Kitco NEWS Roundtable podcast

Gold, silver and copper all make big moves, and riots in New Caledonia give nickel a boost

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Just ahead of the weekend, silver prices have broken above $30 an ounce, hitting an 11 year high, and the metal  is up nearly $10 for the year, noted mining audiences manager Michael McCrae. 

On Saturday McCrae recorded Kitco Roundtable sponsored by Snowline Gold.  

Silver miners have broken higher. This month First Majestic is up 16%, Hecla Mining gained 14% and Endeavour Silver jumped 46%. 

Soaring silver prices have pushed the gold-silver ratio below 80 points, and it has been trading at its lowest level since August. The low ratio gives hope that the metal could keep rising. 

Mass protests erupted in New Caledonia regarding voting rules for an upcoming independence referendum. 

French troops have been deployed and a state of emergency has been imposed. 

New Caledonia has about 10% of the world's nickel reserves, and is ranked the fourth largest producer. 

Nickel jumped about 5% this month to about 21,000 a ton. 

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