Summary

Fury Gold Mines is one of the newest gold juniors in the sector after both Auryn Resources and Eastmain combined in Q3.

The new company has a global gold resource of 3.58 million ounces at very high-grades, and has 80,000 meters of drilling planned on its properties.

While Fury looks cheap based on its resources, it’s worth noting that this resource is split across 3 projects that the market hasn’t assigned much value for in the past.Therefore, while I think there’s long-term upside if the company can execute, I think there are much better ways to play the sector.It’s been a tough few months for the Gold Juniors Index ( GDXJ ) as many names have slid more than 40% from their highs, like Spanish Mountain Gold ( OTCPK:SPAZF ) and Freegold Ventures ( OTCPK:FGOVF ), and few names have been able to buck the trend. Fury Gold Mines ( FURY […]

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A major expansion of Ravenswood gold mine in north Queensland is set to produce its first ore in three weeks’ time, after several years of planning.

The historic mine was acquired from Resolute Mining in March by EMR Capital, which has since driven the project in coordination with State Government agencies.

The Buck Reef West pit will extend the life of the Ravenswood mine by 14 years, after nearby Mount Wright underground mine which produced 1.5 million tonnes of ore annually closed in 2019.

Ravenswood Gold CEO Brett Fletcher said the works will include a new open pit mine, $200 million to increase ore processing capabilities and a new tailings dam."Buck Reef West is a historic mining area, we’ll be moving back into it to start mining through open pit technique in December," he said. "We’re looking to produce initially around 5 million tonnes per year, we’ll be taking that up to […]

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Gold prices moved higher, as the dollar lost ground, despite rising US yields. Better than expected data from China and Japan helped buoy yields. Riskier assets also gained traction following news that Moderna, a pharmaceutical company, reported that its coronavirus vaccine, had 94.5% efficacy in preventing COVID-19.

Trade gold with FXTM Technical analysis

Gold prices edged higher pushing up against resistance is seen near the 10-day moving average at 1,898. The weekly chart of gold is forming a bull flag continuation pattern which is a pause that refreshes higher. Support is seen near the October lows at 1,850. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. The fast stochastic has rebounded from oversold levels below 20 up to 31, which reflects accelerating positive momentum. Medium-term momentum is neutral and poised to turn positive as the MACD (moving average convergence divergence) index looks like it […]

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Nov 17 (Reuters) – Gold prices were little changed on Tuesday, as concerns over spiking U.S. coronavirus cases offset pressure from vaccine optimism brought about by a positive vaccine trial data. FUNDAMENTALS * Spot gold was unchanged at $1,887.99 per ounce by 0050 GMT, while U.S. gold futures were up 0.1% at $1,888.70. * 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. * President-elect Joe Biden on Monday called on Congress to come together and pass a new coronavirus relief package. * Forty U.S. states have reported record increases in COVID-19 cases in November, while 20 have seen a record rise in deaths and 26 reported record hospitalizations, according to a Reuters tally of public health data. * Successful tests of two coronavirus vaccine candidates have increased the […]

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Summary

Gold and the precious metals sector are still in a relatively mild correction.

Gold support zone between around US$1,850 will probably not withstand another test.

The weekly chart is getting oversold and a trend-reversal is already foreseeable.We suggest a few more weeks of patience and expect the bottom and turnaround until mid of December.The precious metals sector has been in a pullback for the last three months. Even though, neither spot gold prices ( XAUUSD:CUR ) nor the SPDR Gold Trust ETF ( GLD ) and the Sprott Physical Gold Trust ( PHYS ) have marked new lows in the last eight weeks, the trend-less sideways consolidation has certainly created a lot of stress, pain and question-marks especially among the many new and unexperienced investors in the sector. After all, gold should have exploded thanks to money printing and the uncertain US election. However, if you follow me and Midas Touch […]

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The gold futures contract gained 0.69% on Friday, as it extended its short-term consolidation following last week’s Monday’s 5% sell-off. Gold sold off after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The yellow metal has retraced all of its previous advance. It came back down to $1,850 price level , as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.9% higher this morning, as it is retracing Friday’s advance. The markets are reacting to another Coronaviurs vaccine news release. What about the other precious metals? Silver gained 1.93% on Friday and today it is 1.4% lower. Platinum gained 1.36% and today it is 0.1% lower. Palladium lost 0.52% on Friday and today it’s 1.1% higher. So precious metals are generally lower this morning .

