Silver is currently going for a majorbreakout.Here is a chart I featured months ago: On the chart, thefirst phase of the silver bull market was from 1993 to the end of 2001, and thesecond phase is potentially from 2001 to the end of 2015.It appears that there is a similarity betweenthe two phases. I have drawn some lines, and marked some patterns to show howthey could be similar.The first phase i...Read More
ECB’s meeting is behind us, while the gathering of the Fed officials is ahead of us. In the meantime, the price of gold jumped above $1,300. Will it stay for longer? Slowdown in the Eurozone, but not RecessionOn Thursday, the ECB held its monetary policy meeting. It left the policy on hold. The bank also maintained its forward guidance about the future path of interest rates unchanged (they...Read More
By: Stefan Gleason, Money MetalsDuring the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked.Peak gold represents the point at which the total number of ounces being pulled out of the ground by miners reaches a maximum.It doesn't necessarily mean...Read More
By: Gary ChristensonGold prices (weekly chart) formed an impressive inverse head and shoulders formation during a five-year base. Gold prices, which bottomed in December 2015, should climb the wall of worry.WHAT WALL OF WORRY?Really? You have to ask? Financial, stock market, debt and political worries come to mind:Global debt is about $250 trillion. The lenders expect to be repaid plus interest....Read More
By: Richard (Rick) Mills Gold markets were rocking on Tuesday, lifted by a basket of factors that included poor stock market performance earlier in the week, slow growth in China, weak earnings reports and expectations the US Federal Reserve would strike a dovish tone at its two-day meeting starting on Tuesday afternoon. The Fed raised interest rates four times in 2018 but some officials have...Read More
By: Gary TanashianAs the stock market cracked on October 10th we noted...Looks Who's Holding Firm Amid the Carnage; the Gold MinersAnd sure enough the GDX bottoming pattern noted in that post (and before that in an NFTRH subscriber update) played out perfectly amid the stock market carnage going on all around it.Was I trying to predict something? Of course not. I was just following general rul...Read More
By: David HaggithFederal Reserve Chair Jerome Powell placed his put in stocks while saying there is none. When he doubled down today on a more dovish approach to the economy, Powell claimed the Fed is not designing interest rates to keep the market climbing. If that is true, recession must be near:Fed delivers a "double-barrel dovish blast" The Fed sees recession dead ahead. You have only that...Read More
Well, there you have it: the most brazenly bogus rally in the history of the world. Are these guys good, or what? The fix was in even before Powell declared Wednesday afternoon that the Fed would be "patient." (Now there's a word that will reverberate through history!) AAPL's and Boeing's handlers had already gotten the jump on the Fed chairman's latest PR mutterance, deftly engineering respec...Read More
Full Article: SWOT Analysis: Gold Traders Bullish for 11th Straight WeekBY: Frank HolmesStrengthsIn what has been a rather rare occurrence, silver was the best performing metal this week, up 2.64 percent despite a steady trickle of silver out of the physical metal ETFs on a near daily basis. Gold traders are bullish for an 11th straight week, as surveyed by Bloomberg, on the heels of a declining...Read More
Silver peaked just shy of $50 during April of 2011. The price has been correcting ever since, falling below $14 per ounce in 2016 and again late last year. But there is a silver lining to such a deep and protracted price correction.With silver prices under $20 per ounce for so long, a significant number of mines are unable turn a profit. And even the ones that can, are not generating enough cash f...Read More
Has the Great North American Silver Stacker woke up from its 2-year hibernation? Here's Steve St. Angelo with an update on the physical silver market...by Steve St. Angelo of SRSrocco ReportAs the demand for precious metals shows some life once again, sales of the U.S. Mint Silver Eagles jumped in January. Not only have Gold, and Silver Eagle sales increased, so have the precious metals prices....Read More
Is the Aussie Dollar signaling that a major commodity low is being established this month? Possible!The Aussie Dollar and commodities have been highly correlated for a couple of decades. The AU$ has spent the majority of the past couple of decades inside of rising channel (1). It hit the top of this channel in 2011 and a long-term decline was underway. As the AU$ has declined over the past 8-years...Read More
Polished trading sluggish with Far East dealers onholiday for Chinese New Year. Reduced expectations for Chinese Year of the Pigafter 4Q slowdown. US buyers cautious as Conference Board consumer confidence indexfalls 5% to 18-month low, due to volatile stock market and government shutdown.High-end luxury doing well. LVMH 4Q jewelry and watch revenue +8% to $1.3B. Roughpremiums decline, with contin...Read More
Dealers and cutters cautious as US restocking isslower than expected. Low volume of new goods coming to the market, withsignificant slowdown in diamond manufacturing. Inventory levels high and suppliersoffering old stock at deeper discounts. Steady demand for SI-I1 clarity goods.Concerns about tight profit margins and reduced bank credit. Rough tradingrelatively slow following De Beers sight. Ro...Read More
RAPAPORT... Retail sales of jewelry and other luxury items dropped in HongKong in December, amid the continued impact of global economic uncertainties onconsumer demand. Revenue from jewelry, watches, clocks and other valuablegifts fell 4.9% year on year to HKD 8.27 billion ($1.05 billion), themunicipality's Census and Statistics Department reported Thursday. Sales in allretail categories wer...Read More
RAPAPORT... Reuven Kaufman, president of New York's Diamond DealersClub (DDC), spoke with Rapaport senior news reporter Joshua Freedman at therecent International Diamond Week in Israel.Retailers had a good holiday season, but have been wary about taking on too muchinventory due to global economic factors affecting sentiment, Kaufmanexplained. He also outlined how changes in Chinese buying habits...Read More
RAPAPORT... Alrosa has stopped supplying rough diamonds to Lev Leviev'sLLD Diamonds through its contract-sales arrangement, as part of a reshuffle of the miner's long-term client list.The tycoon's Israel-based firm is one of "several" former customersthat have dropped off the 2019 supply roster, known as the Alrosa Allianceprogram, the Russian company said. "Last year, there was a decision to...Read More
RAPAPORT... The Gemological Institute of America (GIA) will offer $2million in scholarship funds to aspiring students in 2019, it said Wednesday. Students interestedin its gemology and jewelry-manufacturing arts programs, distance-educationcourse and lab classes can apply for funding. "Scholarships are a very important part of ourmission-driven education programs, helping hundreds of student...Read More
(IDEX Online) - Tach?(C) company and Samir Gems jointly announce the purchase of the 29.59-carat fancy pink diamond, "The Rose of Kao" (Lesotho). The diamond was purchased at an undisclosed price by a partnership between Tach?(C) and Samir Gems, Tach?(C) said in a statement. Under the deal, Namakwa Diamonds will retain an ownership percentage in the diamond, thus participating in th...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftGolden Mile positioned for successSPONSOREDgolden mile resourcesCardinal advances at pace in Ghana SPONSOREDcardinal resourcesRevised Leonora PFS is next for KinSPONSOREDkin miningThe drill hole included multiple 1m intersections with grades above 20% copper and Ivanhoe said DD1450 was the t...Read More