LONDON, 6 May 2020 - Popular opinion and news-site Medium today quotes insight and data from BullionVault on how the Coronavirus Pandemic is affecting the global gold market."BullionVault has seen a record number of new accounts in March and April, all wanting gold delivered," says the report.But the Covid Crisis "has thrown a wrench in moving metal around really quickly, easily, and at low cost,"...Read More
Sometimes when we observe people on the streets, when we see crowded restaurants and pubs, it seems like the pandemic has ended. But is the global epidemic really over? Not at all. Please look at the chart below. As one can see, the daily number of confirmed cases of COVID-19 in the world is still in an upward trend. However, in the developed countries the number of daily new cases has declined a...Read More
LONDON, 23 April 2020 - The flood of new precious-metal investors choosing to use BullionVault during the dreadful Coronavirus Crisis features today in an article on the merits of investing in gold from The Spectator, the weekly UK news, culture and politics magazine."Gold website BullionVault allows retail investors to buy precious metals directly," says the magazine. "It's seen record levels of...Read More
As a contrarian and long-term holder of Goldcorp. (now Newmont), the latest push higher in the price of gold begs the question: is now the time to sell?The concern, for the uninitiated, is that after the price of gold moves powerfully higher there is an uncanny tendency for forces to mysteriously align and push prices powerfully lower.These “forces” (excuse the conspiratorial flare), h...Read More
LONDON, 3 April 2020 - Japanese finance news-wire Quick Money today reports a surge in gold demand among users of BullionVault, the London-based online trading company."BullionVault's March gold demand reached 42 times the average of the past 12 months," says Quick's report, "and the amount of gold demand is enough to make 306,317 18-carat wedding rings."Read the full story in Japanese at Quick Mo...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 15 that are worth another look.Polish coking coal miner Jastrzebska Sp??lka Weglowa (JSW) is looking for financial aid to support operations badly affected by the Covid-19 pandemic, the company said on Wednesday July 15.Part of the Nchanga copper mine in Zambia collapsed during the morning of July 15, as operator Konkola Cop...Read More
A persistent backwardation in tin's forward curve on the London Metal Exchange pressured the tin premium in Europe in the two weeks to Tuesday July 14; meanwhile, premiums in all other regions assessed by Fastmarkets were unchanged.LME tin price climbs, but backwardation inhibits European tradeUS tin premiums flat despite surging Covid-19 casesExcess Chinese supply outweighs arbitrage opportunitie...Read More
Craig HemkeThere was a time when the total U.S. fiscal deficit and debt seemed to matter. Apparently, that time has passed.Oh, my goodness. The good old days. I'm old enough to remember 2009 and all the rage about "exploding deficits" and "stealing our children's future". Heck, I even flew a Gadsden Flag for a while and attended a "Tea Party" rally near my home.Back then, as the U.S. struggled t...Read More
Keith Weiner, Monetary MetalsOne of our colleagues recently wrote an open letter to Ted Butler. The point was that Monetary Metals gold leasing is a different kind of activity than what is called "gold leasing" in the institutional bullion market. We make it possible for gold owners to lease their metal to gold-using businesses, and thereby earn interest in gold. Today, I want to discuss someth...Read More
Gold will break free from the recent consolidation phase and form a new range. Silver is bullish. Copper and crude oil are in a neutral zone to bullish zone. Better to remain on the sidelines today. A weaker US dollar will ensure that all metals rise before close. Trump has ended special status to Hongkong. (to me Hongkong is a part of China just like Palestine belongs to Palestinians and not to...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 15.Please click...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday July 15, despite a loosening of the metal's forward curve, while zinc futures led the base-metals complex to close just above nearby support levels.Copper's outright price on the LME closed at $6,386 per tonne on Wednesday afternoon, falling from an intraday high of $6,550 per tonne, while turn...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 15 that are worth another look.Polish coking coal miner Jastrzebska Sp??lka Weglowa (JSW) is looking for financial aid to support operations badly affected by the Covid-19 pandemic, the company said on Wednesday July 15.Part of the Nchanga copper mine in Zambia collapsed during the morning of July 15, as operator Konkola Cop...Read More
Steel traders in China have defaulted on contracts to supply their customers with some 200,000 tonnes of July-delivery Tangshan-origin steel billet as a result of high spot prices, industry sources told Fastmarkets this week.Buyers affected by the defaults have had to seek out cargoes in the spot market to meet their immediate needs, they said."Buyers can buy seaborne cargoes that will arrive in C...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 15.Please click...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday July 15, despite a loosening of the metal's forward curve, while zinc futures led the base-metals complex to close just above nearby support levels.Copper's outright price on the LME closed at $6,386 per tonne on Wednesday afternoon, falling from an intraday high of $6,550 per tonne, while turn...Read More
Seaborne iron ore prices observed rangebound movements on Wednesday July 15 amid uncertainty surrounding the near-term demand on steel because of the flooding caused by heavy rainfalls in southern China.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $112.30 per tonne, down $0.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $114.11 per tonne, down $0.15 per tonne.58% Fe fines high-grad...Read More
RAPAPORT... The Natural Color Diamond Association (NCDIA) plans to build a "United Nations" of ambassadors to promote the qualities of natural-color diamonds in their respective countries."Most organizations like ours are searching for ways to move forward after the impact of the world economies shutting down due to the pandemic," NCDIA president Alan Bronstein said Tuesday. "Like other leadi...Read More
RAPAPORT... Twelve jewelry designers have received the Manufacturing Jewelers & Suppliers of America (MJSA) Vision Award, which this year includes a new category for colored-stone distinction.The prizes honor outstanding creativity, craftsmanship and technological prowess, as well as originality and functionality. MJSA awards them to both professionals and students, the trade organization...Read More
RAPAPORT... Christie's garnered $338,781 from an online charity auction of Anna Hu jewels that will help support the families of health-care workers who lost their lives fighting Covid-19.The sale, which benefited Alrosa's new social-responsibility initiative, Diamonds That Care, featured three pieces by the designer. The Russian miner contributed 500 white and fancy-colored, brown-toned poli...Read More