Gold Silver Reports — Copper on MCX settled up 1.19% at 334.5 amid optimism that demand is improving in China, the world’s biggest user.
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Silver Near Term Target $20/oz
Gold Silver Reports — Silver is now up 25% year to date, versus gold at 18%. Think the momentum could carry silver as high as $20/oz in the near term.
Silver Rocket Bull Market as Prices 10-Month High
Gold Silver Reports — Silver is poised to enter a bull market after prices jumped to a 10-month high and as investors pile into precious metals, with top forecasters’ staying positive on gold.
China Starts Gold Fixing Bid
Gold Silver Reports — China, the world’s biggest producer and consumer of gold, started a daily price fixing on Tuesday in an attempt to establish a regional benchmark and bolster its influence in the global market.
Sibanye Biggest Gold Miner Says Laws Not Acceptable
Gold Silver Reports — Sibanye Gold Ltd., the biggest producer of the metal from South African mines, criticized the country’s planned Mining Charter, saying some aspects of the legislation are “not acceptable” in their current form.
The government published draft proposals on Friday stating that mines must be at least 26 percent-owned by black investors, even if those stakes are subsequently sold. Mining executives including Sibanye Chief Executive Officer Neal Froneman have argued this will lead to existing investors’ stakes being continually diluted.
Sibanye Appointed Heads for Gold, Platinum and Coal
Gold Silver Reports — Sibanye Gold Ltd. appointed heads for its platinum, gold and coal businesses as the South African company restructures after expanding into these commodities through acquisitions.
Wayne Robinson has been named chief executive officer of the gold and uranium unit, while Jean Nel was appointed CEO of platinum, Sibanye said in a statement Monday.
Bullion may surge to $1350 an ounce by the year-end
Gold Silver Reports — Gold, one of this year’s best performing assets, has room to extend its advance, according to top-ranked forecasters, even as the rebound shows signs of losing steam.