All major metals are looking positive heading into the EU open
(Kitco News) - Gold (0.47%) and silver (0.49%) have pushed higher during the Asian session and look positive heading into the European open. The move is still nothing in comparison to the move lower seen on Monday and Tuesday but there is some support around at the moment for the two precious metals. Risk sentiment was mixed overnight as Japan's Nikkei 225 closed 0.91% higher but the ASX closed 0.71% in the red. The Shanghai Composite was also bullish closing 0.22% in the black.
PWC's forecasts only a moderate setback for mining from the COVID-19 pandemic
(Kitco News) - Global audit company Price Waterhouse Copper (PWC) believe the mining industry has weathered the storm of the coronavirus pandemic well and suggest that the industry will only feel a moderate impact. The PWC forecast for 2020 suggests the Top 40 miners will take a modest hit to EBITDA of approximately 6%, this is much better than many other industries.
Rio Tinto, BHP award $60m worth of contracts to Monadelphous
(Kitco News) - Monadelphous (MDN:ASX) shares jumped as the company won $60 million worth of construction and maintenance contracts with Rio Tinto and BHP across their Australian iron ore, bauxite and nickel projects.
Bezant Resources confirms copper find
(Kitco News) - Bezant Resources PLC (BZT:LSE) has confirmed copper mineralisation in the first two holes of its drill programme in Namibia at the Hope copper-gold Project.
Bushveld Minerals shares fall despite positive update
(Kitco News) - Bushveld Minerals (BMN:LSE) share price has fallen over 3% in EU trade despite providing a positive update this morning.
Gold stil hangs below an important level heading into the EU open
(Kitco News) - Gold broke the consolidation low of $1848.84 per ounce to the downside during yesterdays session. Today that bearishness continued as the yellow metal heading into the EU session trading 0.37% lower. Silver is also looking weak and the precious metal has moved 0.63% in the red dipping below $23.50 per ounce.
Ariana Resources post increased revenue from Kiziltepe Mine
(Kitco News) - Ariana Resources have provided an update on the Kiziltepe Mine Project in Turkey. The mine produced a gross quarterly revenue figure of US$11.4 million (vs US$9.901 million last quarter) at an average realised gold price of US$1, 915 per ounce
Manufacturing data picks up in the Eurozone
(Kitco News) - During the EU session there has been manufacturing PMI data from the major nations in the continent. The most important is probably Germany as they are a strong industrial powerhouse in the Eurozone.
Gold and silver head higher into the European open
(Kitco News) - Spot gold (0.26%) and silver (0.53%) start the week on the front foot. During the Asian session, sentiment has been pretty positive. Japan is off for Workers day but the ASX is trading 0.34% higher and the Shanghai Composite is also performing well rising over 1%.
Silver Technical Analysis before the US open
(Kitco News) - Silver has been pushing higher in the EU session leading into the US open but there are some key resistance zones to be aware of.
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