Positive U.S. economic outlook rings bad news for gold

Spot gold price continued to track losses after Wednesday’s FOMC statement and positive GDP data out of the US on Thursday. The recent more optimistic outlook for the US economy is driving dollar strength and putting pressure on the precious metals as investors put up better risk appetite and stay away from the traditional safe-haven commodity.

gold

On Thursday, data showed US GDP grew at a 3.5-percent pace in the third quarter, beating the 3.1-percent forecast and in line with recent optimistic assessment of the US economy by the Federal Reserve.

On Wednesday, The Fed announced the end of its monthly bond buying program and said that if “incoming information indicates faster progress toward the Committee’s employment and inflation objectives than the Committee now expects, then increases in the target range for the federal funds rate are likely to occur sooner than currently anticipated”.

gold

“Consequently, the acknowledgement by the FOMC that inflation is likely to remain low in the near term, paired with a stronger USD after the FOMC statement, pressured gold…While the backdrop appears negative for gold, a break below $1,200 per ounce would likely stimulate physical demand, most notably from the emerging markets, we believe. Modest physical buying was already evident during the recent slide,” said HSBC Securities analyst James Steel.

Gold price traded today below the key $1,200 psychological level at the current $1,198.4. It slid one percent on Thursday to end the day at $1,200. The current price is the lowest in a month where the metal last hit a low of $1,183.20 on October 6.gold

Silver joined in sliding wagon, free-falling to hit below $17 per ounce on Thursday. The metal slumped more than three percent to end Thursday at $16.51 while current trade see prices at $16.36 per ounce.

gold

As with gold, the price slide had prompt attention from physical buyers who are taking to the industrial metal as a cheaper exposure to gold – GoldMoney’s Dealing Manager, Kelly-Ann Kearsey said the online bullion dealers’ customers were more upbeat about the industrial metal, “Whilst we’ve see net gold selling among our customers, we have concurrently seen net buying of silver. It’s not been everyone’s preference as on the main markets it’s lost fairly heavily, but it’s certainly caught the attention of some of our customers and kept silver’s trading with us in the positive.”

The PGMs have fallen in tandem with gold as well, with platinum dropping a percent on Thursday to end at $1,245 and current prices are now sitting at $1,239 per ounce. Palladium is lower as well, last trading at $777, a drop of $8 from yesterday’s $785.

Royal Gold bets on Macedonia mining’s future

Colorado’s Royal Gold (RGLD) decided to get in early with a US$175 million gold stream transaction on Euromax Resources’ (TSX-V: EOX) Ilovitza greenfield project, which, if all goes according to plan, will become Macedonia’s first modern gold mine.

In an interview with Mineweb Tuesday, Royal Gold Vice President of Operations William Zisch—who has worked on various international assignments developing mines for Newmont Mining and has been involved in due diligence for numerous projects in Royal Gold’s portfolio since 2009—noted that getting in early on a project gives Royal Gold the opportunity for more involvement in project development.

“Similar to many of Royal Gold’s principal properties, Ilovitza is a polymetallic [porphyry, copper and gold] deposit with attractive economics, a proven management team and strong local support,” said a Royal Gold News release issued Tuesday.Royal Gold bets

Ilovitza is located three kilometers east of the village of Ilovitza in the southeast of Macedonia, only 15 kilometers from the country’s border with Bulgaria.

The open pit project’s good infrastructure—which includes close proximity to a paved road to haul concentrate to the Petrich rail loading department and rail transportation directly to the Pirdop smelter in Bulgaria—met one of the criteria Royal Gold seeks in an investment, said Zisch. Access to power is also located close by.

“A good, solid resource base”, which thus far contains measured and indicated resources of 2.45 million ounces of gold and 905 million pounds of copper, was another important criteria for Royal Gold, Zisch noted, although a pre-feasibility study (PFS) for the project was only filed in July.

The PFS calls for average annual production of 95,000 gold ounces and 16,000 metric tons of copper at all-in costs of $334 per ounce over a 23-year mine life. Initial project capex is estimated at US$501 million.

Once in production, Euromax will deliver 25% of any gold produced from Ilovitza until 525,000 ounces have been delivered, when the percentage will be reduced to 12.5%. RGLD will pay 25% of spot price per ounce upon delivery.

Zisch also expressed confidence in Euromax’s “proven leadership team”, which includes four former top executives at European Goldfields, which was acquired by Eldorado Gold in 2012.

Meanwhile, Euromax has begun to recruit a team of Community Liaison Officers to expedite the stakeholder engagement and community liaison programs for the project. “The intention is for local people to have free access to the community office and communities team,” said Euromax. “This team will form the basis for the Community Relations group required during construction, operation and closure.”

In its presentations, Euromax claims the project enjoys “unprecedented local, national and international support,” which also appealed to Royal Gold, said Zisch. The project is “fully endorsed by [Macedonia’s] Prime Minister Gruevski and President Ivanov,” according to Euromax.

Ilovitza is the first greenfield development in the Balkans region of Europe in more than two decades. Macedonia is ranked 25th for doing business in the 2014 World Bank statistics. The Macedonian government is endorsing mining projects and “upgrading mining law to EU and consistency.”

Euromax said the country also offers “a straightforward and enlightened permitting process,” which has already allowed Euromax to have an “advanced project with permitting significantly progressed.”

Zisch said Royal Gold was also attracted to the geographic diversification of the project.

Royal Gold was especially enthusiastic about the staged gold stream transaction, which will be done in three tranches. “We like our ability to stage our investment”, Zisch explained, which permits Royal Gold to have certain conditions met during the progressive stages of the projects.

An initial tranche of $7.5 million will be due within 90 days from the signing of the streaming agreement with a second tranche of $7.5 million due on the first anniversary of the signing date. A third tranche of $160 million will be used toward the capital cost of the project.

Royal Gold bets

The first two tranches will be used to further project development, project permitting, and the completion of a definitive feasibility study and basic front end engineering study (FEED) planned for 2016.

If all goes according to plan, Ilovitza will commence production in 2018.

In a news release, Royal Gold CEO Tony Jensen said, “The Ilovitza represents a well-structured low-cost option on a long-life asset … Royal Gold is proud to assist in securing the financing necessary to significantly advance development and construction of this property.”

In a presentation to the Denver Gold Forum last September, Jenson said he much prefers growing the company asset by asset. Royal Gold is one of three players—including Silver Wheaton and Franco Nevada—which dominate the $25 billion royalty/streaming portion of the mining sector, which many junior and mid-tier mining companies are depending upon for capital in a tough financing environment.

Euromax Resources’ top management, who are based in London, did not respond to Mineweb’s request for comment Tuesday morning. In an announcement published Tuesday, Euromax CFO Varshan Gokool observed “the stream represents only 14% of our gold equivalent production and will satisfy 31% of our expected construction capital expenditure and further improve the Project IRR [investment rate of return].”

“We are absolutely delighted to be able to welcome Royal Gold as long-term partners at Ilovitza. We believe their commitment, which follows extensive technical, environmental and legal due diligence is a strong endorsement of the Ilovitza Project,” Sharpe said in the news release.

However, not everyone is thrilled with deal. Analyst Adam P. Graf of Cowen & Company said he is taking “a neutral position on the transaction, as a reasonable amount of development risk remains. The project has yet to undergo a Feasibility Study, then the construction.”

“The acquisition of the Euromax stream increases RGLD’s exposure to development projects,” said Graft in analysis published Tuesday. “Currently, the company’s portfolio is made up of ~72% producing assets and ~28% pre-production. Approximately 80% of our RGLD NAV is attributable to gold-based structures.”

PAKISTAN

Mosques, mosaics, carpets, rugs, warfare, cricket and Islam. These are just a few words that describe Pakistan. And indeed, the country has a lot to offer. It’s one of the oldest civilizations; its mountains have a third of the highest peaks in the world; they’re the best carpet or rug manufacturers; the best military air pilots are Pakistani; and none the less, they have one of the most competitive cricket teams.PAKISTAN

But most of all, they have one of the most polite and respectful populations. Pakistanis are welcoming and friendly. They are very diplomatic and will sugarcoat their words, use euphemisms or be very ambiguous when they deliver bad news. Pakistanis love to talk and half of the conversations at the workplace consist of small talk. They serve tea at any place, as it’s a sign of hospitality. It doesn’t mean you’re supposed to drop formalities. A friendly Pakistani doesn’t necessarily mean a friend. They love jokes, but generally dislike sarcasm or offensive humor, so keep it simple and lighthearted.

Quite strangely, smoking is widely accepted, but drinking is not. Pay attention to religious celebrations and don’t disturb anybody during those days. Don’t comment on religion, petroleum or international conflicts. Eat as much as you can when you’re invited for dinner. Not only you’re showing your appreciation, but it’s also a bad sign when you cook large amounts of food and it goes to waste. Also, if you step over a child’s feet or any other part of its body, that kid won’t grow anymore. If you stay on the porch or near your house’s door during the evening, it invites bad spirits inside.

PAKISTAN

If you’re going strictly to visit, Karachi is a large sea port and famous for its textiles. The same goes with Lahore, known for its production of carpets, but also for being a city with a long history. The Pharwala Fort, Saidpur or the Lok Virsa Museum are popular tourist attractions in Islamabad. Mosques are a must-see at the end of Ramadan. Weddings are also rich in traditions.

Best Brands of Camping Tents

Buying a tent is an investment because a good tent will last for years. Here are some top brands.

Coleman

Coleman is one of the leading manufacturers of camping supplies and gear including tents, camping stove, tables, chairs and utensils. The company offers a variety of tents. Coleman has tents that sleep 10 people and tents that sleep only two people. The dome style is one of Coleman’s popular options.

Best Brands of Camping Tents Ozark Trail

Ozark Trail tents are of good quality and are relatively inexpensive. The tents hold up well in rain. The tents can last for several years even with constant use.

Best Brands of Camping Tents

Eureka

Eureka is best known for providing quality large tents. In the 1970s and 1980s the company was popular with schools, children’s clubs and other organizations. Some tents from that era are still in use. Since then the company has begun offering smaller camping tents for single families and providing tents for the U.S. military. Many of their tents fall into the mid-range of pricing. The company also has more affordable options for smaller groups.

Best Brands of Camping Tents

North Pole USA

North Pole USA manufactures tents under its own brand name and for store brands, as well. Northwest Territory tents, which are available at Wal-Mart are made by North Pole USA. Great-land tents, sold at Target and Field & Stream tents sold at Dick’s Sporting Goods also are manufactured by North Pole USA.

Brian Williams is Dragging NBC Down? What about MSNBC?

I read a story earlier today about Brian Williams, the NBC anchor who is now on a 6 month suspension and, most likely, will never return from it. Apparently, the brass at NBC is concerned Williams was tarnishing the new division.

What about MSNBC?Brian Williams

Every day people like Al Sharpton go onto the airwaves under the MSNBC banner and make themselves – and their owners – look like morons. Rachel Maddow. Chris Matthews. And endless stream of idiots.

MSNBC is a disgrace and with all of the time and attention spent on Brian Williams the elephant in the room is conveniently ignored.

Brian Williams

I simply can’t understand why the idiots at NBC would not want out, immediately, of their relationship with that news channel. Their ratings are in the crapper, their hosts are delusional, and they have screaming mad Liberal bias.

Regardless whether Williams is fired or returns, NBC is done being a trusted name. The only difference between what happened at NBC versus what is happening at MSNBC is one is being held accountable while the other is not.

Stay Healthy – 7 Germ Proofing Tips

Winter season brings many things. One of them are germs. Nasty little germs that spread infections, bacteria and viruses like forest fire.

My number one priority for me and my family is to stay healthy and flu free during the winter months. It seems like once the flu hits your house all you do is disinfect and disinfect. The flu doesn’t leave without a fight. To stay healthy at this point is a challenge.

Most of the time in my house the flu and other infections come from school. Many school age children have weaker immune systems during the winter months.

Stay Healthy – 7 Germ Proofing Tips Since 80% of the infections and viruses spread through touch it takes only couple kids not to wash and disinfect their hands properly and the whole class can be sick with the flu in just a few days.

