The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
Gold is posting its 6th consecutive daily gain, the longest winning run since December as it broadens strength against bond yields and stock indices. Metals' ascending momentum is partly helped by USD weakness and indices' accelerating sell-off, leaving precious metals as the sole survivors at a time when the 4 leading crypto currencies are down between 70% and 85% year-to-date and oil is...Read More
Not so long ago the fabulous FAANGs could do no wrong. From July through October, the share prices of FacebookFB, +0.67% AmazonAMZN, -1.11% AppleAAPL, -4.78% NetflixNFLX, -1.34% and Google parent AlphabetGOOG, +0.56%GOOGL, +0.29% were hitting record after record, and the only thing investors disagreed about was how much further they could go. But over the last few weeks, these stocks have been d...Read More
Africa-focused Perseus Mining (ASX,TSX:PRU) said Tuesday that drill results from the Esuajah Gap deposit at its Edikan gold mine in Ghana show the asset contains "significant" mineralized granite bodes well for a productive life extension.While Edikan currently has only six years of resources left, the company believes the mine life could be extended by tapping into the Esuajah Gap discovery.Based...Read More
Powell is apparently between a rock and a hard place. Inflation surged, while the global economy slowed down. What will he do? And how will gold react? Inflation Jumps in October The consumer price index climbed 0.3 percent last month, after rising 0.1 percent in September, according to the U.S. Bureau of Labor Statistics. It was the biggest rise since January, and it was mainly caused by a...Read More
RAPAPORT... Gemfields has sold a 5,655-carat emerald to Indian gemstonespecialist Dia-Color for an undisclosed amount, the miner said Tuesday. Gemfields extracted the Inkalamu, or Lion Emerald, at itsKagem mine in Zambia last month. It was one of 26 lots it offered at its auction inSingapore last week, which fetched a combined $28.4 million from the sale of 420,000carats of rough Kagem emeral...Read More
Great Bear Resources (TSXV: GBR) announced that it completed a series of payments aimed at gaining 100% royalty-free interest in its flagship Dixie gold project.The 9,140-hectare project is located in the Red Lake district in western Ontario, a place that has produced over 30 million ounces of gold. Goldcorp's Red Lake Gold Mine is located in the area.In a media statement, Great Bear explained tha...Read More
RAPAPORT... Shipments of Swiss watches bounced back in October after adrop the previous month, benefiting from stronger exports of high-end timepieces. Total exports rose 7% year on year to CHF 1.99 billion ($2billion) for the month, the Federation of the Swiss Watch Industry reportedTuesday. Orders for watches priced above CHF 3,000 ($3,024) climbed 12% byvalue, while exports of those worth...Read More
RAPAPORT... Hong Kong-based Tse Sui Luen (TSL) raised concerns about theimpact of the US-China tariff war on its business, even after sales improved inthe second fiscal half. "The recent outbreak and escalation of [a] trade disputebetween China and the US has cast some doubts on the economic outlook for boththe global and local economies going forward," the company said Tuesday. "Oneconsequen...Read More
RAPAPORT... A fancy-vivid-blue diamond with an estimate of $20 millionto $30 million will head up Sotheby's Magnificent Jewels auction in NewYork next month. The pear-shaped, 10.62-carat, VVS1-clarity stone from aprivate European collection will go under the hammer at the December 4 sale,Sotheby's said Monday. Other notable pieces include a Harry Winston diamond ringwith a cushion-cut center...Read More
Yellowknife, NT - Diavik Diamond Mine has been awarded the Northwest Territories Mining and Exploration (MAX) Special Achievement Award for the design, construction and operations of its dikes and its contribution as a joint venture partner to the Tibbitt to Contwoyto Winter Ice Road.The NWT MAX awards are a partnership between the NWT & Nunavut Chamber of Mines and the GNWT's Department of Indust...Read More
RAPAPORT... De Beers recorded its lowest-value sales cycle this year asweak Indian demand prompted it to drop prices of cheaper goods. Proceeds fell to $440 million in November as the miner reducedprices by high-single-digit percentages for rough diamonds costing $100 per carator less, sightholders said last week. The Indian manufacturing sector has struggledwith thinning profit margins due to rel...Read More
The repeated failure to move past the 100-day exponential moving average (EMA) is a slight cause for concern for the bulls. The dollar index (DXY) remains on the defensive and could suffer a deeper sell-off, lifting gold above the key EMA hurdle if the 10-year treasury yield suffers a double top breakdown. Gold is currently trading at $1,221 per Oz, having faced rejection at the 100-day EMA hurd...Read More
Investing.com - Gold prices were little changed on Tuesday even after New York Fed President John Williams (NYSE:WMB) said the Federal Reserve “will be likely raising interest rates somewhat.”Gold futures for December delivery on the?EUR?Comex?EUR?division of the New York Mercantile?EUR?Exchange traded 0.08% lower at?EUR?$1,224.3?EUR?a troy ounce by?EUR?1:34 AM ET (06:34 GMT).?EUR??EUR...Read More
(IDEX Online) - Gemfields has announced auction revenues of $28.4 million from a November 14-17 sale of higher quality rough emeralds held in Singapore. The company recorded an average price of $68.03 per carat, with 40 companies placing bids and 74% of the goods offered being sold, a significant improvement on the results of the last such auction held last May. The 30 auctions of g...Read More
Gold's currency component finally shows some improvement.A timely short interest increase is also a potential rally catalyst.The bulls must take advantage now to end gold's trading range.One of the biggest supports for gold in recent months is the tendency for bearish bets to pile up at the slightest sign of weakness in the metal. The pattern since August has been for short interest to sig...Read More
Diamond miner De Beers sold $440-million worth of rough diamonds during the ninth sales cycle of this year.This is lower than the $475-million worth of diamonds sold in the eighth cycle of the year, as well as the $503-million worth of diamonds sold in the seventh cycle.AdvertisementDe Beers sold $466-million worth of rough diamonds in the ninth cycle of 2017.The sales are based on global sightho...Read More
(IDEX Online) - The Israel Diamond Institute (IDI) said it is optimistic as it prepares for the November 29-December 2 Hong Kong International Jewelry Manufacturers' Show at the Hong Kong Convention & Exhibition Centre. IDI said that positive expectations are based on rising demand in Hong Kong and other Asian markets, and an anticipated increase in activity before the Chinese New Year...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has generated a further $4.2-million in sales revenue following the sale of 3 411 ct from its Lulo alluvial mine, in Angola.The company told shareholders that the parcel of diamonds achieved an average price per carat of $1 220, bringing the total year-to-date sales of Lulo diamonds to $24.5-million at an average price per carat...Read More
(IDEX Online) - VOD Dubai International Jewellery Show (VOD DIJS), organized by DV Global Link, a joint-venture company between Dubai World Trade Centre (DWTC) and the Italian Exhibition Group (IEG), hosted local, regional and international exhibitors from 21 countries, showcasing over 25,000 jewelry pieces and holding valuable trade and consumer lifestyle events. VOD DIJS said next year's...Read More