Kitco Newsn

(Kitco News) – It is a quiet day in the precious metals market, with prices drifting lower as two of the world’s largest trading hubs are closed for holidays.

(Kitco News) – Rising tensions between the U.S. and China are keeping gold up and stocks down as the U.S. heads into the long weekend.

(Kitco News) – ELY Gold Royalties (TSXV:ELY) announced yesterday it closed a previously announced brokered private of 21,562,500 units at a price of $0.80 per Unit for gross proceeds of C$17.25 million.

(Kitco News) – Nordgold said today that Q1 gold production increased by 4% YoY to 225.9 koz mainly driven by higher volumes of ore processed at Taborny, Gross and Suzdal mines, as well as higher recovery rates at Gross, Suzdal and Taparko.

(Kitco News) – Iron ore giant Fortescue Metals Group took its interest in Candente Copper (TSX:DNT) from 9.72% to 19.92% by subscribing to 27,500,000 shares for an amount of $1.375 million through a private placement.

(Kitco News) – Gold is the commodity to own as a hedge against the massive amounts of stimulus central banks and governments have flooded financial markets with, but silver is the metal to trade as it looks like momentum is returning.

(Kitco News) – Russian diamond giant, ALROSA, said today that it is cutting production to 28–31 million carats versus its initial guidance of around 34 million carats.

(Kitco News) – Wall Street and Main Street look for gold prices to rise next week, according to the weekly Kitco News gold survey.

(Kitco News) – A strike by unionized workers at Kinross Gold Corp.’s (TSX: K; NYSE: KGC) Tasiast mine has been suspended at the request of the government of Mauritania, the company announced Friday.

(Kitco News) – Golden Star Resources Ltd. (NYSE American: GSS; TSX: GSC; GSE: GSR) says there will be some impact on output at its Prestea mining operation in Ghana since around 60 workers are being quarantined after a second member tested positive for…