Gold, Platinum Ease on Profit-Taking

Source: Thomson Financial (10/12/07)

"Gold and the precious metals continue to benefit from a combination of bullish factors, including persistent US dollar declines, high oil prices, a resurgence in credit market worries and strong fund and other speculative purchases," said James Steel, an analyst at HSBC.

Gold and platinum eased a touch as investors took profits after both metals reached fresh highs in late trade yesterday, with ongoing weakness in the US dollar sparking further fund buying.

The US currency, which has rallied a touch in the course of the last week, is currently languishing near record lows against the euro, encouraging further buying of the precious metals.

Gold is seen as an alternative investment to the US currency and typically moves in an inverse relationship to it. Weakness in the dollar, in which the precious metals are denominated, also makes gold and platinum cheaper for holders of other currencies.

"Gold and the precious metals continue to benefit from a combination of bullish factors, including persistent US dollar declines, high oil prices, a resurgence in credit market worries and strong fund and other speculative purchases," said James Steel, an analyst at HSBC.

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"

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."