KINSHASA, Congo (AP) - More than 50 people are dead after landslides caused the collapse of three artisanal gold mines near the city of Kamituga in eastern Congo's South Kivu province on Friday, officials said.Read full newsRead More
At least 50 people are thought to have died when an artisanal gold mine collapsed near Kamituga in the east of the Democratic Republic of Congo on Friday afternoon, a local mining NGO said.Read full newsRead More
While the markets have moved higher this week, there is a lot of uncertainty surrounding investors. The V-shaped recovery since March has surprised Bay Street experts who think the market is not in sync with the economy, as Canada’s unemployment rates continue to remain high amid sluggish consumer demand.Warren Buffett-owned Berkshire Hathaway recently published its 13F filings, and it was q...Read More
The COVID-19 pandemic has taken a terrible toll. In many countries, cases continue to rise. Everyone, including the stock market, is hoping for a quick vaccine — our best chance at a return to normalcy.But the future is still uncertain. A vaccine may not arrive for years. If one is discovered this week, it could take many months to secure approvals, scale manufacturing capabilities, and dist...Read More
We have to keep our eyes on the biggereconomic cycle. It helps in maintaining a proper perspective, and putting moreemphasis on the bigger prize rather than the day to day movements.The historical relationship between silverand the stock market provides great insight as to where we are currently inthis cycle. Traditionally, the best part of silver rallies come after asignificant Dow peak.From prev...Read More
The U.S. stock market plunged last week. Will gold follow suit?Last week, the U.S. stock market has seen strong selling activity. The S&P 500 Index has declined about 7 percent from its peak, while the Nasdaq Composite Index plunged more than 10 percent (entering a correction territory), below 11,000, as the chart below shows. It was the tech sector’s worst drop since the end of March, i...Read More
Inmid-march, just as the coronavirus was gaining momentum, the price of goldbegan to rise. After trading sidewaysfrom 2015 to 2019, gold rose from a low of $1,471 in mid-March to $2,069 onAugust 6th, a spectacular 40% rise in five months.Duringthat same period, silver rose from $11.94 to $29.14 on August 6th,an even more spectacular 114% increase. Threedays later, on August 9th, as gold and...Read More
RAPAPORT... The VicenzaOro International Community Event (VOICE) takes place in Italy this week under strict health guidelines, with organizers expecting more than 370 exhibitors to attend despite the pandemic.The fair began Saturday and runs through Monday under strict health guidelines, the Italian Exhibition Group (IEG) said last week. The show will be one of the few to occur in physical f...Read More
RAPAPORT... Nonprofit group Gem Legacy will launch an auction of donated jewelry and loose gems to celebrate its second anniversary, with the proceeds going to fund new tool kits for artisanal miners in Africa."Tools are absolutely essential to small gem miners' success," Rachel Dery, director of communications and outreach for Gem Legacy, said last week. "The tool kit will provide them with more...Read More
RAPAPORT... HB Antwerp has acquired the manufacturing facility of AMC Diamonds, a Belgian large-stone specialist and De Beers sightholder, bringing with it 13 employees as well as the company's machinery and technology."With this acquisition, HB Antwerp confirms its ambition to bring the diamond-polishing process back to Antwerp in its entirety by combining the typical Antwerp savoir faire wi...Read More
RAPAPORT... Rough-diamond sales began to rebound at De Beers' August sight as demand picked up ahead of the holiday season and governments reduced Covid-19 restrictions."Diamond markets showed some continued improvement throughout August and September as Covid-19 restrictions continued to ease in various locations, and manufacturers focused on meeting retail demand for polished diamonds, part...Read More
(IDEX Online) - Police in Angola have seized a 147-carat diamond as part of Operation Transparency, its long-running crackdown on illicit diamond trafficking and illegal immigration.An Angolan citizen and a foreign national were detained in the eastern Lunda Norte province, according to the country's official news agency Angola Press. No further details about the stone were disclosed.Security...Read More
(IDEX Online) - Sotheby's is to auction an extremely rare 102.39-carat D color, Type IIa, flawless oval diamond. It will be sold in a live online auction, with, unusually, no reserve price. There is speculation that the gem (pictured), described as "the size of a lollipop" could break the record for an online diamond auction, and fetch up to $30m, though Sotheby's would not be dra...Read More
(IDEX Online) - De Beers announced a provisional $320m of rough sales at last month's Sight 7, the highest figure since the pandemic struck.It's almost three times more than the previous Sight ($116m) and slightly up on last year's August Sight ($287m).It results were in line with the miner's biggest rival, Alrosa, which last week revealed a similar recovery. Combin...Read More
RAPAPORT... Nonprofit group Gem Legacy will launch an auction of donated jewelry and loose gems to celebrate its second anniversary, with the proceeds going to fund new tool kits for artisanal miners in Africa."Tools are absolutely essential to small gem miners' success," Rachel Dery, director of communications and outreach for Gem Legacy, said last week. "The tool kit will provide them with more...Read More
We have to keep our eyes on the biggereconomic cycle. It helps in maintaining a proper perspective, and putting moreemphasis on the bigger prize rather than the day to day movements.The historical relationship between silverand the stock market provides great insight as to where we are currently inthis cycle. Traditionally, the best part of silver rallies come after asignificant Dow peak.From prev...Read More
The U.S. stock market plunged last week. Will gold follow suit?Last week, the U.S. stock market has seen strong selling activity. The S&P 500 Index has declined about 7 percent from its peak, while the Nasdaq Composite Index plunged more than 10 percent (entering a correction territory), below 11,000, as the chart below shows. It was the tech sector’s worst drop since the end of March, i...Read More
Inmid-march, just as the coronavirus was gaining momentum, the price of goldbegan to rise. After trading sidewaysfrom 2015 to 2019, gold rose from a low of $1,471 in mid-March to $2,069 onAugust 6th, a spectacular 40% rise in five months.Duringthat same period, silver rose from $11.94 to $29.14 on August 6th,an even more spectacular 114% increase. Threedays later, on August 9th, as gold and...Read More
We have to keep our eyes on the biggereconomic cycle. It helps in maintaining a proper perspective, and putting moreemphasis on the bigger prize rather than the day to day movements.The historical relationship between silverand the stock market provides great insight as to where we are currently inthis cycle. Traditionally, the best part of silver rallies come after asignificant Dow peak.From prev...Read More
The U.S. stock market plunged last week. Will gold follow suit?Last week, the U.S. stock market has seen strong selling activity. The S&P 500 Index has declined about 7 percent from its peak, while the Nasdaq Composite Index plunged more than 10 percent (entering a correction territory), below 11,000, as the chart below shows. It was the tech sector’s worst drop since the end of March, i...Read More