David

Markets react – what gold, stock prices say about election outcome As of 11:00 pm EST, the precious metals and equities futures markets are favoring a Trump re-election, this according to Peter Hug, global trading director of Kitco Metals. Gold fell 1.19% as of 9:30 pm EST, but rebounded when President Trump narrowed the lead from Vice President Joe Biden. As of 11:30 pm EST, gold is down 0.6%, the S&P 500 futures are up 1.3%, NASDAQ futures up 3%,…

Cameco calls tax decision 'incredibly disheartening and unfair' Cameco (NYSE:CCJ) received notice last week that Canada Revenue Agency has sought leave from the Supreme Court of Canada to appeal the June 26, 2020 decision of the Federal Court of Appeal, which found in favour of Cameco in its dispute of reassessments issued by CRA for the 2003, 2005 and 2006 tax years.   After two clear and decisive rulings in our favour from the Tax Court of Canada and the…

Markets getting starved for capital by 'casino-like funds' The mining industry is facing competition from passively-managed index funds which pull capital away from individual mining companies, said Jeff Christian, managing partner of CPM Group. “There’s a shift in the buy-side of the finance market away from investing in smaller companies and individual companies, and that has been reducing the amount of money readily available for mining investments,” Christian said. Christian noted that some of these passive index funds are beating…

The election is just days away, is gold the biggest winner? What was the real reason why gold tanked this week and what are the expectations come election day Tuesday? This week, gold dropped well below its key $1,900 an ounce level after being stuck there for weeks. Analysts pointed to higher U.S. dollar, lower equities and options expiration as the main reasons for the drop. But behind all of that noise were election jitters and more coronavirus fears as…

PRECIOUS-Gold firms as dollar dips, coronavirus concerns grow By Eileen Soreng Oct 30 (Reuters) – Gold prices rose on Friday, as the dollar retreated, supported by worries of soaring coronavirus cases in the United States and Europe as well as uncertainty over the upcoming U.S. presidential election. Spot gold rose 0.5% to $1,875.76 per ounce by 357 GMT, but was on track for a third straight month of declines. U.S. gold futures were up 0.5% at $1,877. The dollar index…

Gold Demand Trends Q3 2020 29 October, 2020 Q3 gold demand 19% lower y-o-y at 892t Strong growth in global investment demand for gold in Q3 partly offset weakness elsewhere as COVID-19 remained in the driving seat. Demand for gold dropped to 892.3t in Q3 – its lowest quarterly total since Q3 2009 – as consumers and investors continued to battle the effects of the global pandemic. At 2,972.1t year-to-date (y-t-d) demand is 10% below the same period of 2019.…

Inflation is coming, preserve your wealth with gold – Degussa chief economist   Consumer prices may be showing muted inflation pressures as the world continues to feels the effects of the COVID-19 pandemic but a major inflation threat is looming on the horizon according to one chief economist. Thorsten Polleit, chief economist at Degussa In a telephone interview with Kitco News, Thorsten Polleit, chief economist at Degussa, said that instead of focusing on consumer inflation, investors need to pay more…

Gold ticks up ahead of the EU session Gold moved higher during the Asian session after the greenback lost some ground. Once again the yellow metal starts the EU session trading around the $1900 per ounce level. After the rout in stock markets in the US session, the Asian bourses held up pretty well. The ASX was the main laggard falling 1.70% but the Nikkei 225 (-0.04%), Shanghai Composite (0.10%) and Hang Seng (-0.75%) showed broad-based mixed sentiment. Silver is…

Fed Chair – 80% of global central banks considering digital currencies At a panel hosed by the International Monetary Fund earlier this week, Federal Reserve Chair Jerome Powell said that 80% of central banks around the world are exploring the idea of issuing central bank digital currency (CBDC), although the U.S. Fed has not made a decision to follow suit at this time. Powell’s statement echoes a research report released by the Bank for International Settlements (BIS) in January which…

SIDEX tripled its assets investing in this mining jurisdiction SIDEX is a fund that invests exclusively in junior exploration companies in Quebec, Canada. Since inception, the fund has grown by nearly three times. “The $50 million that was injected 20 years ago by our limited partners…since then we’ve returned $16 million, leaving a net money at play of $34 million, and our fund today is valued at about $95 million,” said Paul Carmel, CEO of SIDEX. The fund has two…