Luckily, since most of the infections spread through touch we can take few simple steps to protect ourselves and our families from nasty germs and stay healthy all year round.

Stay healthy and germ free with these 7 simple steps:

  • Disinfect, Disinfect and Disinfect…..once a day wipe your counters, house phone, all remote controls (don’t forget gaming system controls), keyboards, door knobs and door handles. I like to use Clorox Disinfecting Wipes
  • Use Hand Sanitizers….to disinfect every time you don’t have soap and hot running water on hand. The best choices are alcohol based hand gels, but I put hand sanitizers into my kids backpacks so I also buy alcohol-free hand sanitizers that are safe for kids. The alcohol free disinfectants are also safe for my diabetic son. The alcohol based hand sanitizers used to give him wrong blood glucose readings.
  • Wash Your Shower Curtain….at least once a week depending on the amount of showers your family takes to get rid of the mold causing bacteria from the moisture.Stay Healthy – 7 Germ Proofing Tips
  • Keep Your Kitchen Clean…once a week disinfect and kill bacteria in your kitchen sink and garbage can by scrubbing it with diluted bleach. Don’t forget to disinfect your sponges, scrub your cutting boards, and clean microwave, fridge and dishwasher handles.
  • Spray Disinfectants….around your home. Every few days I walk around with Lysol or Clorex disinfectant spray and spray curtains, kids toys and stuffed animals, carpets, sofa and everything that gets touched or germs can easily land on.
  • Tissue Boxes…I have tissue boxes spread around the house so whoever needs them can use them easily and dispose of them immediately.
  • Teach and Live By Example….teach your children to wash their hands properly everywhere they go and often. Preach what you teach. It is the best way to stay healthy.

Stay healthy and germ free this flu season. Don’t forget that proper diet and exercise play also a big part of staying healthy.

Things to Do in January in Ohio

Ohio is home to the Great Lakes Science Center and the Roebling Suspension Bridge, but there’s more to this state than just great attractions. No matter when you make it here, Ohio has a lot to offer and January is no exception. Whether you want to enjoy nature or spend your time surrounded by luxury, Ohio has something for everybody during the first month of the year.

Things to Do in January in Ohio 1

Paint Valley Jamboree

The second Saturday of January, country and bluegrass lovers can make their way to Paxton Theater in Bainbridge to be part of the oldest music festival in the state. “No alcohol, no smoking, no drugs” is a commonly used slogan to promote this family-friendly festival, which last three hours starting at 7 p.m. The show does attract a mostly older crowd, but high-schoolers sometimes drop by as well, usually in groups, to enjoy the performances and the guitar solos.

Paint Valley Jamboree
125 E. Main Street
Bainbridge, OH 45612
(740) 634-3333

Things to Do in January in Ohio 1

Cleveland Boat and Waterfront Lifestyle Expo

Every year between January 16 and 25, boat lovers meet up in Cleveland for the country’s largest indoor boat festival, the Cleveland Boat and Waterfront Lifestyle Expo. Held at the Cleveland International Exposition (I-X) Center, it features more than 1,000 boats, new and used, most of which are for sale. There are also models of waterfront houses, educational shows for kids, boat parts and accessories, and a nautical flea market. There are also sailing tours, sunset cruises and the opportunity to win your own boat. A large indoor amusement park is also housed in the I-X Center, making it a great destination for the whole family.

I-X Center
6200 Riverside Dr.
Cleveland, OH 44135
(216) 676-6000Things to Do in January in Ohio 1

Winter Hike-Hocking Hills State Park

Hocking Hills State Park is home to the Annual Winter Hike that has been a tradition for more than 60 years. What started as a 60-hiker walk on January 17, 1965, has turned into a major event that attracted more than 5,000 hikers in 2009. While pet and kid-friendly, this hike is more than 5 miles long, so skittish dogs and kids younger than 8 may have a hard time on the wintery roads. Patches of snow, rugged hillsides and caves are all part of the hike, and those who finish are rewarded with steamy bean soup and sassafras tea.

