Gold Rises on Greece Debt Fears, Silver Gains

Source: Reuters (5/27/11)

"Gold may revisit a recent three-week top before profit taking kicks in."

Reuters

Gold gained on Friday as mounting worries about a Greece debt default prompted buying from investors, while silver regained strength after tumbling from a two-week top in the previous session.

Gold may revisit a recent three-week top before profit taking kicks in, while silver—which has outpaced gold and is heading for its best weekly gain since late April at more than 7%—will continue seeing volatile price movements, analysts said.

"It's still the expectation that there's a possibility for a Greece default and a greater safe-haven buying coming to the precious metal such as gold and silver," said Ong Yi Ling, investment analyst at Phillip Futures in Singapore

"With gold prices actually close to a 3-week high, then perhaps you could also see some profit taking and some closing of the bullish position later in the day," she said.

"I guess for silver, it's a lot of speculation and a lot of volatile movements. I would expect that to continue. We're not seeing the longer-term investors really coming back into the market yet," said Ong of Phillip Futures.

"It's pretty much speculation and volatility going forward."

Precious metals prices continued to be supported by jitters over Greece's debt problems that could have a big ripple effect across other high risk-European countries struggling with gaping fiscal deficits.

The International Monetary Fund could withhold the next slice of aid to Greece due next month, the head of euro zone finance ministers said on Thursday, spooking markets with the possibility of a default.

Overall trading was slow in the bullion market ahead of the U.S. Memorial Day holiday weekend. COMEX June gold futures rose $3.3 an ounce to $1,526.1 an ounce.

A softer dollar also underpinned sentiment.

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.