Marc Faber under fire for racist comments

Marc Faber in 2014. Image from archives Well-known market commentator, contrarian investor and gold bull, Marc Faber, is coming under fire for comments made in his latest missive for the Gloom, Boom & Doom Report. In the October edition of  the newsletter Swiss-born Faber who lives in Thailand writes: “And thank God white people populated America, and […]

Gold Prices Subdued Despite Re-emerged Geopolitical Tensions and Indian Festivals

GOLD PRICES extended their fall on Tuesday morning in London as the Dollar continued to rise amid speculation of potential new Fed chief and continuing geopolitical tensions in the Middle East and the Korean peninsula, writes Steffen Grosshauser at BullionVault. Gold slid to $1288 after touching a 3-week high in the previous session before falling […]

MCX launches India's first gold options contract

India’s Multi Commodity Exchange (MCX) on Tuesday launched the country’s first gold options contract in New Delhi to coincide with the gold-buying festival of Dhanteras. “Gold Option contract, with Gold (1 Kg) futures as underlying, expiring on Nov. 28, 2017, and Jan. 29, 2018, are made available for trading from today,” the exchange said in […]

Oreninc Index Update: October 16th, 2017

Last week index score: 30.76 (Updated) This week: 61.98 NuLegacy Gold (TSXV:NUG) commenced a fourteen-hole 16,000 feet reverse circulation and core drilling program to follow up on the successes of its 30-hole (~27,000 ft.) summer program.   Oreninc Mining Deal Club Before we dive into this weeks’ numbers, we are excited to tell you about the Oreninc […]

An aggressive gold exploration play

U.S. Gold Corp. (USAU:NASDAQ) is drilling a massive gold project. With Gold Standard Ventures Corp.’s (GSV:TSX.V; GSV:NYSE) Dave Mathewson at the helm for exploration, this is a must-have for any gold portfolio looking for some potential luster with elephant-sized discovery potential. Here are the key takeaways from its recent press release: 1. A new drilling program at Gold […]

Investors pile into Peru’s $2 billion Michiquillay copper project

More than 20 companies are hoping to grab one of Peru’s hottest copper assets, as the country readies to auction off the rights to develop it in December, authorities said Monday. The $2 billion Michiquillay copper project, located in the country’s northern Cajamarca region, was originally scheduled to be auctioned off next month, but state bidding […]

Sibanye scraps planned closure of loss-making South African mines

South African precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Monday it has decided not to close some of its platinum operations in South Africa, as it has achieved bigger than expected cost-savings from recently acquired businesses. The miner, South Africa’s largest gold producer and the world’s third largest producer of palladium and platinum, had warned in […]

LBMA 2017: Spain, Silver and 'Lower Forever'

Precious metals history and macro-outlook from LBMA conference… LITTLE so far on precious metals prices or supply and demand at LBMA 2017 here in Barcelona, writes Adrian Ash at BullionVault. Not directly at least. But the market itself cares little about price direction. The refiners, carriers, vaulters, dealers, brokers and bankers meeting at the London […]

The Gold Worm on the Yuan Hook

Once again, I turn over in my mind the Chinese plan regarding their imported oil, which consists in convincing their oil suppliers to accept yuan in payment (and thus re-directing their sales outside the orbit of the US dollar) with an additional sweetener in case the oil exporters do not wish to hold assets denominated […]

TheDailyGold Premium Update #539

The 28-page update was published and emailed to subscribers early Sunday AM. This update includes our short-term outlook on the sector as well as preferred buy targets on most of our companies. We also introduce two new companies. One is something we are eyeing over the short to medium term while the other is a […]

Raymond James Recommends Gold?

From King World News on October 12th:

With very little in the U.S. stock market looking like a low-risk entry, consider gold as an alternative option. Recall, the metal broke the downtrend that had been in place since 2011 back a couple of months ago, and has now pulled back to that former resistance line. It should now offer some support, and the 40-week moving average also sits around there, further adding to the importance of the zone (see bullish breakout and test of support below). (click to enlarge):

This graphic above from the KWN report is based on chart-reading analysis. I’m not a big “chartist” or “technicals” advocate, but hedge fund algos and day-traders love to chase “technicals” and price velocity – in either direction. To that extent, the completion of chart “formations” can become a self-fulling prophecy.

Having said that, the fundamental support for substantial upside adjustment to the price of gold becomes more compelling the day, not the least of which is an accel..

Gold miners’ Q3’17 preview

With the third quarter’s earnings season now underway, the gold miners will soon join in and report their latest results. No data is more highly anticipated by investors, for good reason. Quarterly reports dispel the dense fogs of herd sentiment that usually obscure gold stocks, revealing their operations’ underlying fundamental realities. Q3’17’s upcoming results are likely to prove quite bullish for this neglected sector.

Four times a year publicly-traded companies release treasure troves of valuable information in the form of quarterly reports. Companies trading in the States are required to file 10-Qs with the US Securities and Exchange Commission by 45 calendar days after quarter-ends. The gold miners generally release their quarterly reports in the latter half of this span. So Q3’17’s will arrive between late October and mid-November.

After spending decades intensely studying and actively trading this contrarian sector, there’s no gold-stock data I look forward to more than the..

