The Gold Report
Gold has been showing exceptional strength in the last couple of weeks despite a number of factors that could have caused a significant pullback. For example, a number of US economic indicators were recently revised to the upside, reducing the expectations of further rate cuts this year. In addition, Axel Weber, an influential member of the European Central Bank's governing council and president of Germany's Bundesbank, expressed concern about inflation indicating that further monetary tightening could continue in the euro zone.
But this did not deter gold from moving higher. Big money continued to flow into the Street TRACKS ETF (GLD), which added 15 tonnes in two weeks for a total of 593 tonnes.
Is gold going to spike (in the style of the April-May 2006 run) to an all-time high of $850, or pullback to the lower $700’s? A pullback now would be much more favorable as it would be a setup for a further, more powerful run later this year. But we cannot exclude the possibility that an upward spike could occur in the near future either.
Notable Quotes
"TMM is a favorite; it just had another record-breaking quarter." (5/24/13) Timmins Gold Corp. - The Gold Report Interview with Ivan Lo More >
"We are comfortable with CSI's ability to begin pouring gold by Q4/13." (5/16/13) Colossus Minerals Inc. - Joseph Fazzini, Dundee Securities More >
"BTO reported solid Q1/13 results; its balance sheet remains strong." (5/16/13) B2Gold Corp. - Morning Coffee More >
"The bankable feasibility study results on SGC's Asmara are positive." (5/16/13) Sunridge Gold Corp. - Adam Lucas, Ocean Equities More >
"Free cash flow at AR should be stronger in H2/13 as production ramps up at La Colorada." (5/15/13) Argonaut Gold Inc. - Christos Doulis, Stonecap Securities More >
Where Is Gold Headed Next?
Source: Boris Sobolev, Seeking Alpha (10/16/07)
...Big money continued to flow into the Street TRACKS ETF (GLD), which added 15 tonnes in two weeks for a total of 593 tonnes.
More Experts
"MND's Costerfield delivered another solid quarter across all metrics." (5/15/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities More >
"We favor SVL as it continues in 2013 with strong production numbers." (5/15/13) SilverCrest Mines Inc. - Philip Ker, PI Financial More >
"Drilling the remaining strike length could more than double INM's La Cigarra resource." (5/22/13) International Northair Mines Ltd. - The Gold Report Interview with Maria Smirnova More >
"BAR's Bug Lake zone has grown by 350m and remains open." (5/14/13) Balmoral Resources Ltd. - Erik Bermel, M Partners More >
"ROG's Burkina Faso deposit will be easy to mine, inexpensive to build and very profitable." (5/20/13) Roxgold Inc. - The Gold Report Interview with Brent Cook More >