(IDEX Online) - A security guard opened fire after three masked suspects tried to rob a jewelry store in Fullerton, California, USA.Police say no injuries were reported, the guard was unhurt, and they don't believe anyone was struck by gunfire.The incident happened at Happy Jewelers, at around noon last Wednesday, 7 February. At least three bullet holes were seen nearby, according to the KABC...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were down 1 point at 8:30 AM EST.Diamondback Energy gained $1.24 to $152.98 after announcing a merger with Endeavor Energy Resources in a deal valued at $26 billion. Endeavour shareholder will receive $8 billion cash and 117.3 million shares of Diamondback. Diamondback also increased its dividend by 7%.XPO Logistics dropped $2....Read More
Despite the Wall Street happy talk about the Federal Reserve winning the battle against inflation, that battle has not been won.Headline CPI (the kind Americans actually pay, not constructs like "core" and "super-core") was 3.4% in December. That compares to 3.1% in November and 3.0% last June (the January numbers will come out tomorrow).In other words, inflation is not gone and may even be on the...Read More
The mainstream view is that recession is caused by economic-financial factors. The mainstream view is wrong, for recession is ultimately caused by Wetware 1.0 human nature.Human nature our innate attraction to windfalls and something-for-nothing, our ability to habituate to extremes and normalize counterproductive dynamics manifests as economic-financial factors, but these are effects, not c...Read More
Dolly Varden Silver Corp. has intersected a new gold-rich zone on its Homestake Ridge property in British Columbia's Golden Triangle. One newsletter editor calls the numbers 'remarkable.'Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) said it has intersected a new gold-rich zone northwest of the Homestake Silver Deposit on its Homestake Ridge property in British Columbia's Golden Triangle.Part o...Read More
Perpetua Resources Corp. announced up to an additional US$34.6 million in funding under the Defense Production Act through a technology investment agreement for the Stibnite Gold Project. Read on to see what analysts have to say about this stock.Perpetua Resources Corp. (PPTA:TSX; PPTA:NASDAQ) announced in a press release that it had received up to US$34.6 million in additional funding through the...Read More
Work on the underground paleochannel continues, and gold recovery is expected to commence in the near term, noted a Research Capital Corp. report.Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced positive results of drilling the first of five depressions in the underground paleochannel at its Wingdam gold project in British Columbia, reported Research Capital Corp. analyst Bill N...Read More
Michael Ballanger of GGM Advisory Inc. shares his thoughts on the current state of the market, specifically the copper and gold sector.The "Drive for Five" (as in FIVE thousand for the S&P 500) is now complete.With a 29.6% allocation comprised of the "Magnificent Seven" mega-cap stocks that have led the advance since late October, the S&P 500 has used that extraordinary rocket fuel to blast throug...Read More
Could another bubble burst like the "Dotcom Bubble," which helped usher in a decade-long gold bull market with extraordinary gains, be on its way? Surprisingly, some analysts and experts say there are similarities between then and now.Could another bubble burst like the "Dotcom Bubble," which helped usher in a decade-long gold bull market with extraordinary gains, be on its way?Hussman Investment...Read More
(IDEX Online) - De Beers today (13 February) announced the launch of its latest lab grown diamond detector, capable of screening 2,500 of the smallest melee in an hour.The AMS Micro (Automated Melee Screening) uses robotic technology to work with stones as small as 0.001-cts, a significant improvement on the 0.0032-cts capacity of its predecessor, the AMS.The new instrument automatically separates...Read More
(IDEX Online) - Emerald jewelry that lay undiscovered at the bottom of the sea for 363 years has gone on display in New York.Three items - a royal orb, a cross on a necklace, and a ring - have been bought by Muzo Emerald Colombia, the company that know operates the iconic mine where the emeralds were originally mined.They were on board the the treasure galleon Nuestra Senora de Atocha,...Read More
(IDEX Online) - Kering, the French luxury group that owns Boucheron and other high jewelry maisons, reported a 4 per cent drop in revenue during 2023 to $21.1bn. Revenue during the final quarter fell by 6 per cent.The company did not provide a revenue breakdown for its jewelry and watch brands - including Pomellato, DoDo, and Qeelin. They come under the "other houses" category, which saw 1 9 per c...Read More
Equity index futures were lower this morning. S&P 500 futures were down 54 points at 8:35 AM EST.Index futures dropped an additional 32 points following release of the January U.S. Consumer Price Index at 8:30 AM EST. Consensus was an increase 0.2% versus a gain of 0.2% in December. Actual was an increase of 0.3%. On a year-over-year basis consensus was an increase of 3.0% versus a gain of 3.3...Read More
The January inflation numbers came out this morning, and they weren't good for Wall Street.The consumer price index (CPI) rose 3.1% in January. That's a decrease from December's 3.4%, but it exceeded consensus estimates of 2.9%.Core inflation, which excludes food and energy, rose 3.9% on an annualized basis, which is unchanged from December. But the consensus estimate was 3.7%. Core inflation also...Read More