GIA is taking all reports digital by 2025. Retailers throughout the industry have offered positive feedback on this initiative, which will be accompanied by advanced technology that increases the security of a diamond's identity. This digital evolution consists of three dynamic elements: Fully Digital Reports: This evolution begins with the digital launch of GIA's most popular report, GIA Diamond...Read More
(IDEX Online) - Tanzania is reportedly looking to sell its rough through the Dubai Diamond Exchange (DDE).Minerals minister Dotto Biteko said the country needs to seek more lucrative markets for the estimated 500,000 carats it produces annually, according to The Citizen newspaper.He was speaking ahead of a meeting of the 18-member African Diamond Producers' Association, of which Tanzania is t...Read More
(IDEX Online) - A gang ran off with high-end diamond jewelry after a 30-second smash and grab at a store in the Bronx, New York.A "customer" who was buzzed into Rocco's Jewelry on Friday afternoon ushered in three accomplices who smashed glass display cabinets with hammers and emptied trays of merchandise."Once inside the store, the three individuals used a hammer to smash open the display ca...Read More
(IDEX Online) - The IDEX Polished Price Index declined more markedly during July. It closed down by 2.05 per cent, compared with 1.18 per cent in June and 0.69 per cent in May. The rate of decline appears to be accelerating with each passing month. January and February, by comparison, showed sharp increases, up by 5.67 per cent and 4.14 per cent respectively.IDEX Online subscribers please cli...Read More
Investor Insight: InterGroup MiningSPONSOREDintergroup miningSky the limit for AuTECO in CanadaSPONSOREDauteco minerals ltdEmerging SA gold developer Barton Gold breaks the mouldSPONSOREDbarton gold holdings limitedAlicanto wows with maiden resourceSPONSOREDalicanto mineralsPetro wants Colombia to produce energy transition minerals such as lithium [even though the country has no lithium deposits],...Read More
The company reported that the sinkhole has remained stable since detection and that the area was immediately isolated, with no impact to personnel, equipment or infrastructure.Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.Barrick Gold slipped $0.12 to US$20.17 after reporting less than consensus second quarter revenues and earnings. Pfizer was unchanged at $49.27 following news of its acquisition of Global Blood Therapeutics for $68.50 per share cask. Value of the offer is estimated at $5.4 billion. Global...Read More
Though it’s difficult to be confident of anything in the current flux we're experiencing, I am pretty confident of three things:1) Price is set on the margins.2) Currencies are the foundation of every economy.3) The financial forecasts issued to calm the public do not reflect operative geopolitical goals.Let's break this down. Every national government has “global interests.” Gov...Read More
When inflation started clobbering producers and consumers last year, the general feeling in the air was: This won't last long. After all, everyone in a position to know promised it was all transitory. Just one of those things that comes and goes before life gets back to normal.Gradually, we've come to see the light. There will be no rolling back those price increases in general. There will be decl...Read More
The Federal Reserve believes it hangs from the hooks of a horrendous dilemma.To cage the inflationary tiger presently amok, it would likely plunge the economy into severe recession...Yet if it navigates a wallowing economy away from recession, inflation will run and run and run.But is it a false choice? Must the Federal Reserve bludgeon the economy to cripple inflation?Consider: It believes it mus...Read More
You may liken today's economy to an overswollen tick, obese with blood.Rather than blood, the economy is obese with debt.Like our ludicrously engorged arachnid, the economy cannot much expand. It is impossibly loaded down... groaning under the burden... horribly swaybacked.The economy will continue to wallow - unless it can shake off the weight. But how can it?Today we blow the dust off an ancient...Read More
It is (un)official - the United States economy has descended into recession.Government data, this morning released, revealed that second-quarter GDP contracted at a 0.9% annualized pace.This, after first-quarter GDP contracted at a 1.6% annualized pace.A recession is generally defined as two consecutive quarters of economic contraction. And so there you are.Experts being experts, most polled econo...Read More
Consensus opinion projected the Federal Reserve would elevate its target rate 75 basis points today.The monetary authority greeted expectations, precisely - 75 basis points it was, announced at 2 p.m. Eastern.Thus the federal funds rate presently ranges between 2.25-2.50%.This rate of course falls miles and miles beneath the 9.1% (official) consumer price inflation currently going.Assume today's b...Read More
All the talk right now is about recession. Are we in one right now? (We'll have the technical answer on Thursday.)The spinmeisters in the Biden administration and the media are of course trying to redefine a recession in an attempt to get ahead of the news cycle.But today, I want to take the longer view and see the bigger picture. What is it? Here it is:The economy remains stuck in the New Great D...Read More
On Wednesday the Fed will be announcing another rate hike. The only question is how big will it be?The market consensus forecasts a 75-basis-point increase, which I happen to agree with.Regardless, the Fed is tightening into weakness. For the economy and the stock market, that means a bumpy ride is ahead - and maybe a very bumpy ride.First of all, it's highly likely that the U.S. economy is in a r...Read More
What's wrong with the world? Let me count the ways...The Western gambit against Ukraine is a bust, a foolish miscalculation that was obvious from the start. All it accomplished was to reveal the pitiful dependence of our European allies on Russian oil and gas, leaving their economies good and truly scuppered without them.The Russians will likely end up with control of the Black Sea and probably th...Read More
A study earlier this year from four prestigious institutions proclaimed that you should eat bugs and spiders.And not only that. The study - conducted by BI Norwegian Business School (BI), Chuo University, Miyagi University and Oxford University - also said that the way to convince people to do this is to have celebrities do it on YouTube videos.Like clockwork, they are suddenly everywhere. You are...Read More
Despite Coeur Mining (TSX: CDE) reporting June-quarter production and costs mainly in line with Bay Street estimates, at least one analyst has downgraded the issuer while flagging concern over perceived balance sheet risk over the coming 12 months.Canaccord Genuity Capital Markets analyst Dalton Baretto has downgraded the issuer to 'HOLD' from 'BUY' and is modestly reducing his target price to US$...Read More
B2Gold (TSX: BTO; NYSE-AM: BTG) and AngloGold Ashanti (NYSE: AU; JSE: ANG;) have put their Gramalote gold joint venture in Colombia on hold. In a news release on Aug. 3, B2Gold said that based on preliminary results from their optimized feasibility study for Gramalote, the miners determined that Gramalote doesn't meet their investment thresholds for developing the project. "In conjunction w...Read More
Canadian miners are mourning the passing of industry heavyweight Ned Goodman (1936-2022).Over more than 30 years, Goodman has made transformative and enduring contributions to Canada's minerals industry and capital markets as a company-builder, merchant banker and investment advisor during a dynamic career spanning almost half a century.Montreal-born Goodman applied his geological training and bus...Read More