Kitco News, Released on 10/30/21It's been "a mad world" out there with record-high equities, real estate and more. But the long-awaited surge in gold and silver is coming in the next six months, said Mike Larson, senior analyst at Weiss Ratings."If you're in a world where many assets are over-valued, where real estate is extremely highly valued, stocks are extremely highly valued, and so on. What...Read More

The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More

A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More

A summary of Glencore's 2021 third-quarter production report for the coal sector, released on Friday October 29.In briefThe company's coal production for the year to September 30 was 76.3 million tonnes, some 7.2 million tonnes (9%) lower than the comparable period in 2020, reflecting a full period with its Prodeco operations in Colombia under care and maintenance, the progressive recovery from th...Read More

So, QE ended (so far in Canada, but the Fed will follow suit) and the termination plunged gold prices in Canadian dollars. Will this repeat globally?Finally! Yesterday (October 27, 2021), one central bank ended its quantitative easing program after gradually reducing the pace of asset purchases earlier this year. Don’t panic though - it wasn’t the Fed, nor the ECB, nor the Bank of Jap...Read More

Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More

The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More

Look beyond market approach to project valuations: van ZylLeadershipNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldPolarX finds extra copper potential in AlaskaSPONSOREDpolarxAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsThe S&P 500 touched 4,608.08 on Friday before closing up 0.2% to 4,605.38.However base metals could be under more pr...Read More

RAPAPORT... Two headpieces believed to have belonged to Empress Jos?(C)phine Bonaparte of France are set to go on sale at Sotheby's after spending the last 150 years in a private collection.The tiaras, made in Paris in 1808, are expected to fetch up to GBP 500,000 ($684,629) combined at the December 7 London Treasures sale, the auction house said last week. Each headpiece is part of a parure - a s...Read More

RAPAPORT... The industry continued to downsize in the US in the third quarter, according to the latest data from the Jewelers Board of Trade (JBT).Some 113 businesses exited the sector during the three months ending September 30, compared with 101 in the same period a year earlier, the figures showed Friday. In total, the number of companies active in the US industry fell 1.9% year on year to...Read More

RAPAPORT... Gem Diamonds' revenue dropped in the third quarter as the miner sold fewer high-value stones from its lucrative Let??eng deposit in Lesotho.Sales came to $47.3 million for the three months ending September 30, the company reported Thursday - a 22% decline from a year earlier. The average selling price decreased 28% to $1,589 per carat.While prices were robust on a like-for-like ba...Read More

RAPAPORT... Breitling's majority owner has sold off part of the business and indicated it might list the luxury Swiss watch brand on a stock exchange.Partners Group, a global private investment firm, has acquired a "significant minority stake" in Breitling from CVC Capital Partners Fund V1, the companies said last week. "We look forward to working closely with [Partners Group] to continue to...Read More

RAPAPORT... A 10.90-carat diamond will star as the centerpiece of the upcoming jewelry sale at Skinner Auctioneers.The emerald-cut, J-color, VS1-clarity diamond ring is estimated to fetch up to $250,000 at the November 16 Important Jewelry auction, the US-based company said last week. A ring with a pear-shaped, 6.20-carat solitaire diamond, flanked by tapered baguette diamonds, will also go under...Read More

(IDEX Online) - Observers for the Kimberley Process (KP) have drawn up four key demands to end the ongoing flow of conflict diamonds.They say the certification scheme, which was established in 2003, has been deadlocked for over a decade as member countries fail to agree on adapting to current challenges.The Kimberley Process Civil Society Coalition, which acts as an observer for KP, says diamond m...Read More

(IDEX Online) - Hackers are holding the exclusive London jeweler Graff to ransom after stealing confidential data on tens of thousands of super-wealthy clients.A report in The Mail on Sunday (MoS) today says details of buyers and their purchases could cause huge embarrassment to customers who bought gifts for secret lovers or had received jewelry as a bribe.Graff has become a go-to jeweler fo...Read More

(IDEX Online) - A British retiree who almost binned an item of worthless "costume jewelry" was stunned to find it was actually a genuine 34-ct diamond, worth up to $2.75m.The unnamed 70-year-old was clearing her house and took it to be valued, along with other pieces she'd picked up over the years, at swap meets. She had no idea where she bought it or how much she paid.Featonby's Auction...Read More

Traders andinvestors are waiting for two key events this week that will shape thedirection and price of gold. The first event will begin tomorrow and concludeon Wednesday when the Federal Reserve convenes and concludes its November FOMCmeeting. This will be followed by the Fed's monetary policy statement whichwill contain any changes, as well as a press conference by Chairman Powellapproximately...Read More

In 1933 the United States was deep into the worst economic depression the nation had ever faced. The stock market crash a few years earlier wiped out millions of investors. Countless businesses went bankrupt. The unemployment rate neared 25%. Meanwhile, half the country's banks had failed.It was a dark time for America - and not unlike many of the conditions we face today.In their time of need, th...Read More

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - The SHIBA INU coin made headlinesin recent weeks, having climbed 780% in the last month alone. The coin, created by an individualor group known as Ryoshi, was intended to be a satire on the popular Dog...Read More

(Kitco News) Tech billionaire Peter Thiel views bitcoin at $60,000 as signaling "a crisis moment," stating that he regrets not buying more earlier."Bitcoin [at] $60,000 – I'm not sure that one should aggressively buy [at that price]. But surely what it is telling us is that we are having a crisis moment," Thiel said at the second National Conservatism Conference.High crypto prices point to a...Read More