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Bid To Win A Coffee With Your Favorite Mining Mentor

Hoping to get firsthand knowledge from a Mining CEO on the ins-and-outs of the industry? A social network for women in mining is making the likes of Pierre Lassonde and Rob McEwen more accessible during an evening auction.

SocGen: Yes Vote In Switzerland Would ‘Significantly’ Increase Central-Bank Purchases

If a Swiss referendum passes, net central-bank gold purchases likely would increase substantially from recent years, says Societe Generale. Switzerland will vote on a referendum on Nov. 30 that would do several things, including a requirement that the central bank hold 20% of its official reserves in gold. The central bank has held 1,040 metric tons since 2008, SocGen says. “At the end of 2013, gold made up 7.4% of the Swiss National Bank’s official reserves, which was the lowest level of gold’s share of official reserves since the IMF (International Monetary Fund) began collecting data in 1948,” SocGen notes. Should the referendum pass, the price will determine how much gold the SNB has to buy. At $1,000 an ounce, and assuming other official reserves remained flat from end-of-2013 levels, the central bank would buy a little more than 2,800 metric tons. At $1,500 gold, the central bank would buy just over 1,500 tons, SocGen continues. Sales would likely occur over a multi-year period. Since 2010, global central banks have been net buyers of between 77 and 500 tons annually. “If the SNB were to begin a multi-year gold-buying program, net purchases could increase significantly from levels seen in the past few years,” SocGen says. “To provide some context, if the SNB were to buy 500 metric tons of gold per annum for three years, this would amount to 12% of total supply and 10% of total physical demand in 2013.”

Gold Ends Steady-Firm; Focus On FOMC Statement Wed. P.M.

Gold prices ended the U.S. day session steady to modestly higher Tuesday. Some technical selling pressure hit the futures market as the session progressed. However, the cash (spot) market remained firm as a weakening U.S. dollar index on this day work…

BMO: PGMs Price Decline Is ‘Overdone,’ But Further Losses Possible

Platinum group metals fell sharply in the third quarter, pressured in part by the weakness, in gold, and BMO Capital Markets said Tuesday the decline was “overdone.”

Five Firms Offer Proposals For New LBMA Gold Fix

Five firms presented proposals to run the London Bullion Market Association’s London daily gold price mechanism, known as the gold fix, the LBMA said late Monday.

Investors Turning Their Gaze To Silver – Silver Institute Executive Director

(Kitco News) – While silver prices have trended lower over the last three months, investor interest in the white metal has been tracking upwards, said an executive with the Silver Institute.

Tuesday’s Forex Analytical Charts

Tuesday’s Analytical Charts for Gold, Silver and Platinum and Palladium

“It’s Cheaper To Buy Exploration Than To Do It Yourself” – Morgans

Australian-based wealth-management firm Morgans says with the fall in equity valuations in the mining sector, acquisitions are looking more attractive.

U.S. Consumer Confidence Rises To 94.5 In October, Rebounds From September Weakness

(Kitco News) – U.S. consumer confidences rose in October, reversing the weakness seen in September, according to data from the U.S. Conference Board.