A digital revolution is reshaping India's $34 billion gold market, with smartphones, e-wallets and flexible investment schemes drawing new buyers into a business dominated by traditional, face-to-face transactions.Digital payment systems have ballooned in popularity in India since the government scrapped large-value bank notes in 2016.Among these offerings are applications that enable smartphone u...Read More
Take a look at the best and worst performing stocks during Easter week from the past 10 yearsNext week is a four-day trading week, as markets are closed for Good Friday. In general, the week before Easter has been kind to investors. The S&P 500 Index (SPX) averages a higher return -- with a higher percent positive -- in the week before Easter, in comparison to other weeks. The two tables below sho...Read More
• A modest USD retracement helps build on overnight rebound from 2-1/2 week lows. • The pace of further Fed rate hikes in 2018 should help determine the near-term trajectory. Gold gained some fresh positive traction on Wednesday and has now recovered a major part of previous session's slide to over 2-week lows. The precious metal continues t...Read More
Canada-listed Fura Gems (TSX-V:FUR), a new gemstone mining and marketing company headed by the former COO of Gemfields (LON:GEM), has kicked off initial production at its Coscuez emerald mine in Colombia.The early output of 1,720 carats of emeralds, including 826 carats of top quality ones, was achieved through a bulk-sampling program carried out within eight weeks of the completing the acquisiti...Read More
Canada-listed Fura Gems (TSX-V:FUR), a new gemstone mining and marketing company headed by the former COO of Gemfields (LON:GEM), has kicked off initial production at its Coscuez emerald mine in Colombia.The early output of 1,720 carats of emeralds, including 826 carats of top quality ones, was achieved through a bulk-sampling program carried out within eight weeks of the completing the acquisiti...Read More
Indonesia's state mining holding company, PT Inalum, expects to reach an agreement soon on bank financing to buy a controlling stake in the local unit of Freeport McMoran Inc, the holding company's chief executive said on Wednesday.Indonesia and Freeport have agreed in principle that the U.S. miner would divest 51 percent of its local unit with funding provided by Inalum for the purchase of the ri...Read More
Indonesia's state mining holding company, PT Inalum, expects to reach an agreement soon on bank financing to buy a controlling stake in the local unit of Freeport McMoran Inc, the holding company's chief executive said on Wednesday.Indonesia and Freeport have agreed in principle that the U.S. miner would divest 51 percent of its local unit with funding provided by Inalum for the purchase of the ri...Read More
Indonesia's state mining holding company, PT Inalum, expects to reach an agreement soon on bank financing to buy a controlling stake in the local unit of Freeport McMoran Inc, the holding company's chief executive said on Wednesday.Indonesia and Freeport have agreed in principle that the U.S. miner would divest 51 percent of its local unit with funding provided by Inalum for the purchase of the ri...Read More
British Columbia's ministries of environment and energy have issued an environmental assessment certificate to BURNCO Rock Products' 70-hectare sand, gravel and rock mine, located on the northwest shore of Howe Sound.Known as the BURNCO project, the mine sits approximately 22 kilometres southwest of Squamish and on the traditional territories of the Squamish Nation, Tsleil Waututh Nation, and Musq...Read More
Gold (XAU/USD) could drop to $1,286 (ascending weekly 50-MA) if the Fed revises higher its neutral rate. The options market is bearish on gold The XAU/USD one-month 25 delta risk reversals are being paid at 0.525 XAU puts - level last seen in late December. Also, the chart shows a head-and-shoulders breakdown, meaning the implied volatility premium for XAU puts (sell gold) will likely cont...Read More
A gold mining company is donating $275,000 to help build a vocational and technical education center for Cripple Creek-Victor School District RE-1.Read full newsRead More
Dynasty Gold Congratulates Hecla Mining on Acquisition of Klondex Gold Mines in the Midas Gold Camp, NevadaVancouver, British Columbia (FSCwire) - Dynasty Gold Corp. (TSX-V: DYG) (FWB: D5G) (OTC: DGDCF) (Read full newsRead More
We recognize that we can’t predict the price of gold. Rather, we view gold mining companies the same way we look at any extractive industry:Read full newsRead More
Russian miner Alrosa (MCX:ALRS), the world's top diamond producer by output, has unveiled its synthetics detector, aimed at cracking down on dishonest suppliers that mix lab-made stones with mined diamonds.The portable machine, named ALROSA Diamond Inspector, screens polished diamonds and jewellery, identifying synthetics as well as treated stones or simulants.Alrosa expects the detector's rela...Read More
Dynasty Gold Congratulates Hecla Mining on Acquisition of Klondex Gold Mines in the Midas Gold Camp, NevadaVancouver, British Columbia (FSCwire) - Dynasty Gold Corp. (TSX-V: DYG) (FWB: D5G) (OTC: DGDCF) (Read full newsRead More
SHANGHAI, Mar 21 (SMM) – Nonferrous metals were weak today with SHFE zinc leading the loss with a drop of 1.7%. Copper fell 1.5% while aluminium, nickel, and tin edged down. Lead slumped near closing and closed flat from Tuesday March 20.The ferrous complex saw mixed trading today. Iron ore gained nearly 1%, while coke and coking coal inched up. Hot-rolled coil dropped over 2% and rebar dipp...Read More
SHANGHAI, Mar 21 (SMM) – Prices of prebaked anode will continue to tumble as supply grows after production restrictions are lifted at the end of the heating season, SMM believed. SMM sees downward room in prices, which have declined for three consecutive months. According to SMM, profit margins could be significant if current cash costs for prebaked anode are capped ...Read More
SHANGHAI, Mar 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by bullish sentiment on the US economy and an expected hike in interest rates, the US dollar rebounded to 90. Weak economic data for the eurozone also bolstered the greenback.However, nonferrous metals fell across the board under pressure from the strong dollar. LME...Read More
SHANGHAI, Mar 21 (SMM) –Copper: Copper prices remained under pressure given high inventories and worries of a potential trade war. We expect LME copper to fall to the $6,700/mt level in the short term but with upward momentum in the mid and long term. We see it trading at $6,730-6,790/mt today, with the SHFE 1805contract trading at 50,500-51,000 yuan/mt. In the physical market, dow...Read More