Centerra Gold Under Fire as Prices Fall; But Indian Silver Jumps 5%

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Things aren’t looking so hot on Kyrgyzstan’s mining landscape.

Or, should we say, things are actually at their boiling point?

Via Reuters: “Centerra Gold said on Saturday it had sent fuel to its flagship Kumtor mine in Kyrgyzstan, hoping to restore output cut by protests and power outages as local villagers demand the venture be nationalised.”

“Toronto-listed Centerra’s shares fell 15 percent to C$3.52 on Friday after the miner said it would not be possible to determine the extent of the impact on its production and results until grid power was restored at the mine.”

Current Gold and Precious Metals Prices:

today's metal prices - MetalMiner IndXOn Friday, May 31, the day’s biggest mover was Indian silver, which saw a 5.0 percent increase. The price of US silver declined 2.2 percent. The price of Chinese silver finished the market day up 1.0 percent per kilogram. The price of Japanese silver dropped by 0.5 percent after holding steady.

US gold bullion closed 1.8 percent lower. Indian gold bullion finished the day up 1.3 percent. The price of Chinese gold bullion increased 1.1 percent. Japanese gold bullion saw its price rise 0.9 percent.

Weakening prices followed two days of improvement as the price of US platinum bar dropped 2.0 percent. After a 1.3 percent increase, Chinese platinum bar finished the day higher. Japanese platinum bar prices inched up 0.9 percent.

The price of US palladium bar, following a couple days of improvement, fell by 0.9 percent. Chinese palladium bar gained 0.6 percent. Japanese palladium bar held its value last Friday.

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