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Not only does Silver Viper Minerals’ La Virginia project feature historical exploration, but recently the drill bit has uncovered discoveries and great potential in new zones. Silver Viper Minerals Corp.’s (VIPR:TSX.V; VIPRF:OTCQB) La Virginia gold-silver project is situated in Sonora, northern Mexico, Mexico’s top gold producing state.

Prior to Silver Viper Minerals’ ownership, the property was drilled by Minefinders and Pan American Silver: 188 drill holes totaling 52,000 meters. One highlight hole intercepted 23.5 meters of 7.63 grams per tonne (g/t) gold and 363 g/t silver.

"What really excited us was not only the historical work, but that the same structures run on surface for tens of kilometers, and most of the project hasn’t been mapped or sampled," Silver Viper President and CEO Steve Cope tells Streetwise Reports.Silver Viper acquired the La Virginia project in 2018. In exchange for a 2% net smelter returns (NSR) royalty, Pan American Silver […]

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LONDON, Nov. 17, 2020 /PRNewswire/ — Trump loves gold. The White House decor is now a shrine to the precious metal, and there’s enough gold adorning Mar-a-Lago to fill the central bank coffers of your average country. Even his private plane boasts gold-plated seatbelt buckles, gold bathroom fixtures, and gold silk wallpaper. Mentioned in today’s commentary includes : Newmont Corporation (NYSE: NEM ), Eldorado Gold Corporation (NYSE: EGO ), Pan American Silver Corp. (NASDAQ: PAAS ), Royal Gold, Inc. (NASDAQ: RGLD ), Wheaton Precious Metals Corp. (NYSE: WPM ).

Gold loves Trump, too. It’s been a banner year for the world’s number one safe-haven asset. Gold has experienced a meteoric rise, hitting a record in August when it was up 40% on the year. An unprecedented pandemic-induced economic meltdown, a weakening dollar , and the cobra effect of massive a government stimulus have sent financial markets into a tailspin.

The fear […]

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Bitcoin is outshining gold by a significant margin in price terms as expectations soar of a swift global economic recovery enabled by promising coronavirus vaccines.

While the top cryptocurrency by market value has risen 22% to cross $17,000 this month, the precious metal is up just 0.5% at the current price of $1,890 per ounce. Bitcoin and gold monthly charts The demand for traditional haven assets such as gold has declined this month as two Big Pharma firms, Pfizer and Moderna , announced positive results for their experimental coronavirus vaccines.

The resulting speculation that the global economy may well return to normality as soon as the second half of 2021 has triggered a rotation of money out of defensive assets and into risk assets, according to an outlook from Ole Hansen, head of commodity strategy at Saxo Bank.

Bitcoin, too, is considered digital gold by many. However, the increased risk appetite in […]

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Goldman Sachs remains upbeat about gold in 2021.

In a report published Friday, the investment bank said that it is maintaining its 2021 gold price target of $US2,300 an ounce as the global economy returns to balance between positive news of potential vaccines for the COVID-19 virus and the still prevalent risks of further economic damage from more waves of the virus.

Gold prices ended Friday on Comex up around 0.7% at $US1,886.20, down 3.2% for the week as the rotation out of megatechs and similar stocks continued.

Gold investors ignored the rise in US bond yields over the week – although they eased to 0.895% on Friday after touching a high of 0.97% earlier in the wake in the wake of the switch in investing triggered by news about the Pfizer COVID-19 vaccine.Although Goldman Sachs economists see a strong economic recovery in the US and worldwide next year, commodity analysts […]

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Xavier Galiana/Agence France-Presse/Getty Images The report comes a week after Pfizer PFE, +2.85% and BioNTech BNTX, +4.30% announced an experimental vaccine against COVID-19 that was at least 90% effective in Phase 3 studies, with the hopes of further progress on therapies and cures for the deadly disease overshadowing a resurgence of the spread of the infection across the globe and momentarily undercutting the appeal for precious metals overall.

