Mineral Resources Minister Meets With Harmony At Kusasalethu
Following a fire at Harmony Gold Mining Co. Ltd.’s (NYSE:HMY)(JSE:HAR) South African-based Kusasalethu underground mine Sunday, where all 486 miners in the mine were rescued, the country’s Minister of Mineral Resources Ngoako Ramatlhodi paid a visit to the mine.
Gold-Backed ETPs Continue To Attract Long-Term Investors
(Kitco News) – The gold market continues to attract long-term investors as gold-backed exchange-traded products (ETPs) continue to see weekly inflows, despite a drop in future prices.
Read moreU.S. Existing Home Sales Fall 4.9% In January
(Kitco News) – The winter chill appears to be impacting the housing market as fewer U.S. consumers bought homes in January, according to the latest report from the National Association of Realtors (NAR).
Read moreGold Bulls Hooked Ahead Of Yellen Testimony
(Kitco News) – Comex April gold futures are weaker Monday, but off overnight lows. For now, gold bulls are tentatively defending a key technical zone, which including a rising bull trendline and key Fibonacci retracement support zone. Fundamentally, all eyes are on U.S. Federal Reserve chairman Janet Yellen this week as she readies for her semi-annual monetary policy testimony to Congress on Tuesday and Wednesday.
First Majestic Posts 4Q, FY Loss; Impairment Stings Earnings
(Kitco News) – First Majestic Silver Corp. (TSX:FR)(NYSE:AG) reported a net loss after taxes for the fourth quarter totaling $64.6 million, lower than last year’s fourth quarter net loss of $81.2 million, while the company’s full-year loss stood at $61.4 million, higher than 2013’s loss of $38.2 million.
Gold Down, Hits 7-Week Low, on Greece-EU Deal, Bearish Outside Markets
Kitco News) – Gold prices are under moderate selling pressure and hit a seven-week low in early U.S. trading Monday, on some better risk appetite in the market place and amid bearish outside markets—a stronger U.S. dollar index and lower crude oil prices.
Gold Could Fall Next Week On Yellen, Tentative Greece Deal
(Kitco News) – Gold prices could see some more pressure in the near-term as the market ends the week in negative territory.
Centerra’s Project Pipeline Poised To Give Sequential Growth
(Kitco News) – With a lot of gold mining companies focused on battening down the hatches and riding out this low gold price environment, while watching costs, Centerra Gold Inc.’s (TSX:CG) project pipeline shows promise.
Greece Can’t Stick To A Deadline, But The NHL Can – TD Securities
Gold and silver traders are having a hard time handling volatility as the metals react to every headline surrounding the U.S. Federal Reserve and uncertainty in Greece, says Steve Scacalossi, director and head of sales for TD Securities, adding that it will likely continue. “The games will continue as we head to the first deadline of Feb 28th when the Greek bailout package officially ends,” he says. “[I]t was supposed to end in December, but that was extended, and likely will be extended again… Same goes for the Fed, where two weeks ago things were quite dovish, turned hawkish, and now sentiment has shifted back to dovish,” he adds. On a lighter note, comparing financial markets to the NHL, Scacalossi says at least hockey fans know that the NHL sticks to its deadlines. “I can only point to the world of sports where with certainty we know that March 2 is definitely the trading deadline for the NHL.”
U.S. Flash PMI Rises To 54.3 In February
(Kitco News) – The U.S. manufacturing sector is finding some momentum in February, reversing some of the weakness at the start of the year, according to the latest Purchasing Managers Index data.
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