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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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Wall St pressured by Big Tech declines; PPI data offers relief

(Kitco News) -

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.