By Clint SiegnerNervous investors have been pouring into the gold and silver markets over the past two months.Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays.A new wave of investors is getting the message; the Fede...Read More
Strengths? The best performing precious metal was silver, up 7.30 percent. Gold had a strong week and held above $1,700 an ounce. Bullion rose the most in a week on Wednesday after Fed Chairman Jerome Powell said that the U.S. economy is facing unprecedented downside risks that could do lasting damage. Powell pushed legislators to take more action to support the economy. The poss...Read More
Dear Friend of GATA and Gold:GATA today asked the U.S. Commodity Futures Trading Commission whether it has ever audited the gold reported to it by the New York Commodities Exchange as being eligible or registered for sale and delivery on the exchange.In a letter to commission Chairman Heath P. Tarbert, your secretary/treasurer and GATA consultant Harvey Organ wrote:"Recent turmoil in the gold ma...Read More
Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More
It's more likely silver is topping rather than breaking-out. Here's why...by Przemyslaw Radomski via Sunshine ProfitsWhenever one hears the words precious metals, gold and silver spring to mind. But this world is much richer, and precious metals don't end with the yellow or white metal. The less well known cousins, platinum and palladium, can and do send valuable signals too. Before we examine s...Read More
The gold-to-silver has broken down below 100. Here's why the metals are on the move to start the week...Silver is wasting no time at the start of this week.In fact, it started last night.On Sunday, Fed Chair Jerome Powell was on the CBS television show 60 Minutes to discuss a wide number of monetary issues, including negative interest rates.Suffice to say this "interview" was well scripted and eac...Read More
RAPAPORT... De Beers has appointed Sally Morrison director of public relations for natural diamonds. The long-serving branding specialist has been chief marketing officer for the company's lab-grown line, Lightbox, since 2017.Based in New York, Morrison will sit within De Beers' consumer and brands division, focusing on media, trade and designer outreach for natural diamonds, with an emphasis...Read More
RAPAPORT... Jewelry was the top gift US moms received this Mother's Day, with most consumers purchasing online due to store closures, according to a survey by MVI Marketing.Some 57% of husbands who bought their wives a Mother's Day gift purchased jewelry, while 13% gave their partners a watch. Meanwhile, 31% of daughters and 47% of sons bought their mothers jewelry for the holiday. Other popu...Read More
RAPAPORT... E-commerce sales at Michael Hill reached an all-time high in late April and early May as the Australia-based retailer responded to changing consumer attitudes amid the coronavirus pandemic.Digital revenues for the three weeks ending May 14 broke a record the company set during the 2019 Christmas season, it reported Thursday."The surge in our digital sales signals a notable shift i...Read More
(IDEX Online) - The price of super-rare pink diamonds is to set to rocket with the forthcoming closure of the Argyle mine in Western Australia, which has been responsible for 90 per cent of world supplies.Owners Rio Tinto plan to cease production by the end of 2020, when economically-viable reserves will run out.The value of pink diamonds sold at its annual tenders has been appreciating by an aver...Read More
(IDEX Online) - Over 80 per cent of the world's diamond reserves are held by just three countries - Russia, Congo and Botswana - according to new estimates.There are 1.1 billion carats of unmined diamonds globally, says the London-based finance publication Learnbonds. More than half (52 per cent) are in Russia, 13 per cent in Congo and eight per cent in Botswana.The research says product...Read More
Look beyond market approach to project valuations: van ZylLeadershipSeven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources The pricing is at 1.5c per new share.Read More
While backward-looking economic data continues to show how deep the global contraction has been, markets seem focused on the recovery this morning, Monday May 18, as more economies open up and plan to reopen in the weeks ahead. The base metals on the London Metal Exchange are up across the board, all the base metals with the exception of July nickel are up on the Shanghai Futures Exchange and Asia...Read More
U.S. equity index futures were higher this morning. S&P 500 futures advanced 75 points in pre-opening trade. Index futures responded to encouraging comments last night by Federal Reserve Chairman Jerome Powell about a recovery in the U.S. economy in the second half of 2020.NVIDIA advanced $12.37 to $352.00 after BMO Capital upgraded the stock from Market Perform to Outperform. Target was raise...Read More
In April, Longview Power filed for bankruptcy. The company's main asset is its 700 megawatt (MW) coal-fired power plant in West Virginia, which produces enough electricity to continuously power more than 500,000 homes.The company said the decision was taken "as a result of substantially lessened demand for electricity due to long term power-pricing pressure caused by cheap natural gas, an unseason...Read More
The S&P/TSX Venture Composite Index rose 3.32% to 508.99 and gold continued to make gains, rising US$39.30 per oz., or 2.26%, to close at US$1,742.20 per ounce.Abitibi Royalties saw its share price jump $1.01 to $22.00 with news of an updated resource estimate for their New Alger royalty. The company has a 1% net smelter return (NSR) royalty at the property, which is owned by Renforth Resources. T...Read More
As decisions about reopening businesses continued to vary from state to state in the U.S., the Dow Jones Industrial Average fell 2.73% to 23,685.42, while the S&P 500 dropped 2.31% to 2863.70. Meanwhile, gold maintained its lustre amid the COVID-19 pandemic as it continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%.Franco-Nevada continued to gain market v...Read More
After starting the May 11-15 trading week with some gains, the S&P/TSX Composite Index closed down 2.24% to 14,638.90. Spot gold continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%, and the S&P/TSX Global Gold Index advanced 4.86% to 370.32. The S&P/TSX Global Base Metals Index fell 3.57% to 75.88, while the S&P/TSX Global Mining Index increased 2.84% to...Read More
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Major bull rallies in gold stocks have been preceded by generalist investors rushing back into the sector, and this is exactly what is happening right now, said Frank Holmes, CEO of U.S. Global Investors.Holmes discusses sentiment in the gold sector, as well as the historic bitcoin halving that took place last week._________________________________________________________________Kitco News is the...Read More