Comex Gold Hits New Record

"Gold hits new all-time record high of $1,351/oz. in December futures."

Comex gold prices are trading higher and hit another new all-time record high of $1,351/oz. in December futures. The wave of investment demand for the yellow metal appears to be picking up significant momentum. December Comex gold last traded up $7.70/oz. at $1,348. Spot gold was last quoted up $6.20 at $1,347.50.

The U.S. Dollar Index is trading near steady, but did hit another fresh 8.5-month low overnight. The euro hit some turbulence overnight as reports said Fitch just downgraded Ireland's credit rating.

Most agree gold's latest surge has been due in major part to the slumping greenback, as many investors believe a fresh round of QE is in the offing, possibly in early November. That's strongly dollar-bearish. The Bank of Japan and the Reserve Bank of Australia CBs this week announced they are adopting more stimulative monetary policies, which ostensibly "sets the table" for a U.S. stimulative package soon. If and when the Fed announces a fresh monetary stimulus package, I would not be surprised to see the U.S. Dollar Index actually rally, and it could even put in a near-term low. Why? Traders and investors are already factoring into the markets' pricing structure the much-expected U.S. QE. Once that is officially announced, traders may well adopt a "buy the rumor, sell the fact" scenario, a phenomenon widely known by veteran market watchers.

Gold investors should be aware of this distinct possibility, as gold prices could see a significant downside price correction if the U.S. Dollar Index does put in a near-term market bottom.

The major U.S. economic report this week is Friday's jobs report. A stronger-than-expected jobs report would likely provide a lift for the U.S. Dollar Index and be bearish for the gold market.

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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