Gold Prices Pull Back

Source: The Street, Chao Deng (7/14/11)

"Investors took some profits following debt-buoyed highs."

The Street, Chao Deng

Gold and silver prices were seeing slight pullbacks as investors took some profits after U.S. and European debt issues pushed prices to record highs on Thursday.

Gold for August delivery was losing $2 to $1,587 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,590.30 and as low as $1,576, while the spot gold price climbed by $9.20, according to Kitco's gold index.

Silver prices were slipping 9 cents to $38.78 an ounce. The U.S. dollar index was up 0.11% to $75.31 and the euro was down 0.14% vs. the dollar.

The precious metals have been shining safe haven assets this week as debt woes in Europe and the U.S. increased uncertainty in the markets. Gold futures posted a record $1594.90 per ounce high on Thursday.

Moody's announcement that it may revise its U.S. credit rating underscores the dire situation in Washington, but many analysts continue to believe that chances of a U.S. default are slim, easing Wall Street's concerns around any serious financial repercussions. Strong corporate earnings from companies like JPMorgan Chase and Google has also buoyed market sentiment this week.

Gold Explorer Highlights 2020 Achievements and Outlook
Source: Streetwise Reports (01/29/2021)

Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.

Cabral Gold's channel samples at the JM target provide "further evidence that numerous high-grade veins occur within the Cuiú Cuiú district."

Explorer Completes Phase 2 Metallurgical Work for Palladium-Copper Project
Source: Streetwise Reports (01/28/2021)

Generation Mining intends to wrap up the feasibility study on Marathon this quarter.

Silver Firm Reports Q4/20 Processing, Production Numbers from Mexico Project
Source: Streetwise Reports (01/28/2021)

MAG Silver's joint venture project Juanicipio produced 230,000 ounces of silver during the quarter ended Dec. 31, 2020.

Explorer Reports High-Grade Gold-Silver Intercepts at BC Golden Triangle Property
Source: Streetwise Reports (01/27/2021)

Scottie Resources Corp. advises that the target remains open in most directions.

Golden Arrow Resources Out Exploring Again After COVID-19; Hits High-Grade Gold at Tierra Dorada in Paraguay
Source: The Critical Investor for Streetwise Reports (01/27/2021)

The Critical Investor explains why he believes "investors have an interesting opportunity to invest in a pretty derisked, undervalued and experienced explorer with three chances for success."

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Shenanigans Abound: Gold, Silver and Cryptocurrency
Source: Michael Ballanger for Streetwise Reports (01/26/2021)

Sector expert Michael Ballanger explores the generational trends currently shaping investment markets, including the precious metals.

MMT Survey Helps Explorer Identify New Large Target at Ecuador Property
Source: Streetwise Reports (01/26/2021)

Aurania Resources reported that data from an ongoing Mobile MT Survey identified an extensive target at Tsenken at its Lost Cities - Cutucu Project in southeastern Ecuador.