US-based Planetary Resources is now a step closer to begin mining asteroids as it successfully launched Thursday night its Arkyd-6 spacecraft, the company's second technology for celestial bodies-observing tests.The Redmond, Washington-based firm had been working on its Arkyd-6 imaging satellite for years with the goal of developing a tool able to deliver affordable, on-demand intelligence of n...Read More
Mr. Joseph Campbell reportsTERRAX ACQUIRES PTARMIGAN MINE PROPERTY ON EASTBELT, YELLOWKNIFE CITY GOLDTerrax Minerals Inc. has entered into an agreement to acquire the Ptarmigan mine property, located within its Eastbelt property at the Yellowknife City gold project.The Ptarmigan mine was a gold producer in the Yellowknife gold district from 1941 to 1942, in 1983, and from 1985 to 1997.The main Pta...Read More
Mr. Joseph Campbell reportsTERRAX ACQUIRES PTARMIGAN MINE PROPERTY ON EASTBELT, YELLOWKNIFE CITY GOLDTerrax Minerals Inc. has entered into an agreement to acquire the Ptarmigan mine property, located within its Eastbelt property at the Yellowknife City gold project.The Ptarmigan mine was a gold producer in the Yellowknife gold district from 1941 to 1942, in 1983, and from 1985 to 1997.The main Pta...Read More
Futures on the Dow Jones Industrial Average (DJI) are trading well above fair value, after the blue-chip index closed at a fresh record high on Thursday. Traders are cheering signs of political stabilization in Germany -- where Chancellor Angela Merkel's CDU party and Martin Schulz's Social Democratic party have reportedly agreed to an outline to begin formal coalition negotiations -- as well as d...Read More
The equity markets have been as crazy as I have seen since the Internet bubble of the 1990s with one major difference -- they never go down. The dot.com craze was wild in both directions; stocks always ended up higher but had major swings of 3% to 5%. Today's market has not seen a down move of 3% in two years, which is the longest such period in history. For the last month, the gold market has bee...Read More
The equity markets have been ascrazy as I have seen since the Internet bubble of the 1990s with one majordifference -- they never go down. The dot.com craze was wild in bothdirections; stocks always ended up higher but had major swings of 3% to 5%.Today's market has not seen a down move of 3% in two years, which is thelongest such period in history.For the last month, the gold market has been acti...Read More
By I Made SentanaJAKARTA-PT Indonesia Asahan Aluminium, or Inalum, got the mandate Friday to buy a 41.64% stake in the local unit of Freeport-McMoRan Inc., but the two parties haven't reached an agreement on the value of the stake. The move will increase the state-owned company's ownership to 51% from 9.36%, which is currently held by the government. After years of negotiation, the U.S. mining com...Read More
(Kitco News) - Gold pricesare moderately higher in early U.S. trading Friday, but off theovernight gains that notched a four-month high. U.S. consumer price inflationthat was a bit higher than expected helped to pull the gold market off itsovernight highs. However, gold and silver prices are being supported by aslumping U.S. dollar index and a surging Euro currency. February Comex gold waslast up...Read More
WASHINGTON, Jan 12 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday that he believes the Republican tax cuts will ultimately become revenue neutral over 10 years due to higher growth, but the Treasury will likely ask Congress for more money to implement the plan."We think there will be over $1 trillion in growth, so I do think this will pay for itself," Mnuchin told an e...Read More
(Kitco News) - Gold prices are moderately higher in early U.S. trading Friday, but off the overnight gains that notched a four-month high. U.S. consumer price inflation that was a bit higher than expected helped to pull the gold market off its overnight highs. However, gold and silver prices are being supported by a slumping U.S. dollar index and a surging Euro currency. February Comex gold was la...Read More
Editor's Note: Updating earlier story with more details from report, current prices.(Kitco News) - Goldfutures pared overnight gains slightly after a Commerce Department report Fridayshowing that U.S. retail sales rose by 0.4% to $495.4 billion in December. Sales excluding autos were also up 0.4%.The headline number was slightly below consensusexpectations compiled by news organizations that had b...Read More
(Kitco News)- Gold prices have fallen from their four-month highsfollowing stronger-than-expected U.S. inflation data.Friday,the U.S. Consumer Price Index rose 0.1% in December, after increasing 0.4% in November,the U.S. Labor Department said. According to consensus forecasts, economistswere expecting to see an increase of 0.1%.However,monthly core inflation, which strips out volatile food and ene...Read More
Russian miner Alrosa (MCX:ALRS), the world's top diamond producer by output, received Friday approval from Angolan President Joao Louren??o to expand its stake in local producer Catoca.The deal, worth $70 million, gives Alrosa a further 8.2% stake in Catoca Mining, providing the diamond giant with access to a production base outside Russia.Deal gives Alrosa a further 8.2% stake in Catoca Mining, p...Read More
Russian miner Alrosa (MCX:ALRS), the world's top diamond producer by output, received Friday approval from Angolan President Joao Louren??o to expand its stake in local producer Catoca.The deal, worth $70 million, gives Alrosa a further 8.2% stake in Catoca Mining, providing the diamond giant with access to a production base outside Russia.Deal gives Alrosa a further 8.2% stake in Catoca Mining, p...Read More
(Kitco News) - First Majestic Silver Corp. (TSX: FR; NYSE: AG) has agreed to acquire Primero MiningCorp. (TSX: P) in an all-stockdeal, the companies announced Friday.With the addition ofPrimero’s San Dimas silver-gold mine in Mexico, First Majestic said it anticipatescompany annualized silver-equivalent production of 27 million to 30 millionounces. First Majestic already operates six mi...Read More
(Kitco News) - Gold broke above the $1,322 level as the dollar came underfurther pressure overnight. With growth in Europe accelerating, the markets are expecting the ECB to begin amore aggressive tightening cycle. Physical demand in Asia has also picked upahead of the Chinese Lunar New Year. The recent move in gold has been almostentirely correlated to dollar weakness, which continues to remain t...Read More
(Kitco News) - Gold broke above the $1,322 level as the dollar came under further pressure overnight. With growth in Europe accelerating, the markets are expecting the ECB to begin a more aggressive tightening cycle. Physical demand in Asia has also picked up ahead of the Chinese Lunar New Year. The recent move in gold has been almost entirely correlated to dollar weakness, which continues to rema...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
Indonesian authorities inked Friday a deal with state-owned holding Asahan Aluminum, or Inalum, which sets a framework for Freeport-McMoRan (NYSE:FCX) to transfer control of its massive Grasberg copper and gold mine as agreed last year.The country and the Phoenix, Arizona-based miner had arranged in principle in August that up to a 51% stake in Freeport's local unit, PT Freeport Indonesia (PTFI),...Read More