"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." Alan Greenspan, American economist, Former Chair of the Federal Reserve 1987-2006, firm Greenspan Associates LLC; b. 1926 "Gold is a currency. It is still, by all evidence, a premier currency, where no fiat currency, including the dollar, can match it...Read More
By Clint SiegnerLondon Bullion Market Association (LBMA) officials have loudly proclaimed there are plenty of gold bars in LBMA and COMEX vaults to meet surging demand from buyers.Unfortunately for them, confidence is particularly fragile these days and cracks are starting to appear. Which is why anxious officials there issued not one, but two memos last week in an attempt to reassure traders.I...Read More
Strengths? ? The best performing precious metal for the week was gold, off only 0.45 percent. The yellow metal is continuing its strong showing. Gold futures had its sixth straight quarterly gain in the first three months of this year - the longest stretch of gains since 2011. Bullion rose 4.8 percent in the first quarter. Last week, the gold market was thrown into turmoil as logis...Read More
The stock market wafted last week into a psychologically surreal zone somewhere between terror and, if not greed, then at least jittery optimism. How can stocks rally at all when no one can predict whether the deadly spread of coronoavirus is about to overwhelm America as it did Italy? The economic picture remains just as murky, since odds the global economy will fall into a full-blown depressio...Read More
The recent range trade in gold and silver will be broken soon and a new range will be formed. Physical gold supplies are expected to rise with Swiss gold refiners opening. I am doubtful whether they will be able to meet the current demand. Gold mines supplies are less. Russia has said that it's central bank will not buying gold at the moment. Russia will sell it mined gold in the market. Russia'...Read More
Outcrop Gold is wholly focused on its Colombia properties that have a long history of high-grade production. Outcrop Gold's Colombia ProjectsOutcrop Gold Corp.'s (OCG:TSX.V; MRDDF:OTCPK; MRG1:FSE) coffers and profile received a boost in February when veteran investor Eric Sprott took a $1 million stake in the company. Outcrop, a prospect generator that is also conducting in-depth exploration, hol...Read More
Southern Silver Exploration Corp. has agreed to purchase the El Sol mineral claim in Durango for US$300,000. In a news release, Southern Silver Exploration Corp. (SSV:TSX.V; SSVFF:OTCQB; SEG1:FSE) announced that "it has entered into an agreement with Monarca Minerals Inc. (MMN:TSX.V) to purchase the El Sol mineral claim in Durango, Mexico."The company advised that the claim is situated contiguous...Read More
With his portfolio "solidly anchored" in silver and gold, sector expert Michael Ballanger opines on how bankers and politicians can manipulate markets. As a child, I used to get quite excited at the prospect of having my English "Gran" read me the Hans Christian Andersen book "The Emperor's New Clothes." I found the tale fiendishly amusing, as the charlatan tailor uses lethal doses of flattery an...Read More
Gold miners’ stocks haveendured epic volatility in this past month, literally crashing before blasting backhigher in a violent V-bounce. That precedingwicked capitulation flush savagely forced the weak hands out, paving the wayfor gold stocks’ next major upleg. The resultingfierce rebound signals it is already underway, with plenty of speculators andinvestors now chasing th...Read More
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." Alan Greenspan, American economist, Former Chair of the Federal Reserve 1987-2006, firm Greenspan Associates LLC; b. 1926 "Gold is a currency. It is still, by all evidence, a premier currency, where no fiat currency, including the dollar, can match it...Read More
By Clint SiegnerLondon Bullion Market Association (LBMA) officials have loudly proclaimed there are plenty of gold bars in LBMA and COMEX vaults to meet surging demand from buyers.Unfortunately for them, confidence is particularly fragile these days and cracks are starting to appear. Which is why anxious officials there issued not one, but two memos last week in an attempt to reassure traders.I...Read More
Strengths? ? The best performing precious metal for the week was gold, off only 0.45 percent. The yellow metal is continuing its strong showing. Gold futures had its sixth straight quarterly gain in the first three months of this year - the longest stretch of gains since 2011. Bullion rose 4.8 percent in the first quarter. Last week, the gold market was thrown into turmoil as logis...Read More
The stock market wafted last week into a psychologically surreal zone somewhere between terror and, if not greed, then at least jittery optimism. How can stocks rally at all when no one can predict whether the deadly spread of coronoavirus is about to overwhelm America as it did Italy? The economic picture remains just as murky, since odds the global economy will fall into a full-blown depressio...Read More
The recent range trade in gold and silver will be broken soon and a new range will be formed. Physical gold supplies are expected to rise with Swiss gold refiners opening. I am doubtful whether they will be able to meet the current demand. Gold mines supplies are less. Russia has said that it's central bank will not buying gold at the moment. Russia will sell it mined gold in the market. Russia'...Read More
RAPAPORT... De Beers is using its mining sites in Botswana and its technology production center in the UK to help the fight against COVID-19.Debswana, the company's joint venture with Botswana, is making facilities available for the government to use as treatment or isolation centers, parent company Anglo American said Monday. It's offering two of its ambulances, and compiling databases of re...Read More
RAPAPORT... Mining at Rio Tinto's Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic.The company has received full approval from the Western Australian state government to continue its production operations prior to the mine's expected end of life later this year, it told Rapaport News Monday. Operations are also in full swing at Diavik, the C...Read More
RAPAPORT... The World Federation of Diamond Bourses (WFDB) has adopted Get Diamonds as its official trading platform, the organization's president Ernie Blom told Rapaport News. The WFDB's executive committee agreed in a Zoom meeting on Sunday night to support the platform, which until now has been run by the Israel Diamond Exchange (IDE). That includes funding its development and preparing a...Read More
(IDEX Online) - Billionaire British jeweler Laurence Graff has launched a perfume range inspired by his 302.37-carat emerald-cut Lesedi La Rona diamond.A collection of six fragrances are being sold in bottles shaped like the iconic stone at $340 for 100ml.Mr Graff, 81, paid $53m in 2017 for a rough 1,109-carat stone discovered by Lucara at their Karowe Mine, in Botswana. It was the world'...Read More
RAPAPORT... Gem Diamonds' average selling price fell 6% to $1,615 per carat in the first quarter compared with the previous three months, the company said Monday.The miner brought in $6.7 million from its second flexible tender of large, high-quality rough from the Let??eng mine in Lesotho. The first flexible tender yielded $12 million. The company also sold $7.8 million during the quarter at...Read More
(IDEX Online) - Anglo American, parent company of De Beers, has detailed a wide-ranging package of health and social care measures for its 90,000 employees worldwide during the coronavirus crisis. It includes paying all its 47,000 employees in South Africa, during the current 21-day lockdown, and making its hospital and other healthcare facilities available to Covid-19 patients. The company is als...Read More