TheDailyGold Premium Update #527

TheDailyGold #527, a 28-page update has been published. We cover our short-term views on the sector including what sentiment indicators are saying about Gold & Silver as well as the US Dollar. We provide updated comments on our holdings as well comments on a stock we are itching to buy and another company that is […]

Trump slump in dollar lifts gold price to 4-week high

On Friday, the price of gold finally caught up to a weaker US dollar lifting the metal to a four-week high. Gold futures in New York for delivery in August, the most active contract, touched a high of $1,255.90, in brisk trade of more than 23m ounces. Gold has clawed back $50 an ounce since […]

Philippines plans new law to ensure responsible mining

* Duterte says miners pay “too little” in taxes * Duterte plans to meet miners, anti-mining advocates * Duterte seeks “fair arrangement” to benefit people (Adds comments from mining executive, former minister) Philippine President Rodrigo Duterte said on Friday the government will draft a new law for the country’s mining industry, which he said pays […]

Is it worth investing in palladium?

Palladium is another element with great importance to the modern economy, but it’s often overshadowed by the other more famous and expensive precious metals. As the chart below shows, palladium has been generally cheaper than platinum – its more expensive substitute in industrial use and jewelry. Chart 1: The palladium to platinum ratio (red line, […]

Toronto firm closing South African platinum mine

Toronto-based Atlatsa Resources is mothballing its Bokoni  mine in South Africa as part of a debt-cancellation and restructuring deal with joint venture partner Anglo American Platinum (Amplats), the world’s number one platinum group metals miners. Atlatsa, which owns 51% and manages Bokoni, said it will cease operations “as soon as reasonably possible” taking around 150,000 […]

Bitcoin Segwit Activation-The Gold Cartels Worst Nightmare

Not that its experience is any different from the countless “empires” that destroyed themselves from within; but let’s face it, America is rapidly morphing into a Banana Republic. And not just in terms of its monetary policy – as the leader, in the “race to the bottom,” of the terminal phase of history’s largest; most […]

Tanzania officials question Acacia Mining staff in legal spat with Gov’t

Tanzania took in some of Acacia Mining’s (LON:ACA) employees and questioned them this week in an escalation of a legal dispute between the government and the mining company. Early reports claimed that Tanzania had asked foreign workers of the gold miner to leave the country, but a spokesperson for Acacia denied that story. “We are not aware […]

Once rejected Nunavut gold project gets OK from board

Sabina Gold & Silver’s (TSX:SBB) will finally be able to proceed to the licensing stage for its Back River project in Canada’s far north, after additional public hearings held by the company prompted the Nunavut Impact Review Board to reverse an earlier rejection of the proposed mine. The revised report, published Tuesday, was later submitted […]

Acquisition of Canadian gold company contributes to pressure on stock

In resuming coverage of Eldorado Gold following the acquisition of Integra Gold and its Lamaque property, BMO Capital Markets analyst Andrew Kaip looked at the impact of the move, as well as at other factors pressuring Eldorado stock. In a BMO Capital Markets July 10 research report on Eldorado Gold Corp. (ELD:TSX; EGO:NYSE), analyst Andrew Kaip […]

Nevada and Canada miner reports Q2 production up 94%

Klondex Mines Ltd. (KDX:TSX; KLDX:NYSE.MKT) released its second quarter operating results on July 18, reporting record production and sales. The company noted that it produced 66,629 gold equivalent ounces, a 94% increase from the first quarter, and sold 69,522 ounces, a 107% increase from Q1. Mr. Paul Huet, Klondex’s president and CEO stated, “As expected, the operating results […]

The Fed may show Trump no love

Typically, U.S. Presidents are wary of claiming stock market performance as a referendum on their success. Most have seemed to understand that taking credit also means accepting blame, and no one would want to make the tortured argument that the positive moves reflect well on their presidency but that the negative moves do not. But […]

South Africa intends to suspend issuing mining rights

* Chamber of Mines says believes decision “unlawful” * Tussle over mining code raises uncertainty in sector * Mining makes up 7 percent of S.Africa’s GDP (Adds chamber response) South Africa intends to suspend the granting of applications for prospecting and mining rights as well as any renewals pending a court case to review new […]

U.S., Chinese officials conclude contentious economic talks, steel stocks soar

* No new major steps to reduce U.S. trade deficit with China * China, U.S. say still share lower trade deficit goal * China says will expand cooperation in services, trade * U.S. business disappointed with trade talk deadlock * Fears U.S. may impose steel tariffs, quotas on China (Adds comments from Chinese vice finance […]

Central Bank Credibility is Gone! Hosted By Financial Survival Network What’s Really Happening Wednesdays with Andrew Hoffman: The End of Central Bank credibility, and beginning of the Age of the Printing Press The Fed’s “tightening” cycle is over The ECB’s balance sheet is as large as Japan’s economy The BOJ’s balance sheet is equally large, and may drop it’s […]

Centerra gets some breathing room in dispute with Kyrgyz Republic

Canada’s Centerra Gold (TSX:CG) has been granted some provisional relief in its ongoing arbitration against the Kyrgyz Republic and state-owned miner Kyrgyzaltyn, related to the firm’s vast Kumtor gold mine. The miner sought international arbitration in May last year, following the country’s string of penalties, fees and accusations of damaging the environment and violating business deal, all […]

US uranium company advances its assets

Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.MKT) “continues to advance its pipeline of assets while maintaining production optionality,” Heiko Ihle wrote in a July 10 research report. Obtaining “a key license amendment for its expansion at Nichols Ranch” is among the milestones the company has achieved in recent months, stated Ihle. With the license, granted by the U.S. […]

China Minmetals, China National Gold 'unaware' of merger talks

China Minmetals Corp and China National Gold Group are unaware of any merger talks between the two companies, their listed units said on Wednesday, after a Reuters report on a possible deal caused a rally in their shares. Sources with knowledge of the matter told Reuters on Tuesday that China was considering a merger between […]

Peru hit by nationwide mining strike; govt says situation ‘under control’

Peruvian unionized miners began Wednesday an indefinite, nationwide strike in reaction to a government’s reform they see as “anti-workers”, according to the head of a federation of mining unions. Workers at 56 industry unions in the country, the world’s second-largest copper producer, are taking part of the strike, which will affect major mines, including BHP and Glencore’s […]

Gold’s win streak at risk as dollar crawls up from 10-month lows

Gold prices moved lower Wednesday as a weaker dollar stabilized, putting the yellow metal at risk of snapping a three-day win streak that had driven it to the highest level for July. August gold edged down by $1.80, or 0.1%, to $1,240.10 an ounce, trading between $1,235.10 and $1,243.50. The contract settled at $1,241.90 on Tuesday—the […]