There have been rumblings that China may top India as the world’s largest gold consumer. The buzz started at the end of Q1/09, when China’s consumption of gold jewelry and its gold retail investment beat India’s as Indian investors were actually dishoarding.
Jul
23
I came across some investment commentary today from Fred Sturm, chief investment strategist for Mackenzie Financial Corporation (Canada’s largest mutual fund complex, I believe). Sturm is a seasoned pro who has been on the MacKenzie investment team since 1981, and has a reputation as one of Canada’s leading investors in natural ...
Gold could drop to less than $900/oz in the short-term, says U.K.-based consultancy GFMS Ltd. In a statement released last week, the consultancy anticipates that the gold market will be in surplus this year fueled by concerns over the global economy and the health of financial markets. “Moreover, investors will ...
Was the missing $15 million of gold at the Royal Canadian Mint really stolen? That’s the angle the media have played up. But the recent auditor’s report did suggest other possibilities that needed to be investigated. One of them was that the gold may have been lost through the refining process.
A couple of noteworthy news bites over the last few days in the world of base metals and precious metals.
Agnico-Eagle Mines Ltd. (TSX: AEM) yesterday announced it has a new US$600 million revolving credit limit, bringing its total credit line to US$900 million. The Toronto-based gold miner didn’t say what specifically the extra financing would be used for, but did offer a broad sense of where it would apply ...
Yamana Gold Inc. (TSX: YRI, NYSE: AUY) announced earlier this week it will sell three of its non-core operating mines for about US$200 million to fellow Canadian miner Aura Minerals (TSX: ORA). Yamana is selling two mines in Brazil—Sao Francisco and Sao Vincente—and Honduras’ San Andres mine for US$90 million ...
Yields on the 30-year Treasury bonds hit a 2009 high in May when they touched 4.6% last week, almost double the 2.5% hit just six months ago, while oil has moved up to touch $68. What are we to make of these moments? Choose your interpretation.
May
19
The mining industry has had a wild ride since the markets collapsed last fall, with gold bouncing between a close price of $712/oz and $993/oz between September and today. Gold’s average price during this time has been $859/oz and today it’s at about $926/oz. The yellow metal is down but ...