• Miner Exceeds Estimates for Gold Produced in Q3/17

    Miner Exceeds Estimates for Gold Produced in Q3/17

    Source: Streetwise Reports 10/19/2017 BMO Capital Markets reported the preliminary Q3/17 production results for this senior gold producer. According to an Oct. 16 research note, Yamana Gold Inc. (YRI:TSX; AUY:NYSE; YAU:LSE) produced 257 Koz gold in Q3/17 from six of its seven mines (excluding Brio). The quantity achieved surpassed BMO Capital Markets' expected 240 Koz "based on better-than-expected production from Chapada, Malartic and El Peñón, offset by lower production at Minera Florida," indicated analyst Andrew Kaip. As for other metals, Yamana produced 37.1 Mlb copper, which beat BMO's anticipated 33.9 Mlb, Kaip added. It generated 1.43 Moz silver, which was in line with BMO's estimate. About the Canadian miner's Q3 performance, Kaip concluded that "incorporating the stronger-than-expected production results is expected to have a positive impact to earnings." Yamana's gold production for the first three quarters of 2017 is 717 Koz, Kaip noted. This represents about 76% of its 940 Koz gold production guidance for this year. Although the company increased its guidance for gold once already in 2017, it is "currently evaluating whether or not to increase production guidance for gold, silver and copper based on year-to-date production and an expected strong Q4/17," he wrote. Kaip also noted that as of Sept. 30, Yamana had "approximately $125 million in cash." This metals producer will report complete Q3/17 operational and financial results on Oct. 26 followed by a conference call on Oct. 27. BMO Capital has a Market Perform rating and $3.25 per share price target for Yamana, whose shares are trading at around $2.64 per share. Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page. Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise ...read more
  • Columbus Gold Is Giving Free Shares Away

    Columbus Gold Is Giving Free Shares Away

    Source: Bob Moriarty for Streetwise Reports 10/18/2017 Bob Moriarty of 321 Gold discusses Columbus Gold's imminent spinout of its Nevada properties.I have followed Columbus Gold Corp. (CGT:TSX; CBGDF:OTCQX) since I first wrote about them in 2014. Their main gold project is in French Guiana and is part of a JV with a Russian company. It's a great project with 2.75 million ounces of proven and probable reserves of gold. Columbus Gold owns 45% and Nordgold owns 55%. At $1200 gold the project has an after tax IRR of 23% and an NPV of $324 million US. Owning 45% should make CGT's interest worth $145 million US or about $185 million CAD. Instead Columbus has a market cap of right at $100 million CAD. And they own 14 projects in Nevada including one with a 721,000 gold equivalent ounce resource. Management realized they are not getting any value out of the Nevada projects so they are spinning them off into a new company named Allegiant. That's where the free shares come into the deal. Columbus is holding a special meeting the 20th of November for shareholders to vote on the spinout. Shareholders as of the Share Distribution Record Date will receive 1/5th of a share of Allegiant for every Columbus share held. The company anticipates the record date to be four business days after the meeting or the 24th of November. So if you own 10,000 shares of Columbus on the Record Date, you will be handed 2,000 shares of Allegiant. That's a hell of a deal for a couple of reasons. Andy Wallace is going to be the CEO of Allegiant. As a manager and now owner of Cordex, he helped the company find an incredible eight gold mine discoveries in Nevada including the five million ounce Marigold Mine, the twelve million ounce Lone Tree Mine and the Daisy Mine. Allegiant plans on drilling ten projects of the fourteen in the first twelve months. Their two most important projects are Eastside with an existing 721,000 gold equivalent ounce resource and a historic gold resource of 270,000 ounces and the Bolo project northeast of Tonopah. Columbus recently drilled 14 RC holes at Bolo about 500 meters south of a historic hole returning 30.5 meters of 3.24 g/t gold, 12.2 meters of 3.05 g/t gold and 19.8 meters of 1.1 g/t gold. The company is not going to release the results of the drilling until after the spinout is complete. They anticipate assays being back about mid-December. Columbus is in the process of setting up a non-brokered private placement with terms not yet disclosed. The shares will be free trading right out of the chute. The spinout is brilliant for creating more value to both Columbus and existing shareholders. Columbus will get 13% of the new shares, existing shareholders will get 52% and new investors will receive about 35% of Allegiant. Allegiant will be well funded for a ...read more
  • Trio of Firm's Mines Log Strong Performance in Q3/17

