RAPAPORT... Alrosa gave a positive assessment of the diamond market ahead of the holidays after rough and polished trading picked up in the third quarter.The Russian company's rough-diamond sales climbed to $552.9 million during the three months ending September 30, compared with $74.1 million in the second quarter, it reported Friday. Sales declined 8% year on year, a less severe s...Read More
RAPAPORT... LVMH's jewelry and watch sales declined in the third quarter, even as a recovery in China buoyed sales, the company said last week.Revenue for the category fell 14% to EUR 947 million ($1.11 billion) for the three months ending September 30."A rebound in China was observed in the third quarter, but did not prevent the overall activity from dropping...in the period," the luxury group no...Read More
(IDEX Online) - Alrosa has effectively canceled its rough trading session for October to avoid over-supplying the market.The Russian miner reported totals sales of $336m in September, up almost a quarter on the same month in 2019, as it maintained a policy of offering discounts and flexibility.But while uncertainty persists over coronavirus it says it is keen to service only genuine demand from bu...Read More
(IDEX Online) - Mountain Province Diamonds announced a 17 per cent increase in carats recovered from its Gahcho Kue mine.It said it had adapted to COVID-19 work practices and concentrated its efforts on a pit yielding higher grade diamonds.The Canadian miner recovered a total of 1,794,408 carats in Q3, up from 1,528,494 carats for the same period in 2109.It holds a 49 per cent stake in the mine (p...Read More
(IDEX Online) - Lucapa is considering an expansion of its Mothae mine, in Lesotho, southern Africa, after a significant increase in diamond resource estimates.The Australia-based miner says a total JORC classified indicated resource has been estimated for 9.2 million tonnes containing ~280,000 carats of diamonds at a diamond grade of 3.10 carats per one hundred tonnes and an average un-escalated m...Read More
Many people have written in to ask about precious metals, what to buy, and where to store them. A number of people ask about storing at the Perth Mint or some designated metal storage facility. There are many different places for storage. However, I would not store anything with any government facility whatsoever. Even when gold was confiscated in 1934, they seized all gold on deposit at any bank....Read More
Like a lot of other outdoor pursuits that allow practitioners to socially distance,prospecting has taken off during the pandemic.Read full newsRead More
Barrick Gold Corp on Thursday estimated a 10.8% drop in third-quarter gold production as the miner's Porgera project in Papua New Guinea remained shut during the period.Read full newsRead More
Tanzania's gold-mining industry is showing signs of a renaissance following a crackdown on smuggling and the settlement of a long-running dispute with Barrick Gold Corp.Read full newsRead More
With all eyes firmly on the upcoming U.S. election, the pandemic-stricken markets could be facing some early November volatility. In the long term, the best-quality stocks are likely to recover. However, some huge value opportunities could very well be just around the corner. Instead of fretting, investors should be making a wish list, determining entry points, and looking to go long on beaten-up...Read More
Oct 19, 2020 Guest(s): Mark Skousen October 19, 1987 was a day of infamy for stock market traders. Known as the "Black Monday" stock market crash, markets all around the world tumbled, with the U.S. markets falling more than 20% during the trading session that day.Mark Skousen, editor in chief of Forecasts & Strategies, predicted that a major market correction would happen in 1987, and mont...Read More
Here are five Fastmarkets stories you might have missed on Monday October 19 that are worth another look....Read More
Bob Moriarty ArchivesOct 19, 2020Twenty years from now there are going to be more books that will have been written about the year 2020 than are in print about the Kennedy assassination. Just when you think it would not be possible to get any more nuts, it gets more nuts. The latest news from the monkey jungle we call Washington DC is that Joe Biden was getting payoffs from China. Not that the ave...Read More
Further measures to increase transparency and investments for metal producers were required to expand the sustainable metal market, participants said on a sustainability panel during the London Metal Exchange's online LME Week seminars on Monday October 19.Harald Friedl, sector lead at Climate Champions, said that the issue of sustainable metals supply chains has continued to gain traction among t...Read More
The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Monday October 19, rallying by more than 2.5% against positive forward spreads and robust demand.Meanwhile, a firm contango for LME tin resulted in high trading volumes pushing the metal's outright price to a 14-month high.Zinc's outright price on the LME closed at $2,491 per tonne on M...Read More
Jack ChanPosted Oct 19, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal. Short-term signals can last for days and weeks and are more suitable for traders. COT data is supportive for overall higher gold prices.COT data is supportive for overall higher silver prices.Our ratio is...Read More
Canada-based Lundin Mining Corp is to suspend operations at its Candelaria copper mine in Chile after mediation talks with a second union at the site failed to result in an agreement .Around 550 workers represented by the Candelaria AOS Union can now legally strike from October 20. They will join around 350 members of the Mine Workers Union who began industrial action at Candelaria on Oc...Read More
Seaborne prices for both low- and high-grade manganese ore in China continued to move downward in the week to Friday October 16, with producers lowering their offer prices for 37% material and sentiment weakening for 44% ore, market participants told Fastmarkets.Increasing stock levels and falling portside ore prices also weighed on demand, they added.Fastmarkets' manganese ore index, 37% Mn, cif...Read More
Max Layton, head of EMEA commodities research at Citi, said copper had been the "flavour of the day" in his recent client conversations.Read More
The latest data for the global manganese ore market for the week ended October 19, 2020.Read More