Gold Prices Inching Higher

Source: The Street, Alix Steel (11/17/10)

"Gold, for now, seems to have stemmed its furious selloff from Tuesday."

Gold prices were rising slightly Wednesday after shedding 1.5% of their value on a broad market selloff the day before.

Gold for December delivery was adding $2.90 to $1,341.30 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Wednesday has traded as high as $1,344.60 and as low as $1,330.10.

The U.S. dollar index was losing 0.34% to $78.94 while the euro was rising slightly to $1.35 vs. the dollar. The spot gold price was down $0.10, according to Kitco's gold index.

Gold, for now, seems to have stemmed its furious selloff from Tuesday as investors stepped in to buy gold at lower prices. But gold prices will probably stay in no-man's land as uncertainty in Ireland weighs on the euro, helps the dollar and caps any gains in gold.

Promising to weigh on gold prices is the threat of China raising interest rates to fight inflation. The U.S. Department of Labor also said Wednesday that the core Consumer Price Index, an inflation indicator, was unchanged in October month over month. Possible decreasing inflation in China and no inflation in the U.S. are hurting investors who bought gold as an inflation hedge.

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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