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GOLD (MSM)

Panama's top court approves two new probes against ex-president Martinelli

[Reuters] – Panama’s Supreme Court on Wednesday approved two new investigations against ex-president Ricardo Martinelli, adding to a growing list of corruption probes targeting the former president. In one of the new cases, Panama’s stock market regulator asked for an investigation into whether Martinelli, through the brokerage firm Financial Pacific, was insider trading on shares of Canadian miner Petaquilla. The other investigation is related to an existing case, alleging that

Newmont's Indonesian copper export permit will not be renewed – govt officials

[Reuters] – Newmont Mining Corp’s Indonesian copper export permit, which expired on Tuesday, will not be renewed as the U.S. miner has failed to meet government stipulations for developing a domestic smelter, government officials said. Newmont, Indonesia’s second-largest copper miner, has to renew the permit every six months following an agreement with the government a year ago to develop local mineral processing facilities. “Newmont proposed an export permit extension and

SILVER (MSM)

Friday, May 1: Today in Gold and Silver

NEW YORK (TheStreet) — The gold price did nothing in Far East trading—and once the dollar index began to head south with a vengeance, it was obvious that JPMorgan et al were there to prevent the price from breaking out to the upside.  It managed to rally above unchanged going into the jobless claims number at 8:30 a.m. EDT, but the HFT boyz and their algorithms were there with their

Thursday, April 30: Today in Gold and Silver

NEW YORK (TheStreet) — The gold price had a negative bias all through Far East trading on their Wednesday—and that lasted until at, or just after, the London a.m. gold fix.  From there it began to rally a little, but every tiny breakout was hammered flat immediately—and it basically traded flat once COMEX trading began.  Then, starting a few minutes before the FOMC ‘news’, some thoughtful soul hit the gold

Wednesday, April 29: Today in Gold and Silver

NEW YORK (TheStreet) — After selling down a few bucks in Far East trading early on Tuesday morning, the gold price traded flat until it began to develop a positive bias shortly after 9 a.m. in London.  Then the price popped seven bucks or so at the p.m. gold fix—and then inched higher from there, with the high tick coming minutes before 2 p.m. in electronic trading in New York. 

Tuesday, April 28: Today in Gold and Silver

NEW YORK (TheStreet) — The gold price didn’t do much of anything in Far East trading—and was back to Friday’s close in New York by the London open on Monday morning.  It popped for a couple of bucks at that point before trading virtually rule flat into the noon London silver fix.  Then it rose another couple of bucks before inching higher into the London p.m. gold fix.  The price

ENERGY (MSM)

French renewables power grid pilot shows limits of batteries in Europe

By Geert De Clercq NICE, France (Reuters) – A major pilot project by Europe’s largest power network operator to integrate power from rooftop solar panels into the grid has shown that battery storage of renewable energy is not yet economically viable in Europe. The conclusion is a sobering one for proponents of sun and wind energy because as more of it comes on tap, better storage will be needed to

Solar-Powered Plane Completes the Most Arduous Leg of Its Journey Around the World

The one-seater plane is covered with 17,000 solar cells. During the day, the panels store solar energy to stored lithium polymer batteries that keep the plane’s motor running after the sun sets. The plane reaches a maximum speed of 100 miles per hour, which is why it took Borschberg five days to travel from Japan to Hawaii instead of the 10 hours it would take on 560mph fuel-powered plane.

U.N. offers help on simmering Guyana-Venezuela territorial dispute

By Neil Marks Bridgetown, BARBADOS (Reuters) – U.N. Secretary-General Ban Ki-moon on Friday offered help to resolve a long-running border spat between Venezuela and its South American neighbor Guyana that heated up after oil was found in the disputed area in May. Exxon Mobil Corp said it discovered oil off Guyana’s coast, spurring complaints from Caracas that Guyana is unfairly exploiting a disputed territory that must be negotiated through a

India's $100 billion solar push draws foreign firms as locals take backseat

By Tommy Wilkes and Aman Shah NEW DELHI/MUMBAI (Reuters) – India’s $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector. The money pouring into India’s solar industry is likely to be soaked up by foreign-organized projects such as one run by China’s Trina Solar – not

Germany to shut down coal-fired plants, extend power grid: sources

The German government decided on Thursday to order the shutdown of several coal-fired plants in order to reach its ambitious climate goals by 2020, government sources told Reuters. Chancellor Angela Merkel and the leaders of her two junior coalition parties also settled a dispute over high-voltage power lines which are planned to carry green energy from the breezy north to the industrial south, the sources said. Energy minister Sigmar Gabriel

Hydroelectric dams spell disaster for birds, tortoises: study

Hydroelectric dams may cause 70 percent of wildlife in the nearby area to go extinct, according to a study Wednesday that raises new concern about what is often touted as a green energy source. The study in the journal PLOS ONE focused on how animals in the tropical rainforest were coping as a result of the Balbina Dam in the central Amazon, in Brazil. “We predicted an overall local extinction

Discovery brightens solar's future, energy costs to be cut

The solar panel design will make it cheaper to produce hydrogen, but a simple version won’t be available for average citizens for at least 10 years, scientists said. Splitting water molecules to create hydrogen allows the sun’s energy to be more easily stored to generate electricity or power clean cars. The discovery has major implications for climate change, as improved solar energy would reduce fossil fuel dependence.