Gold has been poweringhigher on balance for a couple months now, surging to major breakouts. That upside momentum is improving sentiment,with traders growing more bullish on gold’s potential. That is well-placed, as this upleg remainsyoung. Major gold uplegs are three-stageevents, each having distinct drivers. The first and smallest stage isn’t even finished yet,...Read More
Since the gold market now showsparallels to 2008 and 2013, what can we expect if the correction has justended? TheUSDX's Breakout The changes that we saw on the chartsyesterday were not enough to change anything that I describedyesterday, so those comments remain up-to-date. Also, what I coveredduring yesterday’s live event (I combined the live market analysis with thepresentation about the...Read More
Investors got some superficially good news on the economy this week. But it turned out to be bad news for markets.Although they’ve bounced back a little today, equities and precious metals markets sold off on Thursday following government data showing that the economy grew faster than expected in the third quarter. GDP was revised upward to a 3.2% annual pace from July through September.Of c...Read More
Gold defied anotherhawkish Fed decision this week, consolidating high in its immediate wake. That was an impressive show of strength,after this extreme Fed tightening cycle hammered gold for a half-year or so. That strong performance reflects gold-futuresspeculators’ weakening resolve to keep shorting. With their long-side selling exhausted, they havemassive mean-reversion...Read More
When I was younger, I was taught that if you cannot say something nice, don't say anything at all. Well, when many of you have asked why I have not written about metals in quite some time, now you know the reason. But, I think that's about to change.Before we begin, I want to give you a little background about my history in the metals market.For those who may not remember the action we experi...Read More
The gold mining sector is doing what it should do amid fading inflationIf you have tuned out inflationist gold bugs since mid-2020 you are now in position to capitalize, unlike scores of inflation bugs who’d already bought (and likely sold into tax loss season, 2022).Readers of nftrh.com have seen this space write many times how gold is not about inflation. At least not primarily. That compo...Read More
As investors and others continue to jockey for position in order to announce that “the bottom is in for gold” or that “gold owners received an early Christmas present” or “crypto failures will translate to higher prices for gold”, it is clear that most of them are thinking that increased demand for gold will drive its price higher.That is not the way it works....Read More
4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootRed Dirt rockets toward mining in 2023SPONSOREDred dirt metalsAlien Metals accelerates toward productionSPONSOREDalien metalsMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingThe company, previously known as BlackEarth Minerals, said its preliminary work suggested a BAM operation that co...Read More
4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootRed Dirt rockets toward mining in 2023SPONSOREDred dirt metalsAlien Metals accelerates toward productionSPONSOREDalien metalsMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streaming"As the minister of finance of Saudi Arabia said, mining in Saudi Arabia is an economic play. It's not a fiscal p...Read More
Hecla and the United Steelworkers (USW) Union Local 5114 have agreed to a 6-year contract.Read More
Last year's gold production was around 1% lower than the 4.2M oz of gold produced in 2021 and the third straight year of an annual decline in output.Read More
Interest in gold has been muted in recent quarters compared to other asset classes, partly because rising real rates and a stronger US dollar offered no incentive to increase exposure to gold.Read More
4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootRed Dirt rockets toward mining in 2023SPONSOREDred dirt metalsAlien Metals accelerates toward productionSPONSOREDalien metalsMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingTake Anglo's ESG credentials. One view holds that Anglo is probably ahead of the curve on matters green. In a rec...Read More
(IDEX Online) - Petra Diamonds announced yesterday that it had taken the "difficult decision" to put its loss-making Koffiefontein mine, in South Africa, on care and maintenance as it prepares for complete closure.The UK-based miner said it had failed to find a buyer for the underground deposit, which dates back to 1880 and which was expected to reach the end of its life in 2025."Production at Kof...Read More
(IDEX Online) - Exhibitors booked $3.7bn of orders at India's flagship trade show, the IIJS Signature, according to initial estimates by the GJEPC (Gem & Jewellery Export Promotion Council).Over 20,000 visitors attended the four-day India International Jewellery Show at the Bombay Exhibition Centre, in Mumbai, down on the 32,000 forecast by organizers. All but 800 were from India."The rec...Read More
(IDEX Online) - Rio Tinto has lowered the 2023 production forecast for its Diavik diamond mine, on the edge of Arctic Circle, in Canada. It now expects to produce 3.0m to 3.8m carats, compared with a 2022 forecast of 4.5m to 5.0m carats. Actual production for last year was on target, at 4.7m carats. Rio Tinto, the world's second-largest metals and mining corporation, gave no explanation for t...Read More
(IDEX Online) - Petra Diamonds says it's considering "additional financing options to provide support" while its Williamson mine is out of action.It also says it's talking to the government of Tanzania about the sale of a long-disputed diamond parcel that was confiscated in September 2017.A breach of the mine's tailings storage facility last November released 12.8m cubic metres of m...Read More
4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootRed Dirt rockets toward mining in 2023SPONSOREDred dirt metalsAlien Metals accelerates toward productionSPONSOREDalien metalsMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingBHP Xplor is an exploration accelerator established in August 2022, designed to support junior explorers and come...Read More
4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootRed Dirt rockets toward mining in 2023SPONSOREDred dirt metalsAlien Metals accelerates toward productionSPONSOREDalien metalsMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingResearch published last year by advisory group GlobeScan positioned mining dead-last in a table of 20 industries...Read More
Cobre Panama had a strong quarter, with copper volumes increasing from 80,000t in 4Q21 to 90,000 in 4Q22 despite a sharp deterioration in relations between the two sides in December last year.Read More