RAPAPORT... Swiss watch exports fell in February, as the coronavirus pandemic led to the worst monthly decline in Hong Kong in the last 20 years.Shipments dropped 9% to CHF 1.6 billion ($1.62 billion) for the month overall. Supply to Hong Kong dropped 42% to CHF 142.6 million ($144.6 million) and to China plunged 52%. Exports to the US, which hadn't yet been affected by the coronavirus, continued...Read More

RAPAPORT... Dominion Diamond Mines has put all operations at its Ekati mine in Canada on hold indefinitely in an effort to protect workers from the coronavirus pandemic.The miner has suspended operations at the Northwest Territories site because of the area's remote location and the large amount of air travel necessary for workers and support staff to get to the mine, it said last week. None...Read More

RAPAPORT... Kering, the owner of Gucci, Saint Laurent and Boucheron, said demand in China was starting to recover, even as the effects of the coronavirus intensified in other locations."The group is observing encouraging signs in mainland China, where the decline in store traffic, and hence in sales, is narrowing," the company reported Friday. "Conversely, the impact of the epidemic remains s...Read More

RAPAPORT... Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual sales figure the company reported in 2018. Sales increased 2% to $1.3 billion in the Asia-Pacific region, while revenue in the Americas fell 2% to $1.9 billion. Sales in J...Read More

As the global pandemic changes life for everyone, we at IDEX are adjusting to the "new normal".      It's time to take a bold and decisive action, so we have resolved to leverage our expertise and our platform assets to help friends and colleagues in our industry.    That's why we are, with immediate effect, opening up our diamond trading platform for FREE.&...Read More

RAPAPORT... Our heart goes out to the diamond community during these difficult times. We understand that the reduction of prices in the Rapaport Price List on March 20 is upsetting. The trade is invited to contact me directly at email prices@diamonds.net. We are reading and sensitive to all communications.It is vital that the Rapaport Price List reflect the realities of the market even when such r...Read More

QUESTION: Hello,Daily reader with coronavirus, in the ER waiting.If gold market is a low percentage of the whole market, what does this measure allow to collect significant capital? Any comment will be appreciatedKeep up the excellent work!!!Best regardsAKANSWER: This is not about how much it would collect. They are seeking to eliminate ANY means of circumventing their negative interest rate poli...Read More

QUESTION: Marty, the gold buyback quote at ….. is now spot + $20. A week ago the quote was spot + $2. Supply & demand? Shortage of 1 oz random year golden eagles? What’s going on?Thanks for your prolific post output during this crisis!Cheers, TGMANSWER: Europe has directed bullion dealers not to sell to individuals. You will probably see next week a proposal floated that asks Eur...Read More

Given the market volatility from the spread of COVID-19, the outlook for precious metals remains uncertain. Nevertheless, gold exploration and mine development remain important drivers of mining activity. Here are eight companies with exposure to gold and precious metals.Bear Creek MiningBear Creek Mining's Corani silver-lead-zinc project in southern Peru. Credit: Bear Creek Mining.Bear Creek Mini...Read More

The Dow Jones Industrial Average fell 17.30% (4,011.64 points) to 19,173.98 and the S&P 500 dropped 14.98%(4,061.1 points) to 2,304.92 during the Mar. 16-20 trading week. Spot gold fell US$31.10 per oz. to finish at US$1,498.80 per oz., a 2.03% decrease.Sandstorm Gold rose US64 ? to US$4.52. The company announced that it has withdrawn its 2020 guidance due to the COVID-19 pandemic. "Although Sands...Read More

The S&P/TSX Composite Index plunged 13.59% (1,864.5 points) to finish the March 16-20 trading week at 11,851.80. The S&P/TSX Global Mining Index fell 3.42% to 57.12, while the S&P/TSX Global Base Metals Index dropped 16.56% to 57.98. Spot gold finished at US$1,498.80 per oz., a US$31.10 per oz. drop or 2.03%. The S&P/TSX Global Gold Index rose 5.53% to 213.38.Kirkland Lake Gold climbed $4.81 to...Read More

The S&P/TSX Venture Composite Index plummeted 8.84% (34.58 points) to finish the week at 356.54. Spot gold finished the week at US$1,498.80 per oz., down US$31.10 per oz., or 2.03%.Shares of Skeena Resources rose 14 ? to 75 ?. The company recently announced a $20 million financing. The non-brokered private placement consisted of 17.14 million flow-through shares at a price of $1.55 per share. The...Read More

The developers at mobile video game publisher Scopely know that content is king. By licensing big-box franchises like "The Walking Dead," "Star Trek," and "Scrabble," and adapting them into free-to-play mobile games, the company has created a cash cow. The Culver City-based private company, founded inRead full newsRead More

"The potential for high-grade gold discoveries is attracting resource exploration companies to Ontario's famed Red Lake mining district. https://t.co/LZzZFUB1y1 @NewrangeNRG #gold #exploration #mining #RedLake"Read full newsRead More

The gold price surged on Monday after the US Federal Reserve promised to pump "unlimited" amounts of money into the financial system, boosting the metal's status as a store of wealth and an inflation hedge.On the Comex market in New York, gold for delivery in April, the most active contract, closed just off its day high at $1,567.60, up $83.00 an ounce, or 5.6% compared to Friday's close. Monday w...Read More

Image from BHP. Hatch, Anglo American, BHP, and Fortescue have formed a Green Hydrogen consortium as part of a move to evaluate using green hydrogen to decarbonize their operations.The consortium will aim to eliminate obstacles around the adoption of green hydrogen technologies and encourage their innovative application.Its goal is to identify green hydrogen development opportunities for the...Read More

Winter drilling at Colomac, NWT. Image from Nighthawk Gold. With the release of ten outstanding holes from the 2019 exploration program at its Indin Lake property in the Northwest Territories in Canada, Nighthawk Gold has expanded the under-explored central portion of the Colomac Main sill at depth. The holes targeted zones 2.5 and 2.0 at the 899-sq.-km project.Highlights include 36.1 metres of...Read More

We're going big. That was the message from the Federal Reserve and the Federal government this week. "This is war," they said. So they unleashed the BAZOOKAS.The Fed's Jerome Powell strutted to the mic on Sunday as fear gripped the world. The economy came into this on sound footing, he lied, repeatedly, as he cut rates to zero. And that was after he unveiled $1.5 TRILLION in new repo and QE oper...Read More

Sandvik Rhino 100 The arrival of the Rhino 100 mobile raise borer has proved a game changer for Perth-based underground contractor Raising Australia, part of the Byrnecut Group.Since introducing its first Rhino in 2017, Raining has been able to slash slot-raise production times, improve productivity for its customers, and increase revenue, the company said. Traditional raise boring machines used...Read More

Kakula mine, the first of at least three copper mines planned at Kamoa-Kakula in DRC. (Image courtesy of Ivanhoe Mines.) The Democratic Republic of Congo has imposed a 48-hour lockdown in Haut-Katanga, a key copper-cobalt-producing province after two people tested positive for the coronavirus on a flight from the national capital Kinshasa to Lubumbashi, the provincial capital. The measure, effe...Read More