This meeting was the first deep dive on timing, pace, and composition , but no decision was made,” Powell said. “Since the committee adopted its asset purchase guidance last December, we also reviewed some considerations around how our asset purchases might be adjusted, including their pace and composition once economic conditions warrant a change,” he […]
Instead of seeing a rally amid this risk-off tone, gold is struggling to hold the $1,800 an ounce level. “10yr yields are being pressured to 1.22%, EM/FX is being hit, the VIX is creeping up on 20, and U.S. Yet, in light of all these factors, gold’s rally is nowhere to be seen. Based on […]
“It doesn’t feel like we’re in for a major announcement that shocks the U.S. “Nuance matters though, and single words move markets – or in the case of the June FOMC it was the projections for the fed funds rate – the ‘dot plot’ – which kicked some volatility into markets, with calls for two […]
Heaping pressure on the metal was a stronger dollar index that held close to a 3-1/2-month peak and firmer benchmark Treasury yields. …Read the full story
In the rest of the commodities complex, copper has pushed 0.67% higher and spot WTI is trading flat after an impressive 5.78% climb on Wednesday. In the crypto space, it seems that Bitcoin has successfully defended the $30k level for now as the bulls have managed to push the price to $32k. …Read the full […]
weekly jobless claims jumped more than expected. …Read the full story
The just-released U.S. The ECB said it will keep monetary policy easy and maybe easier until the target inflation rate of 2.0% is reached. Technically, gold futures bulls have lost their slight overall near-term technical advantage as a price uptrend on the daily bar chart has been negated. The silver bears have the firm overall […]
August gold futures were last down $8.50 at $1,802.80 and September Comex silver was last up $0.255 at $25.25 an ounce. At mid-week the marketplace remains concerned about the new variant of Covid-19 that is spreading and becoming increasingly worrisome—right as many North Americans and Europeans are getting ready to take family vacations and as […]
The company said that expansion to the existing heap leach pad is required to accommodate the additional ore reserve tonnes defined during exploration drill campaigns in 2019 and 2020. The heap leach pad construction contractor is mobilizing equipment to site and phase two construction is expected to begin shortly. …Read the full story
“After every major economic crisis that we’ve had, we’ve adjusted our economic thesis — how we approach markets from a central bank perspective and how we manage economies going forward,” Deane pointed out. It’s a real fine line that they have to walk whereby raising rates doesn’t dramatically cause a huge U-turn in the economic […]
Gold and silver traders are watching the important outside markets early this week, amid a lack of major, markets-moving fundamental news. Meantime, Nymex crude oil prices are firmer on a corrective bounce after dropping sharply and hitting a five-week low on Monday, and are trading around $66.60 a barrel. Trader and investor risk appetite is […]
Conditions precedent to closing include the completion of technical, legal, and environmental and social due diligence, the receipt and review of the project’s final development budget and schedule, the completion of definitive documentation, and the receipt of applicable environmental permits, operating licences and regulatory approvals. The company added that the detailed engineering, staffing and procurement […]
The company added that initial capital cost is expected to be relatively modest for a 7,000 tpd underground operation, at approximately $416 million, with total LOM sustaining capital estimated at $318 million primarily for underground mine development and mobile equipment. According to the company’s statement, Wasamac is designed as a modern underground operation with a […]
– After closing higher on Tuesday’s session gold has had another positive Asian session and trades 0.36% higher leading into the European open. In the crypto space, bitcoin is looking vulnerable for a downside break as it trades 2.6% lower at $31,888. Looking ahead to the rest of the session highlights include EU industrial production, Turkish […]
In Turkey, Kisladag performed well in the second quarter with gold production of 44,016 ounces consistent with the plan to deliver 2021 guidance of 140,000 to 150,000 ounces. In the second quarter, operations at the Olympias mine in Greece were affected by work slowdowns as progress was made on transformation efforts in Greece. …Read the […]
Not surprisingly, the platinum market has shown little in the way of definitive direction since the large washout in the middle of June, as physical demand is not expected to ramp up until the auto sector chip shortage is ended and the opening-up of Europe sparks an expansion in diesel vehicles sales. However, both metals […]
“Oil prices would probably only be driven up further if OPEC+ were to stick to its production cuts agreement, i.e. This comes as the Biden administration puts pressure on Saudi Arabia and UAE to reach a deal amid rising gasoline prices in the U.S. Precious metals have benefited from the risk-off tone in the marketplace, […]
And therefore, even though it may not return anything or pay interest at this point, being in cash to take advantage of those substantial declines in prices is now prudent, at least for me,” he said. The expectation now is that it’s $2.7 million to live a so-called decent lifestyle in retirement, and that’s one […]
Under the Phase 2, the company said that its Selinsing gold mine is now back to production with up to 80% employees being allowed working at the site. The mine has a 1.00 million tonne per annum gold processing CIL plant which is situated approximately 158km north of Kuala Lumpur. …Read the full story
