- Jordan Roy-Byrne CMT, MFTAIf you follow our work, you are aware of our growing optimism on gold stocks in 2020.As we've written, the fundamental setup in 2020 should be bullish for precious metals.Meanwhile, the technical setup for gold stocks is one of the best we've ever seen. Gold stocks (and GDX specifically) are consolidating in a bullish fashion within a nearly 7-year long base that,...Read More
Gold's post breakout reaction back from its early September peak has evolved into a steady downtrend as we can see on its 6-month chart below. The approach of the rising 200-day moving average below suggests that this reactive downtrend will have run its course before much longer leading to a second upleg. However, gold's COTs have shown no improvement as this downtrend has unfolded, which is a...Read More
By: Ira EpsteinI am bullish gold, but don't want $1,463 taken out. We are above 18-dma, $1,499.60 resistance area:Read More
There will be short covering and subsequent buildup of long positions if gold and silver rise today and tomorrow. There was no surprises in FOMC meet. Now the focus will shift to European central bank meeting, impeachment news related to Trump and UK elections and the key trade deal. Fed Chairman Jerome Powell said the economic outlook for the U.S. was favorable as the central bank announced its...Read More
NexGen Energy's Arrow uranium deposit, at the Rook 1 property in Saskatchewan's Athabasca basin. Credit: NexGen EnergyVANCOUVER - With the release of the latest batch of assays from its Arrow uranium deposit at the Rook 1 property in Saskatchewan, NexGen Energy is getting closer to completing a feasibility study slated for the first half of next year.The latest assays, part of a 131-hole winter dr...Read More
Polished trading driven by last-minute US holiday ordersand preparations for Chinese New Year. Multi-channel marketing andpersonalization are key themes for retail this season. Consumers shifting tolower price points. Diamantaires satisfied with Dec. orders after tough year. Dealershoping reduced rough supply will support prices and relieve inflated polishedinventory. De Beers cuts production plan...Read More
Sluggish polishedtrading, with buyers struggling to find the right goods due to scarcity of popularcategories. Manufacturers cautiously raising production levels. Factories stilloperating below capacity with large inventories of lower-quality diamonds that aredifficult to sell at a profit. 0.30 to 0.70 ct., G-J, SI-I1 moving well. Starsand melee stable in SI and lower piqu?(C) clarities. Jewelry r...Read More
RAPAPORT... With the holiday season well under way, the Rapaport Diamond Podcast debates different trends taking shape in the retail space. The discussion spans personalization, omnichannel, effective storytelling, being more open-minded, and the need to move away from our reliance on Christmas.In addition, news editor and host Avi Krawitz, senior reporter Joshua Freedman, editor-in-chief Sonia Es...Read More
RAPAPORT... Operations at Petra Diamonds' South African mines haveresumed after the local electricity provider lifted restrictions on power usage. "The company's mining operations in South Africa are...nowoperating at normal load levels," the miner said Thursday. On Tuesday, Petra halted all production, hoistingand processing at its Cullinan, Finsch and Koffiefontein deposits after Eskom enf...Read More
RAPAPORT... Royal Asscher has appointed Kenji Saikachi as CEO of RoyalAsscher Japan, where he will be responsible for leading the jeweler's growth inthe country. "We are confident that [Saikachi] will successfully leadRoyal Asscher to become an even more important player in the Japanese diamondjewelry market," Royal Asscher managing director and vice president MikeAsscher said last week. "Wit...Read More
RAPAPORT... Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly weak part of the supply chain while retailers and rough producers haveimproved efficiency. This has resulted in manufacturers becoming "pri...Read More
RAPAPORT... Sotheby's garnered $43.1 million from its two New Yorkjewels auctions, led by a blue diamond ring which sold for $6.6 million. The cushion-cut, 7.55-carat, fancy-deep-grayish-blue, typeIIb, SI2-clarity Indian Blue had been estimated to fetch $6 million to$8 million at the Magnificent Jewels auction Tuesday. That sale followed theNew York Fine Jewels auction, which took place Monda...Read More
RAPAPORT... A ruby brooch sold for nearly $9 million at Christie's NewYork sale Wednesday, far surpassing its $5.5 million high valuation. The piece, which comprises a total of 11.20 carats ofBurmese rubies, emeralds, diamonds and natural pearls, is from the collectionof noted philanthropist Jessie Ball duPont, who was the wife ofmultimillionaire businessman and duPont gunpowder heir Alfred d...Read More
(IDEX Online) - An Alrosa delegation, led by CEO Sergey Ivanov, recently met with diamond banks and funds to discuss developments in the industry. Among the attendees at the December 6 Moscow event were delegates from the State Bank of India, NBF, ABN AMRO and representatives of the DelGatto and Channel finance funds.During the meeting, the group discussed the factors leading to the weaker diamond...Read More
RAPAPORT... ABN Amro will implement changes to its guidelines for lending to the diamond industry in 2020, reasoning that the trade has become more efficient and now requires less credit.The midstream's reliance on working capital funding should have diminished given it has streamlined its production and sales processes, a spokesperson said in an email to Rapaport News. That new-found efficie...Read More
(IDEX Online) - Bain & Company and the Antwerp World Diamond Centre (AWDC) have released their ninth annual global diamond study. Among the key expectations of the study is a fall in rough diamond sales by up to 25 percent in 2019. With continued geopolitical instability, strong signs of an impending recession and limited marketing support, especially for non-branded and lower-end jewelry...Read More
ABUJA – Swiss prosecutors are investigating a trader of one of the world’s most sought-after-minerals over allegations he illegally dealt in metals during the Democratic Republic of Congo’s civil war.It’s the first time the Swiss authorities have confirmed the probe that began in March 2018.AdvertisementThe Swiss are scrutinising earlier allegations that the trader, Christo...Read More
(IDEX Online) - Technology company Everledger and Alrosa have launched a WeChat e-commerce pilot that will give Chinese consumers a more transparent and secure mobile diamond buying experience.Consumers will now be able to check a diamond's full provenance - including full transparency of origin, characteristics and ownership history - and unique certificate information. They will also...Read More
London-listed Petra Diamonds said on Thursday that its electricity use restrictions have been lifted by South Africa's State utility Eskom and its mines are operating at normal load levels.The company restarted its Cullinan, Finsch and Koffiefontein mines in South Africa on Tuesday, but added that it was restricting power use in line with requirements by Eskom.AdvertisementRolling blackouts in...Read More
JOHANNESBURG – When South Africa’s State-owned utility announced record power cuts on Monday afternoon, Impala Platinum Holdings had two hours to hoist thousands of workers from 1 km deep shafts.The deepening crisis at debt-ridden Eskom Holdings shut down South Africa’s key mining industry for 24 hours, hitting gold and platinum producers that had been enjoying a renaissance on t...Read More