Friday’s Producer Price Index release has been slightly higher than expected at +0.3%. And […]

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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) – The gold market is again seeing some selling pressure following more positive news on another potential vaccine for the COVID-19 virus. However, the damage in the precious metals market has been limited compared to last week’s massive selloff.

Monday morning, Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19 based on interim data from a late-stage clinical trial.

Moderna’s news follows on the heels of Pfizer’s and BioNTech’s surprise announcement last week that its vaccine was more than 90% effective in preventing COVID-19.

Although gold prices are under pressure following Moderna’s news, many analysts have said that this doesn’t change the marketplace’s current landscape."Positive news on the vaccine front but still in the early days. There […]

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( Kitco News ) – First of all, the Northern Zone Project is located around 25 kilometres east of the major gold mining centre of Kalgoorlie. In addition to this, the Jundee East project is located about nine kilometres east of Northern Star’s Jundee gold mine, one of Australia’s largest gold mines.

Oracle is said to have paid around £90,000 in cash as well as the issue of just under 43mln shares, with warrants at 1.1p attached.

The companies chief executive Naheed Memon stated "To secure a deal on these assets in Western Australia is a very significant and exciting new development for Oracle,”. He added “The Northern Zone project is essentially drill-ready and the Jundee East Project has […]

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The recent uptick in coronavirus cases is alarming. Hospitalizations are surging in the Midwest, and regional lockdowns are becoming likely. Gold is trading lower on vaccine developments, and prices may not bottom until December. THE SECOND WAVE OF COVID

Coronavirus cases are on the rise, and I do not see this trend slowing. New daily cases in the US reached 187,907 on Friday – a surge of 80% in just two weeks. The Midwest is being hit particularly hard.

https://www.worldometers.info/coronavirus/country/us/

Some argue that the surge in daily cases is because of more testing. True, but what concerns me is hospitalizations. The graph below shows that COVID-19 hospitalizations rose to 69,455 and broke out above the initial April and July peaks. https://covidtracking.com/data/charts/us-currently-hospitalized The regional hospitalization map shows a spike in the Midwest (recently 23,849) and more than double the May 6th peak of 11,483. It is important to note that […]

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SAN ANTONIO, TX – MAY 20: LaMarcus Aldridge #12 of the San Antonio Spurs handles the ball against … [+] Ever since Kawhi Leonard’s trade request out of the Alamo City, the San Antonio Spurs have endured an unusual period. A roster of youth and inexperience started to overwhelm the older veterans, championship aspirations were gone and, in 2020, the team missed the playoffs for the first time since 1996-97. So, this is no longer the Spurs of the previous generation, and to prove the times are changing, the Silver and Black are now part of the chaotic NBA off-season rumor mill—as willing sellers of stars.

On a recent episode of ESPN’s Zach Lowe’s podcast, The Lowe Post , he reported that buzz exists around LaMarcus Aldridge, the Spurs’ No. 11 overall pick and the Golden State Warriors’ No. 2 overall selection in the 2020 NBA Draft. Kevin O’Connor of […]

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( Kitco News ) – Panther Metals (PALM:LSE) are all set to acquire the Merolia gold project near Laverton, Western Australia, from White Cliff Minerals Ltd for cash and shares. Panther will pay A$112,500 in cash on the successful completion of a due diligence period and then an additional 734,470 shares. Lastly, A$1.25 per ounce of gold will be made to White Cliff Minerals in the event that a JORC Resource is defined. It has been said shallow drilling intercepts on the prospects include eight metres at 6.7 grams per tonne gold five metres 27.8 grams.

Darren Hazelwood, Panther’s chief executive said "The project represents a post-discovery opportunity and our plans will now focus on building a resource […]

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Gold has barely recovered last week’s sharp downfall that drove the price towards September’s low of 1,848, lingering slightly below its 20- and 50-day simple moving averages (SMAs) and the Ichimoku cloud. The momentum indicators are currently painting a neutral-to-bearish picture for the short term as the RSI continues to lack direction and is marginally below its 50 neutral mark, while the MACD is also in a sideways move around its red signal line and within the negative area.

A sustained ascent above the 1,900 level and the 50-day SMA is probably what the bulls are seeking to stretch towards the upper surface of the cloud and the 1,970 resistance zone. Should they advance higher, the spotlight will initially shift to the 2,015 barrier and then to the record peak of 2,079.

Alternatively, a clear close beneath the 1,848 base would put the precious metal back in a downward path, justifying […]

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Vancouver, British Columbia–(Newsfile Corp. – November 16, 2020) – Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the "Company" or "Contact Gold") is pleased to report the results from the first 3 drill holes of the ongoing 2020 drill program at the Green Springs gold property ("Green Springs"). To date, 4,941 metres have been completed in 7 core holes and 27 RC drill holes. Results are pending for an additional 31 holes as of the date of this release. A further 2,400 metres of drilling are currently planned for the remainder of 2020 at Green Springs.

