Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Completely agree mrtibbles
180k NFP was far too log as forecast and was meant to be exceeded.
No disagreement there from me
SP is still pants compared to what it would be if it were not for the clear up costs, stock will remain at pants level until clear up costs considerably reduced and strip ratios improved!
But if you are long and don’t trade- these movements look more violent on tiny timeframes- in the scheme of things not that great- on a few days ago Mr T you were caning this stock for being poor and yet it’s up about 6% from then in a very short time :-)
As I keep saying, forgot all the waffle and theories just trade data points-
May 2023
In this week’s Live from the Vault, Andrew Maguire reveals the truth about sanctioned “too big to fail” bank bailouts and the effects of Basel III, explaining how they are connected to the global dedollarisation and silver outperforming gold.
From new reports to the possible expansion of BRICS, the precious metals expert lists some of the biggest catalysts driving a bullish quarter for silver, identifying key obstacles to overcome - and the possible counteroffensive from the Elites.
https://www.youtube.com/watch?v=ukJYSD9JhEw
Revisions to previous months show that these figures are a joke
Friday May 05,
The gold market is seeing some solid selling pressure trading near session lows as the U.S. labor market continues to see robust growth.
U.S. nonfarm payrolls rose by 253,000 last month, the Bureau of Labor Statistics said on Friday. The monthly figure was well above the market consensus estimate of 181,000.
At the same time, the U.S. unemployment rate dropped to 3.4%, beating market consensus calls of 3.6%. The unemployment rate fell as the participation rate held steady at 62.6%.
Weakness in the U.S. labor market has been one condition that Federal Reserve has said needs to be met before it looks at ending its tightening cycle. The better-than-expected employment data is weighing on gold days after the precious metal pushed to a record high above $2,080 an ounce. June gold futures last traded at $2,034.50 an ounce, down 1% on the day.
Adam Button, chief currency strategist at Forexlive.com, noted that this is the thirteenth consecutive month that nonfarm payrolls have surprised to the upside.
"This is undoubtedly hawkish and puts the Fed in a real bind. The Fed wants to pause and may soon even need to cut, but the jobs market isn't cooperating," he said.
Another negative for gold was a push higher in wage inflation. The report said that average hourly earnings increased by 16 cents or 0.5% in April, up compared to 0.3% growth in March. Economists were looking for a 0.3% increase.
"Over the past 12 months, average hourly earnings have increased by 4.4%," the report said.
The latest employment data is creating a shift in interest rate expectations. Markets are starting to price out a potential rate cut in July.
Although the headline data was stronger than expected, the report does show a slowing trend as February and March data were revised lower. The report said that March employment data was revised down by 71,000 to 165,000 jobs. At the same time, February's data was revised down to 248,000 jobs, compared to the previous estimate of 326,000.
Hi Steve,
They had to find some way of spanking POG for the Friday afternoon finish!
Those on the inside know these figures two days previously anyway and still there are those who try to claim the markets are a level playing field!
Headline figure 253k over 185k est.
Unemployment falls to 3.4% VS 3.5%
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There are many of us who invest in gold miners for different rationale, as they’re volatile, driven by a few simple drivers, and easier to predict than other stocks- ideal trading stocks.
Most of us have a healthy distrust that includes the elite, the political class wherever it is, global banking and financing systems and the like. What we believe is the value of something that comes out of the ground and has been used for a means of value exchange for 1000's of years. It is real and can not be printed like paper or subdivided like crypto that is not really backed by anything.
The sources I have read were written by Chinese citizens. You may want to read the Centennial Issue of Foreign Affairs September/October 2022 entitled the age of uncertainty. Articles were written by Jessica Chen Weiss, Cai XIA cover what is going on within China. After you have read it perhaps you may want to reconsider your own opinions.
For the record I have many Chinese friends. I am not anti-Chinese people in any way. It is about Xi and what he is now doing to his own people.
What baseless & utterly unfair accusations - the propaganda machine is working well, Goebbels would be envious of what the west has accomplished in turning its citizens into mindless sheep.
Who the Chinese people choose to head their government is up to them, the western world should butt out but despite the furore over other nations supposedly meddling in western elections it is considered acceptable for the west to not just meddle but actively engage in regime change - the blatant hypocrisy is obvious.
