Gold, Silver Prices Rise Ahead of Fed Comments

Source: The Street, Alix Steel (4/27/11)

"Gold and silver don't always react inversely to the dollar, but today they will."

Gold and silver prices were slightly higher Wednesday as markets awaited the Federal Reserve's rate decision and Ben Bernanke's first press conference.

Gold prices for June were adding $2.70 to $1,506.80 an ounce at the Comex division of the New York Mercantile Exchange. Gold prices have stayed in a tight range from $1,504 to $1,503 an ounce, while the spot gold price was flat, according to Kitco's gold index. The U.S. dollar index was moving slightly higher at $73.77.

Silver prices were adding $0.14 to $45.19 an ounce.

The Fed will make or break the commodities today with its interest rate policy decision expected at 12:30 p.m. EST and Ben Bernanke answering press questions at 2:15. No change in policy is expected but the language is the key.

Will inflation be longer term leading to a sooner-than-expected rate hike and how will the Fed exit quantitative easing round two in June? Will it be a hard landing or will its balance sheet stay the same keeping a lot of money in the system. The Fed has pumped more than $2 trillion since the start of its cheap and easy monetary policy.

A loose money policy winds up hurting the dollar as more greenbacks in circulation make them worth less, lifting gold and silver as a perceived safer form of money. Gold and silver don't always react inversely to the dollar, but today they will.

Gold Explorer Highlights 2020 Achievements and Outlook
Source: Streetwise Reports (01/29/2021)

Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.

Cabral Gold's channel samples at the JM target provide "further evidence that numerous high-grade veins occur within the Cuiú Cuiú district."

Explorer Completes Phase 2 Metallurgical Work for Palladium-Copper Project
Source: Streetwise Reports (01/28/2021)

Generation Mining intends to wrap up the feasibility study on Marathon this quarter.

Silver Firm Reports Q4/20 Processing, Production Numbers from Mexico Project
Source: Streetwise Reports (01/28/2021)

MAG Silver's joint venture project Juanicipio produced 230,000 ounces of silver during the quarter ended Dec. 31, 2020.

Explorer Reports High-Grade Gold-Silver Intercepts at BC Golden Triangle Property
Source: Streetwise Reports (01/27/2021)

Scottie Resources Corp. advises that the target remains open in most directions.

Golden Arrow Resources Out Exploring Again After COVID-19; Hits High-Grade Gold at Tierra Dorada in Paraguay
Source: The Critical Investor for Streetwise Reports (01/27/2021)

The Critical Investor explains why he believes "investors have an interesting opportunity to invest in a pretty derisked, undervalued and experienced explorer with three chances for success."

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Shenanigans Abound: Gold, Silver and Cryptocurrency
Source: Michael Ballanger for Streetwise Reports (01/26/2021)

Sector expert Michael Ballanger explores the generational trends currently shaping investment markets, including the precious metals.

MMT Survey Helps Explorer Identify New Large Target at Ecuador Property
Source: Streetwise Reports (01/26/2021)

Aurania Resources reported that data from an ongoing Mobile MT Survey identified an extensive target at Tsenken at its Lost Cities - Cutucu Project in southeastern Ecuador.