Well boys and girls The Straits of HELL have just been breached, JUMPED with a GAP, which leaves us with one of the LARGEST Island Bottoms of all times, IF not the largest.To me that signifies that whomever they are, Monetary or Governmental Authorities, Et Al, have lost control.and that Precious Metals will do as they need to, based on the leadtime of the GDX.Good Luck All, BREAK A LEG !! The G...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12April 27, 2020 The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future...Read More
COLORADO SPRINGS, CO, April 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of one-third of a cent per common share for April 2020 payable on May 26, 2020 to shareholders of record as of May 11, 2020. Gold Resource Corporation is a gold and silver producer, developer and explorer with oper...Read More
Physical gold continued to catch a bid last week, trading above $1,760 an ounce, on a host of head-spinning economic news, from millions more Americans filing jobless claims to record money-printing to negative oil prices. The national average price for a gallon of gasoline fell further to $1.78 on Friday, down more than $1 a gallon from a year ago. But the lowest price in the country may belong...Read More
Strengths? The best performing metal this week was gold, up 2.78 percent. ETFs added 36,334 troy ounces of gold to their holdings on Thursday, bringing this year's net purchases to 12.2 million ounces, according to Bloomberg data. That marks the 24th straight day of increases for ETFs backed by the yellow metal. Newmont, the world's largest gold company, increased its quarterly d...Read More
No one anticipated negative crude oil even in the wildest of the dreams. A whooping negative -$40.32 was historic. The coming generations will have a chapter in their MBA course as to why crude oil prices reached -$40.32. The trading lesson is simple, when price move as per fundamentals, never trade against it. Silver has not risen as it is an industrial metal. Investment demand for silver lags...Read More
How can anyone have a profit or loss in silver if there is no price to post?submitted by J. Johnson via JS MinesetGreat and Wonderful Monday Folks, Gold is recovering from a British hangover but only after a high of $1,745.80 was reached with the London low at $1,728.80 with the "now" price at $1,734.40, down $1.20. Silver is still trading in the positive, even after hitting the side of...Read More
RAPAPORT... Sales of rough from Lucapa Diamond Company's Lulo mine fell in the first quarter as the average price dropped amid a weak market.Revenue slid 36% year on year to $7.8 million, the company said Monday. Although sales volume surged to 2,818 carats compared with 451 carats the previous year, the average price plummeted 90% to $2,758 per carat. That was partly due to an unfavorable co...Read More
RAPAPORT... US imports of polished diamonds slid 26% to $2.43 billion in the first two months of 2020, even before the coronavirus had started to have a major impact on the economy. February imports fell 12% to $1.28 billion. The country has seen a continued slowdown in trading: Every month since August 2019 has recorded polished imports of below $1.5 billion (see graph below).US Trade Data f...Read More
RAPAPORT... The diamond industry will need to tweak its messaging to emphasize the values its product and brands represent, De Beers executives stressed in the Rapaport Diamond Podcast. Rapaport Senior Analyst Avi Krawitz spoke with Stephen Lussier, executive vice president, consumer and brands, at De Beers, and David Prager, the company's executive vice president of corporate affairs, about the i...Read More
(IDEX Online) - Christie's sold over $1.3m of jewelry at its latest online auction, with no sign of bidding being dampened by coronavirus.The auction house said the number of unique visitors online had nearly doubled, compared with a similar sale a year ago, and almost 40 per cent of sales were to new customers. Four fifths lots sold above their high estimates.The 12-day sale attracted bidder...Read More
(IDEX Online) - A jewelry consultant sold a $16,000 engagement ring while working from home during the coronavirus lockdown. Shenae Comer, a Kay employee from Washington state, spent 90 minutes on the phone with the buyer and was able to discuss details and show him detailed pictures online, before arranging to have it shipped to his home. She's been working from home as part of the company&#...Read More
Metals prices were for the most part stronger this morning, Monday April 27, as were Asian-Pacific equity indices, while gold prices were slightly weaker and US treasury yields were firmer - all suggesting a broad risk-on mood.Market participants seem to be focused on and optimistic about the plans for the gradual reopening of economies while countries get a handle on the Covid-19 pandemic. * Pre-...Read More
U.S. equity index futures were higher this morning. S&P 500 futures advanced 29 points in pre-opening trade. Facebook added $4.23 to $194.38 after Stifel Nicolaus increased its target price from $200 to $230. MasterCard gained $3.84 to $262.60 after Wedbush raised its target price from $250 to $300.Visa advanced $1.68 to $169.00 after Wedbush increased its target price from $170 to $200. Ameri...Read More
Seabridge Gold (TSX: SEA; NYSE: SA) has released the results of an updated preliminary economic assessment (PEA) on its KSM gold-copper project, 65 km northwest of Stewart, British Columbia.The latest study suggests a large underground block cave mine at the Iron Cap deposit, with one-third of the planned production sourced from open pits at the site. This approach is the opposite of that in the 2...Read More
Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) has completed 13.5 km of underground development - 4.2 km ahead of plan - at its Kakula copper project in the Democratic Republic of Congo (DRC), and says it will bring the deposit into production on time and budget by the third quarter of 2021.Another 29.5 km of underground development must be completed before first concentrate production in 2021, and Ivanh...Read More
Silvercorp Metals (TSX: SVM; NYSE: SVM) is buying Guyana Goldfields (TSX: GUY) in a $105 million (US$75 million) cash and stock deal that creates a diversified precious metals producer with two silver mines in China and a gold operation in Guyana.The Vancouver-based miner, which currently produces silver, lead and zinc from mines in China, will give Guyana's shareholders the option to receive 60 ?...Read More
Bluestone Resources (TSXV: BSR; US-OTC: BBSRF) has raised $92 million in a bought deal financing to advance its flagship Cerro Blanco gold project in Guatemala.Under the agreement, a syndicate of underwriters purchased 52.58 million common shares in the company at $1.75 per share. The deal includes the exercise, in full, of an over-allotment option of an additional 6.86 million shares at the of...Read More
Rio Tinto ( NYSE: RIO; LSE: RIO) will spend a further A$9.2 million (US$5.9 million) on exploration at the Citadel copper-gold project, a joint venture with junior Antipa Minerals (ASX: AZY), in Western Australia's Paterson province.The budget earmarked for this year is well above the previous commitment of A$2 million (US$1.3 million) put forth in January, when Rio Tinto earned 51% of the project...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesHow mining companies can reduce equipment purchasing cost and improve qualitySPONSOREDtechnical auditOver the past five weeks, the nickel price has risen by 10% from a low of US$5 per p...Read More