Gold futures trading on the Comex division of the New York Mercantile Exchange experienced an after-hours selloff on Friday with prices tumbling $20 in a flurry of end-of week liquidation.
After listening to customer demands for reliability and even greater production in ultra-large hydraulic excavators than before, Hitachi brings its new EX5600-6 to market. Available in either an excavator or backhoe configuration, the EX5600-6 has numerous improvements without losing the proven features Hitachi machines are known for.
The Vancouver company earned a profit of $26.4 million on $133.5 million in revenues for the year, up 145%, after drilling an astonishing 585,900 meters for minerals and a further 444,400 meters for energy last year.
June gold contracts ended the holiday shortened week at $1,632 an ounce, but the end of Indian strike and disappointing news out on Friday – a day the markets were closed and could not react – about job growth in the US should provide stimulus for renewed interest in the yellow metal.
Molycorp’s mould-breaking deal with Neo Material Technologies has sent its shares rocketing and the counter is now up 38% so far this year, but some analysts say it's still a cheap buy for any potential acquirer.
Reality show producers, who have made shows about ice road trucking and underground coal mining in Virginia and underwater gold miners that work the waters off Nome, Alaska are now turning their attention to one of mining’s last frontiers.
"We store significant amounts of commodities, for instance silver, on behalf of customers. We operate vaults in New York City, in Singapore and in London. Often when customers have that metal stored in our facilities they hedge it on a forward basis through JPMorgan, which in turn hedges in the commodities market," said Blythe Masters.
Despite gold's price slump, strong copper and iron ore prices lifted MINING.COM's ranking of the world's 50 most valuable miners to a new record high of $1.35 trillion.
