.@JPMorgan Remains King Of The #Gold Market Accounting For 1/3 Of All Trade In Gold Bars on #Comex in October, +40% in June

JPMorgan earned record revenue of around $1 billion so far this year from trading, storing and financing precious metals, vastly outperforming rival banks, reports Reuters.

The U.S. bank's revenue by mid-November accounts for at least half of the $1.7 billion to $2 billion the top 10 investment banks combined will make this year from precious metals, mostly gold, estimates consultancy McKinsey CIB Insights.

Its commodities division is on track to bring in more than $1.5 billion this year and could challenge Goldman Sachs for the title of top earner, the sources said.

Data from CME Group, which runs Comex, show JPMorgan's clients accounted for one-third of all trade in gold bars registered with the exchange in October, and more than two fifths in June.

Like other big banks, JPMorgan was able to get and ship metal cheaply and in large quantities when other, smaller traders could not, sources said.

See the whole article on Reuters here: https://www.reuters.com/article/us-precious-revenue-jpmorgan-exclusive-idUSKBN2831N5

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MasterMetals

@MasterMetals

#RoscanGold $ROS Continues to Hit #Gold at Southern Mankouke: Intersects 5.35gpt Gold over 53m & 3.99gpt over 17m @GoldRoscan

Roscan Gold Intersects 5.35gpt Gold over 53m in DDH-79 at Southern Mankouke and 3.99gpt over 17m in Fresh Rock in DDH-77

Southern Mankouke - Diamond Drilling Highlights:

5.35 gpt gold over 53m from drill hole DDMAN20-79 from 126.5m
Including 7.78 gpt gold over 5m from 128.5m
And 12.5 gpt gold over 12m from 157.5m

And 2.52 gpt gold over 47m from drill hole DDMAN20-79 from 45.5m
Including 10.3 gpt gold over 6m from 72.5m

2.84 gpt gold over 40m from drill hole DDMAN20-70 from 114.5m
Including 6.23 gpt gold over 4m from 121.5m
And 7.06 gpt gold over 8m from 144.5m

13.9 gpt gold over 6m from drill hole DDMAN20-81 from 53.5m
Including 36.7 gpt gold over 2m from 56.5m

3.99 gpt gold over 17m from drill hole DDMAN20-77 from 166.3m
Including 8.43 gpt gold over 4m from 168.3m

Toronto, Ontario--(Newsfile Corp. - November 23, 2020) -  Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce positive diamond drill results (Figure 1) from an additional 16 holes totaling 3,241 meters (m) at its Southern Mankouke Discovery. DDMan-20-79 (Figure 1 and Figure 2) intersected 5.35 gpt over 53m from 126.5m, including 12.5 gpt over 12m. Additionally, hole DDMan-20-77 intersected 3.99 gpt over 17m from 166.3m in Fresh Rock (Figure 3).

This very important discovery at Southern Mankouke has a strong magnetic signature and we plan to conduct a detailed interpretation of the recently completed air borne geophysical survey to assist in further drilling.

#Zinc @LME hits 18-month high of $2,793/t Friday-outperforming high-flying Dr. #Copper-on supply squeeze, even as stealth stocks build

Shanghai zinc trades like a steel derivative -

Zinc soars on supply squeeze even as stealth stocks build

Andy Home

(The opinions expressed here are those of the author, a columnist for Reuters)

LONDON (Reuters) - Zinc has emerged as the unlikely star performer in the London Metal Exchange (LME) base metals suite.

LME three-month zinc CMZN3 hit a fresh 18-month high of $2,793 per tonne on Friday and is even outperforming high-flying copper.

The trigger for the latest leap higher was news that the Gamsberg mine in South Africa is shuttered until further notice while a search continues for two miners missing after an accident.

This is another unexpected hit to a raw materials supply chain already wrecked by COVID-19 mine lockdowns.

Demand, meanwhile, is running strong in China, where zinc has been sucked into steel's bull orbit.