    Trio of Firm's Mines Log Strong Performance in Q3/17

    Source: Streetwise Reports 10/16/2017 Analyst Andrew Kaip compared this silver, gold and base metals miner's reported Q3/17 production results to the numbers expected by his firm, BMO Capital Markets. In an Oct. 12, 2017 research report Kaip indicated that overall Q3/17 production was "strong" from three of Hecla Mining Co.'s (HL:NYSE) four mines: Greens Creek, Casa Berardi and San Sebastian. This diversified company's Q3 production of silver, lead and zinc exceeded BMO's expectations, whereas that of gold reached the anticipated level, added Kaip. Actual versus estimated production was 3.3 versus 2.9 Moz for silver; 5.4 versus 5.1 Kt for lead; 14.5 versus 13.2 Kt for zinc; and 64 versus 63 Koz for gold. The research note also detailed Q3/17 production for each of Hecla's producing mines: Greens Creek in Alaska performed the best during the quarter, thanks to its silver production. When compared to Q2/17, it was up, from 1.9 to 2.3 Moz, while gold production of 12.6 Koz was flat. Kaip noted that "production benefited from the mill operating at 2,391 tons per day, which is a life-of-mine record." Casa Berardi in Quebec produced 44.1 Koz gold, "slightly higher" than the 42.2 Koz estimate, wrote Kaip. He highlighted that "mining from the East Mine Crown Pillar pit continues to help supplement underground ore and fill the mill, which operated at 3.5 Ktpd in the quarter and set a monthly record in September at 3.9 Ktpd." San Sebastian in Mexico met expectations, Kaip indicated, "producing 881 Koz of silver and 6.3 Koz of gold." Lucky Friday in Idaho turned out "a nominal 88 Koz of silver," said Kaip, which was anticipated due to supervisory staff members making on-site capital improvements. "We currently assume the resumption of operations in Q1/18. . .the strike at Lucky Friday is still ongoing," he added. As for Hecla's Q3/17 cash and cash equivalents, they "increased by $3 million ($3M) from Q2/17 to $205M," Kaip reported. The company will announce full Q3/17 financials on Nov. 7. BMO Capital has a Market Perform rating and a $6 per share price target on Hecla Mining, whose stock is now trading at around $5.22 per share. Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page. Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click
  • Gold and the Dollar: Good News and Bad News

    Gold and the Dollar: Good News and Bad News

    Source: Clive Maund for Streetwise Reports 10/15/2017 Technical analyst Clive Maund discusses what he sees as a "swan-song rally."We've all had people come up to us and say "Do you want the good news first or the bad news?" I always opt for the bad news first, to get it out of way and end on a lighter note. The bad news is that the dollar looks set to stage a significant "swan-song" rally in coming weeks, which will probably result in gold being beaten down again. The good news is that once that's done its toast—and that's when the big gold and silver bull market that longer-term charts are calling for will really get underway. The last update called for the dollar to drop down to mark out the Right Shoulder of a Head-and-Shoulders bottom pattern, and for gold to break out of its rather steep intermediate downtrend and rally, and that is exactly what has since happened. On its latest 8-month chart, we can see how the dollar has backed off to the vicinity of its flattened out 50-day moving average and the vicinity of the Left Shoulder low of the base pattern, in order to mark out the Right Shoulder low. Three bullish developments to be noted that result from the dollar rising out of the Head of the pattern are the breakout from the downtrend, the break clear above the 50-day moving average, and the big improvement in momentum (MACD), which is swinging positive. If our interpretation that this is a genuine Head-and-Shoulders bottom is proven valid, the pattern targets the 97 area in coming weeks, probably by early November. Needless to say, this will not be good news for gold and silver prices. Our prediction made many weeks ago that the dollar would rally off the lower boundary of its big bullhorn pattern shown on the 4-year chart below to break out above its restraining Dome has proven to be correct, and a projection has been drawn on this chart showing roughly what is expected to happen. As we saw above on the 8-month chart, the base pattern now approaching completion targets the 97 area approx. This is the "swan-song rally"—the dollars last rally before it "hands in its dinner pail," and should present a wonderful last opportunity to accumulate the better gold and silver stocks, before the dollar does an about face, and breaks down from the large Broadening Top pattern into a severe decline. The Hedgers chart has been warning for weeks that the dollar will reverse and rally, as has been pointed out repeatedly. The latest chart shows the rally is still ahead of us—which is congruent with the dollar being at the Right Shoulder low of its Head-and-Shoulders bottom. Click on chart to pop up a larger clearer version. Chart courtesy of www.sentimentrader.com In light of the above it is logical to expect gold's plucky little ...read more
  • Silver May Pop and Drop in Setup for Upswing

