Gold Rallies for Fourth Day

Source: Bloomberg, Nicholas Larkin and Pham-Duy Nguyen (5/25/11)

"The yellow metal is heading for the longest rally in three weeks as European debt stokes demand."

Bloomberg, Nicholas Larkin and Pham-Duy Nguyen

Gold rose for a fourth day, heading for the longest rally in three weeks, as Europe's debt crisis increased investor demand for the precious metal as a protection of wealth.

Christian Noyer, a Governing Council member of the European Central Bank, yesterday ruled out a restructuring of Greece's debt, calling it a "horror story" that would leave the nation shut out of financing for years. Gold priced in euros and British pounds climbed to records today as policy makers disagree over how to solve Greece's fiscal woes.

"We are bullish of gold in both U.S. dollar terms and non-U.S. dollar terms," said Dennis Gartman, an economist and the editor of the Suffolk, Virginia-based Gartman Letter. "The trend here is clearly to the upside as the problems in Europe prove to be more and more intractable."

Gold futures for June delivery rose $5.30, or 0.3 percent, to $1,528.60 an ounce at 11:21 a.m. on the Comex in New York. Before today, the metal had gained 28 percent in the past year, touching a record $1,577.40 on May 2.

"The trump-card currency of choice is gold, and in all likelihood, it shall become even more readily embraced, not less so, in the days and weeks ahead as Europe's problems worsen," Gartman said.

Some European Union officials have supported a so-called reprofiling of Greece's debt, whereby its payback period could be lengthened and interest costs may be reduced. Moody's Investors Service is "very likely" to class a reprofiling of Greek debt as a default, according to its EMEA Chief Credit Officer Alastair Wilson.

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.