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Allen Sykora

Allen Sykora

Senior Reporter

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Allen Sykora reports on precious metals and the mining industry for Kitco News. He has covered foreign-exchange and commodity markets for Futures World News, Dow Jones Newswires and Kitco for 25 years. He holds a mass communications degree from Mankato State University in Minnesota and worked as a reporter and editor at newspapers in Minnesota, Iowa and Alaska before becoming a financial journalist.

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Gold To Trade At $1,425 In 12 Months, Boosted By EM Demand: Goldman

(Kitco News) - Goldman Sachs is upbeat about gold prices, looking for the metal to draw support from emerging-market demand and rise to around $1,425 in 12 months.

Gran Colombia Gold CEO: 2019 Output Could Exceed Guidance

(Kitco News) - Gran Colombia Gold Corp.’s (TSX: GCM) year-to-date output is higher than it was during the same period in 2018, and the company’s chief executive said the producer could be setting itself up to top 2019 production guidance.

Money Managers Hike Bullish Gold Positioning; Some Fear Price Correction

(Kitco News) - Large speculators upped their bullish positioning in gold futures sharply for the third straight reporting week for data compiled by the Commodity Futures Trading Commission, but the net long has risen so fast that some market watchers now wonder if gold prices might not be due for a correction lower.

Pan American Silver Suspends Argentine Operations After Fatal Accident

(Kitco News) - Pan American Silver Corp. (Nasdaq, TSX: PAAS) has suspended operations at its Manantial Espejo, COSE and Joaquin mines in Argentina following a fatal accident.

Newmont Goldcorp Resumes Operations At Peñasquito Mine

(Kitco News) - Newmont Goldcorp Corp. (NYSE: NEM, TSX: NGT) is ramping up operations at the Peñasquito mine in Mexico after a suspension that began in late April, the company announced Monday.

BBH: FOMC Rate Cut This Week Unlikely; Less Chance Of Recession

(Kitco News) - Financial markets are not expecting a U.S. interest-rate cut this week as the economy shows signs of improving and the yield curve signals a decreased chance of a recession, said Brown Brothers Harriman.

Wall St, Main St. Look For Still-Higher Gold Prices

(Kitco News) - Gold hit its highest levels in more than a year on Friday, and Wall Street and Main Street look for the momentum to continue next week, based on the weekly Kitco News gold survey.

FXTM: Gold Shines On 'Sprint' Into Safe Havens

(Kitco News) - Gold continues to rise on demand for safe havens, and a weekly close above $1,360 an ounce would open the doors towards $1,372 and $1,390, said Lukman Otunuga, research analyst at FXTM.

Agnico Eagle Offers To Acquire Alexandria Minerals

(Kitco News) - Agnico Eagle Mines Ltd. (NYSE, TSX: AEM) has made an offer to acquire Alexandria Minerals Corp. (TSXV: AZX), a Toronto-based junior gold and exploration company, for C$26 million, the companies reported Friday.

Standard Chartered: Gold Better Supported Above $1,300 Amid Rate-Cut Expectations

Holdings of gold by global exchange-traded funds have jumped by 52 tonnes so far this month, reflecting good demand for gold, Commerzbank said. Most gold ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares-