Gold Steady as Dollar Continues to Weaken

Notable Quotes

"NG could be quite rewarding to a patient resource investor." (2/6/12) NovaGold Resources Inc. - The Gold Report Interview with Byron King More >

"RV has multiple catalysts from a diversified asset base." (2/3/12) Revolution Resources Corp. - The Gold Report Interview with Joe Mazumdar More >

"Tests indicated NGC's jumbo flake is superior to Chinese graphite." (2/2/12) Northern Graphite Corporation - Morning Coffee More >

"LMA has a strong growth profile." (2/1/12) La Mancha Resources Inc. - Nicholas Campbell, Canaccord Genuity More >

"SVL is in a position to power much higher." (2/1/12) SilverCrest Mines Inc. - Clive Maund, Clive Maund gold, silver, & oil shares More >

"CNL continue to return robust average gold grades." (2/2/12) Continental Gold Ltd. - Jamie Spratt, Clarus Securities More >

"It is a critical year for ORV." (2/3/12) Orvana Minerals Corp. - The Gold Report Interview with Joe Mazumdar More >

"LMA has released excellent exploration drill results from two properties." (2/1/12) La Mancha Resources Inc. - Adam Lucas, Ocean Equities More >

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Gold Steady as Dollar Continues to Weaken

Source: Market Oracle, GoldCore��(7/21/09)

"Activity in gold ETFs has been particularly positive. . ."

Gold: Gold continues to hold steady in the face of continuing dollar weakness. The dollar has firmed up slightly this morning, resulting in gold dipping below the $950/oz mark, a level it sustained in trading yesterday. Activity in gold ETFs has been particularly positive with the ZKB ETF reporting the 4th consecutive week of positive inflows and news that bank vaults in Switzerland are having capacity issues due to the volumes of gold and silver being stored there.

Silver: Silver has followed suit, mirroring the fortunes of gold. After trading in the high $13.60s yesterday, silver has also been affected by the slight strengthening of the dollar and has dipped to $13.60/oz. A break above $14/oz could see silver quickly challenge the recent highs at the $16/oz mark.

Platinum group metals: Platinum is up in early morning trading, a small $2 to $1183/oz. A sustained hold above $1,200/oz would be a positive signal for this metal. Palladium pushed through $250/oz yesterday, an important benchmark and is currently trading at $252/oz. After a couple of weeks of downward momentum, rhodium has gained overnight and is currently trading at $1,375/$1,500/oz.