Gold Firmer On Friendly Outside Markets, Weaker U.S. Stocks
Gold prices were ending the U.S. day session firmer Thursday, supported by some short covering by the shorter-term futures traders and on perceived bargain hunting in the cash market.
Read moreWall St. on track for worst day in one month
U.S. stocks were on track to record their steepest fall in nearly a month on Thursday amid broad declines, led by retail and bank stocks.
Read moreSilver Selloff Irrational; Fundamentals Support Higher Prices – Randy Smallwood
(Kitco News) -Within the past month, silver has gone from being one of the best-performing assets in financial markets to giving away almost all of its gains this year, but one mining executive remains optimistic on the precious metal during this vola…
Read moreGold Extends Early Gains As Midday Approaches
(Kitco News) – Gold prices have moved to moderately higher levels in late-morning action Thursday. Some selling pressure in the U.S. stock market is aiding the gold market bulls.
Read moreNewmont Agrees To Stake In Continental To Invest In Colombian Project
(Kitco News) – Newmont Mining Corp. (NYSE: NEM) has agreed to invest $109 million for 19.9% ownership of Continental Gold Inc. (TSX: CNL), supporting near-term development of the high-grade Buriticá gold project in Colombia, the companies announced Thursday.
Yamana Raising C$80 Million With Sale Of Brio Gold Shares
Yamana Gold Inc. (TSX: YRI; NYSE: AUY) reports that a group of underwriters has agreed to purchase nearly 26.7 million common shares of Brio Gold currently held by Yamana on a bought deal basis at an offering price of C$3 per Brio share.
Read moreGold Ignores Rise in Pipeline Inflation Pressures
(Kitco News) – Gold prices remain slightly higher, but are ignoring a Labor Department report Tuesday showing that producer prices for finished U.S. goods in rose by a seasonally adjusted 0.5% in April.
U.S. Weekly Jobless Claims Fall By 2,000 To 236,000
(Kitco News) – Initial weekly U.S. jobless claims fell by 2,000 to a seasonally adjusted 236,000 in the week to Saturday, the Labor Department said Thursday. The tally was lower than forecast.
Gold Up On Short Covering, Value Buying
Gold prices are firmer in early U.S. trading Thursday, supported by some short covering by the shorter-term futures traders and on perceived bargain hunting in the cash market.
Read moreSilver Mine Production Drops For First Time In 14 Years – Study
(Kitco News) – (New York City) Global silver mine production in 2016 recorded its first decline since 2002, largely the result of lower by-product output from the lead/zinc and gold sectors – this according to the latest study by an organization committed to the metal’s cause, the Silver Institute.