Independent financial analyst Matt Badiali discusses Warren Buffett's recent move. The biggest news in gold mining, after the record price, is Warren Buffett's Berkshire Hathaway recent disclosure. They informed the world that they invested in Barrick Gold Corp. (ABX:TSX; GOLD:NYSE).That sent financial twitter ablaze, because Buffett is a famous gold hater. He famously said in 1998:"(Gold) gets d...Read More

Today, if gold had the same kind ofperformance as the Dow since around the creation of the Federal Reserve in1913, then it would have topped out at around $7 758 [(29568/78.78)*20.67].Yet, it only has an all-time high of about $2 089.In 1973 gold was in a similar type ofposition. The Dow had peaked at 1067.2 (in Jan 1973), which represented aX13.55 (1067.2/78.78) since 1913. If gold had scored a s...Read More

Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More

The board of directors of Brazil-based miner Vale has approve a project to expand capacity in the miner's Serra Sul iron ore site, in the country's northern Caraj??s region, by 20 million tonnes to 120 million tonnes per year. The Serra Sul 120 project will expand the production capacity of Vale's S11D mine and plant, which is the main unit in the Caraj??s region, with start-up expected to the fir...Read More

Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More

A summary of base metals premiums from across the globe for the week to Tuesday August 18.Please click...Read More

Ferrous scrap prices in Mexico have increased in the past week, with some steelmakers trying to secure orders amid a recovery in demand from end-users and higher international prices.Increases were mostly reported in the central Baj?-o region of Mexico, while around the northern city of Monterrey scrap buyers have adopted a wait-and-see stance."There is more pressure for price increases in central...Read More

The three-month base metals prices on the London Metal Exchange were higher at the close of trading on Tuesday August 18, after positive US housing starts and building permits data supported complex-wide buying into the afternoon, with copper led the complex by closing at its highest level since June 2018. Copper's outright price on the LME closed at $6,567.50 per tonne on Tuesday afternoon, climb...Read More

Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More

Last Tuesday's near-vertical decline happened far too quickly for a bottom to have formed. Once the overbought conditions are resolved...by Michael Ballanger via Streetwise ReportsIn watching the travesty of disinformation, misinformation and moral hazard formation ongoing in the global financial markets, I am immediately reminded of a case study from my university days of which I was a part, the...Read More

The three-month base metals prices on the London Metal Exchange were higher at the close of trading on Tuesday August 18, after positive US housing starts and building permits data supported complex-wide buying into the afternoon, with copper led the complex by closing at its highest level since June 2018. Copper's outright price on the LME closed at $6,567.50 per tonne on Tuesday afternoon, climb...Read More

The three-month zinc price on the London Metal Exchange consolidated slightly higher during morning trading on Tuesday August 18, building on a rally at Monday's close, while tin futures remained subdued over the morning. Zinc's outright price on the LME was recently trading at $2,470.50 per tonne, climbing by 0.8% from $2,442 per tonne at yesterday's close. Turnover was moderate at just over 3,70...Read More

There are numerous crosscurrents running through the markets this morning, Tuesday August 18, with the base metals mainly firmer and gold rebounding strongly, while equity markets were mixed and the dollar continued to weaken.Broader US equity markets were weaker this morning following Monday's poor US manufacturing data and rising mortgage delinquencies, but the Nasdaq established a fresh record...Read More

RAPAPORT... Alrosa will enable long-term clients to refuse all their supply allocations at this month's contract sale, continuing the policy it introduced in July."We should admit that we are at the very beginning of the market recovery, which is still [tempered] by a number of external factors, including travel restrictions," Alrosa deputy CEO Evgeny Agureev said in a statement Tuesday. "To...Read More

RAPAPORT... A US court overturned a $21 million judgment previously awarded to Tiffany & Co. in its ongoing case against Costco Wholesale Corporation over use of the jeweler's name to describe generic engagement rings.A lower-court judge erred in finding Costco liable for using the name "Tiffany" on its displays, a federal appeals court ruled Monday in a 3-0 decision. The court believed "reaso...Read More

RAPAPORT... Pandora believes the challenging market will continue through the end of 2020 amid a resurgence in coronavirus cases in key business locations."[The second quarter of] 2020 will not be forgotten anytime soon," said Pandora CEO Alexander Lacik. "Covid-19 has changed our societies and challenged global brands around the world. The pandemic may leave a lasting effect on consumer behavior....Read More

RAPAPORT... Singapore-based SK Jewellery Group reported a sharp drop in earnings during the first half of 2020 as store closures and other restrictions implemented during the coronavirus pandemic impacted sales. Net profit fell 81% to SGD 514,000 ($376,256) as revenue slid 44% to SGD 39.8 million ($29.1 million) during the period ending June 30. The jewelry retailer experienced similar steep...Read More

(IDEX Online) - Tiffany has lost the latest round of its seven-year trademark battle with the warehouse club giant Costco.The New York-based jeweler has been challenging its sale of generic diamond engagement rings bearing the "Tiffany" name.Tiffany & Co was awarded $21m in damages in 2013 after a US district judge ruled that Costco had acted in bad faith by using its name to describe setting...Read More

(IDEX Online) - Pandora posted a second-quarter loss of $27.9m and warned that recent surges in COVID-19 infections would continue to stall its recovery.By contrast, the Danish jewelry retail giant, best known for its charm bracelets, made a Q2 profit of $84.3m in 2019.The pandemic forced the closure of 90 per cent of its 7,300 outlets and in Q1 of 2020 saw the company report a $3.5m loss. Revenue...Read More

The CIS export billet market was under pressure from lower bids from foreign customers early this week, Fastmarkets has heard, and trading activity on Tuesday August 18 was limited.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $397 per tonne on August 18, down by $3 per tonne day on day.Customers in Turkey were ready to pay $410 per tonne cfr for material with prompt deliv...Read More