Oct 22, 2019 Guest(s): Doug Groh Portfolio Manager, Tocqueville Several countries around the world, including the UAE, are establishing a federal platform for gold trading, and this may signal an overvaluation of the U.S. dollar, or that countries are moving away from the dollar for gold denomination, says Doug Groh, portfolio manager of Tocqueville. "It really says a lot about the currency. The...Read More
If investors bring proper tactics to the table, gold price reactions can be exhilarating.Please click here now. Double-click to enlarge this GDX daily chart.There's nothing more satisfying than buying a market near a low and selling near a high.The key to doing that is buying near a previous low, either with very small size or with a stoploss just under that low.In the case of GDX, the time is no...Read More
The benchmark London Metal Exchange cash/three-month spread is once more trading in a contango of around $20 per tonne on Tuesday October 22 following a period of deep and sustained backwardation up until yesterday when the spread was in a $108 per tonne backwardation. The LME cash/three-month nickel spread has traded in an intermittent backwardation since January 2019. It slipped into a $39 per t...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
Europe's largest copper producer, Aurubis, has announced its annual copper cathode premium for 2020 at $96 per tonne, unchanged from last year's level, the company confirmed to Fastmarkets on Tuesday October 22. Aurubis spokesperson Malte Blomback confirmed the annual premium to Fastmarkets this afternoon, while market participants also suggested that the company would begin contractual negotiatio...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comOct 22, 2019 If investors bring proper tactics to the table, gold price reactions can be exhilarating. Please click here now. Double-click to enlarge this GDX daily chart. There’s nothing more satisfying than buying a market near a low and selling near a high.The key to doing that is...Read More
The mining and mineral exploration industry welcomed the news on Tuesday, but stressed the need to improve Canada's global competitiveness."It will be important to ensure our sector is a key aspect of federal government policy as providing a competitive investment climate is critical to the success of our industry and the contribution we make to the overall strength of the Canadian economy," Minin...Read More
The Moscow-headquartered firm increased gold production by 10% quarter on quarter and 9% year on year to 753koz. Volumes of ore mined rose by 38% quarter on quarter, driven by intensified mining activities at the Blagodatnoye mine in central Russia and the Natalka mine in Russia's far east."Polyus has had a strong third quarter, setting a new historical high in quarterly total gold output, with 75...Read More
The numbers were, however, 5.2% down year on year, while year-to-date revenues lagged by 1.2%, sliding from $85.5 million in 2018 to $84.1 million this year.Read More
"Dan's appointment is intended to accelerate operational and efficiency improvements at our North American sites, while continuing to enhance the region's safety performance," president and CEO Tom Palmer said.He also thanked White, who had held the role since the company merger in April and was previously Goldcorp's COO, for his service.Janney had previously been a technical consultant in Turkey...Read More
Vancouver, BC - Venzee Technologies Inc. (TSX-V: VENZ) (the "Corporation" or "Venzee") is pleased to announce the addition of two additional revenue-generating Fortune 1000 manufacturing clients based in the United States and acquired through Venzee's previously announced partner engagement sales model. Both clients are marquee name global manufacturers using the Venzee platform for automated and...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
Clint SiegnerThe Wall Street Journal's Jason Zweig famously referred to gold as a "Pet Rock" in 2015. He was blasted by people who understand that gold is no passing fad, and it serves some very important roles in an investment portfolio.The valuable roles played by gold have been well covered here. It's a hedge against both inflation and deflation, it represents true diversification for por...Read More
By: Ira EpsteinGold might be heading back to $1475 support area, the daily chart shows no-man's land..Read More
Chinese vanadium exporters continued to lower offers amid minimal buying interest abroad, while European and US ferro-vanadium prices continued to suffer from lackluster consumer interest. Chinese exporters reduce offers amid limited buying interest abroadEU FeV market suffers from lackluster consumer spot demandEU V2O5 suppliers lower offers amid falling FeV priceUS FeV market slumps under press...Read More
The London Metal Exchange has no plans to stop adding to its contract suite, with new additions expected in 2020, chief executive Matthew Chamberlain told Fastmarkets. After launching seven new cash-settled futures contracts in March 2019, the exchange will listen to market participants' requests for new hedging options."We are very keen to do more contracts in 2020, it is in the plan and in the b...Read More
The London Metal Exchange has no plans to stop adding to its contract suite, with new additions expected in 2020, chief executive Matthew Chamberlain told Fastmarkets. After launching seven new cash-settled futures contracts in March 2019, the exchange will listen to market participants' requests for new hedging options."We are very keen to do more contracts in 2020, it is in the plan and in the b...Read More
China's ferro-silicon market was split between a weakening export price and a steady domestic price last week, with exporters battling soft demand and supplier competition while production cuts supported domestic rates.In Europe, prices have consolidated recent price gains, although the recent rally looks short-lived because export offers into Europe have appeared from Kazakhstan. There are no ant...Read More
Prices for most grades of ferrous scrap in Mexico fell in the week ended Friday October 18, with mills continuing to apply price cuts while they adjusted to recent settlements in the United States and other regions.One mill in the Baj?-o region applied a price cut of 200 pesos ($10.45) per tonne last week. And although its supply of scrap has reduced, it has so far given no sign of reversing this...Read More
The Ontario government is bringing more transparency to electricity bills for Ontarians. Effective November 1, 2019, electricity bills will show the true cost of power and will include the new Ontario Electricity Rebate.Under the previous government, the electricity rebate provided to Ontarians was concealed within the price-per-kilowatt-hour line item on electricity statements. This meant custome...Read More