December gold GCZ20, -0.01% declined $11.40, or 0.6%, to reach $1,874.80 an ounce, after the yellow metal saw a 3.4% weekly decline, based on the most-active contract, which was the largest since the week ended Sept. 25, FactSet data show.

Silver futures for December delivery SIZ20, -0.68% , meanwhile, shed 37 cents, or 1.5%, to reach around $24.41 an ounce, following its 3.5% weekly loss put in on Friday.

“Safe-haven gold fell as investors again reduced their exposure to the metal, in much a […]

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Endeavour’s Teranga acquisition adds another operating mine – Wahgnion – to the four it has in Burkina Faso, including this one in Hounde [File: Anne Mimault/Reuters] West Africa-focused Endeavour Mining has agreed to buy Teranga Gold in an all-share deal to create a top 10 gold producer which will list in London, the companies said on Monday, a week after they announced they were in talks.

The agreement is a breakthrough for the fragmented gold sector and for Endeavour, whose previous attempt at a major merger failed.

But with investors jittery about pricey takeover deals after a surge in gold prices, Endeavour’s shares fell 2.4 percent to 30.19 Canadian dollars ($23), while Teranga Gold – which climbed after the talks were announced last week – fell 1.1 percent.

“We’re not trying to buy cheap – we’re just trying to make the right deal that satisfies both sets of shareholders and that ensures […]

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Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020.

DAVID GRAY | AFP | Getty Images

Gold prices edged higher on Tuesday as dollar slipped, while investors weighed concerns over spiking coronavirus cases globally against optimism over positive developments around a second possible Covid-19 vaccine.

Spot gold rose 0.1% to $1,890.27 per ounce by 0327 GMT, while U.S. gold futures were up 0.1% at $1,889.70.Bullion dropped as much as 1.3% on Monday after drugmaker Moderna said its experimental vaccine was 94.5% effective in preventing Covid-19 based on interim data from a late-stage trial, becoming the second U.S. drugmaker after Pfizer to report results exceeding expectations.“Traders are striking a balance between the positive vaccine breakthrough and the prospect of lower fiscal stimulus in the quarters to come,” said Margaret Yang, strategist, DailyFX.But monetary environment is still very accommodative and may stay […]

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Summary

Yamana Gold has reached a friendly agreement to buy Monarch Gold.

The price is C$152 million and a 43% premium to Monarch’s share price as on Friday, October 30.

The deal undervalues Monarch’s assets, and I wouldn’t be surprised to see a competing bid emerge, as I explain below. Note: This article was originally published to subscribers on November 2, 2020. Gold M&A activity is heating up as mid-tier gold miner Yamana Gold ( AUY ) has agreed to buy gold developer Monarch Gold ( OTCQX:MRQRF ) for a total consideration of C$200 million, or C$.63 per share, representing a 43% premium to Monarch stock price as of closing on last Friday, October 30.In connection with the takeover, Monarch will spin out other assets into a new company with a cash balance of C$14 million.Following completion of the spin-out, each Monarch share will be exchanged for the following: > C$0.192 in […]

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Once bitten, twice shy is the saying. In gold’s case, it appears that once pricked, it’s twice as strong.

A week ago, gold was on the mat, knocked out by Pfizer’s COVID-19 vaccine news that sapped almost 5% or $100 from the yellow metal—the most in a single day since August.

Fast forward one week later:

Gold took another sucker punch, this time from Moderna’s update on its coronavirus vaccine. But far from the knockout blow, this one landed gold on the ropes. After a moment, it was back on its feet, stung but not out. Gold Daily Question: Has gold gotten past the scare of the COVID-19 jabs—which are as much a safeguard against the virus as they are an antithesis to a rally in the yellow metal?Jeffrey Halley, Sydney-based analyst for New York brokerage OANDA, certainly thinks so, saying in a note issued early Tuesday: “After the trauma of the […]

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Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) Mining companies are taking advantage of higher gold prices this year, especially when it comes to silver and gold projects, according to Metso Outotec.

More new projects are starting to take off in Q4, Metso Outotec’s President of North and Central America Giuseppe Campanelli and VP of metals sales for North and Central America Tim Robinson told Kitco News.