Echo Zone Drill Highlights: 2.18 g/t oxide Au over 28.9m in hole GS20-02, 91% Cyanide recovery Including 3.7 g/t Au over 15.2m

GS20-02 extends gold mineralization intercepted in GS19-09 eastward by 20m

0.44 g/t oxide Au over 28.9m in hole GS20-03, 90% Cyanide recovery GS20-03 extends the footprint of oxide gold mineralization […]

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Figure 1

The Golden Sky Project Geology Map The Golden Sky Project Geology Map

TORONTO, Nov. 16, 2020 (GLOBE NEWSWIRE) — A ngus Gold Inc . (TSX-V: GUS | OTC: ANGVF ) (“ Angus ” or the “ Company ”) is pleased to announce that it has entered into an asset purchase agreement (the “ Agreement ”) with Argo Gold Inc. (“ Argo ”), pursuant to which Angus will acquire the Macassa Creek, Mishi Lake and Abbie Lake Properties (the “ Properties ”) from Argo. The Properties are immediately adjacent to the Company’s Golden Sky project in Wawa, Ontario and have seen limited exploration work. Historical results, however, show considerable potential for all three properties to host significant high-grade gold mineralization.

The Macassa Creek and Mishi Lake properties are located along the Mishibishu Deformation Zone and tie on to the western and eastern boundaries of Wesdome Gold Mines Ltd’s (“ […]

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Figure 1

Location of gold in soil anomalies from recent results with respect to visible gold in the quartz vein. Location of gold in soil anomalies from recent results with respect to visible gold in the quartz vein.

Highlights Four samples located 100 to 300m along strike of visible gold samples assayed greater than 1,000 ppb Au

Highest gold value was 9,946ppb 19 samples assayed greater than 100ppb Au Gold in soil anomaly extends over 500m and remains open to the southwest TORONTO, Nov. 16, 2020 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further results of the recently completed soil sampling survey at its 77km 2 Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold Belt. Soil sampling has now been completed with 7,740 soil […]

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Below is the current Top 10 list in the GSD Newsletter. The lowest upside rating is a 2, which is an expected 300% return at higher gold/silver prices. So, all of the stocks on this list are expected to have high returns.

Some of them have higher risks than others, but overall, they tend to have very solid risk-reward profiles. The majority of companies are in good locations, although there is significant production in Mexico and one stock in West Africa, also some exposure in South America.

Not all of them have pristine balance sheets, which is reflected in their high-risk rating. So, if gold/silver prices drop significantly, these stocks could fall rapidly in valuation.

What makes this list strong is the quality of their properties/projects, along with valuations that are leveraged for higher gold/silver prices. All of these stocks should do well in a rising precious metals bull market. I will […]

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(Bloomberg) — Endeavour Mining Corp., the acquisitive gold producer backed by Egyptian billionaire Naguib Sawiris, agreed to buy Teranga Gold Corp. in the latest deal to reshape the sector.

After Barrick Gold Corp. and Newmont Corp. two years ago created behemoths that dwarf the rest of the industry, other gold miners are trying to consolidate to remain relevant to shareholders. Helped by record gold prices, that’s led to a flurry of deals across the sector as smaller producers beef up their scale.

Endeavour said last week it was discussing a “merger of equals style” deal with Teranga after the talks were first reported by Bloomberg. Endeavour is offering 5.1% premium to Teranga’s closing price on Friday, valuing its equity at C$2.44 billion ($1.86 billion), according to Bloomberg calculations.

The combined company will produce about 1.5 million ounces of gold a year across West Africa, making it one of the 10 largest producers. […]

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Cross section 07 (looking northeast) showing higher gold grade intercepts of LM50 VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) — Silvercorp Metals Inc. ("Silvercorp" or the “Company”) (TSX/NYSE American: SVM) is pleased to report the discovery of new gold zones and high grade intercepts from its 2020 exploration program at the LMW mine, Ying Mining District, Henan Province, China. Extensive exploration drilling and tunnelling are ongoing at the LMW mine, and all other mines at the Ying Mining District.

