Palladium has soared by more than 25% in the last two weeks alone, and almost doubled in value over the last 12 months.Continue...Read More
"While the drivers of recent performance are not entirely clear-cut, we believe the surge in geopolitical tensions may have Continue...Read More
Sector expert Michael Ballanger considers the last week in the stock and precious metals markets. Ever since Sept. 19, 2008, when Hammerin' Hank Paulson appeared in front of the U.S. Congress on bended knee and begged those clueless politicians for a bailout which he did successfully the spread of moral hazard throughout the world has been a contagion that makes the Bubonic plague appear as harml...Read More
Technical analyst Clive Maund looks at the charts and finds that gold may react back before continuing to climb. At first glance gold looks like it may be about to advance out of a bull Flag, but there are a number of factors in play that we will examine that suggest that any near-term advance won't get far before it turns and drops again, and that a longer period of consolidation and perhaps rea...Read More
Technical analyst Clive Maund charts silver and predicts a small drop in the price of the metal. If gold is looking set to react back over the short to medium term, which it does, then it implies that silver, which is weaker at this stage in the cycle, is set to react back too.On silver's latest 6-month chart we can see that the fairly tight pattern that has developed over the past several weeks,...Read More
The Fed still has yet to admit that it's running another quantitative easing campaign...by Chris Marcus with Marc Faber via Arcadia EconomicsWhile the Federal Reserve still has yet to admit that it's running another quantitative easing campaign, Dr. Marc Faber of the Gloom Boom and Doom Report explained how in reality, when the Fed started QE in 2008, that was the beginning of QE to infinity.Dr. F...Read More
Many continue to look at the bank and its CEO Jamie Dimon as modern day financial heroes...by Chris Marcus with James Anderson via Arcadia Economics#JPMorgan's Unanswered Questions in The #Silver Market: James AndersonDespite being charged with the Rico Act for their manipulation of the #silvermarket, many continue to look at the bank and its CEO #JamieDimon as modern day #financial heroes.But #Ja...Read More
RAPAPORT... US retail sales increased 4.1% during the recent holiday season amid steady consumer confidence, the National Retail Federation (NRF) said.Total sales for the November-to-December period were $730.2 billion, according to the NRF, which bases its numbers on figures from the US Census Bureau. That total came in at the higher end of the NRF's forecast of $727.9 billion to $730.7...Read More
RAPAPORT... The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data the Jewelers Board of Trade (JBT) released Thursday. While 900 businesses left the industry during the year, only 228 joined.However, the...Read More
RAPAPORT... The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community's reputation through their dedication, ethics and integrity, JVC said last week."Susan is a true industry treasure who deeply emb...Read More
RAPAPORT... Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau as it becomes the latest jeweler to rethink how its spreads resources across the region.The retailer expects a "single-digit" decrease in the number of rental leases it renews in Hong Kong in the current financial year ending March 31, and a "double-digit" drop the following year, it sa...Read More
RAPAPORT... Alrosa has begun drilling at its Mir mine to test whether reopening the deposit is economically viable.This phase, which it will carry out through 2021, will help define the mine's dimensions and the quality and grade of its remaining diamonds, Alrosa noted last week. It will also test how safe the site is.Alrosa will spend RUB 2 billion ($32.5 million) to complete the first phase...Read More
(IDEX Online) - HRD Antwerp has hired Ellen Joncheere as its new CEO. The appointment is effective immediately. Interim CEO Michel Janssens will be retiring next summer. Joncheere was formerly general manager at Fremach, a plastic automotive components supplier. She has also worked in the environmental services sector. HRD Antwerp said in a release that the new CEO plans to help the orga...Read More
RAPAPORT... Bonhams has hired Eleonora D'Ottavi in its latest effort to build up its global jewelry business.D'Ottavi will join the auction house as head of jewelry for Italy, responsible for providing valuation services and sourcing gems that Bonhams will sell at its New York, London and Hong Kong auctions."Eleonora brings the ideal combination of international experience and proven com...Read More
(IDEX Online) - There are rumors that De Beers could be considering changes to its Sightholder system. According to Bloomberg, De Beers has hinted that it could reduce the number of Sightholders to help strengthen business for the companies that survive the shake up. Bloomberg said that De Beers' clients have been told to expect an update on possible contract changes at this week's...Read More
(IDEX Online) - Chow Tai Fook Jewellery Group Limited has acquired Enzo Jewelry Inc. The retailer, which specializes in colored gemstones, has 60 points of sale in Mainland China.Adrian Cheng, executive director of Chow Tai Fook Jewellery Group, said Enzo will continue its niche position as a natural coloured gem specialist, which will complement the group's multi-brand strategy. Founded...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSerengeti said yesterday it was set to increase its ownership to 67% of Kwanika Copper Corp by sole-funding 2020 exploration at Kwanika, with Korea's POSCO International electing "not to participate"Read More
Broader markets were generally firmer but quiet on Monday January 20, with equities in Asia mainly stronger, as were the base metals, while gold was holding up in high ground.Equities in Asia are consolidating recent gains, but multi-year highs in many regional equity indices suggests sentiment is bullish overall. Markets quiet ahead of the Lunar New Year holidays, which start on Friday in China....Read More
World equity markets were mixed in quiet overnight trading. U.S. equity markets are closed for the Martin Luther King holiday. European equity indices moved slightly lower. Far East equity indices moved higher, led by a 20.29 point gain by the Shanghai Composite Index to 3,095.79.The TSX Composite Index is expected to open slightly higher in quiet trade. Focus at the opening is on the energy secto...Read More
Production in the fourth quarter at TMAC Resources' (TSX: TMR) struggling Hope Bay mine in Nunavut were at the low end of expectations, and the company has begun a strategic review process.The deferral of mining in the BTD East Limb due to rehabilitation work, which impacted available grade, was the biggest factor in the company's weak quarterly production results of 24,650 oz. gold, TMAC said.Dis...Read More