RAPAPORT... Watches of Switzerland set out a five-year plan to expand globally after recording sales growth during a difficult year for the jewelry and timepiece sector.The UK-based company, which owns the Mayors brand, aims to become the leader in the US watch segment and enter the European Union market, it said Thursday. The retailer also intends to continue "outperforming" the UK market, i...Read More

RAPAPORT... Debswana, De Beers' joint venture with Botswana, is pondering the sale of the Damtshaa mine, after it paused production in November amid challenging market conditions.The group placed the mine - one of its lowest-producing assets - on care and maintenance because its operational costs outweighed its marginal cash flow during the coronavirus pandemic. The disposal of the mine is only on...Read More

RAPAPORT... Alrosa recorded its highest sales in five months as steady polished demand and a lack of rough supply boosted trading. Diamond revenue jumped to $410 million in June, up from $31.3 million during the coronavirus crisis a year earlier, the Russian miner reported Friday. Sales rose 12% versus May 2021."Diamond jewelry [is enjoying] strong demand across all the key markets, while rou...Read More

RAPAPORT... Jewelry sales in the US more than doubled in June, as shoppers continued their return to spending amid the reopening of the economy, according to Mastercard SpendingPulse.Sales in the category grew 108% year on year during the month, reflecting a comparison with June of last year, when the Covid-19 pandemic forced many stores to close. However, jewelry spending also rose 59% versus 201...Read More

RAPAPORT... Sotheby's sold a 101.38-carat diamond to an anonymous buyer for $12.3 million, garnering the highest price for any jewel or gemstone purchased with cryptocurrency.The auction house offered the pear-shaped, D-flawless diamond, called The Key 10138, at a single-lot auction on June 9 in Hong Kong, it said last week. The polished stone originated from manufacturer Diacore, and is the secon...Read More

(IDEX Online) - Lucapa reported record revenues for Q2 of 2021 from both at its Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho.The Australian miner described the performances as "very solid".Lulo brought in $28.7m, its highest quarterly revenue, at an average $4,476 per carat as it processed record volumes.A tender of seven top-quality and fancy colored diamonds diamond...Read More

(IDEX Online) - A flawless 101.38-carat diamond has become the most expensive gem ever sold in a cryptocurrency transaction.The pear-shaped D-color Type IIa diamond, named The Key 10138 after its carat weight, fetched $12.3m, to be paid in Bitcoin or Ethereum by an anonymous buyer.It failed to reach its $15m high estimate in a single-lot at Sotheby's Hong Kong on Friday, but came close to bei...Read More

(IDEX Online) - Diamond billionaire Dan Gertler has lost two contracts to explore for oil in Democratic Republic of Congo (DRC).The move was announced by the government's hydrocarbons ministry, which said it was terminating production sharing agreements with two of his companies, Caprikat Ltd. and Foxwhelp Ltd.It is now reported to be considering possible sales of the blocks, along the countr...Read More

In this week's episode of theRead full newsRead More

VANCOUVER, BC / ACCESSWIRE / July 8, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (theRead full newsRead More

The Canadian stocks have turned mixed in July after posting consistent gains in the previous five quarters. The TSX Composite Index is currently trading with 0.5% minor gains for the month. As the latest earnings season is approaching, investors seemed to have turned a little cautious. Nonetheless, I always advise long-term investors can stay focused on buying fundamentally strong stocks without w...Read More

In less than 12 months, Vancouver-based New Found Gold Corp. (TSX: NFG) has transformed from a tiny, unknown gold explorer with a meager CAD$30 million IPO into a CAD$2 billion market darling.And now the company is planning to take their story to the Big Board.New Found Gold announced this week that it has been cleared to apply to list common shares on the NYSE. If approved, the company says it ex...Read More

Here we are, on the back end of a long Fourth of July weekend on a Tuesday morning.It'll be good to be back, good to get things moving along.I've got a three-hour drive from the eastern shore of Maryland back to Baltimore ahead of me though.Right now I'm pretty jazzed about how my sandwich-in-a-bag has the good mustard on it, and that's about the extent of what I've got working for me. I'd bet we...Read More

Here are five Fastmarkets stories you might have missed on Monday July 12 that are worth another look.A group of Brazilian construction and real estate companies received a 20,000-tonne shipment of rebar from Turkey last week, national construction industry chamber CBIC said.The waiting time...Read More

Tin's three-month price on the London Metal Exchange reached a new year-to-date peak of $32,250 per tonne on Monday July 12, with the soldering metal being the star performer while the rest of the base-metals complex fell from their Friday prices.Tin's futures contract was $32,094 per tonne at the close of trading on Monday, a 1.3% rise from its price at the same time on Friday of $31,680 per tonn...Read More

The waiting time to deliver out aluminium at Istim's London Metal Exchange-registered warehouses in Port Klang, Malaysia, was 168 days at the end of June, according to the LME's latest queue report.The queue has been declining very slowly over the past few months, down from 176 days at the end of May and 199 days at the end of April. The queue has been in place since a series of large cancell...Read More

Bob Moriarty ArchivesJul 12, 2021We seem to be in the midst of a minor correction in gold stocks. Gold goes down a little and the gold stocks go down a lot more. It must make sense to someone but not to me. In any case, we are due our typical summer low soon asI talked about in an interview recently.We are moving into the strongest period of the year for the general stock market in the next few we...Read More

Jack ChanPosted Jul 12, 2021Gold sector as represented by $HUI is on a long-term SELL signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal.Short-term signals can last for days and weeks and are more suitable for traders. The 167k bottom and now the 215k top suggest that these are not bull market speculative values. Bull market values should...Read More

Hebei Iron & Steel Group (HBIS), China's second-largest steelmaker, lowered its purchase price for July-delivery silico-manganese to 7,500 yuan ($1,157) per tonne, the company said on Monday July 12.The latest price is 300 yuan lower than the mill's previous purchase price of 7,800 yuan per tonne for June-delivery cargoes.HBIS' price, which applies to cargoes delivered to warehouses, includes valu...Read More

Gains seen at the end of the week in the US came against a backdrop of rising concern about the Delta variant, with Treasury Secretary Janet Yellen saying on Sunday the emergence of new variants could hinder the global economic recovery.Australia has reported the highest daily cases for a year while the UK gears up to reduce restrictions in their entirety from July 19.After positive moves on Frida...Read More