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Tag: Gold miner

Gaps are Appearing in the Gold Market

Gaps are Appearing in the Gold Market

The gold market continues to act as if the forces of supply and demand don’t exist. The number of claims per ounce of gold stored at COMEX’s vaults have reached a high of 110 per physical ounce. Meanwhile, record levels of physical gold have been flowing into Hong Kong and Shanghai. One of the biggest sellers of the yellow metal to Chinese buyers has been the well publicized GLD ETF, which has been selling off its physical holdings. Numerous other…

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COMEX Deliverable Gold Bullion Reaches a 10-year Low

COMEX Deliverable Gold Bullion Reaches a 10-year Low

Back in August, the number of claims per physical ounce of gold stored in COMEX warehouses reached 50. That’s 50 owners for every ounce of gold available for delivery. The physical gold rout has continued and the number of owners per physical ounce, now stands at 54.6, a level not seen since 2003. This comes at a time when the global demand for physical gold is rising, led by Asia¬†where Chinese gold consumption is expected to grow 29% this year….

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Where has all the Gold Gone?

Where has all the Gold Gone?

The total amount of gold available for delivery on the COMEX has fallen to a record low. There are now up to 50 owners for every ounce of gold available for delivery. The total amount of gold available for delivery in COMEX warehouses currently totals around 774,000 ounces, or 24 tons; 29 tons were requested for delivery in July. With the August delivery date coming up someone should start getting worried. It would appear that buying gold nowadays does not…

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Barrick Gold’s Mining Margins are Coming Under Pressure

Barrick Gold’s Mining Margins are Coming Under Pressure

Like the rest of the mining industry, the worlds largest gold miner by volume is going to be hit by falling margins the second half of this year. Actually, it is possible that these margins are going to fall so much that the company will actually be making a loss at some of is mines. According to Barrick Gold’s first quarter earnings release, these were the all-in costs of producing an ounce of gold in three of its key mining…

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