Oil Falls a Second Day on Stronger Dollar

Source: Bloomberg, Rachel Graham (10/12/10)

"Saudi Arabia signaled that OPEC may leave production targets unchanged."

Crude dropped for a second day after Saudi Arabia signaled that OPEC may leave production targets unchanged at its Oct. 14 meeting and the group lowered its forecast for demand for its oil.

Saudi Arabia's Oil Minister Ali al-Naimi said the market is "very well-balanced" and prices between $70 and $80 a barrel are "ideal." Sanford C. Bernstein & Co. cut its forecasts for 2011 and 2012 oil prices because of high stockpiles.

"Oil has moved beyond OPEC's ideal price range," said Sintje Diek, an oil analyst at HSH Nordbank in Hamburg.

Crude for November delivery was down $0.35, or 0.4%, at $81.86 a barrel on the New York Mercantile Exchange at 1:32 p.m. London time after falling as low as $80.88. The contract reached a five-month high of $84.43 last week. Brent crude for November settlement on the London-based ICE Futures Europe exchange traded down $0.31, or 0.4%, at $83.41 a barrel after falling as low as $82.48.

Oil pared earlier losses as the dollar gave up some of its gains against the euro, buoying demand for commodities. The U.S. currency was at $1.3827 against the euro, after gaining to $1.3775 earlier.

The "weakening of the dollar from short-term highs has brought with it some buyers of oil," said Alexander Ridgers, head of commodities at London-based CMC Markets, which handles more than $150 million a day in U.S. crude contracts.

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"

Latin America: Six Gold Juniors Amass 100M+ Ounces
Source: Marc Davis, BNW News (05/25/2010)

Latin America, the world's last great mineral frontier for prolific gold discoveries, is proving a godsend for some lucky investors.

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."

I haven’t spoken to my old mining stock friend, noted and universally respected gold stock guru, Bob Bishop, about Rare Element in a year, but I hear he is still a supporter and very large shareholder. I don’t believe he will hold it against me to remind you that this was one of his favorite holdings when he left the newsletter writing business. . .

It's Only the Beginning for Uranium
Source: www.financialinsights.com (06/03/2005)

Dr. Richard S. Appel, author of Financial Insights, first became bullish on uranium in mid-2003, when it appeared obvious that its supply versus demand equation was fated to seriously drive higher its price. Since then, a series of events in the uranium industry has led Appel to believe that uranium prices will reach never before seen levels.

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