Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Canadian silver miner First Majestic Silver (NYSE:AG) (TSX:FR) said total production in the third quarter of 2017 from its six operating silver mines reached 4 million equivalent ounces of silver.
Total production consisted of 2.4 million ounces of silver, 15,414 ounces of gold, 5.2 million pounds of lead and 0.9 million pounds of zinc, the Mexico-focused miner said.
From the Press Release:
“Consolidated production in the third quarter returned to higher levels compared to the prior quarter,” said Keith Neumeyer, President & CEO. “At La Encantada, improvements in throughput and silver grades allowed for a 62% increase in silver production. At Santa Elena and San Martin, total production at each operation beat guidance due to continued strong grades and higher recoveries. At La Parrilla, oxide production improved due to higher grade ore being sourced from the San Marcos mine. Lastly, as a safety precaution following two major earthquakes that struck near the La Guitarra mine in September, we temporarily suspended production for a total of eight days to allow for a full inspection of the operation. The inspection revealed no significant risks or damages allowing for the restart of production.”
