Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. After some impressive weeks where it outperformed both US markets and precious metals, the Index endured a strong pullback of 45.1 points or 5% to 840.14 last week.MACD plunged 8.9 points to -7.3. RSI slid 10.39 points or 19% to 45.4.Support is at 820 (lower Bollinger) and 809. Resistance...Read More
By: Ira EpsteinGold above the monthly Bollinger band, it only stays above this band only 5% of the time. The weekly gold chart, this is the best gold price close we have had in years! Up $42 1/2 for the week..Read More
Strengths? The best performing precious metal was silver, up 7.30 percent. Gold had a strong week and held above $1,700 an ounce. Bullion rose the most in a week on Wednesday after Fed Chairman Jerome Powell said that the U.S. economy is facing unprecedented downside risks that could do lasting damage. Powell pushed legislators to take more action to support the economy. The poss...Read More
Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More
JAKARTA - As Indonesia ramps up its mining sector to feed the world's hunger for zero-emission vehicles, it is faced with a problem: what to do with all the waste. Now, companies building the nation's first factories to produce the elements that power electric vehicles are seeking permission to dump billions of tons of potentially [...]Read full newsRead More
Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or the "Company") is pleased to report mine construction activities at its PureGold Red Lake Mine in Ontario are on schedule for first gold pour before the end of the year.Work to date has proven we have a clear and precise understanding of theRead full newsRead More
The number of confirmed cases globally has grown to more than 4.7 million and there have been almost 315,000 deaths, according to Johns Hopkins University.US president Donald Trump criticised China yesterday for its "tiny" contribution to bodies including the World Health Organisation.The spot gold price shot above US$1,750 an ounce earlier and was worth almost $1,746/oz at the time of writing.Mea...Read More
(Image courtesy of Rio Tinto.) The mining industry is deeply impactedby the covid-19 pandemic, and the situation continues to evolve as the virusspreads throughout the globe. In its latest report on the coronavirus impact on the iron ore market, Fitch Solutions has revised down most of its 2020 mining and metals production and consumption forecasts and warns it will keep adjusting estimates in t...Read More
Sagebrush at the South zone, Red Hill property. Credit: NuLegacy Gold. NuLegacy Gold (TSXV: NUG) has arranged a non-brokered private placement of up to 75 million units at a price of C$0.075 per unit to raise gross proceeds of C$5.62 million.Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant exercisable for one common s...Read More
Image courtesy of Silvercorp MetalsSilvercorp Metals (TSX: SVM) and Guyana Goldfields (TSX: GUY) have agreed to amend the terms of their merger arrangement, which would see Silvercorp making a significantly higher offer than the previously announced C$105 million deal.The parties came to a new agreement following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party t...Read More
Image from BHP. BHP Petroleum has formed an alliance with Ense??a por Mexico (EPM) and the Ministry of Education of the state government of Tamaulipas (SET), aimed at improving education for the children in Tamaulipas by providing high-quality training to local teachers.In addition to providing quality education, the alliance aims to share innovative practices and academic strategies, as well as...Read More
Eric Sprott is renowned for his investments in the Canadian gold junior market. File Image. Discovery Metals (TSXV: DSV) on Monday arranged a non-brokered private placement to raise up to C$25 million through the issuance of up to 45.5 million units at a price of C$0.55 per unit. Each unit comprises one common share of Discovery Metals and one half of one common share purchase warrant, with each...Read More
The pricing is at 1.5c per new share.Read More
Gold prices jumped to a seven-year high this morning following bleak economic data last week and grim second-quarter U.S. GDP forecasts.At last look, gold was sitting at $1,755 an ounce, but rising concerns over global inflation have positioned the yellow metal for a breakout that could take prices screaming higher.Bank of America is already expecting $3,000 gold. Others are predicting prices to t...Read More
In April, Longview Power filed for bankruptcy. The company's main asset is its 700 megawatt (MW) coal-fired power plant in West Virginia, which produces enough electricity to continuously power more than 500,000 homes.The company said the decision was taken "as a result of substantially lessened demand for electricity due to long term power-pricing pressure caused by cheap natural gas, an unseason...Read More
The S&P/TSX Venture Composite Index rose 3.32% to 508.99 and gold continued to make gains, rising US$39.30 per oz., or 2.26%, to close at US$1,742.20 per ounce.Abitibi Royalties saw its share price jump $1.01 to $22.00 with news of an updated resource estimate for their New Alger royalty. The company has a 1% net smelter return (NSR) royalty at the property, which is owned by Renforth Resources. T...Read More
As decisions about reopening businesses continued to vary from state to state in the U.S., the Dow Jones Industrial Average fell 2.73% to 23,685.42, while the S&P 500 dropped 2.31% to 2863.70. Meanwhile, gold maintained its lustre amid the COVID-19 pandemic as it continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%.Franco-Nevada continued to gain market v...Read More
After starting the May 11-15 trading week with some gains, the S&P/TSX Composite Index closed down 2.24% to 14,638.90. Spot gold continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%, and the S&P/TSX Global Gold Index advanced 4.86% to 370.32. The S&P/TSX Global Base Metals Index fell 3.57% to 75.88, while the S&P/TSX Global Mining Index increased 2.84% to...Read More
Last week I told you that M&A for visibility and liquidity's sake was a precursor to what I see as the next great discovery cycle. One born out of necessity.Gold has now surged to record highs in most currencies and has been rising beautifully alongside the dollar. A bull market I can trust.Whether it's rising tensions with China, dwindling reserves that need to be replaced now or later at much hi...Read More
Sabina Gold & Silver Corp. - Corporate Video TSX: SBB, OTC: SGSVF Developing the 7.18Moz Back River Gold Project in ...Read More