Wednesday, October 15, 2014

Chinese banks go after silver fix

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Silver News Digest
Thursday 16 October 2014
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Since it first debuted in August, only five participants have signed up to the price setting process.

Sponsor Digest Post

Cat Auction Services is hosting a live auction for the complete dispersal of Chevron's Questa mine. The auction will take place on Wednesday, October 22, 2014 and Thursday, October 23, 2014 at 9:00 am MDT. While most of the items up for auction are mining, there will also be heavy equipment, motor vehicles, agriculture and parts, attachments and shop tools. This is an unreserved auction, so there are no minimum bids or reserve prices. If you can't make it onsite to bid, no worries, we have online bidding.
For the full auction equipment inventory visit, www.catauctions.com.

The former Xstrata boss' new venture, X2 Resources, said to be "currently reviewing a number of opportunities in the metals and mining sector."

Vancouver-based Turquoise Hill blames "delayed mine advancement" at massive Mongolian property.

Hedge funds cut bullish bets for eighth straight week and ETF investors grab chance to cash out amid 3%-plus rally in the price of the precious metals.

More than 100 objects, including solid gold jewellery, arm bands and silver ingots are part of the trove, one of the largest discoveries of Viking treasure in Scotland.

Is there any hope on the horizon for the gold funds?

We know so little about 925 silver jewellery and its place in the fashion world. Much of the fashion jewellery online nowadays are made from sterling silver jewellery. Here's a short history on silver: Infographic from GemLn.  

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The Nevada gold-mining industry is keeping its ear carefully tuned to what residents think of the state's mining tax.

The firm mined 93,624 ounces of the yellow metal in the three months to end September and it also maintained its full-year production forecast of 420,000 ounces of gold.

Figure is based on preliminary assessments of the damage caused to water, flora, fauna, and wildlife, as well as official information on water quality.

Gold seems to be the most ancient metal.

Once again the mining giant's $3.9 million project can't move forward until local indigenous groups who oppose it are better consulted.

"As we speak, in the end of 2014, I think we're pretty close to the edge of the precipice"

There have been multiple occurrences in history where evildoers have breached security measures and gold has fallen into the wrong hands.

The news represents a relief for local authorities, which have seen several projects halted in recent months.

What if the goldbugs are wrong and fiat currency isn't going to throw the world into hyperinflation?

BMO Capital Markets warns miners should prepare for a "prolonged period of sub-US$1,200/oz gold prices."

This week has seen highly volatile equities (mostly down), bond yields sharply lower, the oil price hard down, and gold side-lined but recovering after a miserable month or two.

As silver prices started to decline last year, silver mining companies halted projects where costs were too high in relation to the new reality of silver prices.

1 Day Spot Silver Price
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