Gold Rises After Biggest Drop in Almost 3 Weeks; Silver Gains

Source: Bloomberg (10/23/07)

"Gold's move yesterday was a bit overdone," said Jonathan Barratt, managing director of Commodity Broking Services in Sydney. Demand for gold as an investment underpinned bullion at around the $746 level, he said.

Gold rose in Asia after the biggest decline in almost three weeks was seen as overdone by some investors. Silver gained.

Bullion lost 1.4 percent yesterday, the largest one-day drop since Oct. 2, as the dollar's rebound from a record against the euro reduced the precious metal's appeal as an alternative investment. The euro stabilized at $1.4197 at 10:48 a.m. Singapore time today, after losing 0.8 percent yesterday.

"Gold's move yesterday was a bit overdone," said Jonathan Barratt, managing director of Commodity Broking Services in Sydney. Demand for gold as an investment underpinned bullion at around the $746 level, he said.

Gold for immediate delivery gained as much as $3.70, or 0.5 percent, to $757.90 an ounce, before trading at $757.60 at 10:36 a.m. in Singapore. It fell to as low as $745.83 yesterday. Silver for immediate delivery gained 3 cents, or 0.3 percent, to $13.50 an ounce.

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."