February 25th, 2014
by Steve Todoruk, Daily Reckoning
After three years of brutality in gold and gold equities, are we near the bottom? Could we see them start to head higher?
In my 35 years in the mining industry, I have experienced many bear market cycles where metal prices and mining company share prices have been down and out... Each of those painful down cycles was followed by rising metal prices, which is usually a precursor to a bull market in the equities.
So where are we today and what should we expect next?
February 17th, 2014
by Diane Alter, Money Morning
Gold set a new closing high record for 2014 on Wednesday last week when it added $5.30 to hit $1,295.20 an ounce. As this is written Monday 17 February 2014 at 0340 GMT, Reuters reports gold trading above $1325 in Singapore.
Pushing gold past a 3-month high was testimony from new Federal Reserve Chair Janet Yellen. Yellen made it clear she isn't about to make any abrupt changes to the central bank's pledge of a measured tapering of bond purchases. Additionally, Yellen said interest rates will remain near zero for a good while.
But what will continue to stoke gold in 2014 is unprecedented demand from China...
February 13th, 2014
by Byron King, Daily Reckoning
Two weeks ago Goldcorp (GG) announced a $2.6 billion hostile offer to take over Quebec-based Osisko Mining. Goldcorp, as you may know, is a large precious metal company with numerous mines. Osisko is a one-mine play, based on its Canadian Malartic mine in Quebec, built from the ground up (and down) since about 2005.
What's a good, productive, working gold mine worth? Is the market valuing these kind of things "right"?
Econintersect: Following are some of the stories we have found over the past week about gold and precious metals markets.
by Vronsky, DailyReckoning.com
The Hebrew word for Silver is the same word that is used interchangeably for Money in the Torah and Old Holy Bible Testament: Silver metal = Kesef (כסף), which also means Money.
Moreover, in all Hispanic countries the word for money is the same word for silver: PLATA.
Since 1000 B.C. to today, the word SILVER is synonymous with MONEY in most countries in the world. Further testament was Stock Market genius of the 1920s, who was right on the money when he said:
“SILVER and GOLD have worked down from Alexander’s time…When something holds good for two thousand years, I do not believe it can be so because of prejudice or mistaken theory.”
(Bernard Baruch, a 1929 and aftermath winner)