Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The price of gold jumped on Thursday after Federal Reserve Chair Jerome Powell once again hinted that the central bank is likely to opt for a slower pace of interest rate increases at its next meeting, scheduled for this month.
The Fed official insisted that the central bank doesn't want to "overtighten" the monetary policy, as the goal is not "to crash the [United States] economy." The comments seemingly prompted the American currency to decline, raising appetite for the yellow metal.
Gold soared 1.53% to go for $1,797.14 per ounce at 9:24 am ET, the highest in over 3 months. Silver grew 0.82%, selling at $22.38 per ounce simultaneously and reaching its highest point since early June. Platinum gained 1.01% to go for $1,046.63 per ounce at 9:25 am ET. Meanwhile, Palladium lost 0.49% to sell for $1,873.35 per ounce at the same time.
Baha Breaking News (BBN) / AY
*Gold price currently $1800.73
110 would see me back in profit :)
The Egyptians have seen a huge drop in their currency. They could be the next Sri Lanka at this rate, their central bank is cherry picking what foreign bills are allowed to be paid as we speak.
https://twitter.com/centaminplc/status/1598270966223740929?s=46&t=YqeLaJMUYb23CF4RUMVfSQ
Any chance gold could repeat 2016 and 2019 when it ros by around a quarter bottoming before Xmas, could we be in the foothills, if only…..
Equities in Europe traded higher in the premarket on Thursday ahead of another series of data that was to be released throughout the day, including the reports on the unemployment rate in the Eurozone, and manufacturing in Germany, the euro area, and the United Kingdom.
The day before, Federal Reserve Chair Jerome Powell signalized the United States' central bank could slow the pace of raising interest rates at its next meeting in December.
The DAX traded 1.37% higher at 6:58 am ET. At the same time, the FTSE 100 rose by 0.52%. The CAC 40 gained 0.84%.
The euro advanced by 0.35% against the dollar at 7:05 am CET to sell for $1.04439. At that minute, the pound sterling grew by 0.37% against the greenback, changing hands for $1.21007.
Breaking News (BBN) / JR
Gold price currently $1780 + .59%
Its normal in BF Cowichan.
Forget Goverment intervervention ,they have no control.
Best out in BF .
The deposits are difficult and really worth little.
Perhaps a gracious gift to Endevour.
were apparently being mined by artisanals - and some violence/deaths have just occurred
Posted 1Hr ago
Adama SORO
Country Manager Endeavour Mining & Président Chamber of Mines of Burkina Faso
#Batie exploration has been damaged by some ASM workers yesterday, this is sad indeed as it is another mine asset damaged. It urges to find a lasting and peaceful solution for cohabitation between ASM and industrial mines. Violence is not and cannot be a solution. We strongly condemn such actions and call on Gov of Burkina Faso to protect all parties. We convey our condolences to those who have lost someone and our quick recovery wish goes to those who have been injured.
The whole mining industry is going through though time due to #security issue #inflation then we should collectively act to preserve assets we are struggling to run in this context. Burkina deserves the best.
Chamber of Mines of Burkina Faso #konkera #mining #ASM #Burkina
https://www.linkedin.com/posts/adamasoro_batie-security-inflation-activity-7003809320953913345-Zb4O
--------------------------------------->>>>
My Thoughts:
Burkina must get its act together quick if it hopes to preserve its mining industry - Endeavour in particular must be extremely nervous.
And it's interesting to note Mr Soro considers these Batie deposits important assets. If only our Centamin leadership was as like minded to preserve them until such time as they could be exploited.
Hi Steve.
As you with FED knowledge will know (but few on here will)Comex is operated by the Chicago Mercantile Exchange Board. Digging deeper will reveal that the FED has close if not total collapsed Chinese Wall relations with the board. However what fascinates me is the extent which the FED can influence and support the losses required to continually depress Comex to what it considers is enabling a support of the dollar. I believe that many I NSTITUTIONAL investors see the cracks appearing (viz the Powell reaction today ) and will trade on what they believe the FED;S ability to keep Comex price subdued.
I believe (as the Chinese say) we live in intersting times.
All conjecture on my part just to add a bit to this great board. Good to see Rebess adding a bit as well.
Kindest regards to all. Guess who got suckered into selling 5000 at 85.5 recently Yep Moi
Bob
As you know, I trade around FED. Moves things a lot more than anything else- apart from RNS from
CEY- and RNS only yield big movements on actual results or issues- the last RNS is another case in point. Inflation top and drop is where's its still at, as drives FED policy
Thanks Steve.
Yes I have noticed on Kitco.
Even Musk is calling them out for Rubbish Statements.
Which are behind the times and like their previous,saying infation was transitory. :-)
If you were wondering why gold and markets were moving
Rebess if a Chamber of Mines has been established in Egypt, I would suggest it would have been the organisation that could be behind the CC resurfacing, not only in support of Centamin but also establishing precedents for the future, benefitting all members.