    Silver May Pop and Drop in Setup for Upswing

    Source: Clive Maund for Streetwise Reports 10/15/2017 Technical analyst Clive Maund charts the reasons silver bugs may have an opportunity for happier days ahead. Like gold, silver gapped out of its downtrend last week, but volume was lacking on this move, which, given the now bullish outlook for the dollar, may turn out to be a "pop" that will be followed by renewed decline. This breakout was predicted in the last update, when it was pointed out that silver’s COTs were still far from outright bullish. You are referred to the parallel Gold Market update to read the reasons why the dollar may be shaping up for a sizable rally back to the 97 area on the index, before turning and heading south again. Needless to say, this can be expected to knock gold and silver back down again. On its latest 6-month chart we can see how silver gapped higher last week, after breaking out of its recent downtrend a few days before. As mentioned above, due to the immediate outlook for the dollar being positive, with a sizable "swan song" rally in prospect, this breakout by silver may well turn out to be a "pop" to be followed by renewed decline. How far might it drop? A logical target, given that gold would probably drop to the $1,200-$1215 area, would be somewhere in the vicinity of its July lows, i.e. somewhere in the $15 area. While silver's latest COTs look rather better than those for gold, they are still a long way from being outright bullish—there is plenty of room for improvement, and thus plenty of room for silver to drop short-term. . . Like gold, silver is marking out a giant head-and-shoulders bottom pattern, but in silver's case it is downsloping, as we can see on its 8-year chart below. This reflects the fact that silver tends to underperform gold at the end of sector bear markets and during the early stages of sector bull markets. Prolonged underperformance by silver is therefore a sign of a bottom. This chart really does show how unloved silver is right now, but although the price has drifted slightly lower over the past several years, volume indicators have improved, especially this year—a positive sign. A break above the neckline of the pattern—the black line—will be a positive development, and more so a break above the band of resistance approaching the 2016 highs. Once it gets above this it will have to contend with a quite strong zone of resistance roughly between $26 and $28. Silver is among the most unloved of all metals, a situation that is not expected to continue, partly because silver bugs are manic-depressive and they have been depressive for a long time, meaning that it surely won't be all that long until they are on the rooftops singing Happy Days Are Here Again, although it now looks like they will ...read more
  • Comfortably Numb: Surviving the Assault on Silver

