Headlines from June 4 – 8:
- SNL: Producers’ average AISC $833 per gold ounce in first quarter (Kitco)
Most gold-mining companies continued to reduce expenses in the first quarter, with the all-in sustaining cost per ounce for the top 17 publicly listed gold companies coming in at a weighted-average of $833 an ounce, according to a report from the mining consultancy SNL Metals & Mining.
- Gold ends solidly up at 3-week high on bullish outside markets (Kitco)
Gold ended the U.S. day session solidly higher and scored a three-week high Wednesday. The precious metals were boosted by bullish outside markets that saw higher crude oil prices and a lower U.S. dollar index. In fact, most of the raw commodity futures markets were in rally mode today, which added to the upside pressure on the metals. August Comex gold was last up $16.10 an ounce at $1,263.10. July Comex silver was last up $0.611 at $17.00 an ounce.
- International Precious Metals secures entire mint box of rare Gold American Eagle Coins (Market Watch)
International Precious Metals (IPM), a leading provider of rare certified coins and physical precious metals, announced today that they have secured an exclusive allocation of Edmund C. Moy Signature Label 2014 $25 American Gold Eagle coins. With a mintage of only 35,000 pieces, they’re one of the lowest minted Gold American Eagle coins ever produced and have replaced the 1996 $25 piece as the third rarest “Key Date” $25 Gold Eagle.
- Men charged in precious metals, rare diamonds fraud (Palm Beach Post)
Two Palm Beach County residents and a Massachusetts man are facing civil charges in an alleged $3.7 million precious metals and rare diamonds fraud, according to the U.S. Commodity Futures Trading Commission. The charges include fraud, engaging in illegal, off-exchange transactions in precious metals, and acting as futures commission merchants without registering with the CFTC as required.