I haven't been able to confirm that a Chamber has been established but feel sure Tibbs mentioned that one is now in place.
If this is the case and all mining companies are now members, then this organisation will have serious clout and legal strength in depth, so yes, I would hope for a positive outcome.
Good morning Razor
I'm still tune in but don't say much these days. - I'm adopting Miz's style. - Popping up every now and again with a cryptic comment. :) - It's still a good forum with people like yourself forming its backbone through thick and thin. - Some great contributions here, well worth reading I always feel. - Mr Bond, yes, a degree of sarcasm, I put my hand up to that. I do feel however, that Cowichan is keeping them on their toes with his exposes/comments, always well researched and factual. - He reminds me of the 'Sting' song - 'I'll be watching you' and I do believe it's having an effect. - One thing that recently made me sit up was the revival of the CC news. - How very interesting I thought, after all these years it still has life/influence. - You may or may not recall that I predicted that this trump-card, held by the powers that be, would be used, when appropriate, at some future date. - I agree with Cowichan's assessment, assuming I've understood correctly, if a take-over is to be accommodated that suits the controlling powers behind the scenery, then likely that Law 32 will go through. - If however, it is revived in order to finally make a judgement on the original court-case, I'm not assuming that the outcome will be favorable. - The CC trump-card has been held for too long now for it not to have a purpose. - IMO - Good luck one and all.
European stock exchanges were mostly higher in the premarket trading on Wednesday, with all eyes on the key economic data releases.
In the coming hours, investors will receive data on the euro area's consumer price index (CPI) and unemployment rate in Germany. European Central Bank previously warned that Eurozone is "not done with inflation," underlining that economic uncertainty owing to soaring prices of energy still remains high. Germany revealed the day before its annual inflation came in lower than projected with rising prices of energy and food keeping the figure at 10%.
At 8:00 am CET, the DAX dropped by 0.08%, while London's FTSE 100 and the CAC 40 were up by 0.11% at 0.20% respectively.
The euro edged up against the dollar by 0.15%, selling at $1.03418, and the pound sterling was up 0.10% versus the American currency, going to $1.19590 at 7:58 am CET.
Baha Breaking News (BBN) / AB
Happy hump y’al
Always remember..
Isopon waits for no one!
No word of historic Egyptian Pound devaluation in this article - just excessively high bullion demand...
"On Thursday, November 24, 2022, the price of gold in Egypt reached its highest historical level, as the price of the 21-karat gold recorded LE1,373 per gram.
The price of gold in Egypt jumped as a result of a sharp increase in the demand for buying bullion."
https://www.egyptindependent.com/gold-price-hits-highest-rate-in-its-history-in-egypt/
Not sure about your last post.
maybe a little sarcasm , but I maybe wrong.;-). excuse me If not .
Needs a bit of spell checking 'upsdie'
Hello Rebess… I was beginning to believe you were an alias for HRH since you haven’t been seen here since the day before she passed, anyways glad that that theory is ruled out and hope MrTibbles turns up safe and well to.
Maybe he was HRH in drag… hmmm!
Has Cowichan pressure got to them? - I hope so.
https://twitter.com/centaminplc/status/1597561293027909634?s=46&t=aQSUi5tQukONaO2ONausCw
Crysos needs significant energy to run (look at their spec sheets). My remark about a nuclear energy plant is hyperbole on this
Total gold has very little to do with payable gold. You only make money out of the gold one extracts from the rock. Simply "Extractable gold"
It tells you nothing about geoengineering properties, geometallurgy and the other useful information you need to make financial decisions on.
Have a look at the leasing and contractual obligations one must enter into to get the you beaut technology that does not supply mission critical information.
The technology is not at yur mine sight, so same game about sample stewardship.
In a world hopefully trending to an energy transtion to BA, this is a solid step int he worng direction. There are better alternatives. Cheaper, lower CAPEX, OPEX, energy consumption, better sample stewardship etc...
the Gnome
"[We see now the gold industry worshipping Crysos technology, which needs a nuclear power station to run it, but lets not worry about that detail. The marvelous technology measures the total amount of gold...not what is extractable....and so on we go, just change the names and the commodity, but ...]"
I have worked with Chryos in West Australia....according to wikipedia "Australia has one nuclear plant in Lucas Heights, Sydney, but is not used to produce nuclear power, but instead is used to produce medical radioisotopes". So I'm not sure your fact on nuclear power is correct. I would happily be pointed in the right direction to some information on this though.
Chryos is photon assay technology, it tells you only about the geochemistry of a sample like traditional ICP-MS or fire assay methods, except its is quicker and doesn't destroy the sample. It tells you nothing about geometallurgy of a sample, it's crushability, recovery etc.
All those previous analyst price guides are all out of date!
“Berenberg raises Centamin price target to 123 (115) pence - 'buy'”
Will now need reassessed upwards.
Centamin’s website rns link.
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4210671&lang=en-GB&companycode=au-cey&v=