Mining Review – Sunday Update 16th April

Mining Super Pit truck   Mining Review – Sunday Update 16th April 2021

Gold is rising once again, and had a very positive week, due to the US dollar and US treasury yields both falling, Ukraine tensions rising, and amid rumours that China has increased imports of the yellow metal because they are planning a gold backed crypto currency.

Iron ore prices also rose to their highest price since September 2011.


Silver bars




Mining Review – Sunday Update 16th April 2021

Gold is rising once again, and had a very positive week, as the US dollar and US treasury yields both fell, Ukraine tensions rose, and amid rumours that China has restarted allowing  imports of the yellow metal, because they are planning  a gold backed crypto currency.

Iron ore prices also rose to their highest price since September 2011.

Coking coal prices fell back, as stocks fell at Chinese steel mills, and the Chinese government is inspecting local mines for health and safety issues. This is expected to result in the closure of some Chinese coking coal mines, which should buoy the international price in the coming months.


Stocks on our watchlist in the news

03 MiningSold their Kinebik mine to Tri Origen

Osisko Development Reported high grade gold intercepts at their Cariboo project

NeometalsReported high grade palladium in nickel at their Mt. Edwards project. 

Uranium Energy Corp. – Completed the purchase of 2.1 million pounds of uranium

Colonial CoalWas the subject of a new research note by Tormont Group of the USA, reflecting on the positive outlook for coking coal prices as steel production is predicted to rise by 5% in 2021.



Precious Metals

Gold, silver, palladium, and rhodium all enjoyed healthy gains during the week, yet platinum strangely fell slightly. I haven’t seen any market commentary suggesting a reason for that, so maybe just a temporary blip, we shall see.

Gold 1776 2%
Silver 25.95 3%
Palladium 2684 3%
Platinum 1197 0%
Rhodium 26200 3%



Base Metals

A positive week here too, helped by the falling US dollar and stimulus optimism. Nickel may have pulled back because of softness in other battery metals.

Copper 4.17 3%
Nickel 7.28 -4%
Zinc 1.27 0%
Tin 12.61 0%



Energy Metals

Falling back a bit again, and have been since their recent peak, as I suspect the prices were over egged by too much optimism about EV’s, when in fact most of the original issues about EV’s still remain.

Specifically, the cost of purchase v an internal combustion engine vehicle, the lack of a charging infrastructure, and, never mentioned when discussing EV’s, the cost of charging the car!  Apart from charging in one’s own home, this can be very expensive, and many city dwellers will have no choice but to use external commercial charging points.

Cobalt 22.6 0%
Manganese 3.35 -2%
Lithium 12564 -1%
Uranium 29.95 -3%



Bulk Commodities

A strange week, in that iron ore prices rose on increased steel demand and a forecast of a 5% rise in 2021, yet coking coal prices fell slightly, notwithstanding the fact it is anticipated that some Chinese mines will be closed by the government due to health and safety concerns, in the near future, resulting in a higher demand for imported met coal.

Iron Ore 172 4%
Coking Coal 147.5 -1%



Precious Metal ETF’s

As one would expect, a very positive week, with an average rise of 3% week on week across the board.

GDX 36.03 4%
GDXJ 50.32 3%
Sil 44 3%
SILJ 15.95 2%
GLD 166.35 2%



Miscellaneous Market Data

The US 10 year Treasury Bond rate continues to fall, weakening demand for the US dollar, and the US $ Index is also falling as a result.

Gold  / Silver Ratio 67.71 -2%
10 yr Tbond 1.57 -5%
US $ index 91.53 -1%


The weekly reported is finished.


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