BUY
by
aimman
on
05 Jan 2014 20:20
Price at rating: 1.05, now:
JV DONE RERATING, Touchstone Gold and Cordoba Mineral Corp. JV.r Amid gloomy predictions for gold’s prospects in 2014, the metal was heading for its best week since October astradingr r r r resumed again after the Christmas break.r Spot gold was up US$6 at US$1,230, with other precious metals also edging higher. Silver was up a few cents at US$20.06 while platinum gained US$5 to US$1,404.r r It was good response to tough 2013 said a tradersr r r r , with signs of physical interest returning in China ahead of the New Year there.r Gold shed 28% of its value in 2013, ending a 12-year bull run and posting a first annual loss since 2000 and its worst performancer r r r for three decades.r Chartists said it would need the price to rise to above US$1,270 to break decisively the gloomy pattern of the last three months of 2013, but the mixed start to 2014 for both equity markets and the US dollar had also given the metal a boost said traders. r r The dollar has marked time against a basket of currencies since trading resumed in earnest in 2014. Gold is seen as a hedge to movements in the US currency and tends to move in the opposite direction.r r Alastair McCaig, an analyst at spread bet firm IG Index said: “A key battle will unfold in the coming days.r r "On one side we have the negative sentiment for the commodity, and on the other is the fact that a number of the larger gold miners have already stated that a prolonged presence below the $1200 level would seriously threaten the viability of a number of operations. As such, this could trigger a series of mine closures.â€r r Major mover, Was Touchstone Gold As it emerged late of friday afternoon that it has struck for its World Class Segovia Gold Project (the “Projectâ€) located in the Segovia Gold belt in Northern Colombia, South America, had been getting the attention Of Cordoba Mineral Corp., We await the outcome of these rumours with great interest.r r [link]
Score: 3.75