Gold

A report in the FT notes the Chinese manufacturing sector has made a surprisingly strong start to the year, as the purchasing managers index (PMI), an important gauge of factory growth, rose to 50.5 in January from 50.3 a month earlier. The result helped underpin recent strength in metals prices, Standard Bank wrote in a [...]

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Media reports suggests that India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil. Citing an Israeli intelligence website, The Times of India has reported that India is opting for gold to repay [...]

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A lot of headlines are underscoring the strong year-to-date performance of precious metals. Gold is set to have the best January since 2008, while silver is poised for a record January compared to the last thirty years. Even platinum and palladium are up 15.8 percent and 5.7 percent year to date, respectively. Yet in large [...]

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I love when people forward me fun metals stories like this one, noting fashion designer Jean Paul Gaultier announced his product debut in the metals industry with a designer-embossed, one-ounce gold bar. According to a couple of press accounts, Gaultier, through his distributor, Dillon Gage Metals, appears to have commanded a 10 percent premium along [...]

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Source: blog.pennlive.com Not sure if Gollum has a portfolio for his precious (metals, that is), but if he did, he’d be reading MetalMiner. More to the point, if he institutionally invested in funds physically backed with gold, silver, platinum and palladium, or if his company had a significant silver or PGM buy, Gollum would definitely [...]

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Two days ago, a friend of mine dropped me a note asking me what I knew or had heard about a rehypothecation scandal involving metals or industrial metals. Rehypothecation? I’m supposed to know what rehypothecation means? Quick check on Wikipedia — ah yes: “Rehypothecation is a practice that occurs principally in the financial markets, where [...]

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Commodity demand, namely for industrial metals such as copper and nickel, and their corresponding prices, has finally pushed Rio Tinto, HudBay Minerals and other companies to begin resurrecting long-slumbering mines, mine sites and mills in Michigan’s Upper Peninsula. Once the center of North America’s copper operations in the 19th century, the ËœUP,’ as it’s known, [...]

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A draft of the European Commission study on joint Ëœeurobonds,’ reported by the Financial Times last week, makes the intriguing suggestion that gold could be used as collateral for fundraising by European states being priced out of the commercial market. The idea is that governments would use their physical gold holdings to underwrite if not [...]

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