Mining news – Sunday roundup
The story of the week is of course the soaring price of gold, now trading around $1,735 as investors look for stability in a volatile stock, bond, and interest rate marketplace.
Trump is helping gold by looking for negative US interest rates, though I’m not sure they will actually happen.
Other news includes the total recovery from the covid virus of the Tinka Resources employee that caught it, and news that Radisson and Cartier are resuming exploration, with social distancing being a cornerstone safety feature.
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Mining news – Sunday roundup
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The story of the week is of course the soaring price of gold, now trading around $1,735 as investors look for stability in a volatile stock, bond, and interest rate marketplace.
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President Trump is helping gold by looking for negative US interest rates, though I’m not sure they will actually happen. If they do, the old adage about gold not bearing interest goes out of the window as zero interest is better than a negative interest rate! And you have the stability that gold offers that fiat currencies do not.
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Other news includes the total recovery from the covid virus of the Tinka Resources employee that caught it, and news that Radisson and Cartier are resuming exploration, with social distancing being a cornerstone safety feature. It’s good to see the mining world adapting quickly so that they can resume trying to create value.
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Gold Road have been confirmed as the 6th largest riser in the ASX 200 during the last year, an exceptional achievement against some stiff competition. The full list can be viewed by clicking HERE
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Silver had a strong week, and was due a run as it had lagged gold so far during the current bull phase. Obviously, the few pure silver miners there are should well, Hoschild and Fresnillo, both large caps, are the only two listed in London so keep an eye on the silver miners. In Canada Alexco, and First Majestic Silver spring to mind.
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Turning to the clean energy space, Tesla are working on a “1 million mile battery”, and are thought to be about to announce a commercial product. The battery uses little to no cobalt, and if proven to be successful, will clearly dampen some of the anticipated demand for that metal moving forwards.
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