You will no doubt say that the Chinese people have no say in their president, it is a system controlled by a small cadre of evil elites. Such an opinion would only serve to demonstrate a complete lack of knowledge of the Chinese political system.
My advice, look at cleaning up the inefficiency, inequity & utter stupidity in your own political system and leave the Chinese to take care of theirs, this one simple change would immediately lead to a much safer world.
Spoon
The issue is Xi and his repression. Prior to his arrival everything you mention spoon was to the credit of the Chinese Government. However, Xi is operating a far more repressive state. The intimidation on families for reporting crimes against Chinese women by Xi staff is appalling. The standards held before Xi came to power have diminished. All the problem of one person party state are manifesting. Of course the West has huge problems at the current time. It does not make the actions of Xi somehow appropriate. Xi is following Putin pathway of one person having supreme power. When power is held by just one person or a small elite the result is usually disastrous as collective intelligence and expression for the greater good is lost.
Thanks RazorsEdge though a lot can happen before the weekend !!
Equities in Europe traded higher in the premarket on Friday ahead of the newest updates on the construction sector in the United Kingdom and retail sales in the Eurozone. Meanwhile, Germany reported a larger-than-expected decline in factory orders.
The DAX rose by 0.43% at 8:03 am CET. At the same time, the FTSE 100 grew by 0.27%. The CAC 40 increased by 0.23%. The Eurostoxx 50 gained 0.22%.
The euro advanced by 0.23% against the dollar at 8:04 am CET to sell for $1.10371. At that moment, the pound sterling went up by 0.24% against the greenback to change hands for $1.26042.
Baha Breaking News (BBN) / JR
Happy Friday y’al
Enjoy your weekend.
Spoonigton: perhaps you should look at other sectors of Chinese life, not just the ones serving your own self-interests?
Such as:
Repression in Xinjiang, re-education camps/prisons.
Fear of Arbitrary Arrest.
Religious Freedom Abuses.
Stifling Freedom of Expression.
Forced Labour.
Assault on Hong Kong's Autonomy.
Severe Restrictions in Tibet
China, like Russia is a brutal totalitarian regime
You should experience life in China & talk to more Chinese people (ones who live there), you will find that the perception of a evil, totalitarian regime running China put forward by western governments & media is so far from the truth that it is ridiculous.
Western politicians, etc feed you these lies so they can tell you that you are free & privileged whilst constantly engaging in far more egregious behaviour than that of the Chinese government.
Have a look at the improvements achieved in the prosperity & well-being of the Chinese people over the last 50 years, pretty impressive especially considering the west’s constant efforts to keep them under the thumb & subservient.
I openly admit I am biased but that bias has come from living in China & marrying into a Chinese family - this experience has exposed me a a attitude of accepting personal responsibility, valuing the family unit and a general aversion to committing crimes against others which is so lacking in modern western society.
We could learn a lot from the Chinese if we stopped trying to create conflict and bothered to share ideas & culture, I certainly have & will be forever greatful for it :)
Then he has admitted a definate threat.
He is lying.
As is normal.
Along with their real reseveves supposedly stached in underground vaults for no inspections.
National Security no doubt , the lack of inspections and audits.
IMHO
With gloomy headlines focusing on the U.S. dollar losing its dominance, Nobel Prize-winning economist Paul Krugman responded that the greenback's global reserve currency status is not worth much to the U.S.
"I can't see any way that … dollar dominance is worth more to America than a fraction of 1 percent of G.D.P.," Krugman wrote in an op-ed published in the NYT.
The economist addressed the theme of de-dollarization and the "dire" consequences some argue it poses to the U.
https://www.kitco.com/news/2023-05-04/Should-U-S-fear-losing-reserve-currency-status-Dollar-dominance-is-not-worth-more-than-fraction-of-1-of-GDP-says-Nobel-Prize-winning-economist.html
Yep, but at least they put a reason behind the recommendation, albeit without the full information...
So perhaps they could share the round table presentation they refer to - others such as Barrick and Endeavour provide regular updates from round tables with analysts etc