Yuan and gold

In the previous editions of the Market Overview, we have already analyzed the relationship between gold and some major world currencies, such as the U.S. dollar, the euro, or the Japanese yen. But what is the link between the Chinese yuan (officially: renminbi) and the yellow metal? Let’s check it out.

Chart 1: The USD/CNY exchange rate (red line, right axis) and the price of gold (yellow line, left axis, London P.M. Fix) from January 1981 to September 2017.

As one can see in the chart above, there is no clear long-term relationship between the yellow metal and the USD/CNY exchange rate. It is hardly surprising, as the exchange rate of the renminbi was set not by market forces but by the authorities for most of its history. In the beginning (until the 1970s, when the Chinese government started to liberalize the command economy), the yuan was overvalued to support imports and reduce the country’s dependence on imported manufactured goods. However, it was devalued to 8.74 in 1994 to su..

11 Stunning Visualizations of Gold Show Its Value and Rarity

Gold packs a high amount of value in a tiny package – and these gold cube visualizations help put the value and extreme rarity of gold in perspective.

The post 11 Stunning Visualizations of Gold Show Its Value and Rarity appeared first on The Money Project.

B2Gold up on higher-than-expected production

Shares in B2Gold Corp (TSX:BTO; NYSE: BTG) were up on Friday after the mid-tier miner reported better-than expected gold production for the third quarter of the year.

The Canadian company logged an output of 135,628 ounces of gold, which included 6,340 ounces of pre-commercial production from its newly built Fekola mine in Mali.

Consolidated output exceeded the original budget by 2% (or 2,254 ounces) and reforecast production by 15% (or 17,372 ounces), which the company attributed to “very strong” operational performances of both its Masbate mine in the Philippines and the Otjikoto operation in Namibia as well as the successful early start-up of the Fekola mine in September.

Consolidated output exceeded the original budget by 2% (or 2,254 ounces) and reforecast production by 15% (or 17,372 ounces)
The Vancouver-based miner said it expects production of between 50,000 and 55,000 ounces of gold from its new mine in south-western Mali to bring total production for 2017 to between 530,0..

This new method for getting gold from e-waste may be just what miners need

A small Canadian company’s new way of extracting gold and other precious metals is showing big promise for the mining industry, and for efforts to deal with the growing problem of electronic waste.

The CEO of Vancouver-based EnviroLeach Technologies says the new approach is also the biggest innovation for conventional gold mining in 150 years.

“The advent of cyanide in the 1870’s was the biggest innovation in all of mining history, and this challenges that,” says Duane Nelson. “Our technology has equal-to or better leach kinetics than cyanide, and a much broader base of available ores and concentrates that it can be used on. So this is potentially a game changer for the mining sector.”

New water-based extraction process aims to become an alternative to acid- and cyanide-based leaching.
EnviroLeach’s new plant, a joint venture with electronics giant Jabil Inc., will open in December in Memphis, Tennessee. The 650,000 square foot plant will shred and pulverize discarded circuit boards..

Move over gold, diamonds may become one of the greatest safe-havens

Until now, investors looking for safe-haven assets used to turn to gold or Treasuries. Not anymore. A Singapore-based exchange began trading Tuesday a new standardized diamond product that aims to become one of the most-sought shelters from global risks.

The credit card-sized package of diamonds, named Diamond Bullion, also seeks to remove some of the main obstacles for trading precious stones — the subjectivity of their value.

Diamond Bullion is a credit card-sized package of diamonds sourced at wholesale prices on the Singapore Diamond Investment Exchange.
Launched by the Singapore Diamond Investment Exchange (SDiX), the new product is designed to store and display investment-grade polished gems sourced at wholesale prices on SDiX and issued in standard denominations of about $100,000 and $200,000 each.

“Until now, there was no way people could invest in diamonds in the form which is equivalent to investing in gold,” Alain Vandenborre, executive chairman and founder of the exchang..

Goldcorp chairman says mining companies are making two big mistakes

In this interview with SmallCapPower at Mines and Money Americas 2017, Goldcorp Inc. (TSX:G) Chairman Ian Telfer talks about the state of the global gold mining industry and reveals two big mistakes he believes mining companies are making.

The post Goldcorp chairman says mining companies are making two big mistakes appeared first on MINING.com.

Tanzanian troubles drag down Barrick’s production

Canada’s Barrick Gold (TSX, NYSE:ABX), the world’s top bullion producer by volume, reported Thursday a drop in production during the third quarter due mainly to ongoing issues between its majority owned subsidiary Acacia Mining (LON:ACA) and the Tanzanian government.

The Toronto-based miner said preliminary results show it produced 1.24 million ounces of gold in the quarter ended Sept 30, less than the 1.38 million ounces produced a year earlier.

The average market price for gold in quarter fell to $1,278 per ounce from $1,333, Barrick said.

Acacia Mining sold less gold than it produced as a result of a ban on exports of gold and copper concentrate in Tanzania.
Acacia Mining, Tanzania's No.1 gold producer, has faced government pressure in the East African nation since March, when President John Magufuli imposed a ban on gold concentrate, which represents about a third of the company’s output.

Further hurdles, including permit issues and curtailed operations at its main Tanzan..