Gold: The End of Cheap Money

Gold prices have rallied more than 5% this year, trading over $1,900/oz, outperforming markets which suffered their worst shellacking in a generation. A major realignment is taking place between the dollar and gold. Gold’s new bull market is only just beginning and will surpass $2,200/oz in coming months. – John R. Ing, President & CEO, Maison Placements Canada. Here are his Buy/Sell recommendations for Agnico Eagle, B2Gold, Barrick Gold, Eldorado Gold, IAMGold, and Lundin Gold.

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2023 LBMA Precious Metals Forecast Survey
This year’s LBMA Precious Metals Forecast Survey has revealed that analysts are cautiously optimistic about gold and silver prices in 2023. Palladium sees the most negative sentiment for price. But analysts have shown a bullish view to the performance of platinum. 30 analysts’ from across the globe, give their individual forecasts and commentaries, revealing their insights behind their forecasts for high, low, and average prices for Gold, Silver, Platinum and Palladium.
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Analysts Wary of Base Metals
after China Recovery Rally

Base metals have enjoyed a strong start to the year, the LME index rising by 9.4% over the course of January on high hopes for China's post-COVID reopening. However, analysts are cautious that China's recovery may not live up to bullish expectations and that prices have got ahead of themselves, judging by the latest Reuters base metals poll.
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Prospects for South African PGM Supply
as the Energy Crisis Deepens

Metals Focus estimates South African PGM output will fall below the 4Moz benchmark in 2023. While there are many reasons for lower output from the largest global platinum producer, at present, the country’s energy crisis represents one of the greatest risks to security of supply.
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High Interest Rates
to Hold Back Gold's Rally

Analysts and traders have significantly raised their predictions for Gold prices but expect high interest rates to keep a lid on rallies. They also forecast sharply higher prices for Silver and should begin to outperform Gold as China’s economy reopens, a Reuters poll showed.
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All Ag Market Outlook Year-Ahead Report
Hackett Financial Advisors provide a forecast on all Ag Markets for 2023 in their YEAR-AHEAD Report. Hackett’s statistical and cycle work on climate suggests that the chances for El Nino to form by the Spring/Summer of 2023 is at best remote. Meaning, the odds do not favor El Nino arriving in time for the US growing season and is likely to arrive by late 2023 into 2024. This means that the most probable outcome is for La Nina to end and morph in a neutral state called La Nada.
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PDAC PDAC 2023 – Register Now!

PDAC 2023: The world’s premier mineral exploration and mining convention will take place from March 5-8 in Toronto, Canada. The PDAC Convention is widely considered the “Super Bowl” of the mineral exploration and mining community and is the leading event for people, companies and organizations connected to mineral exploration. Register Now!

Exhibitor Directory: Be sure to plan your time on the exhibit floor. Visit over 1,100 exhibitors! The Exhibitor Directory is searchable, to help you find exactly what you are looking for. Plan your visit by clicking PDAC 2023 Exhibitor Directory

Important Deadlines: Friday, February 10 – Early registration rate deadline for All Access Passes and Short Course tickets.

Register Now


 

Europe’s Big Rare Earth Discovery Seen as ‘Game Changer’ In Bid To Address China’s Dominance
The discovery this month of Europe’s largest-known deposit of rare earth oxides – estimated at more than 1 million tonnes – in Sweden’s far north has raised hopes of reducing reliance on China for critical raw materials.
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China's Coal Imports from Russia
Fall in Dec, But Up 20% in 2022

China's coal imports from Russia dropped in December as logistics issues and inclement winter in Russia curbed shipments and Chinese demand weakened amid surging COVID infections. But for the full year of 2022, China's coal imports from Russia surged 20% from a year earlier to 68.06 million tonnes.
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Copper on the Way Up, But with Many 'Ifs'
Copper bulls betting on a strong recovery of physical demand after the Chinese New Year should be wary of getting carried away, market participants say. A rally fuelled by sentiment and expectations, without an actual increase in consumption, could trap investors in an eventual sharp downturn, such as the one in mid-2022 triggered by the Ukraine-Russia war and an energy crisis.
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Aviation Leaders Hail Green Fuel as
Carbon Saviour, but Wonder Who Will Pay

Greener fuel is the only way airlines will meet strict global carbon emission targets, executives meeting in Dublin agreed, but there's little consensus on who should foot the hefty bill to ramp up production.
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The Top 10 Best and Worst-Performing
Commodities of 2022

Hard commodities had a roller coaster year in 2022. While prices for some commodities stabilized after skyrocketing on the heels of the pandemic, others delivered stellar returns. Behind the volatility was a plethora of factors, including the Russia-Ukraine war, the global economic slump, and a drop in China’s demand for materials.
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3 Precious Metals ETFs to Buy Now
A number of commodity stocks and commodity exchange-traded funds have been on a pretty profitable run for most of the last 12 months. Investors wanting exposure to gold and silver stocks may find these 3 precious metals ETFs a helpful hedge against inflation.
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The Perth Mint Outsold the US Mint in Silver Coins in 2022
Record levels of silver coin demand at the Perth Mint last year resulted in a total of 23.2 moz of coins sold by year-end. This exceeds annual sales of the US Mint’s Silver Eagle coins by 7 moz for the year – the first time the Perth Mint’s bullion sales have exceeded those of the US Mint.
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Who Owns Hundreds of Millions of Ounces of Silver?

