StrengthsThe best performing metal this week was platinum, up 3.57 percent as money managers increased their bullish outlook and took their net long position to a 22-month high. Gold traders remained bullish on the price outlook for bullion even amid trade optimism early in the week, according to the weekly Bloomberg survey. Turkey's gold reserves rose $348 million from the previous week and a...Read More
Dave Kranzler, Mining Stock JournalGold and silver are set up potentially for an explosive move, fueled by the inevitable escalation of Central Bank money printing. The Federal Reserve has led the charge on this account over the last three months as the financial system has begun to veer off the rails.Currently, the Fed is printing money at the fastest rate in its history. The brown stuff is hit...Read More
RambusTonight I would like to update some commodities charts we haven't looked at in a while. There have been some subtle changes taking place that need to be addressed. Just like the PM complex that topped out in 2011 many commodities also topped out that same year and have been correcting ever since. With the US dollar at an important inflection point it may be time for commodities in general...Read More
By: Ira EpsteinGold weekly chart just below the resistance area, what to look out this week:Read More
Global political weather is such that financial markets will not sleep during Christmas and New Year weeks. Do not sleep in the next three weeks on your short term investment. Still anything can happen. If you are on a vacation or plan to go on a vacation for the next three weeks, then close very short term open positions in any future and options and ETF. If you are holding physical gold, any p...Read More
French ConnectionSuppressed CompetitionDo Hard ThingsReach Out & ListenVIP AccessChristmas in Puerto Rico, Pat Cox, and MoreWe choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, o...Read More
Billionaire Eric Sprott is a "long-time gold bull", and claims to hold 90% of his assets (except for Sprott Inc shares) in gold and silver. He advised investors to buy gold before the 2008 financial crash, which proved prescient. The gold price went on to double in three years or nearly triple from the absolute bottom in 2008 to the high in 2011.He invested heavily in Kirkland Lake Gold, holding r...Read More
The gold price bottomed in late 2015 around $1,050 per ounce. It has since advanced to a high of $1,555 in early September, followed by a pullback to the current price of $1,470. Gold is in a well-defined uptrend channel with higher lows and recently higher highs. The breakout above $1,360 this summer was significant and we have seen follow-through buying. The $420 move in the price of gold from...Read More
RAPAPORT... A drop in rough-diamond prices and a sales shift tolower-value items weighed on De Beers' profitability in the second half,according to executives at parent company Anglo American. The miner's rough-price index dropped around 5% year onyear for the first nine sights of 2019 amid a market slowdown, Anglo CEO MarkCutifani noted in a call with investors last week. Combined with the w...Read More
RAPAPORT... Signet Jewelers is now offering jewelry featuring synthetic diamonds and gemstones at all of its major US banners, after asuccessful pilot in limited locations. "Lab-created diamonds are available in both fashion and bridaljewelry at James Allen, Kay, Zales, and Jared stores, as well as their e-commercesites," David Bouffard, Signet's vice president of corporate affairs, confirme...Read More
RAPAPORT... Gibb River Diamonds believes it will secure the remainingfinancing needed to start production at its Blina mine after blocking ahostile takeover, it said Monday. The company's ability to obtain investment had been hindered by Ron Brierley, a New Zealand-based investor and corporate raider who launched a hostile takeover bid in 2015, executive chairman Jim Richards explained. Brier...Read More
(IDEX Online) - The Luaxe diamond deposit in Angola could produce 1 million carats of diamonds worth $90 million in 2020. That's according to Russian miner Alrosa, which owns the project with Angola's state-controlled diamond miners Catoca and Endiama. "It will be one of the largest deposits in the world," Vladimir Marchenko, Alrosa's deputy chief executive in charge of its Afr...Read More
MOSCOW – Russia is proposing to move toward ending the ban on selling so-called blood diamonds from the Central African Republic, a former French colony that’s struck recent military and commercial ties with Moscow, amid resistance from the US and Europe.The CAR, which is mired in civil conflict, should be granted a “road map” outlining the steps it needs to take to get the...Read More
Galena provides a leading lightSPONSOREDgalena miningThe timing of the start of production is advantageous for Nevada Copper, with the copper sector straining under a lack of quality new projects in the development pipeline, at the potential start of a new copper price cycle.The company expects to ship first concentrates soon under its offtake agreements with Aurubis and Concord Resources. Pumpkin...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipExore excels in Cote d'IvoireSPONSOREDexore resourcesArtemis all set thanks to unique approachSPONSOREDartemis resourcesThe 2019 report details 63 projects compared with 54 in the 2018 edition, of which 53.3% are exploring for copper. Arequipa is the leading province with e...Read More
Broader markets are generally upbeat this morning, Monday December 16, helped by last week’s partial United States-China trade deal and some positive economic data out of China.But the base metals are mixed and gold prices are up, which suggests there is still some concern about the terms of the trade deal.Chinese industrial production rose 6.2% in November, up from 4.7% previously while reta...Read More
U.S. equity index futures were higher this morning. S&P500 futures were up 14 points in pre-opening trade.Cineplex (CPX $24.01) is expected to open higher after Cineworld offered to acquire the company for $34 per share cash. Value of the offer is $2.1 billion.International Flavours and Fragrances (IFF $133.98) has agreed to merge with Dupont's nutrition unit in a deal valued at $26.2 billion....Read More
This summer I was in Bretton Woods, New Hampshire, along with a host of monetary elites, to commemorate the 75th anniversary of the Bretton Woods conference that established the post-WWII international monetary system. But I wasn't just there to commemorate the past -I was there to seek insight into the future of the monetary system.One day I was part of a select group in a closed-door "off the...Read More
Herbert Stein, a prominent economist and adviser to presidents Richard Nixon and Gerald Ford, once remarked, "If something cannot go on forever, it will stop."The fact that his remark is obvious makes it no less profound. Simple denial or wishful thinking tends to dominate economic debate.Stein's remark is like a bucket of ice water in the face of those denying the reality of nonsustainability. St...Read More
In October, the wheels started turning on one of the world's largest conveyor systems. Once in full operation, 14 kilometres of belts will bring 140,000 tonnes of ore a day to surface from huge tunnels carved out beneath Codelco's giant Chuquicamata pit in northern Chile.The operation represents the future of Chile's mining industry, Chilean President Sebastian Pi??era said at its inauguration in...Read More