's crust. Humans have been searching for these rich deposits for centuries, and advances in geoscience and technology have helped us become more adept at finding them over time.However, even with today's advancements - almost all early-stage prospecting methods are still based on th...Read More
(Kitco News) - Gold’s upward move following the Federal Reserve’s latest rate hike is not a sign of a new rally, said Capital Economics, adding that gold will succeed only in 2019 and 2020.“Somewhat counterintuitively, the price of gold edged higher following the Federal Reserve’s decision to hike U.S. interest rates for the second time this year. But we don’t think t...Read More
BRUSSELS (Reuters) - European Union countries on Thursday unanimously backed a plan to impose import duties on 2.8 billion euros ($3.3 billion) worth of U.S. products after Washington hit EU steel and aluminum with tariffs at the start of June, EU sources said.The measures still need to be adopted by the European Commission, whose next scheduled meeting is June 20. They should be in place by late...Read More
BRUSSELS (Reuters) - European Union countries on Thursday unanimously backed a plan to impose import duties on 2.8 billion euros ($3.3 billion) worth of U.S. products after Washington hit EU steel and aluminum with tariffs at the start of June, EU sources said.The measures still need to be adopted by the European Commission, whose next scheduled meeting is June 20. They should be in place by late...Read More
MILAN (Reuters) - Italy will not ratify the European Union’s free trade agreement with Canada, its new agriculture minister said on Thursday, ratcheting up an international trade spat and potentially scuppering the EU’s biggest accord in years.The Comprehensive Economic and Trade Agreement (CETA) is the first major trade deal the European Union has signed since it began implementing it...Read More
LUBUMBASHI, Democratic Republic of Congo, June 14 (Reuters) - Democratic Republic of Congo state miner Gecamines has called on its foreign partners to renegotiate the terms of joint ventures it considers to be unfair, its chairman said on Thursday.Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms. It launched a contracts audit in 2016 and is now...Read More
LUBUMBASHI, Democratic Republic of Congo, June 14 (Reuters) - Democratic Republic of Congo state miner Gecamines has called on its foreign partners to renegotiate the terms of joint ventures it considers to be unfair, its chairman said on Thursday.Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms. It launched a contracts audit in 2016 and is now...Read More
(Bloomberg) -The Democratic Republic of Congo plans to start work this year on the frequently delayed Inga 3 hydropower project, after receiving a joint bid from two previously competing consortia of investors.One group led by China Three Gorges Corp. and another including Actividades de Construccion y Servicios SA of Spain submitted a joint bid on June 6 for the $13.9 billion project that will pr...Read More
The tech shares have pulled back to a historically bullish trendlineApplied Materials, Inc. (NASDAQ:AMAT) fell more than 2% earlier this week after the chip stock was downgraded at RBC. While the shares are trading down another 1% today at $50.49, history suggests it could be time to buy the dip on AMAT.Taking a quick step back, the security has spent 2018 bouncing between $45 and $62, and is curr...Read More
(Kitco News) - Gold is poised to climb in the months ahead despite anotherU.S. interest-rate hike on Wednesday and prospects for further monetarytightening, said two banks in research notes Thursday. “Followingthe seventh U.S. rate hike this cycle and with the promise of two more beforeyear-end, I see the potential for the gold focus turning more supportive,” saidOle Hansen, head of co...Read More
(Kitco News) - Gold is poised to climb in the months ahead despite another U.S. interest-rate hike on Wednesday and prospects for further monetary tightening, said two banks in research notes Thursday. “Following the seventh U.S. rate hike this cycle and with the promise of two more before year-end, I see the potential for the gold focus turning more supportive,” said Ole Hansen, head...Read More
NEW DELHI, June 14 (Reuters) - Vedanta Resources is considering options including lay-offs for some of the 2,000 employees of its iron ore business in southwest India that was shut down by a court, two sources said, as it struggles with a series of setbacks in the country.The Supreme Court in February cancelled all iron ore extraction permits in the southwestern state of Goa and ordered mining to...Read More
NEW DELHI, June 14 (Reuters) - Vedanta Resources is considering options including lay-offs for some of the 2,000 employees of its iron ore business in southwest India that was shut down by a court, two sources said, as it struggles with a series of setbacks in the country.The Supreme Court in February cancelled all iron ore extraction permits in the southwestern state of Goa and ordered mining to...Read More
BEIJING/WASHINGTON (Reuters) - China urged the United States on Thursday to make a “wise decision” on trade, saying it was ready to respond in case Washington chose confrontation, as U.S. President Donald prepares to decide whether to activate tariffs on Chinese goods.Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday. People fa...Read More
LONDON (Reuters) - Prime Minister Theresa May has agreed a compromise with pro-EU MPs in her Conservative Party that offer parliament a vote on future steps in Brexit talks if Britain fails to agree a deal by mid-February, a source said on Thursday.May was forced to quell a rebellion on Tuesday after she faced defeat on a vote in parliament over her Brexit blueprint, or EU withdrawal bill, which w...Read More
Gabriel Resources (TSX-V:GBU) lawsuit against Romania for $4.4 billion in alleged losses related to the company's stalled Rosia Montana gold and silver project, suffered a setback this week as the country told international arbitrators they can't hear the Canadian miner's claim.Romania's government said a recent, ground-breaking court decision had slammed the door on certain investment arbitration...Read More
Gabriel Resources (TSX-V:GBU) lawsuit against Romania for $4.4 billion in alleged losses related to the company's stalled Rosia Montana gold and silver project, suffered a setback this week as the country told international arbitrators they can't hear the Canadian miner's claim.Romania's government said a recent, ground-breaking court decision had slammed the door on certain investment arbitration...Read More
TOKYO, June 14 (Reuters) - Sumitomo Metal Mining, Japan's biggest nickel smelter, expects a global nickel market deficit to widen to 88,000 tonnes this year, from 72,000 tonnes last year, amid solid demand for stainless steel and batteries, an official said on Thursday.Global demand for nickel is seen increasing by 7.3 percent in 2018 from last year to 2.298 million tonnes, while supply rises 6.8...Read More
WASHINGTON (Reuters) - U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter.Other data on Thursday showed a further tightening in labor market conditions, with first-time applications for unemployment benefits unexpect...Read More
(Kitco News) - Gold have lost some of their earlier gains in late-morningaction Thursday, but are still trading with moderate advances on the day. Impressive is the fact that gold and silver prices areholding well above unchanged despite a strong surge in the U.S. dollar index today. Today's gains in the USDX, and its big trading range, are the biggest inquite some time. The fact that gold is fari...Read More