Goldcorp Expects Rise In Production; Indian Silver Down After Climb

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Goldcorp is gaining confidence. The company “said late on Wednesday that its annual gold production could rise up to 18 percent even as it expects to rein in costs over the next two years,” report Reuters.

“Goldcorp, one of the world’s biggest gold miners, said it expects to produce between 3.0 and 3.15 million ounces of gold in 2014, an increase of 13 to 18 percent.”

“The company said it expects annual capital expenditures of between $2.3 billion and $2.5 billion, of which about 60 percent is allocated to projects and 40 percent to operations.”

“The company also said it produced 767,700 ounces in the fourth quarter, resulting in 2013 gold production of 2.67 million ounces, an increase of 11 percent over the year-earlier period.”

In metal price news for precious metals…

The price of Indian silver fell 4.2 percent on Wednesday, January 8, making it the day’s biggest mover. Chinese silver closed 2.3 percent lower. Following a couple days of improvement, the price of US silver weakened by 1.6 percent. The price of Japanese silver declined 0.1 percent, after two days of improvement.

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The price of Indian gold bullion closed. Following a couple days of improvement, the metal’s price weakened by 1.5 percent. After improving for two days, the price of Chinese gold bullion declined 1.4 percent. US gold bullion fell 0.5 percent yesterday. Japanese gold bullion prices inched up 0.4 percent.

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Japanese platinum bar finished the day up 1.0 percent. Chinese platinum bar finished the day down 0.3 percent. After a couple of days of improving prices, the price of US platinum bar held steady .

Japanese palladium bar rose 3.1 percent. US palladium bar saw its price rise 0.4 percent Chinese palladium bar saw little change in its price yesterday.