May 5, 2013Gold was down (at press time) $0.70 (-) for the week to $1,468.30, and silver was down $0.19 (-0.8%) to $24.05. According to Reuters, “Gold should draw support from recent stimulus measures taken by central banks across the world to spur the economy. The ECB cut its main interest rate by 25 basis points to a record low of 0.5% on Thursday…. The decision came a day after the US Fed’s recommitment to its aggressive stimulus program and a month after the Bank of Japan stunned markets by promising to inject about $1.4 trillion into its economy to spur growth.” read more… Kevin Michael Grace
April 30, 2013Temex Resources Corp V.TME announced April 29 an updated 43-101 resource estimate of its Juby Gold Project located in Ontario’s Timmins-Kirkland Lake mining camp. At a cutoff of 0.4 grams per tonne gold, it contains 25.3 million tonnes grading 1.28 g/t gold for 1.04 million gold ounces indicated and 74.2 million tonnes grading 0.91 g/t for 2.17 million gold ounces inferred. read more… Kevin Michael Grace
April 29, 2013Gold was up (at press time) $67.50 (+4.8%) for the week to $1,469, and silver was up $1.07 (+4.6%) to $24.24. According to Reuters, “Gold rose more than 1% on Monday and held near its highest in more than a week, as a rebound in prices from multiyear lows failed to damp investor appetite for the precious metal, causing a shortage in physical supply.” read more… Kevin Michael Grace
April 24, 2013Sunridge Gold Corp V.SGC announced April 10 that the feasibility study of its Asmara Project in Eritrea is on schedule for completion in early May. The study is being conducted on four of the five deposits that comprise Asmara and will outline a mining plan that integrates the four deposits being processed at a central concentrator near the large Emba Derho copper-zinc-gold-silver deposit. read more… Kevin Michael Grace
April 19, 2013Gold was up (at press time) $35.40 (+2.6%) for the week to $1,401.50, and silver was unchanged at $23.17. According to Reuters, “Gold has been caught in a tug-of-war between physical buyers seeking bargains and wary investors cutting exposure to the precious metal on nagging worries about central bank sales and prospects of easing inflation.” read more… Kevin Michael Grace
April 18, 2013Institutional gold analyst and consultant John Brimelow spoke to Kevin Michael Grace April 17.
RW: Using Occam’s razor as our tool, can we state with certainty that the gold crashes on Friday and Monday were not an accident?
JB: Absolutely. You don’t have to use a philosophical concept; you just have to look at the data. To say nothing of the time of the selling, as has been well discussed by Ross Norman. Huge volume packed into a few minutes. read more…Kevin Michael Grace
April 16, 2013Rainy River Resources Ltd T.RR announced April 10 a feasibility study of its 100%-owned Rainy River Gold Project (RRGP), which comprises 16,530 hectares located 65 kilometres northwest of Fort Frances, Ontario.
At cutoff grades of 0.3 grams per tonne gold equivalent openpit and 3.5 g/t AuEq underground, RRGP contains proven and probable reserves of 116.3 million tonnes grading 1.08 g/t gold and 2.76 g/t silver for 4.03 million ounces gold and 10.3 million ounces silver. read more…Kevin Michael Grace
April 15, 2013
Peter Grandich | It feels like October 20, 1987
Thomas Pascoe | The Crash is further evidence of market rigging
Karl Denninger | Decoupling of paper and physical gold is the beginning of the end
James Howard Kunstler | Smack Down Time
ZeroHedge | Opinion Round-upKevin Michael Grace
Gold was down (at press time) $135.30 (-9%) for the week to $1,366.10, and silver was down $3.16 (-12%) to $23.17. Reuters reported, “Gold dropped…to below $1,400 per ounce for the first time since March 2011 as the market’s downward momentum gained speed after more than four months of investor selling.” read more…Kevin Michael Grace
April 10, 2013
Probe reports Ontario Gold Assays up to 11.9 g/t over 24.8m