Deflation: Making sure ‘it’ doesn’t happen here
(The author is a governor of the U.S. Federal Reserve Board.)Since the Second World War, inflation — the apparently inexorable rise in the prices of goods and services — has been the bane of central…
News
The Northern Miner — North American Mining Index (January 20, 2003)
74.59(-0.79)(Sept. 30/98 = 100)…
The Northern Miner — Small Producers Index (January 20, 2003)
91.35 (-4.89)(Sept. 30/98 = 100)…
Gold was strongest major currency in 2002
The performance of the price of gold in 2002 largely reflects the fact that the professional investor has returned to the use of gold as a risk management tool. In the 1980s and for much of the 1990s,…
Lending Rates (January 20, 2003)
as of 4 pm ET, Jan. 14, 2003(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount0.75U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.38LIBOR US$ 6-month1.39LIBOR US$ 1-year1.52Gold lease 3-…
LME Warehouse Levels (January 20, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Jan. 14 (change from Jan. 7 in brackets):MetalStock(tonnes)ChangeAluminium1,240,100(+…
CZZ extends Expo-Ungava
Vancouver — Canadian Royalties (CZZ-V) has confirmed the downdip extension of high-grade mineralization at the Mesamax zone on the Expo-Ungava property in northern Quebec.Holes 40 through 54 were dri…
Campbell storm occasions foolishness Drunk, with power
Gordon Campbell has contrived to get himself into hot water over a number of things during his short tenure as premier of British Columbia, but it took a traffic stop and impaired driving charge in Ha…
Chinese gold reserves rise
According to data released by the Peoples Bank of China (PBOC), gold reserves in that country jumped by 100 tonnes (3.2 million oz.) in December 2002.The increase comes at a time of weakness in the U….
Spot Prices Wednesday January 15, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$351.90+5.15Silver$4.73-0.05Platinum$619.00+11.50…
Kemess sets records
Vancouver — The Kemess South open-pit mine in north-central British Columbia produced a record amount of gold and copper in 2002 — 282,300 oz. and 72.9 million lbs., respectively, for an increase of…
Exchange Rates (January 20, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJan. 14Jan. 13Jan. 10Jan. 9Jan. 8US$ in C$1.53971.54181.55001.553…