Precious metals markets got clobbered early this week as gold and silver broke down from their high-level consolidations. Strength in the U.S. Dollar Index seemed to be the catalyst that got the selling going.Once key technical levels got breached, the selling intensified.Gold prices fell below the $1,900 level on Wednesday. Meanwhile, silver plummeted below $24 an ounce and traded as low as $22 o...Read More
LONDON, 28 September 2020 - Comment from BullionVault features in today's 'big read' in the Financial Times, looking at how 2020's surge in gold investing demand has offset the collapse of consumer purchases amid the global virus pandemic."Asian buyers [tend to] put a floor under the market," the FT says, quoting Adrian Ash, director of research at BullionVault."But with demand being so abject in...Read More
Meet Leon and Peter Gianni - the modern dayRead full newsRead More
Tesla used its Battery Day event to announce it intends to use more US-sourced nickel in its cathode battery production and less cobalt.Read full newsRead More
Meet Leon and Peter Gianni - the modern dayRead full newsRead More
Magawa the African giant pouched rat has won a PDSA Gold Medal for his work detecting landmines.Read full newsRead More
First Majestic Silver (TSX:FR; NYSE: AG) says it is getting ready to appeal a Mexican court decision this week that revoked a key agreement determining how the silver producer was taxed in the country.The federal court's ruling, yet to be formally delivered to the Canadian miner's subsidiary, Primero Empresa Minera, cancels an Advanced Pricing Agreement (APA) governing the tax on silver sales betw...Read More
Covid-19 has affected the mining industry in unprecedented ways, ranging from forced mine shutdowns in some cases to profound fluctuations in supply and demand for various commodities. As the economy begins to reopen, preserving cash flow remains pertinent to the long-term health of mining companies, especially junior mining companies. Third-party litigation funding - that is, the financing of lit...Read More
For a moment, picture 2020 as any other year. Imagine there was no pandemic. Now go and take a look at the S&P/TSX Composite Index. In the absence of a public health disaster, the performance of some of Canada’s best blue-chip stocks would look disastrous. The harsh reality is that this situation could last longer than anticipated, with the prospect of a fully reopened economy receding a...Read More
When the markets go south, one place investors often turn to for safety is gold. The price of gold has been soaring over the past year, rising around 30%, and it hit a high of more than US$2,000/oz in August. However, thus far, the markets have been going in the same direction as gold. Since March 11, when the World Health Organization declared COVID-19 a global pandemic, the Dow Jones is up aroun...Read More
China has been buying a lot of U.S. crude oil lately, perhaps in a belated attempt to fulfill some of the energy import quotas agreed with Washington last year or perhaps in a bid to take advantage of supercheap U.S. crude. But the buying spree is about to end.This month alone, China could import between 867,000 bpd, according to Reuters' Refinitiv data, and 900,000 bpd, according to oilfield serv...Read More
RESEARCH HIGHLIGHTS:Gold rebounded quickly and broke to higher prices after the COVID deep selling. Our Fibonacci support levels for Gold are resting near $1,885, $1,815 & $1,790.More downside pressure on price is possible, but if support is maintained at $1,885 then we could see a big upside recovery trend take Gold to $2,250.Just before the COVID-19 collapse in the markets hit near February...Read More
Mining production? No. China’s consumer demand? No. The main drivers of gold prices are, as I’ve repeated many times, the U.S. dollar and real interest rates. You don’t believe it? You don’t have to – just look at the charts below. The first one displays the greenback and the dollar-denominated price of gold. Because other series start much later, I used here the Trad...Read More
(IDEX Online) - The last sale of pink diamonds before the iconic Argyle mine closes will have a Japanese theme.The invitation-only tender will take its inspiration from Ichi-go ichi-e - Japan's cultural concept of treasuring the unrepeatable nature of a moment.The mine in the remote East Kimberley region Western Australia has been the source of 90 per cent of the world's pink diamonds fo...Read More
(IDEX Online) - Consumers are more likely to buy jewelry in the next six months than at any other time during the pandemic, says De Beers.Its monthly research into diamond spending during the COVID-19 crisis reveals what it calls a "glimmer of optimism".Both men and women are more likely to purchase or receive diamond jewelry in the next six months, compared to previous coronavirus waves. Wo...Read More
Bob Moriarty of 321gold presents his investment thesis on Cabral Gold, which is exploring its Cuiu?? Cuiu?? gold project in Brazil. Cabral Cuiu-Cuiu projectBack in July I wrote a short piece about Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS). Shares were $0.155 apiece then, now up 300% even within a two-month correction. After last week's announcement it should be obvious to investors just why.Ove...Read More
China has been buying a lot of U.S. crude oil lately, perhaps in a belated attempt to fulfill some of the energy import quotas agreed with Washington last year or perhaps in a bid to take advantage of supercheap U.S. crude. But the buying spree is about to end.This month alone, China could import between 867,000 bpd, according to Reuters' Refinitiv data, and 900,000 bpd, according to oilfield serv...Read More
RESEARCH HIGHLIGHTS:Gold rebounded quickly and broke to higher prices after the COVID deep selling. Our Fibonacci support levels for Gold are resting near $1,885, $1,815 & $1,790.More downside pressure on price is possible, but if support is maintained at $1,885 then we could see a big upside recovery trend take Gold to $2,250.Just before the COVID-19 collapse in the markets hit near February...Read More
Mining production? No. China’s consumer demand? No. The main drivers of gold prices are, as I’ve repeated many times, the U.S. dollar and real interest rates. You don’t believe it? You don’t have to – just look at the charts below. The first one displays the greenback and the dollar-denominated price of gold. Because other series start much later, I used here the Trad...Read More
China has been buying a lot of U.S. crude oil lately, perhaps in a belated attempt to fulfill some of the energy import quotas agreed with Washington last year or perhaps in a bid to take advantage of supercheap U.S. crude. But the buying spree is about to end.This month alone, China could import between 867,000 bpd, according to Reuters' Refinitiv data, and 900,000 bpd, according to oilfield serv...Read More