Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More

The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More

RAPAPORT... A much-anticipated cryptocurrency sale at Sotheby's Hong Kong fell short of expectations, as only one of the eight pieces up for auction found a buyer, the company told Rapaport News Thursday.On offer was a Harry Winston necklace containing a total of 177.51 carats of diamonds, including nine graduated pear-shaped, D-color, internally flawless stones. The jewel was intended to be the h...Read More

Base metal prices on the London Metal Exchange were down across the board at the 5pm close of trading on Thursday October 21, with market participants beginning to sell off material following the recent price rally.The three-month aluminium price fell by 5.2% to $2,910 per tonne on Thursday, down from $3,069.50 per tonne at Wednesday's 5pm close after trading in large volumes and more than 34,180...Read More

RAPAPORT... E-commerce spending in the US is set to break all previous records for the holidays, topping $200 billion for the first time, according to the Adobe Digital Economy Index.Sales will rise 10% year on year to $207 billion over the November-to-December period, Adobe predicted in its annual holiday shopping forecast Wednesday. However, the major shopping days are losing prominence in...Read More

A top European pension fund has sold its interest in Swiss commodity trader and miner Glencore, citing sustainability risks, including cobalt production in Africa. A major global pension fund, ABP announced that it has sold its shares in mining/trading firm Glencore on Friday October 15.   "ABP has sold its interest in Glencore. The mining company faces...Read More

3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesThe 18th annual Resources Rising Stars investment conference was held behind barrica...Read More

RAPAPORT... De Beers' full-year production will be at the lower end of its previous guidance because of "continuing operational challenges," parent company Anglo American said Thursday.The miner now expects to recover around 32 million carats of rough diamonds for 2021, tightening the plan from an earlier range of 32 million to 33 million carats. The new outlook is "subject to the extent of a...Read More

(IDEX Online) - Tiffany & Co's new brand ambassadors, Beyonce and Jay-Z star in ad campaign for the jeweler, inspired by the classic 1961 movie Breakfast at Tiffany's.Date Night shows Beyonce, 40, and Jay-Z , 51, snuggling up as they're driven through New York city in the back of a Rolls-Royce, stopping for pizza and champagne.The two-minute playfully romantic video, partly shot...Read More

(IDEX Online) - India' gross import of rough diamonds leapt to $9bn from April to September as it bounced back from Covid.That's a rise of 255 per cent on $2.6bn for the same period during Covid-hit 2020, according to GJEPC (Gems and Jewellery Export Promotion Council). Exports of gems and jewelry increased to $19.3 bn, compared to $8.7bn.Colin Shah, chairman of GJEPC, said, "The sector...Read More

RAPAPORT... Prices of rough and polished diamonds will continue to rise amid a prolonged shortage in supply and strong jewelry demand, Alrosa said.Miners reduced rough-diamond production by 20% in 2020, leading to inventory depletion, the Russian company explained Tuesday in its annual report on the diamond investment market. Additionally, Covid-19 regulations forced lockdowns at some deposit...Read More

(IDEX Online) - Angelina Jolie wore a 14-carat gold chin cuff to a movie premiere, sparking a social media frenzy.The Hollywood A-lister left onlookers bemused with the $50 piece that loops over the lower lip and fits snugly under the chin. The online community didn't pull its punches.  One said: "They must have bets with each other who can start the most ridiculous fads."Another po...Read More

RAPAPORT... Christie's will offer a 74-carat diamond necklace that could fetch up to $7 million at its upcoming Hong Kong auction.The piece contains a 73.68-carat, F-color, internally flawless center stone, called the Snowdrop Diamond, and 78 additional diamonds weighing a total of 130.92 carats. It will headline the auction house's November 28 Magnificent Jewels sale, together with a heart-shaped...Read More

Negotiations for a new collective labor agreement (CLA) at the Cerro Verde copper mine in Peru are ongoing, with around 65% of hourly workers having signed new contracts as of the end of September, according to US copper producer Freeport-McMoRan.The company, which owns a 53.56% stake in Cerro Verde, said the CLA expired on August 31 and that ongoing talks may result in additional charges to the m...Read More

Domestic alumina prices in China continued to climb in the week to Thursday October 21, with new transactions being made on an as-needed basis, Fastmarkets has heard.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-649) per tonne on Thursday, up by 100-150 yuan per tonne from 3,800-4,000 yuan last week.Alumina prices have now reached a 13...Read More

Freeport-McMoRan retained its forecast for 2021 copper sales at around 3.85 billion lbs, or 1.75 million tonnes, and third-quarter sales were higher year on year due to the ramp up of underground mining and the timing of shipments at its Indonesian operations.Third-quarter copper sales were 1.033 billion lbs, or 468,560 tonnes, more or less unchanged from the prior quarter but up from 848 million...Read More

3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesJust over a year ago in September 2020, Maroš Šef??ovi??, vice-preside...Read More

Freeport-McMoRan's Indonesian unit plans to start long-term mine development activities at its Kucing Liar deposit, the company said.PT-Freeport Indonesia (PT-FI), in which Freeport holds a 48.76% stake and manages its mining operations, will develop the project over the next 10 years, the US copper producer said.At full operating rates, annual production from Kucing Liar is expected to exceed 500...Read More

3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesCorani mayor Edmundo Cáceres Guerra led a delegation of local leaders express...Read More

Freeport-McMoRan's new Indonesian copper smelter will not be subject to export duties, the US copper producer said.The new greenfield smelter, currently delayed by Covid-19, is to be located in Gresik, Indonesia, and will have the capacity to process around 1.7 million tonnes of copper concentrate per year.The same applies to the company's precious metals refinery (PMR), which will process gold an...Read More

Domestic hot-rolled coil prices across Europe edged down on Thursday October 21 on reduced end-user demand, and trading activity remained limited, sources told Fastmarkets. The ongoing global shortage of semiconductors has caused automakers in Europe to reduce output and, consequently, to cut flat-steel purchases, market sources said.Moreover, market participants have suggested that some major aut...Read More

BMW Group is to source steel from Sweden's H2 Green Steel for its European plants from 2025, the German car manufacturer said this week.Announcing the move on Wednesday October 20, BMW said that the company was "systematically pursuing [a] goal of significantly reducing CO2 emissions at their source in the supply chain."BMW said that, from 2025, it will source steel produced with up to 95% fewer C...Read More