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

(IDEX Online) - A 26.80-carat sapphire brooch and matching earrings that were smuggled out of Russia during the 1917 revolution are to be sold at Sotheby's Geneva.The gems (pictured) belonged to Grand Duchess Maria Pavlovna, of the Russian royal family, and were part of a large collection spirited away by a British diplomat.Bertie Stopford disguised himself as a workman and made his way to Lo...Read More

(IDEX Online) - Alrosa says it will hold more frequent sales of polished diamonds after its latest auction raised almost $13m.The Russian miner sold 98 per cent of the gems offered, weighing over 1,400 carats, during September and October.The auction featured 49 exceptional polished diamonds weighing up to 28 carats, said Alrosa, as well as 284 diamonds weighing up to 17 carats - colorless, fancy...Read More

Hot-rolled coil prices in Europe were stable to slightly higher on Thursday November 4 despite muted buying, while market sentiment remained optimistic, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,022.50 ($1,184.83) per tonne on November 4, up by ?,?8.21 per tonne from ?,?1,014.29 per tonne on November 3.The index was...Read More

Elysis, a joint-venture project between Alcoa and Rio Tinto to eliminate the emission of greenhouse gases from the industrial aluminium smelting process, has moved to the next stage of production, the companies jointly announced on Thursday November 4.Elysis is led by Alcoa and Rio Tinto, with additional investment from the governments of Canada and Quebec.It is working to commercialize a new tech...Read More

A summary of Toronto, Canada-based Noranda Income Fund's production and financial report for the third quarter 2021.In brief: Earnings before income taxes totaled $5.9 million, compared to a loss of $4.1 million in third quarter of 2020. Adjusted earnings before interest, taxes, depreciated and amortization was $5.7 million, compared to $14.3 million in the same quarter last year. Revenue was $204...Read More

Backwardations in the forward curves of most metals on the London Metal Exchange have constrained warrant trading for the past few weeks.Copper warrants, for example, have been "impossible" to trade since steep backwardations emerged in copper's forward curve in mid-October, traders widely agreed.Its cash/three-month spread was recently at a $190 per tonne backwardation on Thursday November 4, hav...Read More

Base metals prices on the LME and SHFE were mixed early on Thursday November 4, but neither the metals nor the broader markets have been rattled by the US Federal Reserve's announcement that it is to start tapering its monthly bond buying programme.* The United States Federal Reserve to trim bond buying by $15 billion a month - it had been buying $120 billion a month* A pick-up in Covid-19 cases i...Read More

Sentiment was buoyed among most market participants at the annual Nickel & Cobalt conference held by Chinese information provider Antaike on November 1-3 in Ningbo, China, but the strong resurgence of lithium iron phosphate (LFP) batteries has created uncertainty about consumption of the two metals.Fastmarkets summarizes below four key takeaways from the sidelines of the conference.LFP outperforms...Read More

The company said the expansion was expected to reach its original budgeted spend of US$5.3 billion this month.In December, Rio announced an updated budget of $6.75 billion, but Turquoise Hill has since warned that up to a further $1 billion could be added to that.BMO Capital Markets is forecasting a total cost of $7.2 billion.The board of Oyu Tolgoi LLC, which also includes representatives from 34...Read More

Mexican steel producer Deacero has opened an office in Washington to be closer to trade decisions affecting its business. It is a first for a Mexican company, according to a Thursday November 4 statement."This is where decisions are made that affect our company, its workers, and its customers - not only in the US, but also in Mexico, and in other international markets where we do...Read More

But to the disappointment of the market, the lithium black box has remained just that, making it near impossible for IGO shares to be priced with precision.Read More

Hot-rolled coil prices in the United States rose again on Thursday November 4 after consecutive declines, though most sources expect them to taper off again in coming weeks.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.33 per hundredweight ($1,886.60 per ton), up by 1.07% from $93.33 per cwt on Wednesday and down by...Read More

A summary of operational results for Ukrainian steelmaker Metinvest for the third quarter of 2021.In brief The group's output of coke totaled 1.09 million tonnes, down by 9% quarter on quarter due to a decrease in the number of coke ovens in use at Ukraine's Avdiivka Coke and a shortage of raw materials. Merchant slab production increased by 15% quarter on quarter...Read More

TSX, NYSE and LSE-listed Taseko, which operates the Gibraltar mine in British Columbia, reported revenues of C$135.6 million, an increase of 54% yoy. Adjusted net income was C$27.0 million, compared to a loss of C$5.8 million in Q3 2020.Taseko benefited from the recent run up in copper prices. "Copper prices in the third quarter averaged US$4.25 per pound and are currently around US$4.30 per pound...Read More

The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but the impact is likely to be limited, sources told Fastmarkets.On October 30, the US and the EU agreed to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas.The decision i...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Equity index futures were quiet prior to release of the U.S. September Trade Deficit Report at 8:30 AM EDT. Consensus is a deficit of $74.1 billion versus a deficit of $73.3 billion in August.The Canadian Dollar was quiet at U.S. 80.51 cents prior to release of Canada's September Merchand...Read More

The steel rebar and billet market in Egypt was slow during the week ending Thursday November 4, although some market participants expected rebar prices to increase because of increasing natural gas costs, sources told Fastmarkets.Local rebar producers increased their prices E ?15,000 ($952) per tonne ex-works including 14% VAT on October 20.However, the natural gas price increased to $5....Read More

Turkish billet prices feel in the week ended November 4 in line with lower imported scrap costs and poor demand, market participants told Fastmarkets.Suppliers in the Commonwealth of Independent States (CIS) have lowered their offers to $700-705 per tonne cfr, compared with $725-730 per tonne last week.However, the buyers bid only $660-670 per tonne for CIS-origin billet. A steel mill in the Isken...Read More

Here at The Daily Reckoning, we are under bonds...We are under bonds - that is - to deliver you "the story that's not being told."That is, we are under bonds to bring you the story untold in the mainstream media.The untold story is often the untapped gold mine. And we would have our readers discover gold.Have we unearthed the untold story? Have we handed you directions to a gold mine?We have alert...Read More

Yesterday we alerted you to the marching prospect of a "hidden" global tax, presently gaining pace.It has you centered within its crosshaired sights.Here is natural resources wizard Marin Katusa, in necessary review:There's a new hidden tax that will underpin the global economy just like the internet underpins every single tech company and piece of software today.This is not a hypothetical tax or...Read More