    Comfortably Numb: Surviving the Assault on Silver

    Source: Michael Ballanger for Streetwise Reports 10/15/2017 Precious metals expert Michael Ballanger discusses the current state of the precious metals markets.In the late 1960s and most of the 1970s, an English rock band named Pink Floyd dominated the world of progressive and psychedelic music with such memorable albums as "Dark Side of the Moon," "Wish You Were Here," and "The Wall." One of their greatest hits was a song entitled "Comfortably Numb" and as I was listening to it the other night, the refrain in the middle of the song—"Gotta keep it going through the show; c'mon it's time to go"—reminded me of the current state of the precious metals markets in the sense that the bullion bank criminals really are doing their utmost to "keep it (the price caps and interventions) going through the show". That silver investors have been rendered "comfortably numb" by way of serial price assaults is a testimonial to the sentiment out there for silver equities, coins, and the like. In case you hadn't noticed, sentiment for gold and particularly silver is outright putrid. Who Remembers THIS? Surely, the competition for alternative investments such as Bitcoin, Eleutherum and other block-chain deals is fierce and with stocks hitting all-time highs literally every few days and with volatility at record lows, not many people have retained sufficient focus to concentrate on silver based upon the pure economics of demand and supply. Mind you, analysis of the supply-demand equilibrium for financial or non-financial assets is a useless exercise because the SUPPLY for items HATED by the central banks such as gold and silver is fabricated by way of swaps and loans and illusory WGC figures while DEMAND for items LOVED by central banks such as stocks and bonds is also fabricated by way of journal entries from sovereign treasury accounts or accelerated credit creation. Compounding this felony lies the moral hazard present in the elevated stock markets that have been largely buoyed by central bank largess as opposed to macroeconomic expansion on a global basis. Taking away the proverbial "punch bowl" now could be analogous to tightening credit in 1931, generally regarded as the major accelerant to the economic conflagration of the 1930s. At the least, traders are now unequivocally convinced that the Fed "has our backs," a direct and total contrast to the dark days of 2008, when they were convinced that the Fed had erred in its role as an omnipotent watchdog over the banks. All it took was shuffling a few trillion in the direction of Washington and the "fix", as they say, "was in." Everyone in the markets these days is "behaviorally trained" insofar as it pertains to the expectation of "outcomes." This is especially true of the precious metals where fifty years of central bank interference was capsulized with a ten-year moonshot to $1900 gold and (once again) $50 silver back in ...read more
  • Future Upside Provides Excellent Entry Point for Fiore Gold

    Future Upside Provides Excellent Entry Point for Fiore Gold

    Source: The Critical Investor for Streetwise Reports 10/13/2017 The Critical Investor provides an update on Fiore Gold, which has just resumed trading after completing a business combination with GRP Minerals. Pan Mine, Nevada After a lengthy trading halt since June 12, Fiore Exploration Ltd. (F:TSX.V; FIORF:OTCQB) started trading on October 2, having completed the business combination with GRP Minerals. This took quite a bit of time, as it was a fairly complex venture for both companies, with a lot of paperwork. I view this deal as an accretive one, as a lot of tangible value through much more advanced assets was added, up to an estimated Net Asset Value of about C$120 million in my view, and a lot of realistic growth potential. Apparently, not everybody had the same long-term view for Fiore Gold as is needed in this case, the company now morphing into a long-term growth production story instead of an exploration story, and a sell-off started immediately after opening of the markets: Share price; 10 day time frame My suspicion is that there were some shareholders from both sides of the deal selling their shares, as the initial story changed significantly for both companies, possibly appealing to different kinds of investors, although the volume wasn't really massive on the first day comparing to the last few days as the share price bottomed at C$0.70. As the share price closed at C$0.76 yesterday on healthy volume, it seems that the worst is behind us now. As I have calculated in an earlier article, I don't think this selling is very much justified. According to my estimates, the Net Asset Value (NAV) comes in at around C$120 million, as there are: the current exploration assets, of which I estimate El Peñon at C$1M and Cerro Tostado at C$4M about C$25M in cash, zero debt the Pan Mine with a C$65M NPV and ramping up production the Gold Rock historical deposit and the exploration potential of both Pan and Gold Rock combined at C$20M Golden Eagle at C$5M, bringing the total NAV at C$120M. The current market cap comes in at C$69.2M, so as the usual market cap to NAV ratio comes in at a very global 1.0-1.5, this would already indicate undervaluation. The valuation of a producer is usually much better represented by the market cap to operational cash flow ratio (which varies from about 8 to 12 in good jurisdictions at current gold prices/sentiment), so when looking at this metric we get confirmation for more upside when the Pan Mine is fully ramped up to commercial production next year. The annual pro forma cash flow for Fiore Gold is calculated like this for a $1215/oz Au base case scenario: 40,000oz Au in 2018 x $1215- $685 = EBITDA US$21.2M - US$4.5M estimated depreciation etc - US$2.7M G&A = US$14M net income. Corporate taxes are about US$2M annually on average per the Feasibility Study. ...read more
  • An Aggressive Gold Exploration Play

