ETF sold gold piling up as Chinese imports drop 83%
Swiss customs data for May show delivery from UK gold vaults to Switzerland's refineries jumping 32% to 32 tonnes, just as Chinese buying tanks 83%.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Copper price extends rally after Chinese data, deficit surprise
Seven straight days of gains.
Germans give up on getting back their gold held in US
"The Americans are taking good care of our gold Objectively, there’s absolutely no reason for mistrust."
Iron ore price builds on rally
But Chinese banks are starting to call in iron ore-backed loans to traders holding 38mt, forcing them to dump inventories onto already well-supplied market.
Platinum, palladium prices slide despite stalled strike deal
Palladium falls 2% while platinum retreats to pre-strike levels.
CHART: Silver price busts out of 3-year downtrend
Hedge funds holding record short positions are scrambling to cover their bets – pushing silver above a down trend line in place since April 2011.
Gold price breakout sparks massive move into mining stocks
Goldcorp adds a cool $1 billion in market value as sector adds more than 5% on the day following a surprise spike in the gold price.
Gold price on insane surge after massive trade
After months of quiet trade massive 82 tonne buy order lights fire under gold price, up nearly 4%.
Iron ore price in mini rally
Back above $90 a tonne after soaring Indian ore import numbers lift sentiment.
Indonesia ban keeping nickel price on the boil
Philippines and New Caledonia can't supply enough laterite nickel ore to China.
Mining’s next boom is off the map: Arctic ice, abyssal plains and asteroids
Depletion, lower ore grades and higher prices pushing miners to new frontiers. The Arctic is already drawing capital, deep-sea mining is moving into a regulatory fight, and space remains the long-dated option.