The equity markets continue theirhighly volatile trade, as Wednesday saw over a 500-point swing. The VIX indexhad a 12-point intraday trading range. Oil got clobbered again along with thebonds, gold, euro currency and the Canadian dollar.The U.S. dollar has bottomed andcould be the “black swan’ in the Fed’s grand scheme of things. The dollar wasthe last chance for the Fed to try...Read More
(Kitco News) - Gold held by globalexchange-traded funds increased by 27.6 tonnes during the first month of theyear, a gain of 5%, according to the World Gold Council (WGC).January's rise was largely drivenby North American ETFs, which added 21.5 tonnes ($940 million), representing73% of all global inflows, the WGC said in its monthly report on Thursday. Incomparison, European funds added only 7.6...Read More
Mr. Vishal Gupta reportsCALIFORNIA GOLD ANNOUNCES POSITIVE FIRST ASSAYS FROM RESOURCE DRILLING AT QUEEN SPECIMEN ZONE - INTERSECTS 30.2 M OF 1.21 G/T AU, INCLUDING 9.3 M OF 2.37 G/T AU AT ITS FREMONT GOLD PROJECT**California Gold Mining Inc. has released the first set of assay results from the recently commenced resource drilling program at the Queen Specimen zone at its flagship Fremont project i...Read More
Canadian billionaire Robert Friedland, founder and executive chairman of Ivanhoe Mines (TSX:IVN), has joined the debate over the Democratic Republic of Congo's imminent hike to mining taxes by saying his company would pay higher royalties and taxes, but only if that money benefits locals.The Vancouver-based company, which is developing the Kamoa-Kakula copper deposit in the Central African nation...Read More
Mr. Eric Edwards reportsTRIMETALS MINING INC. DRILLS 10.7 M @ 2.02 G/T AU AND 25.2 G/T AG AT 12.2 METERS DOWNHOLE DEPTH AT GOLD SPRINGS PROJECTTrimetals Mining Inc. has released the final results from drill holes completed as part of the 2017 program on the Gold Springs project in Utah and Nevada. SUMMARIZED RESULTSHoleFromToThickness*Gold SilverNo.(m) (m) (m) (g/t)(g/t)E-17-016 7.689.982.30.63 11...Read More
Annual ETF inflows added 202.8t to demand, around one-third of 2016's inflows.Bar investment was broadly stable, while coin investment slid 10%.Official gold reserves swelled by 371.4t, 5% down on 2016.2017: Q4 recovery fails to mitigate full-year decline Gold demand rallied in the closing months of 2017, gaining 6% year-on-year (y-o-y) to 1,095.8 tonnes (t) in Q4. But it was too little, too late:...Read More
Sotheby's unveiled Thursday what it calls the "world's largest, rarest and most valuable D-Flawless round white diamond to have ever been offered for private sale, with experts predicting the gem could fetch over $33 million.The 102.34-carat white diamond, mined by De Beers in Botswana, is the only known round brilliant-cut gem over 100 carats perfect according to every critical criterion, said S...Read More
Precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Thursday it had received approval from South African competition authorities to exchange selected assets for a 38% stake in South African DRDGOLD Ltd. (DRD), in a deal valued at R1.3 billion (roughly $108 million at today's rates).Deal gives Sibanye-Stillwater the option to increase its stake in DRDGold to 50.1%The company, Sou...Read More
Precious FewGold Wins, Bitcoin LosesSo much for the digital currency providing negative beta.By David Fickling@davidficklingMore stories by David FicklingRead More
Treasury yields push higher after auction; commodities declineU.S. indexes lose day's gains after rebounding from routKeith Parker of UBS and James Athey of Aberdeen Asset Management discuss investors returning to equities.U.S. stocks remained on unsteady footing as the bout of volatility that’s gripped global financial markets persisted amid signs that the rise in Treasury yields has yet t...Read More
Wall Street Overview The Dow Jones Industrial Average finished lower by 19 points, or 0.08%,on Wednesday, Feb. 7. The S&P 500 declined by 0.50% and the Nasdaq slumped 0.89%. Treasury yields rose on news that congressional leaders reached an agreement on a two-year budget deal that would prevent a government shutdown. The agreement raises federal spending by almost $300 billion ove...Read More
Showrooms in Shenzhen busy, wholesalers see clients returningWorld's biggest jeweler expects sales to keep expanding in '18An employee arranges gold bracelets at a Chow Tai Fook store in Shanghai.Photographer: Qilai Shen/BloombergChina’s growing throng of affluent consumers is driving a rebound in demand for gold rings, bracelets and necklaces as a property boom and high stock market valuat...Read More
Photographer: Luke MacGregor/BloombergGold jewelry demand in the United Arab Emirates sank to a 20-year low last year, the fourth consecutive annual decline, the World Gold Council said.Purchases fell 2 percent to 42.8 tons last year, the producer-funded council said Tuesday in an emailed report. The drop occurred even after fourth-quarter demand gained 16 percent as consumers rushed to buy to bea...Read More
Global stocks attempted to rebound from the recent global rout Wednesday, with modest gains in Asia and improving futures in Europe, but traders remained on edge amid high volatility and climbing bonds yields that could keep markets difficult to predict in the days ahead. Wall Street futures suggest big declines at the start of trading, with contracts tied to the Dow Jones Industrial Averag...Read More
I'm not so sure investors are prepared for an actual market pullback. It was nearing the end of January and the Dow had just broken above 26,000 for the first time ever. But the stock market turned lower after hitting new all-time highs and finished the day in the red.As far as reversals go, it was a tame one. Stocks even opened higher the very next day. But we could sense some mild panic beginnin...Read More
Dear Reader,“Volmageddon”+2.Stocks mounted a heroic charge yesterday… like cavalry answering the bugle at a desperate moment.The bears threw down their arms... and took to their heels.The Dow regained 567 points when the smoke cleared yesterday afternoon.The major averages opened higher again this morning… before the bears counterattacked later in the day.The Dow, the S&...Read More
The last few trading days have given investors quite a ride.It's no secret Friday-to-Monday's sell-off scarred many retail investors out of the market. As share values dipped across every sector, biotech investors felt the pain too.It all started last Friday. Market reaction to rumors of the Federal Reserve's planned rate hikes kicked off a frenzy of selling.For two days we were harshly reminded w...Read More
1,597.08That’s how far the Dow Jones Industrial Average fell on Monday before rebounding a bit into the close.Investors freaked out - even the professionals!Just for a little comedic relief, I flipped on CNBC in my office to see how the talking heads were handling the crisis. And true to form, most of them were yelling questions at each other with very few answers for investors.Yes, the Dow&...Read More
Showrooms in Shenzhen busy, wholesalers see clients returningWorld's biggest jeweler expects sales to keep expanding in '18An employee arranges gold bracelets at a Chow Tai Fook store in Shanghai.Photographer: Qilai Shen/BloombergChina’s growing throng of affluent consumers is driving a rebound in demand for gold rings, bracelets and necklaces as a property boom and high stock market valuat...Read More
Precious FewGold Wins, Bitcoin LosesSo much for the digital currency providing negative beta.By David Fickling@davidficklingMore stories by David FicklingRead More