    An Aggressive Gold Exploration Play

    Source: Daniel Ameduri for Streetwise Reports 10/12/2017 Exploration on a massive project in Nevada holds the potential for "glory," says Daniel Ameduri of Future Money Trends. U.S. Gold Corp. (USAU:NASDAQ) is drilling a massive gold project. With Gold Standard Ventures Corp.'s (GSV:TSX.V; GSV:NYSE) Dave Mathewson at the helm for exploration, this is a must-have for any gold portfolio looking for some potential luster with elephant-sized discovery potential. Here are the key takeaways from its recent press release: 1. A new drilling program at Gold Bar North, located on the Cortez Trend, has begun. 2. Dave Mathewson, the former go-to exploration geologist for Newmont and Gold Standard, has identified multiple Carlin-type deposit target areas. 3. Follow-up drilling will be conducted on positive results obtained from earlier this year. Mr. Mathewson, U.S. Gold Corp.'s (USAU) Vice President and Head of Exploration, stated that "It's the best exploration project I have seen in my career. Reminds me of the Railroad project (Gold Standard Ventures discovery) on steroids." We've witnessed this before—I mean, this is almost the exact same set-up as Gold Standard Ventures, where Dave Mathewson's team led to the consolidation of the Railroad-Pinion district and the discoveries of North Bullion, Sylvania, and Bald Mountain deposits. Luke Norman is the co-founder of Gold Standard Ventures and U.S. Gold Corp. (USAU), as well as a master when it comes to advancing early-stage companies quickly. Gold Standard Ventures increased from a $15 million market cap to a billion dollars largely based upon Mathewson-led discoveries and Luke Norman driving the business development. The Keystone property position controls the entire district-scale opportunity and is comprised of approximately 15 square miles of mining claims. In addition to Dave Mathewson, we will also have Tom Chapin on the technical advisory team for exploration. Tom was the senior geologist at the Cortez Gold Mine for Barrick Gold, the largest gold company on the planet. We are going to be focused on the Keystone project because that's where the glory will be if Mathewson scores big for us on U.S. Gold Corp. This is the right team, and it's in the area of major gold deposits. It's also a speculative exploration stock, so that means high-risk, high-reward. I want you to enjoy getting rich when we are right and avoid being poor if we are wrong. Always take into consideration that I have no idea what your financial position is or your risk tolerance. Daniel Ameduri is the editor of the Wealth Research Group and the cofounder of Future Money Trends Letter, FMT Advisory and Crush The Street. After warning family and friends in 2007 about the coming market and mortgage collapse, Ameduri started his own YouTube channel, VisionVictory, which has received 10 million video views. On March 18, 2008, Ameduri called for Dow 8,000, the collapse of Lehman Brothers, AIG, and Washington Mutual. During the mortgage crisis, he helped people buy Put Options ...read more
  • Noted Geologist Peter Megaw Believes This Property Hosts the Source of Arizona Mining's Taylor Deposit

    Noted Geologist Peter Megaw Believes This Property Hosts the Source of Arizona Mining's Taylor Deposit

