Gold has traded between $1,231 and $1,243 so far today…as of 8:00 am Pacific, bullion is up $8 an ounce at $1,240…Silver has added 7 cents to $17.02…Copper is off a penny at $2.27…Crude Oil has eased off 46 cents to $43.27 after a big jump last week while the U.S. Dollar Index has retreated one-third of a point to 94.71…
Precious metals, led by Gold, enjoyed the 2nd-largest quarterly inflows on record at $15.7 billion, according to Barclays…this was exceeded only by $16.5 billion in the 2nd quarter of 2009 when the global financial crisis spurred substantial buying of Gold…
Speculators continue to bet on rising Gold prices…data on Friday showed that hedge funds and money managers raised their bullish positions in COMEX Gold contracts to the highest in 3-and-a-half years last week…
“The direction taken by the Gold price in the short-term is likely to depend on the Fed,” Commerzbank said in a note today. “If it raises the prospect of another rate hike in the near future at its meeting on Wednesday, this is initially likely to weigh on the Gold price.”
Gold has no fear…the Fed, the Bank of Japan and the Reserve Bank of New Zealand are all scheduled to meet this week, leaving markets waiting to see if the central banks will announce monetary policy or forward guidance changes…the main attention is likely to be fixed on the Bank of Japan meeting on Thursday after last week’s reports that the central bank might extend its negative rate policy further by adopting a policy of a negative rates on loans…
Watch Out, ISIS, Here We Come!
This is akin to bringing a knife to a gun fight…President Obama announced this morning that he will send as many as 250 additional military personnel to Syria, bumping up the U.S. presence there in an effort to help local forces and extend recent gains against Islamic State…the 50 U.S. Special Operations forces already on the ground in Syria have made progress in the battle against Islamic State extremists, Obama insisted, and additional personnel will help “keep up this momentum”…the new deployment will be implemented in phases, not surprising since that’s a lot of boots on the ground for this President who still insists that “climate change” is the world’s most ominous threat…it seems his rhetoric has influenced other nations, too, as where are they in the fight on the ground against ISIS?…
In today’s Morning Musings…
1. Key test for the Venture this week…
2. Lithium plays update…
3. Nevsun Minerals (NSU, T) makes move for Reservior Minerals (RMC, TSX-V)…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to take advantage of our Spring Sizzler Subscription Special in effect for a limited time only…
SAVE 25% with a risk-free subscription as you gain full access to this and other exclusive BMR content and features, including our new Top Opportunities List May 1!…
GGI…the silence is deafening
Comment by DavidW — April 25, 2016 @ 8:48 am
EQT and DBV as well David
Comment by Jamie — April 25, 2016 @ 11:11 am
Jon you said you will have more from GGI this week. Is just a chart you will be providing? I say that because there’s not much more we can say about GGI until they get off their ass and give investors something to chew on.
Comment by Dan1 — April 25, 2016 @ 1:57 pm
We have a lot coming up, Dan1, on the Iskut River Gold Camp as the week progresses, and that’s what I was referencing with regard to various companies including GGI. Grizzly and Mexico updates would be welcome, with Grizzly obviously imminent as we find out if the Ultra 1 Zone metallurgy is encouraging or not. I don’t think Kaketsa would let us down on that. Still, the attractiveness of the Iskut River camp at the moment gives GGI an unusual opportunity along with others.
Comment by Jon - BMR — April 25, 2016 @ 2:17 pm
Well, we may have to wait for GGI to drill their King property before it comes alive again. I don’t have much faith of Rambo delivering as there’s not much interest from investors. Usually during a drilling campaign there is some sort of leak when the drill hits something.
Comment by Dan1 — April 25, 2016 @ 2:29 pm
Hi Guys,
Wondering what your thoughts are regarding today’s NR from Skeena resources and whether you still consider Skeena worth accumulating as a BC Golden Triangle play. There do appear to be better options (CXO for ex.)!
John
Comment by John — April 25, 2016 @ 6:10 pm
I’m glad I didn’t think that way when PTU was at 7 cents recently before their high-grade intercept, Dan1. With any stock, you always need to be a step or two ahead of Mr. Market and see beyond what he can see at any given moment.
Comment by Jon - BMR — April 25, 2016 @ 6:14 pm
Hi John, I think Skeena is worth accumulating but only within the range we gave. You’ll notice we have NOT added SKE to our Top Opportunities List (at least not yet), so keep that in mind. I need to see more from them. But at current prices, looking out to what should evolve over the summer, I would say it’s attractive. Let’s see what they can do with the Snip mine acquisition. CXO is a better option than Skeena, obviously, on a choice between the two, and I think some others are as well in relation to SKE.
Comment by Jon - BMR — April 25, 2016 @ 6:18 pm
Northern Miner Interview concerning Golden Triangle and
my pick for 1016 = CXO
northernminer.com/subscribe-login/?id=1003772549
Comment by RustyChambers — April 25, 2016 @ 7:05 pm
You have more faith than me Jon in GGI.
Comment by Dan1 — April 26, 2016 @ 6:25 am
I guess I do, Dan1.
Comment by Jon - BMR — April 26, 2016 @ 6:37 am