Financial markets ended the week on strong footing as stocks, gold, and Bitcoin all trended higher, with the S&P besting its previous all-time high by a hair, while gold bulls stampeded their way above $2,700/oz for the first time in history.On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. Gold has room to run, according to Kitco's weekly gold survey. 94% of Main Street expects gold to go higher. 72% of Wall Street expected the same. The remainder ...

Copper prices were down 1.7% for the week, but a weekend press conference by China's finance ministry could provide the metal with a lift. On Friday mining audiences manager Michael McCrae recorded Kitco Roundtable. China’s finance ministry holds a Saturday press conference to announce policies to support the country's economy. PRC Macro says the central government could possibly announce a bond quota increase of RMB1-2trn. In mining news, miners such as Orezone, We...

A good jobs report on Friday sustained market momentum.On Saturday, mining audiences manager Michael McCrae recorded Kitco Roundtable. According to the Bureau of Labor Statistics, 254,000 jobs were created last month, marking the strongest employment report in six months. The unemployment rate dropped to 4.1%.Spot gold finished the week at $2,665, roughly unchanged for the week, while silver added $1.20 to hit $32.20. On Friday Coeur Mining announced that it would acquire SilverCres...

This week China's government pumped more liquidity into financial markets and cutting interest rates to try to pull its economy out of a deflationary spiral and back toward its growth target. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. The Chinese stimulus was good for the metals with copper, gold and silver reporting gains. In mining news Fortescue announces plans to buy a fleet of 100 electrical trucks.

Gold prices are ending the week at another record high. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. The Federal Reserve's decision to embark on its first interest rate cut since 2020 has sent ripples through the financial markets. In a bold move, the central bank slashed rates by 50 basis points, bringing the Fed funds rate to a range of 4.75% to 5%. This aggressive cut marks the beginning of what the Fed calls "interest rate normalization," with t...

In an historic week for the precious metals market, gold futures have shattered records, breaching the $2600 per troy ounce threshold for the first time. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. Market are pivoting their attention to next week's Federal Open Market Committee (FOMC) meeting. This gathering is poised to be one of the year's most consequential, with widespread anticipation of the first interest rate cut since 2020. The consensus am...

Soft labor report supports case for rate cut, but how big will be the cut? And First Majestic Silver announces plans to acquire Gatos Silver for $970 million in an all-share deal. On Friday mining audiences manager Michael McCrae recorded Kitco Roundtable. Gold mostly traded sideways this week ending at the 2497 level. Silver ended the week at 27.80. On Friday, U.S. nonfarm payrolls rose by 142,000 last month, according to the Bureau of Labor Statistics. This figure fell short ...

Three pieces of economic news came out this week: housing, GDP and jobless claims. On Thursday, mining audiences manager Michael McCrae hosted Kitco Roundtable. Starting the strong news, The U.S. economy continues to defy the odds, as the nation’s Gross Domestic Product (GDP) experienced solid growth in the second quarter. However, despite this positive economic data, gold prices remain largely unaffected, with the market continuing to consolidate near record levels.On Thursday, the...

Gold finished the week well above $2,500 level. On Friday mining audiences manager Michael McCrae recorded Kitco Roundtable sponsored by Revival Gold. The precious metals were up as Federal Reserve Chair Jerome Powell signals that the central bank is ready to start easing interest rates.In his much-anticipated speech at the Jackson Hole Central Bank Symposium, Powell said that the upside risk to inflation has diminished and risks to the labor market have grown.Lucara Diamond recover...

Gold enjoyed one of its best five-day stretches of the year this week, and ended with a bang, rocketing to fresh all-time highs in both the spot and futures markets. On Friday mining audiences manager recorded Kitco Roundtable sponsored by Revival GoldGold broke definitively through $2,500 to end the week at $2,508. Silver was up, too, ending the week at $29 ounce. The week started off with M&A. Osisko Mining (TSX:OSK) will be acquired by Gold Fields for $1.57 billion (C$2.16 bi...

Kitco News - Markets had a gut-wrenching Monday when the Nikkei plunged 12% which set off a global stock rout, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable sponsored by Revival Gold. The Nikkei news fed the narrative that the Fed may not be able to engineer a soft landing, and a recession could be in the cards. The soft labor market report at the start of the month added to the narrative.Copper had a tough go of it, reflecting general con...

Markets and metals were walloped by a late week sell-off, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. Earlier in the week Federal Reserve Chair Jerome Powell said in a press conference that a case could be made for a cut "as soon as the next meeting.” The central bank’s dovish stance helped to propel gold prices to a new all-time high of $2,500 an ounce mid week. But the market was spooked about concerns that the Fed had be...

