Frank Holmes is the CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors.Read More
Just when everyone was getting used to gold sitting around and doing nothing while tech stocks provided non-stop thrills and chills, the metal took Continue...Read More
SHANGHAI, Apr 11 (SMM) – Most base metals futures gained on Wednesday April 11 except for SHFE tin. Nickel rose over 1%, while copper, aluminium, lead, and zinc inched up.Ferrous metals went down across the board as coke led the loss with a 2.5% drop. Coking coal dipped nearly 1.7%, hot-rolled coil slid over 1%, while iron ore and rebar were down almost 1%.Copper: Dragged by the underperform...Read More
Stainless steel prices in Asia are likely to remain bearish on expectations of continued low demand in the second quarter of the year, while prices in North America are likely to be supported by the Section 232 import tariffs in the United States.Asian outlook bearishEast Asian import prices for stainless steel are likely either to decline further or to hold relatively steady at low levels during...Read More
SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market traded at a discount of 30 yuan/mt to a premium of 40 yuan/mt on Wednesday April 11, SMM learned. This compared with a premium of 30-90 yuan/mt on the previous day.During the day, spot offers dipped in line with the SHFE 1806 contract which fell to 51,000 yuan/mt. While sellers were keen to destock, prices of higher-grade copper fel...Read More
The PFS points to an initial capex of US$22.7 million, thanks to the amount of infrastructure at the past-producing mine, an internal rate of return of 40% and payback within 2.3 years of the flagged 2019 start.Read More
The company said all-round improvements got it to 40,452 ounces of gold at the Yaramoko underground mine in the March quarter, 13.6% higher than the first quarter of 2017 and a similar jump on the December quarter.Read More
RAPAPORT... Swiss-based luxury jeweler De Grisogonoplans to cut up to 41 positions after a challenging high-end market resulted inpoor sales."Despite considerable investments and allthe efforts of employees, [salesof high jewelry] have not reached anticipated levels,due in part to challenging conditions in some key markets," the company said ina statement Monday. "As a consequence, the company's i...Read More
SHANGHAI, Apr 11 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDespite potential lower tariffs indicated by Chinese President Xi Jinping, the US dollar edged down 0.23 to 89.6 overnight while the euro gained. Base metals rose across the board except for tin. LME aluminium climbed 3.7% to a record high in two months, driven by US s...Read More
(IDEX Online) - AGS Laboratories said it is offering laser inscription removal and recutting services via Advanced Diamonds, a Las Vegas diamond cutting service. "AGS Laboratories saw a need to establish a professional relationship with a well-respected diamond cutter with a local presence," said Jason Quick, Laboratory Director of AGS Laboratories. "This service will further support our c...Read More
The Robert Friedland-led company rose 8.81% yesterday to C$2.84 as it announced former South African president Kgalema Motlanthe had joined its board of directors."Mr Motlanthe is widely recognised as one of the African continent's wise men," Friedland said.He said Mr Motlanthe's commitment to securing tangible benefits for communities complemented Ivanhoe's dedication to delivering shared benefit...Read More
RAPAPORT... De Beers has launchedthree new retail locations in Russia and Saudi Arabia for its De Beers DiamondJewellers chain. The company has openedone chain in Riyadh, its first Saudi Arabia location, at the Centria Mall, inpartnership with Saudi Jawahir Trading Company. The jeweler has alsoinaugurated two new stores on Petrovka Street and in the Vremena Goda mall inMoscow, for which...Read More
European mills producing hollow sections are unhappy with current pricing and intend to issue higher offer prices over the next few weeks, market sources told Metal Bulletin on Wednesday April 11."The development of tube prices does not match that of flat steel," one Southern European producer said."None of the pipemakers are happy with the current situation. They're all confronted with higher coi...Read More
SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market was offered between a discount of 10 yuan/mt and a premium of 40 yuan/mt on the morning of Wednesday April 11, SMM learned. This compared with premiums of 50-90 yuan/mt on the morning of April 10. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our rese...Read More
"Search volumes on Google for keywords related to precious metals are down on average about two-thirds over the last 14 years," the CEO of bullion trader Sharps Pixley said this week."In short, gold is struggling to find friends."He said the gold market was small but mighty yet was "off the radar" for many journalists, and echoed Oscar Wilde's words that the only thing worse than being talked abou...Read More
RAPAPORT... Alrosa's sales leaped20% year on year in the first quarter, as demand for medium-sized and largerough diamonds strengthened. Total sales for thethree months ending March 31 rose to $1.61 billion, of which $1.58 billion wasfrom rough sales and $23.7 million from polished. "In January to March, world markets saw higher demand formedium-and large-size rough diamonds compared to the same...Read More
Turkish pipe export prices have gone down slightly this month, in line with weak demand for such products and falling costs for pipe-making raw materials, sources said on Wednesday April 11.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $675-685 per tonne fob on April 11, down from last month's...Read More
SHANGHAI, Apr 11 (SMM) –Copper: As crude oil soared overnight, LME copper climbed above the 40- and 60-day moving averages as investors added their longs. It stood above the 60-day moving average at opening today and is likely to trade at $6,930-6,990/mt. The SHFE 1805 contract mostly traded between the 20- and 40-day moving averages with strong momentum overnight. We expect i...Read More
RAPAPORT PRESS RELEASE, April 11, 2018, New York: Diamond prices stabilized in March, but sentiment softened after a positive start to the year. Dealers were disappointed with the Hong Kong diamond show, while a major bank fraud involving two Indian jewelry companies impacted confidence as well. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds slid 0.1% in March. RAPI for 0.30-carat stones...Read More