Gold Hits Record, Closes in on $1,400

Source: MarketWatch, Claudia Assis (11/5/10)

"Prices more in line with interest rate environment, analysts said."

Gold futures turned higher Friday to post a fresh record, approaching $1,400 an ounce a day after their biggest one-day gain in roughly 20 months.

Gold for December added $14, or 1%, to $1,396.40 an ounce on the Comex division of New York Mercantile Exchange.

The metal went from losses to subdued gains to rally in less than three hours of floor trading.

Gold rallied to a record settlement of $1,383.10 an ounce on Thursday, a day after the U.S. Federal Reserve's decision to buy an additional $600 billion in U.S. Treasurys to stimulate the economy.

Quantitative easing gave investors a fresh reason to sell the dollar and seek a hedge against inflation in gold.

Silver and copper also gained on Friday. Silver for December delivery surged $0.81, or 3.1%, to $26.86 an ounce, a fresh 30-year high for the metal.

December copper added $0.70, or 1.8%, to $3.98 a pound, its best since May 2008.

The extended rally in metals overrode a gain in the U.S. dollar following a stronger-than-expected U.S. jobs report.

Fed officials Wednesday announced their additional bond-buying spree and kept rates near zero. Markets' reaction on Thursday was dramatic: Alongside surging commodities and treasuries, the Dow Jones Industrial Average surged more than 200 points to the level it was at just before Lehman Brothers collapsed in September 2008.

Gold is on track to rise to $1,650 an ounce over the next 12 months and could surpass that level, analysts at Goldman Sachs said in a note to clients Friday.

This week's rally moved "gold prices more in line with the low U.S. real interest rate environment," the analysts said.

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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