Copper futures dropped 3% during the week ending the week at $4.11. On Sunday mining audiences manager recorded Kitco Roundtable. Bloomberg noted that the metal was at its lowest level since April, adding that pessimism about China's prospects, and a heavy selloff in global technology stocks hurt the metal. A big AI buildout, which would require lots of copper for the data centers, became less certain. On Friday Seabridge Gold (TSX: SEA) announced that it had received its...

Copper futures slid 7% to $4.20, the metals worst drop since 2022, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. Worries about China's economy hurt copper. However, gold hit an all-time mid-week on Federal Reserve's pivot, as well as U.S. political developments. In mining news, Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper m...

Victoria Gold said there is "no assurance" the mine its Eagle Mine will reopen.On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. In late June the Yukon mine suffered a heap leach failure at its Eagle Gold Mine. Eagle employs about 500 people. This week, the miner provided an update on its investigation. Gold prices ended their second week above $2,400 an ounce. Gold is seeing fresh bullish momentum following relatively dovish comments from Federal Reserv...

Large investments in copper projects show that miners are optomistic about the metals long term prospects, notes mining audience manager Michael McCrae. On Saturday McCrae recorded an episode of Roundtable. Copper had another down week, with its second consecutive drop. Copper futures were down 1% to end at $4.37. Big copper investments were announced this week, despite the metal's weakness. Reuters reports that copper miner Freeport Indonesia launched its $3.7 billion cop...

Precious and industrial metals end the week on a down note, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. Metals fell after the latest data showed the U.S. housing market underperformed expectations in May, and more investors become spooked about a broader market downturn. In mining news, both Pilbara Minerals and Vale announced big expansion plans.

Gold, silver and copper were all flat this week after big economic news from the Fed, noted Michael McCrae, mining audiences manager. On Saturday McCrae recorded an episode of Kitco Roundtable. On Wednesday the Consumer Price Index was released. The CPI declined to 3.3% on a yearly basis in May from 3.4% in April The latest inflation data was weaker than expected. The number was reassurance for the Fed that it is making progress in taming inflation. Later on Wednesday the Feder...

Commodities sold off this week on the personal consumption expenditures report released on Friday, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable sponsored by Snowline Gold. The report was mixed. Inflation tracked sideways and consumer spending weakened. Analysts say there is little clarity that U.S. central banks will be able to cut rates in the fall.On Wednesday it was announced that BHP (ASX: BHP) ended its attempt to buy Anglo A...

The Federal Reserve put the brake on the metals rally.On Friday mining audiences manager Michael McCrae recorded Kitco Roundtable sponsored by Snowline Gold. At the start of the week, gold prices rallied to a record high above $2,450 an ounce as markets started to solidify expectations that the Federal Reserve was on track to cut rates two times this year, according to a report by Editor Neils Christensen. But at the May FOMC meeting, the minutes showed a general lack of confidence ...

Just ahead of the weekend, silver prices have broken above $30 an ounce, hitting an 11 year high, and the metal is up nearly $10 for the year, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable sponsored by Snowline Gold. Silver miners have broken higher. This month First Majestic is up 16%, Hecla Mining gained 14% and Endeavour Silver jumped 46%. Soaring silver prices have pushed the gold-silver ratio below 80 points, and it...

After two weeks of consolidation, gold is attracting some new bullish attention after holding initial support at around $2,300 an ounce, noted mining audiences manager Michael McCrae. On Saturday, McCrae recorded Kitco Roundtable. Bouncing off its lows at the start of the week, gold hit a two-week high finishing the week at $2,360 level, up about $30 for the week. Silver has managed to push back above $28 an ounce after holding critical support levels. Copper soared finishing t...

The gold market is spinning its wheels, caught in a stalemate, which could create some profit-taking among investors and weigh on prices in the near term, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. Heading into the weekend, markets continue to digest the disappointing nonfarm payrolls numbers. The U.S. economy created 175,000 jobs last month, according to the Bureau of Labor Statistics. The monthly figure missed expectations as economists were...

Given higher than expected inflation print this week, the Federal Reserve is less likely to lower interest rates. On Friday mining audiences manager recorded Kitco Roundtable. Gold investors could see higher volatility next week as the Federal Reserve is expected to signal it will not be ready to lower interest rates before the summer.The weakness comes as the Federal Reserve’s preferred inflation gauge – the core Personal Consumption Expenditures (PCE) index – showed that inflation remains h...