India's gold imports rebound amid signs that tax woes are fading Submitted by cpowell on 06:22PM ET Friday, January 5, 2018. Section: Daily Dispatches
By Shruti Srivastava and Vrishti Beniwal Bloomberg News Friday, January 5, 2018
Gold imports by India, the world's second-biggest market after China, surged 37 percent in December after falling for three straight months, according to a person familiar with the data.
Inward shipments increased to 77.7 metric tons from 56.9 tons a year ago, the person said, asking not to be named as the information isn't public. In value terms, purchases rose 39.8 percent to 176.7 billion rupees ($2.8 billion). Finance Ministry spokesman D.S. Malik declined to comment.
The data is the latest sign that Asia's No. 3 economy is recovering from a new consumption tax implemented in July, which had weakened demand and disrupted businesses. Jewelry is among India's top exports, accounting for about 15 percent of total sales from April through October. ...
Gran Colombia Gold Corp. (TPRFF) TI Golden Cross train - ex.
TI golden cross right train to profitville I am comfy in trust - TPRFF clean out 666 mercury to save HIS people - :-))
Gran Colombia Provides Production Update for November 2017; Remains on Track With 2017 Annual Production Guidance December 19, 2017 TORONTO, Dec. 19, 2017 (GLOBE NEWSWIRE) --
Gran Colombia Gold Corp. (TSX:GCM) announced today that it produced a total of 15,841 ounces of gold in the month of November bringing the year-to-date total to 154,959 ounces. The trailing 12 months’ total gold production as of the end of November 2017 now stands at 169,777 ounces, up 13% over 2016’s annual gold production. With one month remaining in 2017, the Company remains on track with its recently revised production guidance for the full year of 165,000 to 170,000 ounces of gold.
The Segovia Operations produced 13,797 ounces of gold in the month of November bringing the 11-months year-to-date total to 131,729 ounces. Company-operated production at the Providencia mine continued in line with the trend this year and the Company also benefitted from additional material from contract miners under new operating contracts entered into since August under which Gran Colombia is retaining between 10% and 60% of the spot price for each ounce of gold produced. The trailing 12 months’ total gold production as of the end of November 2017 at Segovia was 144,512 ounces, up 14% over 2016’s annual gold production and within the Company’s revised production guidance range for the 2017 calendar year at Segovia of 140,000 to 145,000 ounces.
At the Marmato Operations, gold production amounted to 2,044 ounces in the month of November bringing the 11-months year-to-date total to 23,230 ounces. Marmato’s trailing 12 months’ gold production at the end of November 2017 was 25,265 ounces, up 8% over its 2016 annual production.
The Company continues to expect Marmato’s annual gold production for 2017 will range between 24,000 and 26,000 ounces.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is continuing its expansion and modernization activities at its high-grade Segovia Operations.
Additional information on Gran Colombia can be found on its website at http://www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information",.... the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Please Contact: Mike Davies Chief Financial Officer (416) 360-4653 investorrelations@grancolombiagold.com
Gold finished the day, the week, the month and the year solidly in positive territory.
On the day, it was up $8.12 or .6% On the week, it was up $28.35 or 1.02 % On the month, it was up $28.16 or 1.02% And. . . last but not least, on the year it was up $152.00 or 13.2%.
Closing price: $1302.90
Silver also finished the day, the week, the month and the year in positive territory, but not quite as spectacularly as did gold.
On the day, it was up 7¢ or .4% On the week, it was up 55¢ or 3.4% On the month, it was up 54¢ or 3.2% And. . . on the year, it was up $152.00 or 6.4%.
Closing price: $16.92
For gold, it was the best year since 2011, the second straight year of posting gains and one that evolved despite a strong stock market, the constant threat of rising interest rates and, rightly or wrongly, an optimistic start to the Trump administration in terms of business and finance.
Quote of the Day “Large speculators have made a record shift in their positioning for the last two weeks. In the latest week, they reduced their net longs by 66,000 contracts after a reduction of ~51,000 contracts the previous week. This group of traders is usually considered trend-followers. The extreme positing by this group may provide a clue to a changing trend.
In contrast to speculators, commercial traders and bullion banks have reduced their net short positions in gold. This group of traders is usually referred to as smart (bankster) money. When this category hits the bottom in short interest, prices usually rise.
It has been hailed as an indicator that gold prices could have an advantage as we enter 2018.” – Annie Gilroy, Market Realist
I have a nice profit and still like Gran, with their 1.7 P/E or so Gran can 4 bag in 2018 as gold is perking going over 1300 and mining stocks in general starting a rally. geodan thank you good info :-))
Note .... The gold bull market in the 1970s and 1980s happened even as the Fed tested record-high interest rates. The yield on the 30-year Treasury bond rallied sharply during the late 1970s, eventually topping 15% in 1981. Gold rallied from about $100 per ounce in 1976 to over $850 per ounce in 1980.
Goldcorp Inc.’s CEO is not surprised by the steep decline in his company’s stock price on the heels of its third-quarter earnings.
“It was a depressed quarter. It was expected a such, and obviously, the market was disappointed with the quarterly results,” Goldcorp () CEO David Garofalo told BNN Bloomberg in an interview on Thursday. “It is a loss, but it’s set us up for a very strong fourth quarter.”
The miner’s 12-cents-per-share third-quarter loss was more than the 10-cent loss expected by Bloomberg analysts. The company’s shares plunged 18.40 per cent - or $2.50 – to close Thursday trading at $11.09.
Garofalo pinned the losses on lower output from the company’s Peñasquito operation in Mexico.
“In the third quarter we actually accelerated the construction of our Pyrite Leach project at Peñasquito,” Garofalo told BNN Bloomberg. “We actually completed that a quarter ahead of schedule and started the commission earlier. As a result we decided to feed low-grade material through the mill, which we signaled to the market.”
However, Garofalo thinks Goldcorp is well-positioned to combat an overall decline in gold reserves without needing to look at mergers and acquisitions, like some of its major competitors.
“Over the last six years or so, we’ve actually seen 50 per cent decline in reserves across the entire industry. That’s inevitably going to drive M&A, and we saw that more recently with Barrick [Gold] and Randgold getting together,” he said. “Even with that consolidation, with that merger: They’re making themselves into the biggest gold player in the sector, but that still only represents about six-to-seven per cent of global mine production.”
“We’ve actually been investing ahead of the curve over the last couple of years in brown-field expansions of our existing operations and we’ve populated our pipeline with some very attractive new deposits that will see us actually grow production and grow value over the next decade,” Garofalo added.
“So, we’re well positioned to really go against the tide that we’re seeing in the rest of the sector.”
Still, Garofalo thinks the sector is bound to shrink.
“It’s still very much a scattered and segregated universe,” he said. “There are too many players in the sector. We’re likely to see more consolidation to deal with that decline in reserves and production that the industry is facing.”
Note .... The gold bull market in the 1970s and 1980s happened even as the Fed tested record-high interest rates. The yield on the 30-year Treasury bond rallied sharply during the late 1970s, eventually topping 15% in 1981. Gold rallied from about $100 per ounce in 1976 to over $850 per ounce in 1980.
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