Base metals prices on the Shanghai Futures Exchange gave a mixed performance during Asian morning trading on Monday August 27, with copper, zinc and tin moving up while the others were little changed to weaker. Continued weakness in the dollar provided broad-based support to the SHFE base metals, while copper prices were further buoyed by an improved fundamental backdrop.The most-traded October co...Read More
Mining operations have been suspended at the Tshipi Borwa Manganese Mine on the orders of South Africa's Department for Mineral Resources (DMR), the mine's owner has announced."Jupiter has been informed that the South African Department of Mineral Resources has served a Section 54 notice on the Tshipi Borwa Manganese Mine. It cites breaches relating mainly to recent pit wall failure and to drillin...Read More
Mining operations have been suspended at the Tshipi Borwa Manganese Mine on the orders of South Africa's Department for Mineral Resources (DMR), the mine's owner has announced."Jupiter has been informed that the South African Department of Mineral Resources has served a Section 54 notice on the Tshipi Borwa Manganese Mine. It cites breaches relating mainly to recent pit wall failure and to drillin...Read More
Drilling in the Upper Alteration Zone at Golden Ridge's Hank Project in BC's Golden Triangle region. Source: Golden Ridge Resources Ltd.Golden Ridge Resources Ltd. [GLDN-TSXV] was among the most actively traded stocks Monday after the company released final results from a recently completed Phase 1 induced polarization survey on its Hank project in British Columbia's Golden Triangle district.The c...Read More
South America's import prices for some flat steel products went down last week due to renewed offers from China....Read More
Financial Potemkin VillageA rising stock market has the illusory effect of masking the economy's warts and blemishes. Who cares if incomes are stagnant when everyone's getting rich off stocks? Certainly, winning wealth via the stock market beats working for it. Learning from history, 2018 style [PT] Without question, the pleasure that comes when opening an inflated quarterly brokerage statem...Read More
North China's hot-rolled coil prices fell amid futures market losses on Monday August 27 though those in the country's eastern region bucked the trend amid expectations of demand becoming more robust in the months to come....Read More
China's ferrous futures tumbled across the board during morning trading on Monday August 27, with the rebar contract leading the downtrend....Read More
CloseGain/LossGold $1210.30+$4.70Silver$14.88+$0.07XAU68.79+1.63%HUI149.19+1.62%GDM537.42+1.79%JSE Gold977.34+26.23USD94.76-0.37Euro116.85+0.62Yen90.15+0.12Oil$68.87+$0.1510-Year2.848%+0.035T-Bond145.15625-0.4375Dow26049.64+1.01%Nasdaq8017.90+0.91%S&P2896.74+0.77% The Metals: Gold saw modest gains in Asia before it fell back to $1203.30 in London, but it then jumped to as...Read More
COLORADO SPRINGS, CO , Aug. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of 1/6 of a cent per common share for August 2018 payable on September 24, 2018 to shareholders of record as of September 11, 2018. Gold Resource Corporation is a gold and silver producer, developer and explorer wit...Read More
A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comAugust 27, 2018 Price ratios determine the relative value of commodities and are useful parameters to determine if a particular commodity is fairly valued, oversold, or overbought. Ratios can give insight into potentially profitable speculations. These include the commodity itself, market derivatives, and...Read More
By Frank HolmesStrengths? The best performing metal this week was palladium, up 2.50 percent despite money managers flipping to net bearish positions in the futures market with Friday's update. Gold traders have switched back to a mostly bullish outlook, as of Thursday's afternoon survey, for the yellow metal this week, as it appears the price is nearing its floor, according to t...Read More
By Jp CortezAmericans no longer carry gold and silver money in our pockets and purses as our grandparents did. But we still carry the history, legacy, and spirit of those gold and silver coins in our language."Sound money" embodies a clear message recognized for centuries around the world. It describes the musical, metallic ring of a gold, silver, or copper coin dropped on any hard surface of gl...Read More
By Avi GilburtFor those that follow me regularly, you will know that I have been tracking a set-up for the SPDR Gold Trust ETF (NYSEARCA:GLD), which I analyze as a proxy for the gold market. I also believe that gold can outperform the general equity market once we confirm a long-term break out has begun.While I have gone on record as to why I do not think the GLD ETF is a wise long-term investme...Read More
Dear Friend of GATA and Gold:In response to GATA's August 23 dispatch -- "Tocqueville's Hathaway Marvels at Gold's Depression but Declines to Explain It" --http://www.gata.org/node/18446-- a friend who is a fund manager writes:"Don't be so hard on Hathaway. ... Once you start making a lot of noise about what goes on behind the curtain you have no idea of the dirty tricks and outright criminality...Read More
By Keith WeinerLast week, we said that the consensus is that gold must go down (as measured in terms of the unstable dollar) and then will rocket higher. We suggested that if everyone expects an outcome in the market, the outcome is likely not to turn out that way. We also said that this time, there is likely less leverage employed to buy gold and that gold is less leveraged as well. And this, c...Read More
- Paper currency in Venezuela is now worth less than toilet paper- Incredible Reuters photos highlight the disaster that can become of fiat (both paper & digital) currency devaluations- 2,600,000 paper or electronic bolivars for one roll of toilet paper- 14,000,000 bolivars for one chicken highlights the disastrous decline in the standard of living in the socialist dictatorship- One gold coin...Read More
Import prices for rebar in Singapore held steady over the past week amid limited negotiations in the spot market....Read More
David Stockman appears on "Cavuto: Coast to Coast" (Fox Business, Aug. 27, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he...Read More
John commented on Gold's $20 spike on Friday due in large part to Fed Chair Powell's dovish statements. It's been a grinding depressing stretch for precious metals. But the latest COT report shows the speculators are net short, the last time this happened was in 1999, the beginning of a long glorious run. The tree does not grow to the sky. John Rubino is the founder and manager of the popular fin...Read More