Price trends in the global steel billet market changed direction in the week ended Friday February 22 amid limited interest from buyers in most outlets as well as a drop in imported scrap prices in Turkey.Turkish producers wanted demand to pick up for rebar and billet, in both the domestic and export markets, before they would buy more scrap, which resulted in the lack of trading activity.As a res...Read More
Feb. 22nd, 2019(S14-E684)Featured GuestsDr. Stephen Leeb& Michael PentoPlease Listen HereBest selling author, and show Mentor, Dr. Stephen Leeb returns with an even more robust outlook on precious metals.Dr. Leeb feels the trade war between the US / China will be resolved amicably without undo distress to either nation.The narrative includes the musical accomplishments of Glenn Gould, a most rem...Read More
In our previous article, we have highlighted the possibility that Gold can quickly retest the high in 2018. The chart below shows the yellow metal has broken above a long term bearish channel from Sept 5, 2011 high. In addition, it has successfully closed above the ascending trend support from December 3, 2015 low. We mention that the next logical swing target for the yellow metal is to retest 201...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 22 that are worth another look.Coal trading has become too risky, a trader said on Thursday February 21 following news that customs authorities in Dalian, a major city in northeastern China, had slashed the yearly coal import quota for ports under their jurisdiction by 25%.Zinc smelters have submitted bids...Read More
Feb. 22nd, 2019(S14-E684)Featured GuestsDr. Stephen Leeb& Michael PentoPlease Listen HereBest selling author, and show Mentor, Dr. Stephen Leeb returns with an even more robust outlook on precious metals.Dr. Leeb feels the trade war between the US / China will be resolved amicably without undo distress to either nation.The narrative includes the musical accomplishments of Glenn Gould, a most rem...Read More
Dear Friend of GATA and Gold:From GATA's point of view the problem with mainstream Western news organizations isn't so much "fake news" as suppressed news.Since the selection of every serious news story is essentially a political act, heavily influenced by the opinions of its writers and editors, news is not arithmetic. It always will be whatever writers, editors, readers, listeners, and viewe...Read More
Dramatic WeakeningMissing Inversion No Credit StressNot Going GlobalThe Rest of the Story"I'm an American!" Pat Caddell RIPDallas, Athens, and HoustonAn old joke says economists predicted 15 of the last 10 recessions. In other words, they're frequently wrong and often too pessimistic.I think it's not so simple. Every recession prediction is eventually correct; some just get the timing wrong. T...Read More
"If the Justice Department doesn't see something drastically wrong with that, then all hope for the rule of law is lost..."by Chris Powell of the Gold Anti-Trust Action Committee (GATA)Dear Friend of GATA and Gold:At the urging of Jim Cook of Investment Rarities and with the assistance of 24hGold, silver market analyst Ted Butler's most recent proprietary letter has been posted in the clear.This e...Read More
Gold futures settled higher Friday as the dollar weakened, with bullion booking its second straight weekly gain, a day after the metal's largest one-day drop since August. Gold for April delivery on Comex GCJ9, -0.10% gained $5, or 0.4%, to end at $1,332.80 an ounce, while March silver SIH9, -0.12% picked up 11.3 cents, or 0.7%, to finish at $15.914 an ounce. Gold booked a 0.8% weekly rise, while...Read More
• The latest FOMC meeting minutes provided a lift to the USD and prompts some profit-taking. • Uncertainty over US-China trade talks underpins safe-haven demand and helped limit downfall. Gold finally broke down of its Asian session consolidation phase and was now seen extending the overnight retracement slide from 10-month tops. The latest...Read More
Scientists are calling on mine operators to restore animal communities when they carry out site rehabilitation programs.According to a paper published in the journal Pacific Conservation Biology, the impact of mining on animals is overlooked as fauna tends to be under-recognized in assessments of restoration success. Based on a global review of literature, the Curtin University study found that ov...Read More
Mining chatter in the Yukon these days is all about the yellow metal. It's been that way for at least 10 years, according to geologist Mike Burke, who spent more than 20 years working for the Yukon Geological Survey before moving to the private sector."People were having a hard time in 2008, and then along came Kinross and bought Underworld Resources. That started an area play," Burke recalls.Now...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 22 that are worth another look.Coal trading has become too risky, a trader said on Thursday February 21 following news that customs authorities in Dalian, a major city in northeastern China, had slashed the yearly coal import quota for ports under their jurisdiction by 25%.Zinc smelters have submitted bids...Read More
Fitch Solutions' industry trends analysts have revised Canada's 2019 gold mine production growth forecast up to 6% from 2% predicting production to grow robustly as new projects come online over the coming quarters.Canada's dominance in attracting exploration investment has resulted in a strong gold project pipeline set to come online in 2019. Over the past decade, Canada has been able to attract...Read More
RAPAPORT... Lucapa Diamond Company plans to cut and polish select stonesin-house in an effort to maximize value for its shareholders. Third-party manufacturers charge high fees without adding significant value, explained CEO Stephen Wetherall in a recent interview. Bypassing them - either by partnering with a manufacturer of the company's choice, or by cutting and polishing its own diamonds -...Read More
RAPAPORT... Lucara Diamond Corp.'s sales slumped in 2018, as results for the previous year included the sale of a 1,109-carat rough diamond. Proceeds fell 20% to $176.2 million, the company saidThursday. While sales volume rose 35% to 350,798 carats, the average price dropped41% to $502 per carat. Lucara produced a record number of stones over 10.8carats from its Karowe mine in Botswana, incl...Read More
RAPAPORT... The Diamond Producers Association (DPA) will debut a newcampaign geared toward female self-purchasers during television coverage of the Oscarawards. The initial promotion of "For Me, From Me" will feature aseries of videos set to air on broadcast network E! Entertainment, followed by photo galleries onInstagram and the E! website. "Our latest campaign celebrates the distinct prid...Read More
Bundesverein Schmuck und Uhren (BVSU), Germany's Federal Association for Jewelry and Watches has joined the Responsible Jewellery Council (RJC). The association is the first German jewelry trade association to become an RJC member. Guido Grohmann, BVSH Managing Director, said "We are delighted to become a member of the RJC. Many organizations we work with have already been certified and our goal f...Read More
Angola's National Security Council (NSC) released a statement mid-February, reporting that from September 2018 to date some 450,000 illegal foreign citizens had been forced to leave the country. The report said that that some 350 rough diamond businesses involved in the illicit purchase of diamonds had been dismantled. In addition to large sums of money, the reported said that 34,480 carats of di...Read More
Signet Jewelers, the parent company of jewelry chain stores Kay, Jared and Zales is expected to let more than 3,000 employees go from its corporate operations in Akron, Ohio, and Dallas, Texas. Reportedly, Signet is offering voluntary buyouts to 2,600 employees in Akron and 890 employees in Dallas. The company expects that the employees' voluntary departures will be enough"to fund critical investm...Read More