"Our customers, especially on the gold and silver side, are looking to ramp up as fast as they can. They want to take advantage of the fact that gold prices are high. Maybe smaller projects are faster to execute and get into operation. That seems to be a little bit of a trend," Campanelli said.

Throughout the COVID-19 crisis, miners have […]

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Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

( Kitco News ) – Gold futures prices are firmer in midday U.S. trading Monday. After losing modest overnight gains on news that another drug firm had a very good outcome on a Covid-19 vaccine trial, traders stepped in to buy the dip in the yellow metal and push prices back above unchanged. A weaker U.S. dollar index and higher crude oil prices also worked in favor of the precious metals bulls on this day. December gold futures were last up $5.30 at $1,891.50 and December Comex silver was last up $0.055 at $24.83 an ounce.

Moderna early this morning announced strong results in its third stage of a vaccine trial. Moderna’s vaccine is deemed at 94.5% effective […]

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The Niblack Project’s main portal — seen in 2010 — has a ventilation fan for underground drilling crews. (Photo courtesy of Heatherdale Resources) Drilling crews are returning to the Niblack Project, a mineral exploration effort seeking copper, gold, silver and zinc near Prince of Wales Island’s Moira Sound.

The project ramped up in 2009. In the years to follow, the company Heatherdale Resources says it plowed tens of million of dollars into exploration efforts. But investor money dried up and by 2012 full-time exploration had ceased. Work completely stopped by 2016.

Now, after a corporate reshuffling of debt and rising copper and gold prices, the company plans to bring back a two-dozen-strong crew by the end of this month.

Heatherdale’s CEO Rob McLeod says the drilling will likely go no deeper than 1,000 feet.“Most will be shallower than that,” he said. “And then we’ll be able to take the drill underground, and […]

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Gold Stocks remain in a correction, even if the October 29 lows continue to hold into December.

Corrections are a function of price and time, and often in this sector, a correction can continue in terms of time, well after a low in price is made. But I digress.

The most significant and most consistent moves to the upside usually occur after a crash or after a major breakout.

Gold and silver stocks made tremendous moves after the Covid crash and remain in position for tremendous upside moves over the quarters ahead.As you can see, the junior gold stocks (GDXJ and GOEX) are simply correcting and retesting their recent multi-year breakouts.GDX already did so but on a smaller scale. It has less upside potential, while SIL (silver stocks) is consolidating before it attempts a major breakout. In short, when this correction is over, junior gold stocks have a good chance to run […]

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The company said assay results for 125 holes have been received with 72 holes intercepting “many zones of higher-grade silver-lead mineralization” Silvercorp said these gold zones appear to have been over-printed by the sub-vertical silver-lead-zinc veins Silvercorp Metals Inc ( TSE:SVM ) (NYSEAMERICAN:SVM) Monday reported that it has discovered new gold zones from recent drilling at the LMW mine in the Ying Mining District of China’s Henan Province.

Results included a 1.9 metre interval grading 37.1 grams per tonne (g/t) gold and 4 g/t silver, as well as a 6.1 m interval grading 5.2 g/t and 30 g/t silver.

The results are part of the 2020 exploration program at the LMW mine, which was completed on October 30, and used in-fill drilling to target areas of known sub-vertical silver-lead-zinc veins that were previously believed to be uneconomic. Silvercorp said these gold zones were previously undiscovered and appear to have been over-printed […]

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Weekly Technical Trade Levels on USD Majors / Commodities

Vaccine Headlines Buoy Market Sentiment – Gold Price Reversal Holding September Low

News of another Covid-19 vaccine with an efficacy rate of 95% has fueled another market rally with the SPX pressing back towards the monthly / record highs. The move has not manifested as much in FX with the US Dollar Index (DXY) still holding above critical multi-year trend support. Markets are poised with numerous USD Majors trading within well-defined formations at key levels and we’re looking for a reaction early in the week. A massive reversal in gold last week keeps the bulls on notice as price holds just above the September lows into the open. An in-depth look at the technical levels for the US Dollar Index, EUR/USD , GBP/USD , AUD/USD , Gold , BTC /USD, USD/CAD , Crude Oil (WTI), USD/JPY and SPX.

