Vancouver, British Columbia, Canada – Thursday, March 15, 2018 – Canada Zinc Metals Corp. (“Canada Zinc Metals” or “the Company”, TSX Venture Exchange: CZX) is pleased to announce that it has formally engaged JDS Energy & Mining Inc. ("JDS") of Vancouver, British Columbia, to conduct a Preliminary Economic Assessment ("PEA") of its 100% o...Read More
Is this the quiet before the storm or the quiet before the quiet? Gold is trading in a narrow and defined trading range. Only eight dollars separates the intraday low and intraday high for today’s trading range. Currently gold futures, basis the most active April contract, is trading -$1.40 lower and fixed at $1,325.70.With next week’s FOMC meeting, traders across the board are looking...Read More
(Kitco News) - Just under a year ago an ounce of gold cost the same as one bitcoin, said Bloomberg Intelligence's Mike McGlone, adding that prices are about to converge once again as the Federal Reserve proceeds with its monetary policy tightening this year.Fed rate hikes played a big role in gold and bitcoin’s paths this past year, McGlone said in a note on Monday, specifying that December...Read More
NEW YORK (Reuters) - U.S. stocks fell on Wednesday after President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war that could raise costs and hurt overseas sales for U.S. companies.The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, the White House said Wednesday.Trump is looking to levy tariffs on up t...Read More
(Kitco News) - While companies are racing into the future to create the latest digital currency, one company has looked to the past for the ultimate global currency.U.K.-Based fintech start-up Glint Pay continues to grow in popularity throughout Britain and Europe as the company has breathed new life into the gold market, monetizing the precious metal for the 21 century.The company made internatio...Read More
(Kitco News) - Gold prices were ending the U.S. day session modestly lower Wednesday, pressured slightly by a firmer U.S. dollar index. The yellow metal ignored a batch of U.S. economic data released earlier today, including a producer price index report that was a bit hotter on inflation than expected. April Comex gold futures were last down $2.70 an ounce at $1,324.40. May Comex silver was last...Read More
Range-bound gold may draw support from fears about a trade war but at the same time be held back by expectations for Federal Reserve interest-rate hikes, says TD Securities. “Rex Tillerson's departure from the White House [as secretary of state] provided a bid, but we expect that it will be short-lived as is typical of similar event-driven rallies,” TDS says. “Meanwhile, increasi...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
Brio Gold Inc. (TSX: BRIO), which has agreed to be bought by Leagold Mining Corp., reports a net loss of $8.9 million in the fourth quarter that was narrower than a $22.1 million loss in the year-ago period. The adjusted loss was $4.6 million, compared to $28.9 million. Gold production in the October-December period was 40,350 ounces, down 20% year-on-year. For full-year 2017, the net loss wa...Read More
Yesterday we wrote that gold has had trouble holding a rally and Tuesday proved our point. Although gold rallied about $6, the rally was weak and not convincing. If gold was strong, the rally should have been stronger, but all it really did was hover around the bottom end of the range. With all of the turmoil and the equities experiencing a turnaround Tuesday, I would have expected a better rally...Read More
The latest news and price moves to start the Asian day on Wednesday March 14.Lead was the strongest performer on the London Metal Exchange on Tuesday March 13, closing 2.2% higher at the 5pm close. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Early starts to the multitude of labor negotiations due at Chilean copper mines this year could mitigate the r...Read More
The European Commission is investigating whether the United Kingdom imposes enough tax on commodity derivative trades, according to the UK Treasury. The Commission issued a "letter of formal notice" in the first stage of what is known as an infraction process, which allows it to sue European Union member states if they fail to adhere to EU law. The letter sets out the Commission's initial views on...Read More
The latest news and price moves to start the Asian day on Wednesday March 14.Lead was the strongest performer on the London Metal Exchange on Tuesday March 13, closing 2.2% higher at the 5pm close. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Early starts to the multitude of labor negotiations due at Chilean copper mines this year could mitigate the r...Read More
Teck Resources and Asian smelters have agreed to cut annual lead concentrate treatment charges (TCs) by 28% in 2018 supply contracts, sources with knowledge of the deals told Metal Bulletin.The deals bring lead concentrate TCs, fees paid to smelters for the costs of processing concentrates into metal, down to $99 per tonne from $138 per tonne last year. Market sources also noted a drop in containe...Read More
Workers at Cobre Panama, the only major copper mine scheduled to come onstream in 2018, have gone on strike, operator First Quantum said on Wednesday March 14."A small number of personnel and their outside union leadership" downed tools on Friday last week, according to a company statement.Although the dominant union is not involved in the strike, development can only be carried out in two of the...Read More
Base metals prices on the London Metal Exchange were on divergent paths at the close on Wednesday March 14, with copper leading the gains. The three-month zinc price was the worst affected today because prices were over 2% lower at the close - fresh deliveries into LME-listed warehouses in New Orleans put pressure on prices. "Zinc is down on account of another 10,000 tonne increase in LME stock ho...Read More
Teck Resources and Asian smelters have agreed to cut annual lead concentrate treatment charges (TCs) by 28% in 2018 supply contracts, sources with knowledge of the deals told Metal Bulletin.The deals bring lead concentrate TCs, fees paid to smelters for the costs of processing concentrates into metal, down to $99 per tonne from $138 per tonne last year. Market sources also noted a drop in containe...Read More
Workers at Cobre Panama, the only major copper mine scheduled to come onstream in 2018, have gone on strike, operator First Quantum said on Wednesday March 14."A small number of personnel and their outside union leadership" downed tools on Friday last week, according to a company statement.Although the dominant union is not involved in the strike, development can only be carried out in two of the...Read More
Weakening demand for rebar in the Turkish domestic and export markets has kept Turkish steel producers out of the deep-sea scrap markets, sources said on Wednesday March 14.Turkish steel producers paused their deep-sea scrap purchases after the Section 232 import tariffs were officially signed into effect in the United States, adding a 25% import duty on all steel product imports, exempting only C...Read More
The US Commodity Futures Trading Commission (CFTC) is reassessing its approach to formulation, implementing and enforcing its regulations, the chairman of the regulatory body said. The regulator is committed to "right-sizing" the CFTC's regulatory footprint following years of expansive Dodd-Frank rule writing, J Christopher Giancarlo told delegates at the 43rd annual Futures Industry Association (...Read More