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Silver

Largest Gold Nuggets Found

Striking a colossal payload is every gold miner’s dream. Watch and listen to learn about a miner who found the largest gold nugget ever discovered in  2018.

Largest Gold Nuggets Found: Did You Know?

Narrator (00:05):

Australia is home to the first and second-largest gold nuggets recorded in history. The first one was named “Welcome Stranger” and was found in the state of Victoria in 1869. It weighed 158 pounds. This record was beat on September 11th, 2018 when miner Henry Dole discovered a nugget that weighed 198 pounds. This nugget was found in the beta hunt mine in the town of Kambalda. The miners discovered a sea of gold embedded in quartz, which took hours to pick up. Three miners were needed to lift this nugget, which as of January 30th, 2020, would be worth about $3.6 million. The total value of gold recovered that day amounted to 562 pounds of gold, valued at $14.2 million as of January 30th, 2020. The owners of the mine plan to auction the nugget because of its physical beauty and size. This discovery created excitement in Kambalda’s small community. In the years prior to the discovery, four mines were closed in Kambalda, making the find even more unexpected and special. Nine months after breaking the record, more rare specimens were found in the beta hunt mine. Many believe the next nugget to beat the record may be hidden under the surface at the very same mine. Call the number on your screen, or click the link below, if you’d like to learn more about the value of precious metals, and make sure to subscribe to see more of our videos on various topics.

Narrator (01:50):
[inaudible].

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Silver

How Bullish Does the Gold Production Forecast Look for 2020?

Resolute Mining Ltd. anticipates 30% higher gold production in 2020. Other mines predict production upticks, thanks to improved technologies and efficiencies. Where might gold production and, in turn, gold prices go in 2020? Read on to find out.

Australia Anticipates “Milestone” Increases

Australia-based Resolute Mining predicts it will produce 500,000 ounces of gold in 2020, up from 384,731 ounces in 2019. The 2019 total fell short of the company’s projection of 400,000 ounces. Resolute Mining says production of 500,000 ounces this year would be a “significant milestone.”

Resolute Mining issued its 2020 forecast two days before announcing it would sell its Ravenswood Gold Mine in Australia for as much as $300 million. Since Resolute’s purchase of Ravenswood in 2004, the mine has produced nearly 2 million ounces of gold.

Resolute might not be the only gold miner to experience a surge in production in 2020.

Canada Charts a Course for Positive Growth

Toronto-based Centerra Gold Inc. says its mines produced 783,308 ounces of gold in 2019, at the upper end of its forecast for the year. For 2020, Centerra predicts production of 740,000 to 820,000 ounces. That range holds the promise for Centerra exceeding its 2019 production figure.

At Vancouver, Canada–based B2Gold Corp., 2019 was a record-setting year for gold production, with 969,495 ounces mined. This year could be even better, as B2Gold forecasts gold production of 1 to 1.055 million ounces.

Financial Post observes that the most enthusiastic backers of gold say that “its prospects have seldom been so positive. They argue that the same factors that helped gold perform so well in 2019—including trade tensions, potential interest rate cuts, a volatile stock and bond market, and geopolitical uncertainties such as Brexit—remain in place to a certain degree and are setting the stage for a massive rally in 2020.”

This news comes on the heels of a jump in gold exploration activity in 2019 for the second year in a row. “I expect that the gold market will continue to strengthen,” Peter Grosskopf, CEO of Sprott Asset Management, told Investing News.

Wait—the World Gold Council Reports Some Slipping?

While the gold market is expected to strengthen, overall gold production actually slipped 1% in 2019, according to the World Gold Council.

The World Gold Council notes that production has “grown significantly” in recent years, “although substantial new discoveries are increasingly rare, and production levels are increasingly constrained.”

There’s a chance that gold production could be affected by a continuing wave of mergers and acquisitions in the mining industry. In 2019, the gold mining sector saw a nine-year high of M&A deals, valued at $20.2 billion.

Bank of America Securities envisions gold production by major global miners declining by about 5% over the next four years.

“After years of underinvestment, we see production profiles under pressure and believe that it is inevitable there will be further M&A,” Bank of America Securities reports.

If gold production is on the rise at a number of mining companies, but there’s only so much gold in the world to go around, could we be nearing a serious cramp in gold supply and demand? Track gold prices and stay tuned.

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Silver

How Freeport achieved 10% higher copper extraction through AI and seven different ore recipes

Kitco News

(Kitco News) – The Freeport-McMoRan ore processing team at Bagdad operations used data science and AI to increase ore output.

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Silver

Gold looks good but investors should be overweight silver – analyst

Kitco News

(Kitco News) – While gold will continue to attract investors’ attention as economic uncertainty dominates financial markets, one research analyst says that silver needs to be the metal to watch.

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Silver

Gold Price Prediction – Gold in Euros Hit All-time Highs as Prices Continue to Rally

Yahoo! Finance: SI=F News

Gold prices broke out, and continue to rise as yields decline as concerns over the coronavirus buoyed the yellow metal. Gold prices have been negatively correlated to US yields and a breakdown would be a confirmation of a further rally in the yellow metal. Gold has historically been negatively correlated to the US dollar.

The post Gold Price Prediction – Gold in Euros Hit All-time Highs as Prices Continue to Rally appeared first on WorldSilverNews.

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Silver

Expected potash recovery could be derailed by coronavirus

Kitco News

(Kitco News) – While suffering potash producer Nutrien believes in significant improvement in the short-term, recent health outbreaks may halt any recovery.

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Silver

Gold is looking at $1,700 in 2020 and $2,000 in 2021/22: Citi

Kitco News

(Kitco News) – With prices holding above $1,600 an ounce, one major U.S. bank is reversing its projections for the year.

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Silver

Gold, silver prices see safe-haven demand on global economic worries – Kitco NEWS

Gold, silver prices see safe-haven demand on global economic worries  Kitco NEWS
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Gold

The biggest financial risk that no one wants to talk about

Yahoo/Michael Nathanson/2-14-2020

grapic image of towering debt skyscraper reaching for the stars“Along with the headline risks of recession, trade wars, political dysfunction, and more, there’s another risk, perhaps greater than all the others, that we used to talk about but don’t anymore. Remember the national debt and budget deficit? Well, those sums are far larger – and more dangerous – than in the ‘old’ days when we used to talk about them.”

USAGOLD note:  The forgotten crisis?  Forgotten, indeed.  Especially in an election year when both parties just as soon pretend it wasn’t so.  The post immediately below, however, alludes to knock-on effects that few are thinking about.

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Gold

Fed doesn’t want another repo crisis, but treasury isn’t helping

Bloomberg/Liz McCormick and Saleha Mosin/2-18-2020

graphic image of a maze with no exit“As the [Treasury] department copes with higher spending, large swings in the amount of money it has on deposit with the central bank have already undercut the Fed’s ability to keep bank reserves stable. Last year, one particularly big shift helped to drain so much liquidity from the banking system that it contributed to a spike in overnight lending rates.”

USAGOLD note:  One thing leads to another for the Treasury Department and central bank.  A bunch of little things pile up.  And then all of a sudden something big happens and you find out your sitting atop a genuine, full-out crisis.