Gold Fluctuates as It Nears Floor Closing

Source: MarketWatch, Claudia Assis and Nick Godt (10/18/10)

"Investors buying on dips pushed gold higher and minimized losses."

Gold futures edged lower Monday, but investors who were buying on the dips pushed gold higher at times and minimized losses.

Gold for December delivery fell 50 cents to $1,371.70 an ounce, though bullion made some short-lived forays into positive territory. Silver kept steady, holding on to a 30-year high.

The market gathered some steam as the dollar weakened, said Stephen Platt, a commodity analysts with Archer Financial Services in Chicago.

The Dollar Index, which measures the U.S. unit against a basket of six major currencies, declined to 76.94 from 77.038 late Friday.

Gold has become increasingly popular as investors mull currency uncertainties and the prospects of more steps to support the economy. Since early September, gold futures have posted a string of record highs.

The metal, however, may have reached a level "where meaningful upside, without some consolidation, may be hard to come by," said Miller Tabak Market Strategist Dan Greenhaus in a note.

Gold prices earlier hit an intraday low of $1,353.20 an ounce.

The metal dropped Friday after macroeconomic indicators suggested an improved economic picture while Federal Reserve Chairman Ben Bernanke made cautious remarks about the extent of further monetary easing.

Meanwhile, silver for December delivery rose 0.6% to $24.43 an ounce.

December copper advanced $0.2, or 0.4%, to $3.86 a pound. Industrial production declined in September, the Fed said Monday. Production slid 0.2%, the first drop in six months.

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Source: Streetwise Reports (07/13/2020)

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"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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