Hocking Hills State Park
State Route 664 in Hocking County
12 Miles South of Logan
(740) 385-6842

Best Salmon Fishing Tackle

Salmon has been a prime prize for fishermen all around the world. The seven different species lend to a variety of delicious dishes, and their widespread habitat allows fishermen to find them in streams and salt water alike. You can use whatever type of lure you feel comfortable with when you go fishing. But if you want to make sure you get some salmon on your hook, try one of these three fishing tackles.

Trolling Lures

Trolling lures work great when you know exactly what type of salmon you’re fishing for. Green colors work great for salmon. Ultraviolet colors attract all types of salmon at all depths. How fast you’re trolling is going to determine how many fish you catch, most fish swim at 1 mph per inch of length. A 6-inch fish will generally swim 6 mph. Experiment with different RPM speeds to see what get the fish going crazy. The direction your boat is sailing in (up wind or down wind) affects the speed and depth of your troll, so always be conscience of your direction. Make sure you have a strong fishing line, and let out anywhere between 100 and 200 feet of line behind your boat. Steer in gentle “S” curves to attract more attention from fish. Don’t go for more than 15 minutes without changing or checking your lure.

Best Salmon Fishing Tackle

Flashtrap Spinners

Flashtrap spinners have been a solid salmon slayer for beginners and professionals for many years. Many charter captains swear by them when looking for salmon in saltwater. They also work exceptionally well in lakes and streams. They are extremely effective on King and Silver salmon. They come designed with single or treble hooks and the wide variety of colors makes them a must-have for any salmon fisher’s tackle box.

Best Salmon Fishing Tackle

Salmon’s Eggs

Salmon’s eggs have been used by fishermen to entice salmon for ages. King and Silver salmon simply go crazy over them. They come in two different forms: salmon skein and loose eggs. A salmon skein is basically hundreds of salmon eggs bunched together to form one piece of salmon skein. If you use skeins, you’re going to have to cut them to the size of your choice, or break them down to loose eggs. Hook your Salmon egg and attach a small weight above the hook. There should be at least 10 to 12 inches between the hook and weight. Depending on where you are fishing, you can let the stream carry your bait, or let it sit and wait for the fish to start biting.

Best Salmon Fishing Tackle

Honeymoon Ideas in October

October is an ideal month to travel and a great time to take a honeymoon. The high travel season of summer has passed, leading to fewer crowds and better pricing. Locations offering the best scenery and activities autumn has to offer are at their peak and hurricane season is coming to a close in tropical locations. All of these things lead to wonderful honeymoon options for a reasonable cost.Honeymoon

City Hop in Europe

Spending your days exploring museums and markets, and then relaxing each evening at dimly lit restaurants sipping wine among the dramatic European landscapes is a romantic way to spend a honeymoon. By the time October comes around, many of the crowds which overflow in the summer months have retreated back to their homes. Hotels, inns and resorts tend to drop their prices a bit and may offer weekend specials. In addition, the weather is comfortable and the threat of wintery conditions is not yet a risk. Consider choosing a few cities close together that are easily accessible by train. For example, you can go to Prague, Budapest and Vienna and spend only two to four hours on each train ride getting from place to place. You might also consider experiencing the diversity of one country such as Italy where you can travel by train to Venice, Bologna and Florence.

European Tourist Office
USA Branch
2554 Veteran Avenue
Los Angeles, CA 90064

Completely Relax in the Caribbean

Honeymoon If you want a relaxing vacation without the worry of planning what to do and where to eat an all-inclusive, couples-only resort will be an enjoyable vacation for you. Here you will have the option to lay by the pool all day or be a bit more active with water sports and off-site excursions. You can sip fruity drinks and munch on tasty beach snacks all afternoon, and then get dressed up for an elegant dinner with top shelf martinis. A bonus to going this time of year is that, as kids go back to school, parents stay at home and resorts often drop prices to reflect this. In addition, hurricane season is winding down with the official end being November 30th, therefore risks of bad weather are reduced. These types of resorts exist all over the Caribbean but Jamaica and St. Lucia are popular locations.

Jamaica Tourist Board
Cornwall Beach
P. O. Box 67
Montego Bay
Jamaica, West Indies
(876) 952-4425

Saint Lucia Tourist Board
P.O. Box 221 Sureline Bldg
Vide Boutielle
Castries
Saint Lucia
(758) 452-4094

Enjoy the Autumn Colors of the U.S.

