The inflation remains low and below the Fed’s target. So, should gold bulls worry about it?The U.S. CPI inflation rate rose by 0.2 percent in September , following a 0.4 percent increase in August. It was the smallest jump since May. The move was driven by a 6.7- percent spike in the cost of used cars and trucks, and it’s the most significant upward change over half a century. The core...Read More
https://media.blubrry.com/silverdoctors/p/content.blubrry.com/silverdoctors/EVGreyerz-SD-Oct20-Audio.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSWe're not in the beginning of the end. We're in the end of the end. The global economic collapse is accelerating, and so is the destruction of...Egon von Greyerz of Matterhorn Asset Management (Gold...Read More
RAPAPORT... Swiss watch exports continued to decline in September, with China the only country to see an improvement.Total shipments fell 12% year on year to CHF 1.6 billion ($1.77 billion), the seventh consecutive monthly decrease. Although the decline was softer than in previous months, the market is still heavily reliant on Chinese orders, the Federation of the Swiss Watch Industry reported Tue...Read More
RAPAPORT... Patrick Merrin has stepped down as interim CEO of Dominion Diamond Mines, deeming it "appropriate" to focus on his position at the rough producer's parent company.Merrin, who is chief operating officer at the Washington Companies, took on the lead role at Dominion when Shane Durgin left in February. The miner's full executive team will run the company temporarily until a solution is fo...Read More
RAPAPORT... The Plumb Club, an alliance of jewelry suppliers, has launched a collaboration with New York's Fashion Institute of Technology (FIT) to help design students enter the industry.The project connects students in FIT's jewelry-design program with Plumb Club members, offering them mentoring, internships and exposure to potential employers, the trade organization said Monday. Students w...Read More
RAPAPORT... Petra Diamonds has called off its formal sales process, as its lenders have acquired majority ownership in the company in exchange for writing off sizeable debts.The groups reached the agreement following discussions on a long-term restructuring plan for the company that would allow it to pay back the $650 million in secured debt it currently owes, Petra said Tuesday. The miner had bee...Read More
RAPAPORT... WD Lab Grown Diamonds has hired heads of marketing, merchandise and operations as the US-based producer expands under private-equity ownership.Brittany Lewis joined WD earlier this year to lead marketing and merchandising, the company said last week. Her background is in branding, marketing and digital transformation for startups.Meanwhile, Caleb Wood has come on board as chief op...Read More
(IDEX Online) - India's recovering diamond industry is reportedly running short of rough, as coronavirus restricts air travel.Demand is growing but after three voluntary trade embargoes at the peak of the pandemic, the country's collective $2.7bn inventory is "almost exhausted".Small and medium diamantaires in India can't get to South Africa or Belgium to physically inspect rough di...Read More
RAPAPORT... The coronavirus crisis has split US jewelers into haves and have nots, Jewelers Board of Trade (JBT) president Erich Jacobs told the Rapaport Diamond Podcast.Digital-savvy businesses have thrived while less advanced competitors - or those exposed to the tourist industry - have fallen by the wayside, he noted. This has led to many jewelry companies losing their strong credit rating...Read More
(IDEX Online) - Troubled Petra Diamonds has agreed a debt-for-equity restructuring deal with lenders, after failing to attract any buyers.The UK-listed miner, founded by Adonis Pouroulis in 1997, was facing $650m of debts in senior secured bonds and launched a formal sales process in June to sell the company either as a whole.Today Petra Diamonds Limited (PDL) announced a deal whereby debtholders...Read More
(IDEX Online) - Botswana, the world's top diamond-producing country by value, has officially entered recession as it battles coronavirus.One of the biggest factors was the Q2 collapse of diamond mining. Production in carats fell by 67 percent according the latest report by the government's Statistics Botswana.The country's real GDP for April to June plunged 24 per cent as the global...Read More
Magna International (MG), a TSX 60 stock moved above $71.00 extending an intermediate uptrend. Pre-opening Comments for Tuesday October 20thU.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures responded to renewed hopes for a fiscal stimulus package.Index futures were virtually unchanged following release of September U...Read More
CEO to discuss the Company's recent acquisition and latest exploration project located in a premier and growing gold district in Idaho, the Challis Gold ProjectELKO, Nev., Oct. 20, 2020 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the "Company"), a gold exploration and development company, today announced that its Chief Executive Officer, Mr. Edward Karr is scheduled to present and conduct one...Read More
Shares in Petra Diamonds (LSE: PDL) nosedived after it said it had abandoned plans to sell the company or parts of its business, opting instead for a debt-for-equity restructuring.The struggling South African miner, with operations in its home country and Tanzania, said it had received no viable offers since June, when it put up the "for sale" sign.Petra, which piled up debt to expand its flagship...Read More
Talisker Resources (TSX: TSK; US-OTC: TSKFF) has expanded the drill program at its past-producing Bralorne gold project, 248 km northeast of Vancouver, B.C., for the second time this year, based on encouraging results.The junior has added 5,000 metres to its planned drill campaign for a total of 23,000 metres, up from 11,200 metres initially, and is now adding two drill rigs to the project for a t...Read More
The copper price was trading at its highest since June 2018 on hopes of a U.S. stimulus package, worries about supply from top producer Chile, and robust Chinese economic growth.On the Comex market, copper for delivery in December jumped 2.7% to US$3.1705 per lb. (US$6,990 per tonne) in brisk trade, with more than 1.8 billion lb. of the most active contract traded by 1 pm in New York.The bellwethe...Read More
In this week's episode we take a closer look at the state of technical reporting with SRK's Mark Noppe, Corporate Consultant and Managing Director Australia, and John Pfahl, Principal Consultant (Corporate Advisory) North America. In this wide-ranging interview Mark and John discuss the evolution of technical reporting, the aspirational nature of forward-looking statements, and how investors, regu...Read More
The most recent drill results from the AGB zone within Benchmark Metals' (TSXV: BNCH; US-OTC: CYRTF) Lawyers project in British Columbia hit broad and high-grade intervals of near-surface gold-silver mineralization.The drilling has expanded the AGB zone to the west, to over 600 metres of strike, and from surface to a vertical depth of over 270 metres. The drill holes, announced in a news release,...Read More
Mining giant BHP (NYSE: BHP; LSE: BHP) has shelved a planned US$2.5 billion expansion of its Olympic Dam copper, gold and uranium mine in South Australia, after studies of the ore body revealed weaker than expected results.While the mine yielded more than 50,000 tonnes copper in the three months to Sept. 30, which was the highest quarterly production since 2015, BHP decided against proceeding with...Read More
Daily Reckoning Australia editor, Shae Russell interviews author and economic expert Nomi Prins about the impact of central bank monetary policy on the financial economy and global markets. Most of the money the US Federal Reserve creates does not go to real people but to increased debt of corporations and financial markets. As a result, the Fed is creating distortion and disconnect between the fi...Read More