Inflationremains low, while Powell signals dovish Fed for years. Good for gold. The US CPI inflation ratedeclined 0.1 percent in May, following a0.8 percent drop in April. The decrease was mainly driven by decreases in energy,transportation and apparel prices. The core CPI also declined 0.1 percent, following a 0.4percent drop in April. It was the third consecutive monthly decline, whichhappened f...Read More
Dear Friend of GATA and Gold:In a discussion with your secretary/treasurer this week, London metals trader and Kinesis Money founder Andrew Maguire says longtime metals bank Scotiabank is not only closing its metals trading desk but getting out of the vaulting business and all involvement with gold. Maguire says Scotiabank's withdrawal is a "forced regulatory decision," puts in doubt the resolut...Read More
By: Gary SavageSPX short-term cycles, a head and tops topping pattern?Read More
David Haggith "Jerome Powell burst the stock market bubble by publicly acknowledging there will not likely be a "V"-shaped economic recovery. He indicated that it will take years for the economy to return to the recent levels ... we experienced just a mere four months ago. Seeking AlphaThat was actually the point of my recent article that unfortunately became, in the comments, all about my disc...Read More
By: Ira EpsteinGold is stuck in the middle of this dead zone. What is needed to get out of the range?Read More
Sentiment improving as US retail shows signs of recovery with May sales +18% from previous month. Dealers and jewelers anticipating rise in bridal demand. Geopolitical tensions and Covid-19 outbreak in Beijing fueling caution about China. Rough producers see interest in large, investment-grade diamonds; D-IF prices firming in smaller-size polished (0.50 to 2 ct.). Surat factories operating at very...Read More
RAPAPORT... The Jewelers Vigilance Committee (JVC) has published a book containing advice on how to interpret the US Federal Trade Commission (FTC) jewelry guidelines.Understanding the FTC Guidelines deciphers the complex rules governing the manufacture, sale, and advertising of jewelry, explaining clearly how to word online and print promotions, the JVC said Wednesday. The book is the result...Read More
RAPAPORT... Dear fellow human beings,A lot of you feel strongly about the recent events in the US, as the protests following George Floyd's death have raised much deeper issues of inherent racism, and people of all races have started to speak out in support of the Black Lives Matter movement. As a Black woman, it was a particularly tough week for me. I am an ethical fine jeweler, using Fairtr...Read More
RAPAPORT... Grib Diamonds noted a modest increase in rough prices versus pre-lockdown levels as demand returned following a two-month pause in sales.The Belgian company, which sells production from AGD Diamonds' Grib mine in Russia, brought in just over $20 million from Tuesday's sale of around 350,000 carats. In total, 90% of goods sold by value, Antony Dear, Grib's head of sales, reported W...Read More
(IDEX Online) - Consumers have been making more "meaningful" jewelry purchases during lockdown, according to research by De Beers.Spending more time with family, and less time commuting, has shifted the focus from towards pieces that represent feelings of love and connection, rather than fun or practicality.Almost half (45%) of those surveyed in the company's monthly "deep dive into diamond-s...Read More
RAPAPORT... Gem Diamonds reported a rise in the average selling price for the first half of 2020, noting that appetite for its goods had improved at a recent tender in Antwerp."The results of the latest tender for Let??eng's large diamonds are positive," Gem Diamonds CEO Clifford Elphick said Thursday. "With certain stones selling above their anticipated post-Covid-19 valuations, it is clear...Read More
(IDEX Online) - India's overall exports of gems and jewelry slumped by over 82 per cent in April and May as trade was devastated by COVID-19.Overseas sales amounted to just $568m, said the Gem and Jewellery Export Promotion Council (GJEPC), compared with $3.2bn for the same period in 2019.Exports of polished diamonds, mostly destined for the USA, were also well down, from $1.8bn to $389m."Exp...Read More
(IDEX Online) - The statue of De Beers founder Cecil Rhodes should be removed, says the Oxford college he attended.The governing body of Oriel College yesterday voted to launch an independent Commission of Inquiry, bowing to five years of pressure from students, which escalated in recent weeks in response the Black Lives Matter protests following the death of George Floyd in Minnesota, USA. T...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe plan is to abandon Nifty's troublesome underground sulphide operation and to scoop up the remaining 600,000t copper resource from an openpit operation.Read More
Rupert Resources on a Roll at IkkariSPONSOREDCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesPwC says sector volatility became more pronounced by the end of 2019, with coal and copper, key exports of Canada's westernmost province, fa...Read More
Markets were mixed again this morning, Thursday June 18; equity indices were weighing up the possible impact of second waves of Covid-19 against the supportive measures governments continue to provide and pledge. * Asian-Pacific equity markets were mainly weaker this morning, as were pre-market major western equity index futures; the exception was China’s CSI 300 Index. * Developing Asian cou...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus the June Philly Fed Index was -23.0 versus -43.1 in May. Actual was +27.5.Consensus for Weekly Jobless Claims was 1.3 million versus 1,566 last week. Actual was 1.508 million.The Bank of E...Read More
As the last day of the Canadian Mining Symposium (CMS) began on June 18, it was clear that the global community had embraced the online, virtual version of the annual event. Anthony Vaccaro, group publisher of The Northern Miner and head of global mining for Glacier Resource Innovation Group, said there had been considerable feedback, comments and questions posted by attendees since the CMS began....Read More
Vale (NYSE: VALE), the world's top producer of nickel and iron ore, is fine-tuning details to reopen its Voisey's Bay open pit nickel mine and concentrator in Canada, next month.Full capacity at the northern Labrador-based operation should be reached in August, the Brazilian mining giant said today.Vale initially placed Voisey's Bay mine on care and maintenance for four weeks as a precaution amid...Read More
Drilling at MacDonald Mines' (TSXV: BMK) wholly owned SPJ property, 20 km east of Sudbury, has extended the strike length of the high-grade New Zone-Villeneuve trend to over 225 metres and the structure remains open.The company released results for six drill holes completed over the winter and spring. Highlights include 5 metres of 27.2 grams gold per tonne in hole 20-041 as well as 6 metres of 2....Read More