U.S. Income Gain Outpaces Spending in FebruaryConsumer spending lagged behind income growth for a second month in February, showing American households were taking a breather after a late-2017 surge. Inflation, meanwhile, ticked up.Purchases, which account for about 70 percent of the economy, rose 0.2 percent after a similar advance at the start of the year, Commerce Department figures showed Thur...Read More
(Kitco News) - Gold pricesare slightly higher in early U.S. trading Thursday, as the market has pausedfrom this week’s selling pressure. Gold and silver traders are still on thedefensive, as their chart postures have deteriorated a bit this week. April Comex gold futures were last up $1.30 an ounce at $1,325.50. May Comex silver was last up $0.002 at $16.255 an ounce.Worldstock markets were...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
The roller-coaster ride for gold and silver continues. After last week's big rally, this week's sell-off hastaken away most of those gains. The action, although painful, is no surprisebased on the pattern that the metals are in.Gold at $1,300 and silver at $16 arecertainly in play here. The failure to take out the top end of the range bringspressure on the metals, increasing the odds that the bott...Read More
By Oliver GriffinGlencore PLC (GLEN.LN) said on Thursday that it raised $9.09 billion to refinance its short-term revolving credit facilities, effective from May 24. The Anglo-Swiss miner and commodities trader said that facilities were initially launched at $6 billion but were significantly oversubscribed, raising $9.70 billion, and added that the stronger commodity price environment is what all...Read More
Miners operating in the Democratic Republic of Congo submitted Thursday a new proposal for the government related to the recently passed new mining code, which substantially increases the cost of doing business in the central African nation.The likes of Glencore, Randgold, Zijin, China Molybdenum and Ivanhoe, among others, are suggesting a sliding scale of royalty rates for key commodities instead...Read More
Miners operating in the Democratic Republic of Congo submitted Thursday a new proposal for the government related to the recently passed new mining code, which substantially increases the cost of doing business in the central African nation.The likes of Glencore, Randgold, Zijin, China Molybdenum and Ivanhoe, among others, are suggesting a sliding scale of royalty rates for key commodities instead...Read More
Miners operating in the Democratic Republic of Congo submitted Thursday a new proposal for the government related to the recently passed new mining code, which substantially increases the cost of doing business in the central African nation.The likes of Glencore, Randgold, Zijin, China Molybdenum and Ivanhoe, among others, are suggesting a sliding scale of royalty rates for key commodities instead...Read More
TORONTO - Peter Munk, a Canadian immigrant who founded Barrick Gold and turned it into the world's largest gold producer, died Wednesday. He was 90. His daughter Nina Munk saidRead full newsRead More
Shares of gold miners have fared worse than the precious metal itself over the past year-a development that is fueling concern about bullion's ability to keep climbing.Read full newsRead More
Wheaton Precious Metals Inc. (TSX:WPM)(NYSE:WPM) has a unique and exciting business model that allows it to reward investors with relatively low risk and a variable dividend.Read full newsRead More
South Africa's Gold Fields (JSE, NYSE: GFI) and Canada's Asanko Gold (TSX: AKG) are teaming up to develop one of Ghana's newest gold mine, the Asanko Gold Mine (AGM), is located in the country's Ashanti Region.As part of the deal, Gold Fields is acquiring a 50% stake in Asanko's local subsidiary, which gives it a 90% ownership in AGM, for a total of $203 million. The Vancouver-based firm is also g...Read More
South Africa's Gold Fields (JSE, NYSE: GFI) and Canada's Asanko Gold (TSX: AKG) are teaming up to develop one of Ghana's newest gold mine, the Asanko Gold Mine (AGM), is located in the country's Ashanti Region.As part of the deal, Gold Fields is acquiring a 50% stake in Asanko's local subsidiary, which gives it a 90% ownership in AGM, for a total of $203 million. The Vancouver-based firm is also g...Read More
Prices heading for third quarterly rise as ETF demand picks upBolton's addition to Trump's team may spur gains, ANZ predictsSell Bitcoin, Buy Gold? Gold bulls are finding 2018 offers plenty of reasons to be cheerful.Bullion’s wrapping up a third quarterly gain, a feat not seen since 2011, and exchange-traded fund holdings are near the highest in a half-decade. Haven demand may also get a bo...Read More
Salt Lake City, Utah: 28 March 2018 - Boart Longyear announces it is adding new exploration drill rigs to its Drilling Services fleet around the world to meet the demand of expanding exploration budgets.Latin AmericaIn Chile, a brand new LF?,,?160 top-drive coring rig is being added to a current customer project where two LF160 rigs are already working onsite. The LF160 rig paired with the FL262 F...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average has declined 3.5% so far in 2018. If it closes lower in the first quarter, a nine-quarter streak of gains will end.The Dow was on pace for its worst month of trading since January 2016.The final reading for U.S. GDP in the fourth quarter was up 2.9%. Wall Street Overview U.S. stocks weren...Read More
Former Export Development Canada senior manager Amelie St-Onge has joined leading privately-owned international mining software company Micromine as its Canada regional manager, based in Vancouver.Staff reporter29 MARCH 201829/03/2018commentsshareSt-Onge, who has a Queen's University MBA, spent the past nine years with Export Development Canada, most recently leading development of EDC's relations...Read More
Mining contractor Watpac (ASX: WTP) is considering an exit from mining as failure to secure new work hampers its expected full-year results.Staff reporterWatpac weighs mining exit29 MARCH 201829/03/2018commentsshare The company said this week that due to the disappointing performance of its mining business and the impact of legacy residential projects, it expected to post a full-year underlying ne...Read More
Salt Lake City-headquartered Boart Longyear said this week it had added a handful of new drill rigs to a global fleet that shrunk last year by 19%. The penny stock that continues to trade on the ASX (BLY) after last year's massive debt-for-equity debt restructuring says "expanding exploration budgets" have spurred rig purchases in the Americas and Africa.Staff reporter Boart Longyear has added a h...Read More