I was in receipt of the following erudite communication about Commercial gold short positions yesterday from a friend in Toronto..."Re: HOLY SHISA BATMAN: THE COMMERCIALS COVERED OVER 70 000 Gold Short Contracts!!!!!!!!!!!!!!!!!!!!!!!! - Can you say WOW!!!!!!!!!!"...and while I myself would perhaps have expressed this in a somewhat more restrained manner, the point is certainly worth taking, esp...Read More
By: David Chapman"If the market does not rally, as it should during bullish seasonal periods, it is a sign that other forces are stronger and that when the seasonal period ends those forces will really have their say." Edson Gould, stock market analyst, Findings & Forecasts, 1902-1987 "Early in March (1960), Dr. Arthur F. Burns called on me.... Burns' conclusion was that unless some decisive ac...Read More
The 2018 stock market crash is now a fait accompli, having taken a polar bear plunge that put ice in the veins of the Fed and electrified their collective spine with such a deep chill they ran like a fat walrus from the bear market to halt their long-nurtured plans of economic tightening. With that event fulfilled, I'm now predicting a 2019 recession as the major economic news for this year (...Read More
By: Ed SteerYESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMThe gold price didn't do much during the first two hours of trading once it began at 6:00 p.m. EDT on Thursday evening in New York. But then the price pressure began -- and that sell-off lasted until a few minutes after 12 o'clock noon in Shanghai on their Friday. Except for a rather violent down/up move at 8:30 a.m. in New York wh...Read More
By: Jp CortezSix Other States Now Weighing Their Own Bills to End Taxes on Gold & SilverBefore the ink could even dry on West Virginia Governor Jim Justice's signature on a repeal of sales taxation on gold, silver, platinum, and palladium bullion and coins, legislators in Wisconsin and Maine introduced similar measures in their own states.All told, 39 states have now reduced or eliminated sales...Read More
By: Richard (Rick) Mills, Ahead of the herd Mining is all around us, though invisible to urban dwellers, so it's easy to forget that we live in a world of finite resources. Unlike forestry or agriculture, whose crops are renewable, once ore comes out of the ground and is processed into metals, it's gone for good. Some industrial metals are recycled after mining, like copper, but this only exten...Read More
- Unwise Investment- Zombie Companies- Gummed-Up Economy- Uncreative Destruction- The Drive for Scale- Helicopter Governments- Cleveland, Chicago, Dallas, and SICRecession is coming. We can debate the timing, but the economy will turn decisively downward at some point. My own analysis, looking at the data available on April 4, says recession isn't likely this year but unfortunately looks very pr...Read More
By: Patrick J. BuchananIn the new Democratic Party, where women and people of color are to lead, and the white men are to stand back, the presidential field has begun to sort itself out somewhat problematically.According to a Real Clear Politics average of five polls between mid-March and April 1, four white men Joe Biden, Bernie Sanders, "Beto" O'Rourke and Pete Buttigieg have corralled 62...Read More
Here are five Fastmarkets MB stories you might have missed on Friday April 5 that are worth another look.Brazil's federal court in Bel?(C)m, in the northern state of Par??, has scheduled a second conciliatory hearing for Friday April 12 to discuss the production embargo of Norsk Hydro's Alunorte alumina refinery.Electricity cuts in Taiwan in May and June, along with ample offer...Read More
Gold futures ended Friday with a modest gain, but booked a weekly loss as investors mostly favored assets perceived as risky, like stocks, over safe plays. Gold for June delivery GCM9, +0.12% on Comex lost $1.30, or 0.1%, at $1,295.60 an ounce, after settling lower in the past two sessions. The metal booked a weekly slide of 0.2% based on the most active contract, according to FactSet data. Meanw...Read More
Let's forget about the coming global monetary reset for a second and consider the case for $60 being the new normal for an ounce of silver...Half Dollar interviewed by Matt from Silver Fortune on Silver FortunePaul "Half Dollar" Eberhart, writer and editor for Silver Doctors, joins me to discuss the metals markets, what the power shift East will look like, and why silver is critical to come out in...Read More
Following a mediation session led by representatives of Peru's national government, Indigenous leaders and executives from Minera Las Bambas, a subsidiary of China's MMG, reached an agreement that puts an end to a 2-month long conflict at Las Bambas copper mine.Both the miner and the community expressed their willingness to sit down and solve the conflict by revisiting the terms of a series of agr...Read More
Management at Chilean miner Antofagasta Plc. (LON: ANTO) was able to secure this week full funding for the expansion project of its flagship Los Pelambres copper mine.The operation, located about 200 kilometres north of Chile's capital Santiago is responsible for about half of the company's total copper output, which this year is expected to be somewhere between 750,000 and 790,000 tonnes of the r...Read More
RAPAPORT... The National Bank of Fujairah (NBF) has launched arepresentative office in Antwerp as it looks to expand its business lending toestablished diamond traders. The Dubai-based bank targets wholesalers with secure sourcesof income and solid product traceability, its CEO, Vince Cook, told RapaportNews last week. The new office will help it improve its market knowledgeand strengthen its...Read More
RAPAPORT... Richemont-owned IWC Schaffhausen has appointed Darin Rabbbrand president of North America. He will be responsible for growing the Swissluxury watch manufacturer's business in the region. "North America is a strategic market for IWC, and we havetremendous potential going forward," said IWC CEO Christoph Grainger-Herr."With his comprehensive professional experience and intimate knowledge...Read More
RAPAPORT... Alrosa has signed anagreement withAngola's state-run diamond-mining company to develop joint projects and shareinformation. Alrosa and Endiama have committed to work together onresearch and exploration projects in Angola. The Russia-based miner will alsoprovide training for Angolan specialists at its facilities. "For both Russia and Angola, the diamond industry is animportant part of...Read More
RAPAPORT... A 17.43-carat Kashmir sapphire previously owned by aEuropean noble family will go on sale at Bonhams later this month. The cushion-shaped, vivid-blue stone, which dates to thelate 19th or early 20th century, will lead the April 30sale in London, the first time it has appeared at auction. It is expected to fetch GBP 300,000 to GBP 400,000 ($391,080 to$521,440). "Sapphires hailing from...Read More
RAPAPORT... A storied diamond connected to the Oppenheimer family will be among the top lots at next month'sGeneva auction at Christie's, with a presale estimate of $2.5 million to $3.5million. The rectangular-cut, 25.27-carat, D-color Jonker V ring will go underthe hammer at the Magnificent Jewels sale on May 15, the auction house saidlast week. The stone was cut from a 726-carat rough Sout...Read More
Here are five Fastmarkets MB stories you might have missed on Friday April 5 that are worth another look.Brazil's federal court in Bel?(C)m, in the northern state of Par??, has scheduled a second conciliatory hearing for Friday April 12 to discuss the production embargo of Norsk Hydro's Alunorte alumina refinery.Electricity cuts in Taiwan in May and June, along with ample offer...Read More
Nicola Mining (TSXV: NIM) has finished a 39-hole reverse circulation drill program at its past-producing 101-sq.-km New Craigmont copper-magnetite project, testing waste material at the project's 3060-Portal.Highlights from the program include 0.91% copper and 6.44% iron, or 1.08% copper equivalent, over 4 metres from surface, and 0.28% copper and 7.1% iron, or 0.47% copper equivalent, over 8 metr...Read More