Gold, Silver Surge to New Records

Source: ABC News, Lyneka Little (9/29/10)

"Silver hits 30-year high, and gold's at highest price ever recorded."

Silver touched $22/oz. Tuesday—its highest since 1980, after surging 36% this year. Gold, which has increased 19% in 2010, jumped to $1,313/oz.—the highest ever recorded.

With stocks in the dumps and government deficits spiraling, Americans are increasingly turning their attention to silver and other precious metals (PMs).

Having more than doubled in price in two years, gold has prompted investors to load up on cheaper silver. Silver has gained 21% in price vs. gold this year.

"Some people are worried about the currency debasement and have done some research about the fundamentals of silver and. . .gold; and silver looks like a better deal," said The Morgan Report's David Morgan.

Silver's recent ascent has been more gradual than that in the '80s. "It's something that has been evolving for quite a few years," says David Smith, contributor The Morgan Report. "In the '80s, we had a bull market that sent silver to $50/oz., and then it went into a bear market after collapse. We moved into an accumulation phase and since that time silver and gold has been rising sharply."

Low interest rates are another factor in the rush to PMs, experts say. The average money market account nationwide pays just .69% interest, according to Bankrate.com. That's less than 1% annually.

For consumers, "putting money in the bank is no different from burying it in the ground. The interest rate is basically the same—zero. I think people put money in the bank just so they can write checks; there's no financial benefit to doing it," says Euro Pacific President Peter Schiff.

Can the gains in precious metals continue? "I think silver has gotten ahead of itself," Morgan says, ". . .if it moves that big of a percentage that quickly, it's almost always due a correction."

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

"China's export quota could be opportunity for Canadian miners"

Latin America: Six Gold Juniors Amass 100M+ Ounces
Source: Marc Davis, BNW News (05/25/2010)

Latin America, the world's last great mineral frontier for prolific gold discoveries, is proving a godsend for some lucky investors.

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."

I haven’t spoken to my old mining stock friend, noted and universally respected gold stock guru, Bob Bishop, about Rare Element in a year, but I hear he is still a supporter and very large shareholder. I don’t believe he will hold it against me to remind you that this was one of his favorite holdings when he left the newsletter writing business. . .

It's Only the Beginning for Uranium
Source: www.financialinsights.com (06/03/2005)

Dr. Richard S. Appel, author of Financial Insights, first became bullish on uranium in mid-2003, when it appeared obvious that its supply versus demand equation was fated to seriously drive higher its price. Since then, a series of events in the uranium industry has led Appel to believe that uranium prices will reach never before seen levels.

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