Dear Friend of GATA and Gold:Thanks to C.C., our new friend in Shanghai, China, for alerting us to Chinese-language commentary published in August in the Hong Kong Economic Journal that cited GATA extensively, even taking for illustration the GATA painting by Alain Despert: https://www1.hkej.com/dailynews/investment/article/1914231/ Your secretary/treasurer today has had some fun attempting a tr...Read More
The last few years of the Everything Bubble were driven by the ultimate dumb money: corporations borrowing to buy back their stock at record high prices. A whole generation of CEOs and CFOs were able to pad both their reputations and their year-end bonuses this way while, it seemed, blatantly screwing over their employees and other stakeholders. Like most other kinds of criminal negligence, this...Read More
Graceland Updates By Stewart Thomson 1. The US stock market continues to implode. At the same time, precious metals, bitcoin, and the Indian stock market are acting as superb safe havens.2. Please click here now. Double-click to enlarge this great short term gold chart.3. Note the positive bounce from buy-side support at $1237, and the inverse H&S bottom pattern. A fresh r...Read More
By David Haggith It's downright wintry on Wall Street right now. Firmly establishing the worst start of a December for the US stock market in 38 years, all three major stock indices plumbed the greatest depths they have hit all year ... and it's been a bad year! The S&P 500 and the Nasdaq closed at 2,546 and 6,754 respectively. The Dow closed down 504 points to rest at 23,593. If it closes the...Read More
Dear Friend of GATA and Gold:Are gold and silver mining companies joining the class-action lawsuits being filed against investment bank JPMorganChase because of the confession by a former futures trader for the bank who has pleaded guilty to manipulating the monetary metals markets?:https://www.cnbc.com/2018/12/13/jp-morgan-faces-lawsuits-after-guilty-pl...While gold and silver mining investors...Read More
By Steve St. AngeloInvestors will be surprised to know the main factor that drives the gold price. And no, it isn't the oil price or market. While the oil price has been a good indicator for the gold price over the past 50+ years, it hasn't done much over the shorter term. However, there is a gold market demand factor that seems to move the gold price more than any other indicator.In my ne...Read More
By Keith WeinerFor the first time since we began publishing this Report, it is a day late. We apologize. Keith has just returned Saturday from two months on the road.Unlike the rest of the world, we define inflation as monetary counterfeiting. We do not put the emphasis on quantity (and the dollar is not money, it's a currency). We focus on the quality. An awful lot of our monetary counterfeitin...Read More
Although I've projected a further 3.3% drop in the E-Mini S&Ps over the near-term, we should remain open to the possibility of a stock-market reversal on Tuesday that would kick off the increasingly prayed-for Santa rally/dead-cat bounce. The chart shows what would need to happen to trip the bullish signal. Specifically, the March contract would need to push above the small peak at 2616.75 tha...Read More
CloseGain/LossGold $1249.30+$3.00Silver$14.64-$0.03XAU70.61+2.05%HUI160.34+2.31%GDM583.74+2.24%JSE Gold1328.43+26.18USD97.06-0.08Euro113.64+0.17Yen89.18+0.64Oil$46.24-$3.6410-Year2.823%-0.035T-Bond144.4375+0.65625Dow23675.64+0.35%Nasdaq6783.91+0.45%S&P2546.16+0.01% The Metals: Gold erased early Asian gains and dipped to $1245.10 at about 2AM EST before it rallied up to $1...Read More
The Chinese and JP Morgan are at it again by gobbling up all available physical silver. Here's Harvey with an explanation...by Harvey Organ of Harvey Organ BlogDEC 17/DOW DROPS ANOTHER 500 POINTS WITH THE NASDAQ DOWN 156 POINTS/GOLD RISES BY $10.60 TO $1248.00/SILVER UP ANOTHER 13 CENTS/CHINA REPORTS UGLY NUMBERS FROM RETAILS SALES AND INDUSTRIAL PRODUCTION/TURMOIL IN FRANCE, BELGIUM, THE NETHERLA...Read More
Peter KrauthThe price of silver managed to hold onto recent gains this week, despite renewed dollar strength.Volatility has been soaring as the market's been thrashing around, with the S&P 500 down another 5% in the last five trading days.We also know from the latest Commitment of Traders reports that money managers have been covering their short silver futures positions, especially in the wak...Read More
The 2019 exploration drilling plan for the Wheler River uranium project. (Image: Denison Mines Corp.)SASKATCHEWAN -Denison Mines Corp. and its partners in the Wheeler River uranium joint venture have agreed to spend $10.3 million to advance the project next year. A major undertaking will be to initiate the environmental assessment and engineering studies.The target of this activity will be the Pho...Read More
A map of Skyharbour's uranium projects in the Athabasca Basin. (Image: Skyharbour Resources)SASKATCHEWAN - Fifteen kilometres from the rapidly advancing Wheeler River project, Vancouver's Skyharbour Resources is finding high grades at the Moore uranium project.Drill hole ML18-14 intersected high grade uranium mineralization within the Main Maverick zone consisting of 3.11% uranium oxide over 1.8 m...Read More
AUSTRALIA - BHP Group has commissioned the new ramp at its Olympic Dam iron ore-copper-gold mine, and it doubles the haulage capacity for its trucks. The Kalta decline is key to reaching the Southern mine area where BHP is mining high grade copper resources.BHP spent A$250 million to develop the Southern mine area, and another $40 million on the ramp. The first ore from the area was produced in mi...Read More
RAPAPORT... Belgium's polished trade dropped in November, according todata from the Antwerp World Diamond Centre. Exports fell 11% amid a loweraverage price, with volumes down 1%. Rough shipments also declined. However,polished trading is up for the year to date, with rough mostly flat. Millions unless stated otherwiseRead More
RAPAPORT... De Beers sold $540 million of rough diamonds in its Decembercycle, buoyed by the return of Indian manufacturers from their seasonal holidayshutdown, the company said Tuesday. Revenue from the 10th cycle, including last week's sight inBotswana, jumped 22% from $442 million during the previous cycle. Proceedsclimbed 19% versus a year ago. Sales "continued to be in line with expectations...Read More
RAPAPORT... The Indian trade fell by most key measures in November,according to data from the Gem & Jewellery Export Promotion Council(GJEPC). Polished exports slid to their lowest level since December 2016, when demand dropped in the aftermath ofIndia's banknote demonetization, while rough shipments alsodropped significantly. The year-on-year slumps come amid weaker demand forsmaller goo...Read More
RAPAPORT... This was the year in which synthetic diamonds wentmainstream. De Beers launched its Lightbox brand, the US Federal TradeCommission (FTC) relaxed its rules for describing lab-grown diamonds, andthe likes of Macy's and JCPenney started stocking synthetics for theholiday. Two of those three stories feature in the top 10 most-read articles onDiamonds.net this year.Martin Rapaport's takes o...Read More
(IDEX Online) - Russian diamond miner ALROSA reported that global jewelry sales rose 4% overall in the third quarter of 2018. North America, the largest diamond jewelry market, showed a 4% sales increase in Q3 compared to the same period last year. "According to key retailers, stable growth was driven by increased demand from the local population," the firm said. "In the Asia Pacific...Read More
(IDEX Online) - De Beers sold rough diamonds with a provisional value of $540 million in the 10th sales cycle (Global Sightholder Sales and Auction Sales) of 2018. The miner's two previous sales had both been below $500 million. The miner reported confirmed sales of $442 million in the ninth cycle, compared with an initial provisional figure of $440 million. Bruce Cleaver...Read More