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Great Panther Silver (TSX:GPR) completed its first surface diamond drill program at the Guadalupe de los Reyes project in Mexico. The program focused on infilling and expanding higher-grade areas within the Guadalupe, Noche Buena, San Miguel and Zapote zones at the project. As quoted in the press release: Surface drilling was concluded in early December 2015.  In total, 5,514 metres were drilled in 41 holes, including five that targeted the Guadalupe West zone, four at Guadalupe Central, six at San Miguel Far West, eleven at San Miguel, four at Noche Buena, four at Zapote North, and seven at Zapote South (including one [...]

- Russia adds another 700,000 ounces (22 tonnes) to gold reserves in November - Russian ally Kazakhstan increased gold reserves for 38th month – 7 Mil ounces - Russia has added 197.1 tonnes in 2015 – Compared with 172 tonnes in all 2014 - November gold buying is Russia’s ninth straight month of increase - Russia now has sixth largest gold reserves in the world - Central bank buys all Russian gold production - Other Russian gold demand imported - Russia views gold bullion as “100% guarantee from legal and political risks”Russia continues to add to its gold reserves and [...]

Mines Management Inc. (TSX:MGT,NYSEMKT:MGN) announced its financial and operating results for the third quarter of 2015, also commenting on recent milestones in permitting for its Montanore silver-copper project. Highlights include: The U.S. Forest Service (“USFS”) and the Montana Department of Environmental Quality (“MDEQ”) continued to integrate clarifying comments into the Final Environmental Impact Statement (the “Final EIS”) and Record of Decision (“ROD”) as a result of the public objection process completed during the second quarter of 2015. The Company expects the permitting process to be completed by early 2016. The Company raised $1,665,000 in October 2015 through the sale of [...]

 ……. realized $89,625 on its way to becoming the top lot in Heritage Auctions’ Hong Kong’s $2.82+ million inaugural joint World & Ancient Coins and Currency Signature® auctions, held Dec. 10-12, 2015, at the Hyatt Regency Tsim Sha Tsui, Kowloon, Hong Kong. “This has been a historic week for Heritage with our events in Hong […] The post Inaugural Heritage Hong Kong Coins and Currency auctions bring $2.82+ million appeared first on CoinWeek.

Gold fell to the lowest level in dollar terms since 2009 yesterday after the Fed’s “historic” 25 basis point interest rate rise on Wednesday. The rate hike has been heralded as the “end of cheap money.” This may or may not be the case but what is more important for precious metal buyers is the impact of potential rising rates on gold prices.Most pundits on Wall Street are nearly universal in seeing the rate increase as negative for gold. Especially vocal in this regard has been Goldman Sachs. One headline this week, screamed ‘Gold sags as higher U.S. rates are [...]

Marc Faber, the editor of the Gloom, Boom & Doom Report, warned yesterday that the Federal Reserve has raised rates at “precisely the wrong time.”Speaking to CNBC just before the interest rate decision, Faber warned that it’s the wrong time because “the global economy has decelerated very badly, and many countries are already in recession, or going into recession.”The rate hike separated the Fed from other major central banks – The ECB, Bank of England, PBOC, the Bank of Tokyo and elsewhere that are all battling deflation and desperately trying to stimulate some form of sustainable economic growth.Yesterday’s hike still [...]

The US Mint announced that it’s sold a record amount of American Eagle silver bullion coins for the third year in a row. In 2015, sales of the coins reached 47,000,000 ounces, higher than the 44,006,000 ounces sold last year and the 42,675,000 ounces sold in 2013. As quoted in the press release: The Mint broke last year’s record Nov. 30 when sales reached 44,666,500. To add further perspective to the demand for Silver Bullion Coins, for the first 22 years of the American Eagle Silver Bullion Coin Program, the Mint typically sold between three million and 10 million ounces per year. Since [...]

The all important context for Federal Reserve’s interest rate decision, where the Federal Reserve is widely expected to hike interest rates for the first time in nearly a decade has been examined by the insightful Grant Williams. He is very skeptical of the Fed’s ability to continue to control markets much longer … and this is a gross understatement:None of this has been tried before and, to me, that just demonstrates the dangers. Once you get into a situation like the central banks did in ’08 with this panicking — everyone calls it the Hotel California — you can’t get [...]

Many readers will have noticed that the there is an oddity in the pricing of two 2008 proof sets: the "base" clad set which consists of 14 coins and the clad state quarters set, which consists of 5 coins. The Greysheet bid for the clad set is $24 while the bid for the quarters-only set is $34. This is counter-intuitive, as one would expect the set with more coins to cost more money, so why is this so? They dynamics of the market dictate so. There is a buyer that has had, for some time, a buy at $34 for [...]

Money Week editor John Stepek has looked at the recent mutual fund collapse in the junk bond market and correctly warns that it is a canary in the coal mine: If you were around during the financial crisis, you might remember that fund closures became one of the canaries in the coal mine.Various funds failed in the run-up to the crisis, as bad bets on risky assets went wrong and the economic backdrop became steadily less forgiving.Why am I reminding you of this? Because we’ve just seen the biggest mutual fund failure in the US since 2008… The full Money [...]