Silver

Melkior Resources Inc. announced assay results from six new holes from the 2011 diamond drill program on its 100% owned Carscallen gold project, located 5 kilometres west of the Timmins Gold Deposit and recent Thunder Creek gold discovery. All holes intersected multiple intervals of anomalous gold mineralization; the highlight was hole CAR-71-2011, which intersected one of the widest, high-grade gold intercepts to date from the property and returned 13.25 metres at 5.10 g/t gold from the Shenkman Zone at a vertical depth of 200 metres.

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.

Canada’s Bear Creek Mining Corp. threatened legal action Monday after the Peruvian government cancelled the company’s plans for a silver mine in the country’s southern highlands. The Vancouver-based company said it hoped a political solution could be found, but that it would "vigorously defend" its rights.

A merger between Quebec-based ECU Silver Mining and Golden Minerals of Chicago announced on Friday had investors scrambling for the exits on Monday with the two companies at one point trading down 3.9% and 7% respectively on a generally bad day for silver stocks. The combined company worth over $600m with extensive assets in South America will keep its headquarters in Golden, Colorado and the Golden Minerals name and will be headed by Golden CEO, Jeffrey Clevenger.

Viking Minerals commenced the review of pre-drilling and geological mapping of its South Dolly Varden gold / copper claims in Elko County, Nevada. This mapping is to facilitate a resolution of the zones of mineralization outlined by the surface geochem and rock samples and the 3,000 foot delineated coincident Induced Polarization (IP) anomaly with the intersection of the diamond drill core holes.

Bayfield Ventures announced a major gold and silver intercept on its 100% owned Burns Block property in the Rainy River District of north-western Ontario. The Burns Block is situated adjacent to the east and on strike to Rainy River Resources' multi-million ounce gold deposit.

Calibre Mining announced final assay results for the completed 9 hole, 2500 metre diamond drill program at its 100% owned Riscos de Oro gold-silver property in north east Nicaragua. The results are highlighted by hole RD11-016 that intersected 3.61g/t gold and 518.44g/t silver over 3.68 metres (14.41 g/t AuEq1,2) and hole RD11-017 that intersected 9.31 g/t gold and 336.06 g/t silver over 3.90 metres (16.31 g/t AuEq1,2). Read the full news release here. Photo is from Calibre Mining.

Money managers raised bullish bets in COMEX gold futures and options to the highest level since the week of April 24, as bullion climbed to within $20 of its record during the period, data from the Commodity Futures Trading Commission showed Friday. Speculators in silver futures and options also upped their net long positions in the week ended June 21, as safe-haven demand for precious metals grew in response to disappointing economic data from the United States and persistent concerns surrounding Europe's debt crisis, according to the latest report from the U.S. regulator.

High prices sway buyers towards goods otherwise they would not have widely considered, according to exhibitors at the June Hong Kong Jewellery & Gem Fair. Buyers opted for Very Good makes instead of Triple Excellent and parcels instead of Dossier i...