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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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South Africa's 'silent revolution' as those with cash go solar

JOHANNESBURG, Aug 15 (Reuters) - Thanks to his rooftop solar panels, Pierre Moureau only notices the blackouts that regularly plunge South Africans into darkness when complaints pop up on his Johannesburg neighbourhood's WhatsApp group.

Wall St., Main St. look for gold prices to keep shining

(Kitco News) - Gold prices should maintain maintain their recent upward momentum as the COVID-19 pandemic keeps spreading and prompting worries about the economy, according to respondents in the weekly Kitco News gold survey.

TDS: COVID-19 fears interrupt but won't stop upward momentum in gold prices

(Kitco News) - Rising COVID-19 worries have interrupted, but not canceled, gold's break higher this week, said TD Securities.

Gabelli's Bryan; mining stocks lag gold based on history, leaving potential upside

(Kitco News) - Equities of gold-mining companies still appear undervalued based on a historical comparison of where they were trading relative to the price of gold during the last bull-market cycle, said Caesar Bryan, portfolio manager of the Gabelli Gold Fund (symbol GOLDX for AAA shares and GLDIX for institutional class of shares).

Bannockburn: gold prices 'finding support above the top of the old range'

(Kitco News) - Gold prices are holding above $1,750 an ounce, which was the top of its former trading range and is now acting as chart support, as markets collectively ponder whether the surge in COVID-19 cases in the U.S. and elsewhere will lead to more supportive measures by authorities to prop up the economy and markets, said Bannockburn Global Forex.

Commerzbank: stimulus efforts mean 'robust demand for gold as a safe haven'

(Kitco News) - Investors are likely to keep adding gold as a "store of value" as central banks remain accommodative and governments keep running up debt in their fiscal-stimulus efforts to prop up the economy and markets during the COVID-19 pandemic, Commerzbank said.

BMO trims full-year price PGM price forecasts, maintains gold, silver outlooks

(Kitco News) - BMO Capital Markets lowered its forecasts for average prices of platinum group metals during 2020, although the bank looks for a rebound from current prices into year-end.

Gold remains softer after May U.S. durable-goods orders rise 15.8%

(Kitco News) - Gold remained on the defensive after a Commerce Department report Thursday showed that U.S. durable-goods orders rose by 15.8% to $194.4 billion in May. Spot gold was last down $5 to $1,756.30 an ounce.

Commerzbank: Gold-price declines still used as 'buying opportunities'

(Kitco News) - Market participants appear to be using pullbacks in gold prices as "buying opportunities," said Commerzbank analyst Carsten Fritsch.

More gold-sector M&A expected; no-premium deals gain in popularity

(Kitco News) - Mergers are likely to continue in the gold-mining industry, although there is a trend toward no-premium acquisitions, fund managers and analysts said.