Tahoe Resources To Acquire Rio Alto Mining
(Kitco News) – Tahoe Resources Inc. (TSX:THO)(NYSE:TAHO) is set to acquire Rio Alto Mining Ltd. (TSX:RIO)(NYSE:RIOM) in a deal valued at more than C$1 billion.
DRC Government Worrying Mining Industry – DRC Chamber Of Mines
The Democratic Republic of Congo’s Chamber of Mines believes the recent “decision by the DRC’s Ministry of Mines to suspend consultations with the DRC’s mining industry about the country’s proposed new mining code, and to refer it in draft legislation form to parliament instead, poses a material threat to further investment.”
CFTC Shows Gold, Silver Long Positions Cut As Fed Prepares To Hike Rates – Analysts
(Kitco News) – As analysts were expecting, data from the U.S. Commodity Futures Trading Commission (CFTC) shows that money managers reduced their exposure to long gold and silver positions as of last week.
Read moreGold Holds 40-Day Moving Average, Safe-Haven Bounce
(Kitco News) – Gold futures popped higher in overnight action and is firm in early New York trading. Safe-haven demand is supporting gold amid on-going uncertainty about the political situation regarding Greece and the eurozone continues. The new Greek government is expected to need a new funding program once the current bailout concludes at the end of February.
Gold Leads Pack in Mining Deals – RBC
The commodities’ slump is sparking a resurgence of deals by mining-focused private equity groups, says RBC Capital Markets. Citing Bloomberg Intelligence, RBC says that a “swathe of funds,” were started at the tail-end of a decade-long commodities boom, raising more than $12 billion in the last two years.
Gold Sees Some Safe-Haven Demand And A Corrective Bounce
Gold prices are modestly higher in early U.S. trading Monday, lifted on some modest safe-haven demand and by an upside technical correction following Friday’s strong losses that drive prices to a three-week low.
Gold Could Suffer Next Week As Market Expectations Shift To June Rate Hike – Analysts
(Kitco News) – A stronger-than-expected U.S. employment report caused gold to break below a key support level, ending the week at its lowest point since Jan. 12.
Endeavour Mining Receives Final Mine Permit For Houndé
Endeavour Mining Corp. (TSX:EDV)(ASX:EVR) received its final mining permit for its Burkina Faso-based Houndé gold project.
Analysts See More Short-Term Weakness For Gold Following Strong Jobs Report
(Kitco News) – January’s U.S. employment data is fueling expectations at the Federal Reserve will raise interest rates by June, or September this year, which analysts expect to continue hurting the yellow metal in the year-term.
Mitsubishi: Safe-Haven Demand For Gold Outweighed By U.S. Dollar Strength
The gold market appears to be in a tug of war with uncertainty: in Europe, with Greece boosting safe-haven demand on one side, and a strong U.S. dollar on the other side, says Jonathan Butler, precious metals strategist at Mitsubishi Corporation.
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