The 2020 exploration program from July 1, 2019 to October 30, 2020 at the LMW mine has used in-fill drilling to target areas of known sub-vertical silver-lead-zinc veins that were previously believed to be uneconomic. Since June 2020, drilling has also targeted the gently-dipping zones believed to host gold mineralization, as reported in the May 28, 2020 news release. These gold zones were previously undiscovered and appear to have been […]

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General Location Map of Samples Collected from this Batch of 17 Rock Samples The Trapper Gold Zone with 2020 Gold-in-Rock Geochemical Results Detailed Insert Map of Recent High-Grade Gold Sample Location (blue rectangle) Rock outcrop sample Y642280 returned 47 g/t Au, 127 g/t Ag, 0.19% Cu, 8.2% Pb+Zn, pyrite-pyrrhotite-arsenopyrite and other pictures of the sampled area (Trapper Gold Zone) Rock sample Y642124 returned 5.2% Cu, 1.1 g/t Au, 30.9 g/t Ag (new area of interest) Gold Geochemical Anomalies Map at the Thorn Project Copper Geochemical Anomalies Map at the Thorn Project VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) — Brixton Metals Corporation (“ Brixton ” or the " Company ") (TSXV: BBB) (OTCQB: BBBXF) is pleased to announce high-grade gold, silver and copper content in 17 in place outcrop rock samples collected at and west of the recently acquired Trapper Target on its vast 2,594 square kilometer Thorn […]

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A man handles gold bars and coins.

Akos Stiller | Bloomberg | Getty Images

Gold prices inched up on Monday helped by a softer dollar and mounting coronavirus cases in the United States that escalated concerns of the pandemic’s impact on the pace of economic recovery.

Spot gold was up 0.1% to $1,888.91 per ounce by 0042 GMT.U.S. gold futures were up 0.1% at $1,888.30.The dollar index was down 0.1%, while Asia’s stock markets opened higher on vaccine optimism.U.S. President-elect Joe Biden ’s top advisers called for urgent action to address the nation’s “deeply alarming” Covid-19 crisis on Sunday, while the number of infection cases in the United States crossed the 11-million mark.U.S. consumer sentiment fell unexpectedly in early November as households worried about their finances, the resurgent pandemic and the depleted fiscal stimulus, dimming the economy’s outlook.President Donald Trump on Sunday briefly acknowledged losing the U.S. election in a morning […]

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Longer-term gold traders are aware that any extreme weakness will be met with aggressive buying with the Federal Reserve watching their backs. A rise in U.S. Treasury yields and a slight recovery from an earlier setback by the U.S. Dollar are weighing on gold prices on Monday after an early rally attempt failed. Increased demand for riskier stocks and currencies is also helping to generate some downside pressure.

At 12:46 GMT, December Comex gold futures are trading $1872.80, down $13.40 or -0.71%.

Unlike last Monday, gold is responding to demand for stocks, which appears to be encouraging traders to sell Government bonds, driving yields higher. The move suggests that today is going to be a “risk-on” session with the U.S. Dollar on the outside looking in. Should the dollar participate in the demand for risk, however, then look for gold to break sharply throughout the session.

Earlier in the session, gold was […]

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Woman looks at a gold necklace at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, amidst the spread of Covid-19 in Kolkata. Credit: Reuters Photo By Swansy Afonso

Gold jewellery stores in India this year were less busy on the most auspicious day to buy the precious metal as higher prices and the impact of the coronavirus on incomes and fears of the pandemic kept consumers away.

India’s gold shopping peak typically comes ahead of Diwali, or the Festival of Lights that’s celebrated on Saturday by the country’s more than 900 million Hindus. Referred to as Dhanteras, the day is considered a blessed time to buy gold, cars and major appliances or to start new ventures, and the festival is associated with wealth and prosperity.

Many stores remain open until midnight the day before Diwali, when jewellers offer huge discounts and freebies and some […]

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Summary

Barrick reported its third-quarter 2020 results on November 5, 2020. It recorded total sales of $3,540 million, up 32.2% year over year.

The company’s total gold production in 3Q’20 was 1,155 K Au Oz.

The investment thesis that I recommend is to keep a long-term position and never entirely sell out. Looking for a helping hand in the market? Members of The Gold And Oil Corner get exclusive ideas and guidance to navigate any climate. Get started today » Source: Business advantage PNG Image: Porgera Mine Investment Thesis The Toronto-based Barrick Gold ( GOLD ) released its third quarter of 2020 results on November 5, 2020. It was another outstanding quarter overall that beat analysts’ expectations, with record revenues of $3.540 billion and a whopping free cash flow of $1,311 million. The company decided to increase the dividend by 12.5% or a yield of 1.39%, which is relatively small.One encouraging is […]

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