In late May I told you that "the gold price is likely to take a small breather to close out May but I expect increased volatility in June/July that could lead to a serious run at $1,800.""The mirage of central bank-induced financial stability will not end well. There will be more cracks in the already compromised foundation of the financial structure. Cracks that the Fed believes can be cured with...Read More
The odds of a significant market correction between now and November are rising. That is, unless, D.C. agrees to dig a much bigger fiscal hole to stick its head into. Of course, we are still Continue...Read More
CALGARY - Despite negative impacts of the COVID-19 pandemic on production and costs, rising prices for gold are expected to buoy results as Canada's precious metals miners begin rolling out second-quarter financial results next week. In the three months ended June 30, the average gold price was US$1,713 per ounce, up eight per cent over the first quarter, said RBC Capital Markets in a report t...Read More
ABUJA, Nigeria President Muhammadu Buhari said Thursday that the government is set to reform gold mining that will produce a revenue of $500 millionRead full newsRead More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index moved up 14.23 points or 1.4% to close at 986.10, making for a nice 3% gain over the past two weeks.MACD jumped 0.7 points higher to 1.70. RSI edged 1.64 to 62.70. RSI briefly made a multi-week high at 65.7 and has broken free from a trading range it was locked within...Read More
ASABA - Urhobo Youth Leaders Association (UYLA) has tasked the Federal Government on the need to address the over 50 years of social-economic neglect of the Urhobo nation, threatening to shut down all oil and gas installations and production in UrhoRead full newsRead More
Barrick Gold Corp said on Thursday it expected a 15% decline in second-quarter gold production due to coronavirus-induced disruptions at an Argentinian mine and a dispute in Papua New Guinea.Read full newsRead More
Crude steel output in Italy decreased by 7.88% year on year in June due to the decrease in steel demand amid the effects of the Covid-19 lockdown measures, Italian steel association Federacciai said on Friday July 17.The county's crude steel production totaled 1.92 million tonnes in June 2020, down from 2.08 million tonnes in the same months of 2019.The June decrease, however, was less then the re...Read More
A summary of Rio Tinto's second-quarter iron ore production report released on Friday July 17.In brief Output from Pilbara operations in Western Australia increased by 4% year on year and by 7% quarter on quarter.Shipments from the Pilbara rose by 1% year on year and by 19% quarter on quarter despite operational controls made in...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices hold, pipe buying stalls Seamless prices remained broadly stable in much of the world this month - with the notable exception of falling Japan fob prices, because oil and gas producers have been less inclined to fight for premium products as they cut their capital expenditure - but this was not the result of a balance...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:Upward momentum in US domestic sheet steel prices came to a halt in the second half of June, wiping out earlier gains. Although the prices of hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased on a monthly average basis, the d...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prolonged flooding in China could limit the use of construction steel and drag down demand for steel rebar in the short term, which in turn could damp the demand for iron ore. So far, it has been reported that steel mills in the affected regions have continued to operate as normal. The floods have, however, caused a few days...Read More
San Cristobal operation. (Image courtesy of Minera San Cristobal). Japan's Sumitomo Corp. scored a legal victory in Bolivia after the country's top court ruled in favour of the company's wholly-owned subsidiary, Minera San Crist??bal, in a two-year-long labour dispute.This week, Bolivia's Plurinational Constitutional Court ruled that due process was violated when, back in August 2019, an arbitrat...Read More
Spence copper mine located in the Atacama Desert, in northern Chile. (Image courtesy of BHP). BHP (ASX, LON: BHP) is working towards massifying its C-19 Tracer app within Chile's mining industry.According to local media, the world's largest miner has proposed the idea to the Ministry of Science and to other miners operating in the South American country. C-19 Tracer is a mobile application that...Read More
Thomas Albrecht-Schmitt, lead author of the study. (Image courtesy of Florida State University). Researchers have demonstrated that curium can be manipulated to a degree where it may pave the way for new strategies to recycle nuclear fuel and improve the long-term storage of radioactive elements.Curium is element 96 in the periodic table, one of the heaviest known to date and also one of the last...Read More
Get ready. The world is just beginning to learn about silver... by Steve St Angelo of SRSrocco ReportGet ready. The world is just beginning to learn about silver. With so very little physical bullion silver stocks in the world, when investors finally get "Precious Metals Religion," who knows how crazy the price can go. This isn't hype... just plain old fashion common sense, logic, and funda...Read More
RAPAPORT... Australian jeweler Michael Hill reported a sharp drop in revenue during the fourth quarter, as the coronavirus pandemic forced it to shut down most of its stores.Group sales slumped 61% to AUD 133.1 million ($93.1 million) during the three months that ended June 30, with drops across all markets, the company said last week. Same store sales - at branches open more than a year - fe...Read More
RAPAPORT... Diamond production at Rio Tinto dropped 7% year on year in the first half of 2020 as the miner recovered lower-grade ore at its Diavik mine in Canada.The company's share of production at the Argyle and Diavik mines came to 7.7 million carats for the six months ending June 30, it said last week. Diavik yielded 1.8 million carats for the company, a 17% decrease compared to the same...Read More
RAPAPORT... De Beers has invested in jewelry company Gemist, which enables customers to create customized jewelry online and try it at home prior to purchasing.Shoppers can choose from a variety of stones, metal and settings to create a piece, then use the company's "try-and-buy" system that provides them with a no-cost replica of the jewelry. If they decide they like it once they've tried it...Read More