Honeymoon Leisurely days driving through the countryside enjoying the beautiful scenery created by the changing colors of trees, and then spending the evenings by a crackling fire with spiced apple cider is an excellent option for a romantic October honeymoon. Some of the top rated places to see fall foliage include Lake Champlain, Vermont, the Smokey Mountains National Park in North Carolina and Tennessee, and Charlottesville, Virginia. You can spend your day hiking or driving and your nights dining at local restaurants in the nearest town center. Each place offers cozy inns or lodges where you can soak up the nature around you and enjoy local fall favorites such as apples, apple cider and maple syrup.

Lake Champlain Regional Chamber of Commerce
60 Main Street
Burlington, VT 05401
vermont@vermont.org
(877) 686-5253

Great Smoky Mountains National Park
107 Park Headquarters Road
Gatlinburg, TN 37738
(865) 436-1200

Charlottesville Downtown Visitor’s Center
610 East Main Street
Charlottesville, VA 22902
(434) 293-6789

List of Casinos in Michigan

Whether someone gambles for fun or enjoys being a high roller every night, Michigan has a good share of luxurious and entertaining casinos. Spread throughout every corner of the state, casinos that are nearby are not difficult to find. Most of these casinos are themed, which make them not only fun to play at but also wonderful to observe.

Greektown Casino

Greektown Casino is in the heart of Detroit, right in the middle of the Greektown business district. This casino has two floors of gaming and entertainment for guests. Upon entry, the rich Greek architecture draws the eye in. There are several games to choose from, including blackjack, three-card poker and roulette, which are located on both floors, including the top-floor VIP section. This casino has many slots, including Powerball and Monopoly Big Event.

Greektown Casino
555 E. Lafayette Ave.
Detroit, MI 48226
(888) 771-4386

List of Casinos in Michigan

MGM Grand

MGM Grand was built in 2007 and is one of the classiest casinos in Detroit. MGM is a stately casino that has rich, art-deco architecture and classy gaming areas. It is full of high-roller sections that are waiting for guests to bet and penny slots for those still warming up. Attached to the casino is a four-star hotel, where guests can stay and play without having to leave the area. Wolfgang Puck has one of his signature bistros on the main floor of the casino that offers world-class cuisine at affordable prices.

MGM Grand Detroit
1777 Third St.
Detroit, MI 48226
(877) 888-2121

List of Casinos in Michigan

Motorcity Casino

Motorcity Casino is all about gaming in Motor City. This mammoth casino towers over Detroit With its shiny, silver exterior and high-tech neon lights, this casino refuses to be passed by. Inside, guests are welcomed to a high-tech, futuristic atmosphere sure to please any gaming enthusiast. Packed with two solid floors of slots, such as Lucky Penny, Samurai Master, Blazing 7’s and Time Machine, guests will be entertained and almost ensured to walk away happy.

Motorcity Casino
2901 Grand River Ave.
Detroit, MI 48201
(877) 777-0711

Soaring Eagle Casino

Soaring Eagle Casino and resort is in Mount Pleasant. This casino is reminiscent of a large lodge in the middle of the north woods. It has more than 1,500 slot machines and customized card games for the gaming enthusiast. Some of the most popular slot machines include Scavenger Hunt and Power Strike. This casino is also home to world-class entertainment, with a concert hall and a banquet facility that can accommodate more than 500 people. Other amenities include a spa, pool and child-care facility called Kids Quest.

Soaring Eagle Casino & Resort
6800 Soaring Eagle Blvd.
Mount Pleasant, MI 48858
(877) 232-4532

List of Casinos in Michigan

Kewadin Shores Casino

Kewadin Shores Casino and Hotel is in beautiful St. Ignace, Michigan. This tribal casino is open year-round and offers slot machines, money wheels, craps, roulette and blackjack. The hotel is located near the hub of many tourist attractions in the area, Mackinac Island and Castle Rock. Although the hotel is not attached to the casino, a shuttle is available to transport guests back and forth.

Kewadin Shores Casino
3039 Mackinac Trail
St. Ignace, MI 49781
(800) 539-2346