RBC hikes silver price forecasts
Mining News Pro - The mining and materials equity team at RBC Capital Markets has raised its silver price forecasts by 16% in 2020, 17% in 2021 and 14% in 2022.
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Gold Fields taps RBC for potential sale of stake in Chilean gold project
Mining News Pro - South African miner Gold Fields is said to have hired investment bank RBC Capital Markets to explore the sale of a 30% stake in its Salares Norte gold project, in Chile’s northern Atacama region.
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South Africa: Coal Shipments from RBCT Up 20% M-o-M in Sep`18
Mining News Pro - According to the vessel line-up data compiled by CoalMint research, coal shipments from RBCT (Richards Bay Coal Terminal) have increased 20% on the month to 6.53 MnT in Sep`18 against 5.43 MnT in Aug`18.
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RBC`s Gero: Comex Gold Gets Short-Covering Bounce
Mining News Pro - George Gero, managing director with RBC Wealth Management, is describing the bounce in gold prices so far Tuesday as short covering. This is when traders with short, or bearish, positions buy to offset them. The covering came about after the short side of the market became “crowded” during a recent price pullback, Gero says. “All this means too many bears in the woods, and [a] dollar pullback quickly brings some short covering,” he adds. As of 9:18 a.m. EDT, Comex December gold was $3.10 higher to $1,220.70 an ounce, while the September dollar index was down 0.307 point to 94.88. Gero cautions, however, that short-covering rallies tend to not last long, as is the case with event-driven rallies and sell-offs. “Steady up moves with open interest up is a better signal for traders,” he adds.
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