For a complete […]

Click here to view original web page at www.dailyfx.com

Summary

While investors may be tempted to exit gold holdings due to the past 3 months of performance, I believe it’s actually a good time to buy.

Gold momentum is positive and strongly suggestive of future price rallies in the commodity going forward.

The VIX has remained elevated for a few months straight – a condition often associated with future rallies in gold.Over the past year, it’s been a fairly turbulent ride for gold traders with the price of the commodity witnessing sizable volatility. In my opinion, it is a very strong time to buy gold. I believe that several key fundamentals are giving strong buy recommendations at this point and in this piece, I present a few strategies for managing gold positions. Put simply, the odds are in the favor of the gold bulls. Gold Markets One of the most interesting relationships I’ve discovered as I’ve examined the gold markets is […]

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Strengths The best performing precious metal for the week was platinum, off just 0.23 percent on positive price forecast. Spot gold rose as much as 1.5% on Tuesday, recouping some of its losses from Monday after positive news of a coronavirus vaccine was released. The yellow metal also rose on Thursday and appears to have steadied after the dollar fell on news that COVID-19 cases are surging in the U.S.

Russia’s finance ministry is proposing allowing its sovereign wellbeing fund to invest in precious metals, according to a draft amendment of the law published on the government’s website. Russian giant Polyus said the prefeasibility for Sukhoi Log, the world’s largest untapped gold deposit, shows annual production of 2.3 million ounces at a cash cost of $390 per ounce, reports Kitco News.

In more Russian news, the country’s most expensive ever diamond – a 14.83-carat pink gem – […]

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GOLD PRICES dropped from near a one-week high Monday lunch time in London as interest rate jumped after last week’s vacccine news was followed by better-still results from separate Covid-drug trials, writes Atsuko Whitehouse at BullionVault.

US biotech Moderna (Nasdaq: MRNA) today said its Covid-19 vaccine has shown 94.5% efficacy in clinical trials, beating the 90% effectiveness claims last Monday by giant US pharma Pfizer (NYSE: PFE) and without needing the super-cold storage now spurring a race to buy medical freezer units.

Dropping to $1865 after testing $1900 per ounce, gold prices then rebounded, reaching last week’s closing level of $1889.

Ten-year US Treasury yields meantime rose 2 basis points to 0.92%, but held below the 8-month high of 0.97% reached on the Pfizer news last week."A vaccine with a greater than 90% rate is another form of stimulus that you have to weigh in," reckons Bob Michele, chief investment officer […]

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Nov 14, 2020

Nov 13, 2020

Nov 13, 2020 George Gero, managing director of RBC Wealth Management, discusses the factors and agents behind last week’s gold sell-off, and the type of volatility traders and investors can expect going forward. Latest Videos

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Nov 14, 2020

Nov 13, 2020

Nov 13, 2020 Peter Hug, global trading director of Kitco Metals, remains constructive on gold and silver long-term, and should the economy improve next year, silver could trade in the $40 range.
“On my macro perspective that gold is going to do extremely well in 2021, I think silver at $24 will look cheap when you look back at it. Is it possible that we’ll see silver drop to $20, $22, in that range on a pullback? Absolutely, in that context I would buy silver, on the caveat … (read more)
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended […]

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Summary

Prices are rising in many sectors.

Real inflation is far higher than government figures indicate.

Soybeans are at a five-year high, above $1162. Grains are rising in price rapidly, as are many other commodities. Fundamentals The gold market has been filled with uncertainty for the past seven years. Large institutions have been selling naked paper shorts to depress the price of gold. Now commercials, which are primarily central banks, have committed about $39 billion on the short side of the gold market. The number of contracts that they had short was far beyond any annual production of gold or silver. On September 1, the high was about $2001. Gold then entered into an area that the VC PMI recognized as a high probability of supply coming into the market or sellers. Every time the price of gold rises, it gets clobbered by massive amounts of short selling, which has nothing to […]

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