Metal Market News

(Kitco News) - Eldorado's Q1 2021 preliminary gold production of 111,742 ounces is in-line with the company’s 2021 annual guidance.

(Kitco News) - Risk-off sentiment might be making a comeback in the second quarter, with "early indications" of a price turnaround for gold, according to StoneX.

(Kitco News) - The world's largest off-grid solar battery hybrid system in the mining industry at the Fekola gold mine in Mali, West Africa, according to an announcement made today by Suntrace GmbH and BayWa re.

(Kitco News) - Glencore said Monday it signed a memorandum of understanding for the cooperation on carbon capture utilization and storage technology with China Huaneng Group Clean Energy Research Institute.

(Kitco News) - Equinox Gold (TSX: EQX, NYSE American: EQX) said Monday it is commencing the Bermejal underground mine development, one of the three planned expansion projects at the Los Filos Mine in Mexico. Higher grade ore from the Bermejal underground mine will contribute to increasing production at Los Filos in future years.

(Kitco News) - Ascot Resources (TSX: AOT; OTCQX: AOTVF) announced Monday that Yamana Gold has agreed to purchase 24,000,000 common shares of the company at an issue price of $0.86 per share for the total of C$20,640,000.

(Kitco News) - Amerigo Resources (TSX: ARG; ARREF:OTC) reported today that the Minera Valle Central ("MVC"), the company’s 100% owned operation located near Rancagua, Chile, produced 15.5 million pounds of copper at a cash cost of $1.89 per pound and 0.4 million pounds of molybdenum in Q1 2021.

(Kitco News) - East Africa Metals (TSXV: EAM) announced that its Tanzanian partner, PMM Mining ("PMM"), has begun tailings re-processing operations on schedule.

(Kitco News) - Russia's Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announced Monday that the company has resumed production at the Oktyabrsky mine after successfully dealing with the flood.

(Kitco News) - Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) reported today that the company produced 1,913,755 ounces of silver in Q1 2021, a 5 percent increase over Q1 2020.

(Kitco News) - Jaguar Mining (TSX: JAG, OTCQX:JAGGF) today announced that the company’s consolidated gold production decreased 14% to 18,161 ounces in Q1 2021 compared to 21,008 ounces in Q1 2020. Grade also decreased to 3.10 g/t in Q1 2021 compared to 4.15 g/t in Q1 2020.

(Kitco News) - Gold and silver prices are lower in midday U.S. trading Monday, as the shorter-term futures traders are again pressing the short side of the markets to start the trading week, amid a lack of fresh, markets-moving fundamental news.

(Kitco News) - Despite its dismal performance, silver remains the precious metals to watch. It could outperform gold as the global economy sees a robust recovery, according to one precious metals firm.

(Kitco News) - Higher inflation expectations have not been fully priced in by the gold market yet, according to Standard Chartered, which sees upside potential for the precious metal in Q2 and Q3.

(Kitco News) - Gold investors remain laser-focused on the bond market. The selloff and rising yields have been the biggest factor weighing on the precious metal since the start of the year; however, the World Gold Council said that investors don't have to worry about bond yields even if they push to 2.5%.

(Kitco News) - Bitcoin-U.S. dollar prices are solidly higher and near the record high in early U.S. trading Monday. The bulls have regained upside momentum to suggest new highs are coming soon.

(Kitco News) - Gold and silver prices are not trading far from unchanged levels in early U.S. trading Monday, as the metals are pausing along with most global equity markets, as they await new fundamental inputs this week.

(Kitco News) - Reuters has reported this morning that the European Union has put some provisional tariffs on aluminium flat-rolled products from China after an initial investigation uncovered that they were being sold into the bloc at artificially low prices.

It has been reported that during the month of March gold imports to India reached their highest levels in nearly two years. At the moment it is the wedding season in the nation and also there has been a retracement in the spot gold price so this could also be acting as an incentive for buyers.

(Kitco News) - Gold and silver have moved lower in the first Asian trading session of the week. Gold is now 0.27% lower trading just under $1740/oz, if the price does keep falling keep an eye on the $1730/oz area for some intraday support. Silver is still trading just above the $25/oz area after falling 0.47% overnight.