Gold gets comfortable above $2,000 oz and a top 10 copper mine faces supply disruptions
To end the week gold has spent much of the time trading above $2,000 a ounce, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable.
Kitco NEWS Roundtable · Michael McCrae
Audio is streamed directly from the publisher (cdn.simplecast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
To end the week gold has spent much of the time trading above $2,000 a ounce, noted mining audiences manager Michael McCrae.
On Friday McCrae recorded Kitco Roundtable.
After the good CPI numbers earlier this month that may allow the Fed to stop hiking, gold has found room to rise.
Notable economic number this week were the the S&P Global Flash U.S. manufacturing and services PMI.
Manufacturing contracted while services expanded. Bottomline is that the numbers put the U.S. economy at neutral.
Copper was up again this week, nearing the $3.80 lb point. Supply disruptions favored the metal, which segues to mining news.
In mining news, First Quantum is facing supply disruptions and a looming court decision.
Protestors in Panama are blocking supplies from reaching the mine. Without relief, the company warned that production could be halted.
The mine also faces legal challenges. It's recently signed mining contract it signed with the government is being challenged in the supreme court. A decision is expected in the coming days or weeks. A majority of lawyers surveyed by Reuters said
the Supreme Court is likely to rule against the company, citing a precedent.