- Keith Weiner, Monetary MetalsLast week, we discussed the fundamental flaw in GDP. GDP is a perfect tool for central planning tools. But for measuring the economy, not so much. This is because it looks only at cash revenues. It does not look at the balance sheet. It does not take into account capital consumption or debt accumulation. Any Keynesian fool can add to GDP by borrowing to spend....Read More
By Avi GilburtI have to be honest and tell you that I am literally chuckling while I write some of my articles. My last gold article was one where I was certainly chuckling while writing it. Yet, I cannot tell you how many other "analysts" across the internet took me to task for something about which they thought I was being serious. I guess a sense of humor is not something that every reader po...Read More
- Jordan Roy-Byrne CMT, MFTAAs I pen this article, Gold is set to close the month and the quarter above $1400/oz and holding the majority of its recent gains. That does not necessitate continued strength but it is a good sign.The technicals and fundamentals are finally in place for Gold. It is outperforming all major currencies and the Federal Reserve is weeks away from beginning a new cycle of...Read More
Gold and silver can fall more after the US-China meeting at G20. Gold will crash if it trades below $1390. Silver will crash if it trades below $1505. Copper and crude oil should rise today. Traders will assess the US-China trade talk. Since details are not yet made public, reaction will be limited. I do not think North Korea will have any impact on currencies or bullion. Do not confuse that tr...Read More
As the global financial system heads closer to the abyss, production of the 2nd most important precious metal, silver, continues to deal with big problems...by Steve St Angelo of SRSrocco ReportAs the world financial system heads closer to the abyss, global production of the second most important precious metal, silver, continues to deal with serious problems. According to Peru's Ministry of Ene...Read More
RAPAPORT... The Israel Diamond Exchange (IDE) haslaunched an international awareness campaign, highlighting the unique featuresof natural diamonds.The bourse will promote its "I lovenatural diamonds" campaign - which it says is the first internationalinitiative by a global diamond center to differentiate real diamonds fromsynthetics - over social media. It will feature several short videos, releas...Read More
RAPAPORT... Luk Fook's revenue and profit grew in fiscal 2019, driven by an expansion of its network in mainland China.Overall revenue for the Hong Kong-based jewelry retailer rose by 9% to HKD 15.86 billion ($2.03 billion) in the year ending March 31, it reported last week. Net profit grew 10% to HKD 1.5 billion ($192.6 million).The company's retail revenue in mainland China rose 18% to HKD...Read More
RAPAPORT... Gem Diamonds has appointed Mazvi Maharasoa, the former head of itsLet??eng mining operation in Lesotho, as a non-executive director for the group,it reported Monday. Maharasoa has more than 20 years of senior-management experience,including at Let??eng Diamonds, where she was CEO from 2009 to 2017. She wasalso the founder and president of the Lesotho Chamber of Mines, and has serv...Read More
Like in previous months, price developments in rounds remain few and sporadic with mixed trends and especially in sizes under a carat rather subdued. The important 1.00-1.25 carat group, a significant market gauge, remained very stable, with only a couple of categories showing some growth. As during previous months, categories above two carats continue to show increased volatility compared to...Read More
MarketWatch.com reported that "China is unlikely to surpass the U.S. in retail sales this year as previously expected thanks to the damaging effect of the current trade conflict between the two powers, but that milestone is likely to happen in 2021." MarketWatch said that a recent forecast made and published the research company eMarketer had said that it was expecting China retail sales to domina...Read More
Amish Shah, founder and owner of ALTR Created Diamonds, will be leading a panel entitled 'Lab Grown Diamonds (LGDs): Challenges and Opportunities'. at the Gem & Jewellery Conclave (GJC) Manthan on July 2, 2019. The discussion will be held from 5:45 p.m. to 6:30 p.m. at Hotel Sahara Star in Mumbai, India. Now in its second year, GJC Manthan is an event that brings together 27 industry...Read More
Brent Eiseb, a 24-year veteran of the diamond industry who has risen through the ranks of the Namibia Diamond Trading Company (NDTC) who was recently appointed as its new Chief Executive Officer, gave an extensive interview to the Windhoek Observer, saying that in the previous 11 years since the establishment of Namibia Diamond Trading Company (NDTC), the firm has successfully executed its mandate...Read More
For the ninth consecutive year, Jewelers of America (JA) members met with key lawmakers to discuss trade and tax concerns during its annual advocacy visit to Washington, D.C., on Wednesday, June 19. As in past years, the delegation was led by the Jewelers of America Political Action Committee (JAPAC) . The delegation met with a number of key lawmakers and congressional staff - including Senator To...Read More
Various news US sources have reported that the pearl and gemstone wholesaler Tara Jewels LLC has filed for Chapter 11 protection in a New York bankruptcy court. The company claims more than $10 million in liabilities. The American subsidiary of its Indian parent Tara Jewels Ltd. is said to have about $1 million in assets. Its liabilities, however, are set from an amount of $10 million to as much a...Read More
White Gold Corp a force in Yukon as exploration drive reaps dividendsSPONSOREDwhite gold corpThe company said it had received permits to expand the tailings dam facility and conduct further surface exploration drilling at its polymetallic Yauricocha mine in Peru.Sierra has been looking for a rebound after a first quarter marred by a 12-day strike at Yauricocha, slower-than-expected ramp-ups at its...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland minerals'When top miners commit to an aspiration, that does trickle down'SPONSOREDdeloitteBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25The death toll at the Katanga mine is said to have risen from 19 to 43, with the illegal miners wor...Read More
Equity indices around the world moved higher in overnight trading. They responded to a resumption of trade negotiations between the U.S. and China. The S&P 500 Index futures gained 32.75 points to 2,977.00 implying a move by the Index at the open to an all-time high above the previous high at 2,964.15.Other indices recording significant gains in overnight trading included the Shanghai Composit...Read More
Our monetary system is broken. It's given us low growth, a shrinking job force, inequality beyond what a healthy economy would produce, inefficiency, and the unnatural growth of finance as a portion of the economy. Our aging Federal Reserve System starves both small businesses and Silicon Valley of the capital needed to grow jobs and wages.Fed policy translates into zero-interest-rate loans for th...Read More
I've been self-employed for the last decade and I've been doing my own taxes for as long as I've had income so I've learned an awful lot about both things over the years.Now, after recently getting a letter from the IRS regarding my 2018 return, I have some new insights to share with you about where the two areas intersect - specifically why the advantages of a special retirement plans for busines...Read More
Mae C. Jemison, the first woman of color in space, will be the Colorado School of Mines 2019 Homecoming Distinguished Lecturer on Thursday, October 17. Jemison blasted into orbit aboard the space shuttle Endeavour, September 12, 1992. Now, founder and president of two technology companies, the space flight was just one of a series of accomplishments for her.Born in Decatur, Alabama, and raised i...Read More