Kitco NEWS Roundtable

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, accor...

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 inflatio...

With Middle East conflict unwinding, a focus on the Fed could slow gold's momentum. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. For now, the Israel-Iran conflict seems to have tamped down, which removes some safe-haven demand for gold and puts renewed focus on the Federal Reserve’s monetary policy. This week Federal Reserve Chair Jerome Powell surprised markets w...

Gold jumped another 5% this week with June gold futures hitting $2,350 an ounce. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable. Copper was also on fire, which were up 4.6% for the week to close above $4.20. The copper miners are up 20% year to date and trading at a 52 week high. Gold miners are up just 10% year to date, according to the GDX. U.S. job growth blew pas...

Metals could get a lift with the Fed signaling that it wants to cut interest rates, note mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. Gold ended the week flat with spot at $2165.The metal did spike mid-week. The Federal Reserve has given the all-clear to gold after signaling it still wants to cut interest rates three-times this year, even as inflation rema...

Copper gained nearly 6% this week to trade above $4 pound, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. Copper got a boost with news that potentially less metal will be available. According to Reuters, China announced that it was cutting production at some loss-making copper smelters. Copper bulls see years of low prices along with diminishing produc...

Gold's run is having limited benefit for gold miners, noted mining audiences manager Michael McCrae. On Saturday, McCrae recorded Kitco Roundtable. After an impressive seven-day rally, which pushed prices to an all-time high of $2,203, the gold market could see some consolidation in the near term, writes editor Neils Christensen. Profit taking and the lack of any near term catalysts could dampen g...

Both copper and gold were higher this week with signs that the Fed may be easing as soon as June. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable with correspondent Paul Harris.

Gold recovered after tumbling mid week due to a hotter than expected CPI number, noted mining audiences manager Michael McCrae. On Saturday McCrae and Kitco correspondent Paul Harris recorded Kitco Roundtable. On Tuesday the Labor Statistics said that its Consumer Price Index rose 0.3% in January, higher than the Consensus forecasts of 0.2% increase. Markets tumbled and gold dropped below the 2000...

New Gold announced a big production update this week, noted mining audiences manager Michael McCrae. On Saturday, McCrae recorded Kitco Roundtable with correspondent Paul Harris. New Gold reported that consolidated gold production is expected to increase by approximately 35% from 2023 to 410,000 to 460,000 ounces in 2026 driven by increasing production profiles at both Rainy River and New Afton as...

Metals traded lower end of week when jobs data came in stronger than expected, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. On Friday jobs data showed the U.S. economy created a whopping 353,000 jobs last month, significantly beating expectations. Markets see only a 20% chance of a rate cut in March, and they have...

The copper market is setting up nicely and prices for the metal should head higher, noted Kitco correspondent Paul Harris. On Monday Harris, mining audiences manager Michael McCrae and Soar Financial CEO Kai Hoffmann recorded Kitco Roundtable at the Vancouver Resource Investment Conference. Harris noted that copper supply is starting to dwindle, while energy transition is increasing demand. The th...

A Chinese miner made a large investment into a Latin American copper developer, noted Kitco correspondent Paul Harris. On Saturday Harris and mining audiences manager Michael McCrae recorded Kitco Roundtable. Earlier this week Solaris Resources announced a $130 million strategic investment by Zijin Mining Group. Solaris is advancing its Warintza project, a high-grade open pit copper resource in Ec...

Uranium leaped to a new high, noted mining audiences manager Michael McCrae. On Saturday McCrae and Kitco correspondent Paul Harris recorded Kitco Roundtable. Uranium traded as high as $100 this week according to pricing data provider UxC. The metal is has tripled in the past two years. Uranium was propelled higher when mining giant Kazatomprom announced a production shortfall of the metal due to...

Gold has had a solid year, overcoming the Fed's higher interest rate regime, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable. Spot gold managed to finish the final trading day of 2023 in the 2060 range, up about $200 from the start of the year. In mining news top ten gold miner, Agnico Eagle (NYSE: AEM), announced today it was investing $23.12 million in C...

On Friday gold prices fell on strong job numbers from the U.S., noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable. Friday was jobs day. The U.S. economy created 199,000 jobs last month, beating expectations. At the same time, the unemployment rate dropped to 3.7%, down from 3.9% in October. The strong economy implied that the Fed is further away from easing....

Gold finally hit a record high, and the copper markets had a big supply shock, said mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable. February gold futures last traded at $2,091.90 an ounce, up more than 4% from last Friday's close. Gold's previous record was at $2,089.20 in August 2020, wrote Kitco editor Neils Christensen. Gold is seeing renewed buying momentum...

To end the week gold has spent much of the time trading above $2,000 a ounce, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable. After the good CPI numbers earlier this month that may allow the Fed to stop hiking, gold has found room to rise. Notable economic number this week were the the S&P Global Flash U.S. manufacturing and services PMI. Manufacturing co...

Commodities and markets were up this week off the good consumer price index report, which came in below market expectations, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable. The GDX, a index of gold miners, was up 5% on the week. The S&P was up half that amount. Gold added about $40 for the week to end at the 1980s range. Mid-week consumer price index re...

Commodities traded down this week after the Federal Reserve Chair Jerome Powell made hawkish remarks at a news conference. On Sunday mining audiences manager Michael McCrae recorded Kitco Roundtable. Powell warned markets that although inflation has come down from last year’s 40-year highs, the Fed still has work to do. He said that the central bank is not “confident” that it has inflation under c...

Gold is deferring a break higher, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable with correspondent Paul Harris. Key economic news this week was the jobs report. Non-farm payrolls number come in at up 150,000 versus market expectations of 170,000. The report fell into the camp of the U.S. monetary policy doves, who want the Federal Reserve to stop raisi...

A Fed rate-hike pause at next week's FOMC meeting is likely, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris. Also noted during Roundtable was Piedmont Lithium and partner Atlantic Lithium obtaining permits for the Ewoyaa project in Ghana.

War worries and a possible end to Fed tightening are some of the reasons gold is rebounding, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and QC Copper & Gold CEO Stephen Stewart. The gold price has been on an unstoppable move higher when war fears entered the marketplace last week, that according to Kitco contributor Davi...

The set up for copper looks good, said EMX Royalty CEO David Cole. On Friday Cole recorded Kitco Roundtable with mining audiences manager Michael McCrae. With the Federal Reserve looking to be near the end of its tightening cycle and geopolitical concerns, the vice-grip that monetary policy has exerted on gold through most of 2023 is starting to weaken, giving the market room to run. After hitting...