US manufacturing data sends gold price higher

After 50 years of conflict, the Colombian government and the Revolutionary Armed Forces (FARC) have signed a ceasefire agreement.

I want to focus on the composition of China’s foreign reserves, explain why the liquid portion of the reserves may be much smaller than widely believed, and how that situation is bearish for RMB and bullish for gold.

Silver prices rose Monday as much as 6.9% to an intraday peak of $21.132 an ounce, its highest value since July 2014.

So much for the run on cheap gold mines. Producers who were forced by slumping prices to unload assets last year are regaining leverage.

Chile’s Escondida produced 265,597 tonnes in the period, or 23% less than the 347.125 tonnes it generated in Q1 2015.

Decision follows a company review of the asset that was triggered by the Bouganville government’s pressure to restart mining at Panguna or give it up.

Brexit is a sideshow to the world economy, and gold remains an important asset in any portfolio, says Marc Faber, editor of the Gloom, Doom and Boom Report.

With the sale, Newmont is offloading its Batu Hijau mine, Indonesia’s the second-biggest copper and gold operation.

CHART: $18 billion year to date rise in assets under management highest since physically-backed fund's inception in 2004.