Peter Krauth outlines the reasons he believes the price of silver will continue to rise. They say patience is a virtue.Well, if anyone is virtuous these days, it has to be silver bulls.They also say good things come to those who wait. I believe those good things will be coming…in spades.Silver reached just shy of $50 back in April 2011. A decade later, we're still just barely above half tha...Read More
The latest FOMC statement and economic projections signal are that the interest rates will stay at zero until the end of 2023. This is excellent for gold. Yesterday, the Fed issued a statement regarding the FOMC meeting, which was held from September 15-16. The US central bank kept the interest rates and the conditions of its quantitative easing unchanged. The chart below shows the levels of effec...Read More
If the U.S. Government comes out with a new stimulus plan, then we are going to see higher silver and gold prices. However, if there isn't a new bill... by Steve St Angelo of SRSrocco ReportIn my newest update, I explain that the silver price trend for the next quarter will depend on what happens over the next 7-10 days. If the U.S. Government comes out with a new stimulus plan, then we are g...Read More
RAPAPORT... VicenzaOro staged the first major international jewelry trade fair since before Covid-19 amid strict safety measures, with buyers booking modest orders.Attendance was well below pre-pandemic levels due to the absence of participants from the Americas and Asia at the Italian show, which took place on September 12 to 14. However, the mood was upbeat, as visitors to both the physical...Read More
RAPAPORT... Gem Diamonds has recovered an additional two large, high-quality diamonds from its Let??eng mine in Lesotho.An "exceptional" quality, 166-carat, type II diamond was unearthed last week, the same day the company found a yellow diamond weighing 77 carats, the miner said Monday. The 166-carat stone is the 12th over 100 carats Gem Diamonds has recovered this year.Earlier this month the min...Read More
RAPAPORT... Charles & Colvard, the producer of synthetic-moissanite jewelry, has launched a line of bridal and fashion pieces featuring lab-grown diamonds."There is a growing awareness of and demand for lab-created gems," Don O'Connell, the company's CEO, said last week. "We believe this addition will allow us to tap into the estimated $5.2 billion lab-created diamond opportunity, thus ca...Read More
RAPAPORT... Alrosa has appointed Akil Zubir as managing director of its Belgium office, the miner said Thursday. He will succeed Sergey Panchekhin, who has worked for the company for more than 20 years and plans to retire in late October.Zubir, one of seven candidates, joined Alrosa in 2017 as head of its insurance department. During his tenure, the company settled a large insurance loss rela...Read More
(IDEX Online) - Jewelry professionals can now use their smartphone to take studio-quality photos and 360-degree videos of the items they're appraising.Instappraise, developers of cloud-based jewelry appraisal software is partnering with Picup Media, maker of the GemLightbox jewelry photography tool, to provide technology for appraisers to quickly and easily capture hi-res images to accompany...Read More
(IDEX Online) - Dominion Diamond Mines, which filed for insolvency in April, has sold its Ekati mine, in Canada after receiving a solitary bid.The buyers are part of The Washington Companies, a privately held conglomerate based in Montana, USA, that bought Dominion in 2017 for $1.2bn. Toronto-based Dominion, the world's third largest producer of rough diamonds by value, shut Ekati...Read More
RAPAPORT... Bonhams has promoted Leslie Roskind to lead its Hong Kong jewelry department, it said Monday.Roskind, who has been with Bonhams since April 2019, will oversee the procuring and selling of jewelry in the municipality, and will also liaise with the auction house's global jewelry team on various projects. "With her international expertise...we look forward to advancing our sourcing and bu...Read More
(IDEX Online) - Celebrity jeweler Joseph DuMouchelle, who twice auctioned the engagement ring given by Donald Trump to his second wife, has admitted masterminding a multi-million dollar gem fraud.He tricked a US businessman into investing $12m into a 77-carat diamond known as The Yellow Rose in 2019. DuMouchelle admitted via a videolink to the federal court that he withdrew most of the money...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The JV, controlled by TSX-listed Ivanhoe Mines and China's Zijin Mining Group, will commit around US$100 million towards long-lead items for the plant, of which it estimated $25 million would be spentRead More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The companies said their Chilean affiliates had entered an 11-year power purchase agreement, effective September 1, to provide 100% renewable power to Carmen de Andacollo.Teck said the operation would source 72 Megawatts (550 GWh/year) from AES Gener's growing renewable portfolio of wind, solar and hydroelectri...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part little changed to firmer this morning, Monday September 21, with only December nickel in Shanghai showing a loss.But with Asian-Pacific equities and pre-market major western equity index futures weaker, the metals may face headwinds today.Dollar, US treasuries and gold all consolidating, waiti...Read More
American International Group (AIG), an S&P 100 stock moved below $27.67 setting an intermediate downtrend. Exelon (EXC), an S&P 100 stock moved below $34.15 setting an intermediate downtrend.Europe iShares (IEV) moved below $42.30 completing a double top pattern.Italy iShares (EWI) moved below $24.56 completing a double top patternAustralia iShares (EWA) moved below $19.69 completing a sho...Read More
PRIVATE BLOG - Gold for the Week of 9/21/2020Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
Gold-focused royalty and streaming company Maverix Metals (TSX: MME; NYSE-AM: MMX) has entered into a binding agreement with Newmont to acquire a portfolio of 11 gold royalties on preproduction assets in the Americas.In exchange for the portfolio, Maverix will issue 12 million common shares to Newmont (TSX: NGT; NYSE: NEM) and pay the major US$15 million in cash - the two components are valued at...Read More
Mountain Province Diamonds (TSX: MPVD; US-OTC: MPVD) held its first traditional diamond sale since the coronavirus pandemic began on Sept. 19 in Antwerp. And while the sales figures are modest, the resumption of diamond sales is a major positive development for the diamond sector, which has been largely shut down by Covid-19 travel restrictions, lower demand and low prices.Mountain Province, which...Read More
Wheaton Precious Metals (TSX: WPM; NYSE: WPM), one of the world's largest gold and silver streaming companies, plans to list on the London Stock Exchange (LSE) to boost exposure to European investors seeking precious metals deals.The Vancouver-based firm, which has a market capitalization of about $23 billion, is listed in Toronto and New York, where its shares have climbed about 75% this year.Whe...Read More
The S&P/TSX Composite Index fell 0.15% to 16,198.97 during the Sept. 14-18 trading week. The S&P/TSX Global Mining Index rose 0.52% to 101.18, and the S&P/TSX Global Base Metals Index climbed 4.60% to 111.15. Spot gold rose US$8.80 per oz., or 0.45%, to US$1,948.90 per oz., and the S&P/TSX Global Gold Index dropped by 1.14% to 376.32.MAG Silver rose $2.66 to $23.36 per share. The company announced...Read More