The amount of gold mined in a year is only about 1.5% of the total existing stock of gold, which is why changes in gold production have almost no effect on the gold price. It is also why changes in the cost of mining gold do not affect the gold price. In fact, cause and effect works the other way around the change in the market price of gold determines, with a lag, the average cost of mining g...Read More
By Gary SavageThis video examines the current daily cycles in the dollar and euro and suggests caution is warranted for the gold market.https://blog.smartmoneytrackerpremium.com/ Read More
Prices for commodity-grade hollow sections increased by $5-10 per tonne in Southern Europe this week, with Italian tube producers continuing to ask customers to pay higher prices.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-655 ($771-808) per tonne on Wednesday, compared with ?,?620-645 per tonne delivered last week.Domestic Northern European hollow secti...Read More
Turkish pipe export prices continued to rise in line with stronger prices for pipemaking raw materials, although demand for finished products was still sluggish, sources said on Wednesday February 14.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $680-690 per tonne fob on February 14, up from $670-680...Read More
Source: BloombergGold on Wednesday enjoyed its best trading day since June 24, 2016 when financial markets were shocked by Britain voting to leave the European Union.The most active gold futures contract on the Comex market in New York touched a high of $1,358.60 an ounce in midday trade, up more than 2% or nearly $30 an ounce compared to Tuesday's settlement after inflation data in the US came in...Read More
Domestic prices in Northern Europe for hot-dipped galvanized coil (HDG) have increased again this week, following the upward trend settled in the region's wider flat steel markets, sources told Metal Bulletin on Wednesday February 14.Metal Bulletin's weekly price assessment for domestic HDG in Northern Europe was ?,?680-700 ($839-863) per tonne ex-works this week, compared with ?,?670-690 per tonn...Read More
RAPAPORT... The Diamond Producers Association (DPA) has launched a newvideo ad campaign for the 2018 Winter Olympics in Pyeongchang,highlighting the connection between diamonds and athletes. The series, called "The Making of a Gem," features videos ofa diamond-wearing snowboarder, an ice-skating pair and and a women's hockey team inaction. The series aims to demonstrate the similarities betwe...Read More
Domestic prices for cold-rolled coil (CRC) are expected to grow this month following the upward trend in the hot-rolled coil (HRC) market, sources told Metal Bulletin on Wednesday February 14.Metal Bulletin's weekly price assessment for domestic CRC in Southern Europe was ?,?640-645 ($789-795) per tonne ex-works on February 14, compared with ?,?625-650 per tonne ex-works. The assessment reflected...Read More
RAPAPORT... The Israeli government has pledged $284 million (NIS 1 billion) to guarantee bank loans to diamond companies in an effort to easethe trade's severe credit difficulties. A lack of credit is stifling growth, especially among the smallerfirms that constitute about 70% of the Israeli trade, according to a specialcommittee set up to investigate the sector's challenges. The team - led...Read More
(IDEX Online) - The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, has installed a 34.8 kilowatt solar roof (pictured above) at its grading and inscription facility in Surat, India, to provide the operation with a renewable energy supply. Generating an average of 56,000 units of electricity each year, the solar plant will reduce the heat load of t...Read More
European mills insist in higher domestic prices for hot-rolled coil (HRC) following the positive trend settled in the market, sources told Metal Bulletin.The upward trend settled in the EU coil market has been supported by a combination of decreased production of domestic material in Italy and the effects of trade defense measures.Sources of imported HRC have been limited since the European Commis...Read More
VANCOUVER (miningweekly.com) – Mountain Province Diamonds' first diamond tender of the year broke all records in terms of revenue and customer activity.The TSX- and Nasdaq-listed company said the sale of 351 000 ct of rough diamonds has resulted in Mountain Province's highest revenue result to date, with total sale proceeds of $27.3-million, which gives an average value of $78/ct.Adv...Read More
RAPAPORT... Gem Diamonds has appointed Kelebone Leisanyane as CEO of Let??engDiamonds, the miner said last week. Leisanyane, the former CEO of the Lesotho National Development Corporation,took over the position from Jeff Leaver in January. Leaver will continue towork for Let??eng in an advisory capacity. Let??eng Diamonds owns and operates the Let??eng mine, in which Gem Diamonds holds a 70% stake...Read More
Base metals prices on the London Metal Exchange took advantage of the weakening dollar to close higher across the board on Wednesday February 14, with nickel leading the charge."LME prices strengthened further on a lack of Chinese selling and a softer US dollar, which saw upside stops triggered with an accompanying sharp increase in turnover. 5pm closes were all up on the day and just off the high...Read More
(IDEX Online) - More than 90% of the exhibitors who participated in the inaugural CARAT+ 2017 will be taking part in the May 2018 event. The latest figures reveal high-levels of satisfaction among exhibitors and a shared commitment to make CARAT+ the most successful diamond event in the world, according to show Founder and Event Director, Filip Van Laere. The second edition of CARAT...Read More
The latest metal markets news and price moves to start the North American day on Wednesday February 14. Base metals prices on the London Metal Exchange were mostly consolidating during morning trading, with the complex trying to stabilize after two days of rebounds. "Despite the low volumes, the resilience of the markets at their new higher levels is impressive, there is some light short-covering...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday February 14.Base prices on the Shanghai Futures Exchange rose during Asian morning trading on Wednesday, the last trading day before the Lunar New Year break. Check Metal Bulletin's live futures report here. LME snapshot at 02.00 am London timeLatest three-month LME Prices Price (...Read More
Base metals on the London Metal Exchange are for the most part consolidating this morning, Wednesday February 14. Nickel prices are the most energetic with a 0.7% gain to $13,520 per tonne, the others are ranged between down 0.2% and up 0.3%, with copper prices unchanged at $7,017 per tonne.Volume has been below average, with 7,611 lots traded as of 07.19 am London time. This follows a second day...Read More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More