VIDEO: CPM Group’s Jeff Christian discusses the enormous amount of unreported silver inventory owned by banks and lent to industrial processors and users, and what that metal means to the market.
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Reuters Technical Analysis Q1 Outlook 2023 – Wang Tao
Crude oil looks firm on medium-term downtrend. Palm oil may reverse downtrend soon. Gold, Copper, Aluminium and Grains are heading south. Softs and dollar index may rise. Analysis plus Weekly and Daily charts provided by Wang Tao, Reuters market analyst for commodities and energy technicals.
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Heraeus Precious Metals Forecast 2023
Heraeus Precious Metals Forecast 2023: Gold could benefit from a weaker dollar in 2023. Gold could be worth more in euros than ever before. Industrial demand for silver on the rise. Platinum surplus expected. Palladium will be under pressure. Iridium should have bottomed out. The rhodium price should again move in a high range.
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Goldman Bullish on Commodities in 2023
Jeff Currie, Goldman Sachs global head of commodities research says commodities will be the best-performing asset class once again in 2023, handing investors returns of more than 40%.
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Green Hydrogen Cost Will Decline
Steeply as Manufacturing Base Expands

Announcements of green hydrogen projects have continued to grow this year, culminating in the COP27 summit in Egypt earlier this month. Globally, more than 40 nations have now unveiled hydrogen strategies in one form or another.
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Visualizing the World’s Largest Copper Producers
Copper is a major industrial metal with many applications due to its high ductility, malleability, and electrical conductivity. Many new technologies critical to fighting climate change, like solar panels and wind turbines, rely on the red metal. Here are the world’s largest copper producing countries in 2021.
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Rare Earths Elements:
Where in the World Are They?

Rare earth elements are a group of 17 elements that are critical ingredients for a greener economy, and the location of the reserves for mining are increasingly important and valuable. VisualCapitalist.com features data from the United States Geological Society which reveals the countries with the largest known reserves of rare earth elements (REEs).
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  Silver Rush Creates Silver Scams
The Chinese are blowing up the web selling fake silver dollars. Anti-Counterfeiting Educational Foundation warns of surge in fake “silver” coins offered online.
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  Cost of Gold
the Year You Were Born

Stacker compiled a list of the price of gold every year since 1920. Stacker mined data from Kitco and Bureau of Labor Statistics to show how the price of gold has changed over a century, and how gold has impacted society along the way. Included for each year: Average closing price; U.S. primary gold production; U.S. secondary gold productions; U.S. gold net exports; Historic photos.
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The Resource Investor NewsWire

Lundin Gold Beats 2022 Guidance with Gold Production of 476,329 Ounces

Lundin Gold Inc. reported fourth quarter 2022 gold production of 121,139 ounces (“oz”) from its Fruta del Norte gold mine in southeast Ecuador, resulting in total gold production of 476,329 oz for the year, exceeding the high end of the Company’s 2022 guidance of 460,000 oz.
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CanAlaska Commences West McArthur Winter Drill Program

CanAlaska Uranium to announce its mobilization of drill crews and equipment as part of the $10 million 2023 program on the West McArthur Joint Venture project in the eastern Athabasca Basin. The 2023 West McArthur drill program will focus on advancing the Company’s new high-grade Pike Zone uranium discovery. The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that currently holds a 79.4% ownership in the project. With cash of approximately $18 million the Company is fully funded to complete its 2023 exploration programs. CanAlaska will fund the 2023 West McArthur program entirely, further increasing its majority ownership in the project.
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Hecla Exceeds 2022 Silver Production Guidance

Hecla Mining announced that the company produced 14.2 million ounces of silver in 2022, Hecla’s second highest, was an increase of 10% over last year driven by a 24% increase at Lucky Friday and a 5% increase at Greens Creek. As expected, gold production decreased 13% to 175,807 ounces as Nevada production ended.
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Torex Produces 474,035 oz of Gold in 2022, Beats Guidance

Torex Gold Resources reported record annual gold production of 474,035 ounces in 2022 following fourth quarter production of 116,196 ounces. Full year gold production surpassed the upper end of the guided range of 430,000 to 470,000 ounces, marking the fourth year in a row original production guidance has been achieved.
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