Alcoa Corp has called on the aluminium industry to assess the cost effectiveness of its smelting capacity and make cuts where appropriate - or face a ratcheting up of inventories and a protracted period of low prices. Roy Harvey, the US producer's chief executive officer, said that while curtailments were costly, both financially and in terms of job losses, they were more than necessary at this mo...Read More

While technical indicators only provide CLUES as to the future direction of a stock, bond, or commodity, it's nice to see that silver finally broke the...by Steve St Angelo of SRSrocco ReportNot only is silver having a good day today [FRIDAY, MAY 15TH], but it also broke through a KEY long-term technical level. While many precious metals investors do not follow or believe in technical analysis,...Read More

Gold preserves wealth, but silver can make you rich...by David Morgan of The Morgan ReportSilver is undervalued when you look at the gold-to-silver ratio, which now stands at a staggering 1:106. Silver is riding on the coattails of the gold rally. With a growing universe of negative interest rates, central banks debasing paper currencies, central banks accumulating gold, slowing global growth and...Read More

RAPAPORT... The decline in US retail sales intensified in April as COVID-19 forced stores to shut, according to data the National Retail Federation (NRF) reported.Revenues plunged 22% year on year, and fell 16% compared to March, which had already posted a record-setting 8% month-on-month drop. The NRF based these numbers on official data from the US Census Bureau. April's figures could be im...Read More

RAPAPORT... The trading floor at the Israel Diamond Exchange (IDE) will resume "regular activities" next week, bourse president Yoram Dvash announced in a Facebook post Sunday.From May 24, the hall will function under a new format to ensure it is safe and compliant with government rules, Dvash said, without providing details. The bourse's management approved the move unanimously.The trading f...Read More

RAPAPORT... An Antwerp court has prohibited the World Federation of Diamond Bourses (WFDB) from publicly blacklisting former president Ernie Blom over a payment dispute in Dubai.Blom had sought an injunction to prevent the organization from complying with requests from the Dubai Diamond Exchange (DDE) after the bourse ruled against him last December.The judge sided with Blom on May 12 after h...Read More

RAPAPORT... It could take up to three years for the luxury market to get back on track, as it relies heavily on consumer sentiment and travel, Richemont chairman Johann Rupert predicted."The luxury industry is dependent on customers' willingness to spend - the so-called 'feel-good factor' - and has benefited from increased international travel in recent years," Rupert said last week. "There w...Read More

(IDEX Online) - Diamond exports from India are gradually resuming, as officials in Mumbai introduce a lottery to allow 100 packages a day to leave the country.   Traders chosen at random are allowed to despatch bulk orders, typically to buyers in USA or Dubai waiting for pre-COVID-19 orders to be fulfilled.   The Brihanmumbai Municipal Corporation, which governs the Mumbai area, introduc...Read More

(IDEX Online) - Israel's diamond sector has lost $300m in profit to coronavirus, says Yoram Dvash, president of the country's Diamond Exchange. Trade has declined by 90 per cent, he told the news agency Reuters, and deals worth $1.5bn during March and April were wiped out by the pandemic. Israel is the world's fifth-biggest diamond-trading nation, with the sector accounting for nine...Read More

(IDEX Online) - Angola's diamond production will plunge by over three quarters this year, according to the state-run mining company Endiama.Output from the country's 12 mines totaled 9.2m carats in 2019, grossing $1.26bn, an increase of 10 per cent on the previous year, boosted in part by trading reforms.But COVID-19 continues to adversely affect the world's fourth-biggest diamond-p...Read More

PRIVATE BLOG - Gold & Its Role & the DowPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More

Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or the "Company") is pleased to report mine construction activities at its PureGold Red Lake Mine in Ontario are on schedule for first gold pour before the end of the year.Work to date has proven we have a clear and precise understanding of theRead full newsRead More

Gold jumped more than 1% on Friday to levels last seen in 2012, as renewed U.S.-China trade tensions added to concerns about a deep economic slump due to the coronavirus pandemic.Read full newsRead More

"THE FLIPNPIK ECOSYSTEMA collaborative #socialmedia fueled by the participation of the community ??"?????#ComingSoon #FlipNPik #Geecko #Montreal #Retail #MomentumStockshttps://t.co/9t7NIWGfmu"Read full newsRead More

(Image courtesy of Rio Tinto.) The mining industry is deeply impactedby the covid-19 pandemic, and the situation continues to evolve as the virusspreads throughout the globe. In its latest report on the coronavirus impact on the iron ore market, Fitch Solutions has revised down most of its 2020 mining and metals production and consumption forecasts and warns it will keep adjusting estimates in t...Read More

Sagebrush at the South zone, Red Hill property. Credit: NuLegacy Gold. NuLegacy Gold (TSXV: NUG) has arranged a non-brokered private placement of up to 75 million units at a price of C$0.075 per unit to raise gross proceeds of C$5.62 million.Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant exercisable for one common s...Read More

Disney is now losing one billion dollars per month. This was the stock that all the old guard Wall Street bros loved a few months ago - when the plebes were still willing to part with their precious dollars to watch unoriginal and trite comic book rehashes. All Disney - that stalwart of stalwarts - has done is lose a third of its value since it peaked in early December last year. No one is goin...Read More

Image courtesy of Silvercorp MetalsSilvercorp Metals (TSX: SVM) and Guyana Goldfields (TSX: GUY) have agreed to amend the terms of their merger arrangement, which would see Silvercorp making a significantly higher offer than the previously announced C$105 million deal.The parties came to a new agreement following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party t...Read More

Image from BHP. BHP Petroleum has formed an alliance with Ense??a por Mexico (EPM) and the Ministry of Education of the state government of Tamaulipas (SET), aimed at improving education for the children in Tamaulipas by providing high-quality training to local teachers.In addition to providing quality education, the alliance aims to share innovative practices and academic strategies, as well as...Read More

Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More