    Source: Streetwise Reports 10/11/2017 A project in Arizona about to undergo systematic exploration offers the potential of polymetallic resources including zinc.Barksdale Capital Corp. (BRO:TSX.V), a Vancouver-based exploration company, begins trading on the TSX Venture Exchange today under the symbol BRO. The company's listing is transferring from the NEX exchange. Barksdale holds an option on the Sunnyside project in Arizona. The project is home to a porphyry copper system that offers multiple exploration targets, with the company initially focusing on a zinc skarn that it believes to be an extension of the Taylor deposit. "Think of the Sunnyside porphyry as the engine that drove the system." Sunnyside is adjacent to Arizona Mining's Taylor deposit, an advanced-stage zinc-lead-silver project. The preliminary economic assessment released by Arizona Mining in April projected an after-tax IRR of 42%, an initial capex of $457 million, a 1.7-year payback, a 19-year mine life and total operating costs of $48/ton. Subsequent drilling has increased the resource. Arizona Mining, which anticipates production beginning in 2020, currently has a market cap of CA$1.05 billion. Zinc was it the best performing metal on the LME last year, increasing 90%, gains that have continued into 2017. The third quarter saw zinc rise 16%, breaking through $3,000 per tonne, and reaching a 10-year peak. Barksdale inked an option agreement with Regal Resources to earn up to a 67.5% interest in the Sunnyside property. In order to earn a 51% interest, Barksdale will need to pay Regal CA$2.95 million cash and 10.1 million common shares and spend CA$6 million on the property in the first two years of the option. Paying an additional CA$0.55 cash and 4.9 million shares plus spending an additional CA$6 million on the property in an additional two-year period will bump Barksdale's interest up to 67.5%. On Oct. 5, Barksdale announced that it completed a non-brokered private placement of 13.53 million common shares at $0.40 per share for gross proceeds of $5.4 million. It also revealed that it made the initial option payment of $650,000 cash and 1,250,000 common shares to Regal Resources. "The Sunnyside porphyry complex is almost certainly the source of Arizona Mining's Taylor-Hermosa body." Noted geologist Dr. Peter Megaw, the chief exploration officer of MAG Silver Corp. (MAG:TSX; MAG:NYSE.MKT), serves as an adviser to the Barksdale board. He told Streetwise Reports that he believes that the Sunnyside intrusive complex, which lies within Barksdale's property, is the center of a zoned porphyry copper to zinc-lead-silver replacement system and that the company should focus exploration on the rings or spokes of mineralization that surround the porphyry center. These systems show a classic outward transition from dominance by copper to zinc to lead to silver and each ring potentially contains large continuous bodies of high-grade multi-metal mineralization. He believes that the Sunnyside porphyry complex is almost certainly the source of Arizona Mining's Taylor-Hermosa body, and says that his research indicates that this type of system seldom ...read more
  • Are Gold and the Dollar Rallying Together?

    Are Gold and the Dollar Rallying Together?

    Source: Clive Maund for Streetwise Reports 10/08/2017 Technical analyst Clive Maund examines the relationship between the dollar and precious metals.The last gold Market update almost a month ago called the intermediate top within a day, as you may recall, and the subsequent Gold and U.S. Dollar called the rally in the dollar the day before it started. Having seen a significant reaction back by gold, the question now is "Has it run its course?" The short answer to that is yes, although calling a bottom here is complicated by the fact that gold's COTs have not eased as much on the reaction as we might have expected, and the dollar Hedgers' chart is still flat out bullish for the dollar. What this means is that we may need to see some bottoming action by gold, even if it soon breaks out of its rather steep short-term downtrend, and another possibility that we will examine is that the dollar and gold rally in tandem, a rare circumstance that could be occasioned by an extreme development such as an attack on North Korea, although if this happens the peoples of Seoul and Tokyo will doubtless have more important things to think about than the price of gold. On gold's latest 6-month chart we can see how the reaction of recent weeks has retraced about 50% of the prior rally, as tensions with North Korea have temporarily eased. This reaction has more than fully corrected the overbought condition resulting from the rally, and has brought gold back into a zone of significant support just above its rising 200-day moving average, and with moving averages in bullish alignment, conditions generally favor a reversal and rally. The "spinning top" candlestick that occurred on Friday on increased volume may mark the turn, although the candlesticks that occurred on the charts for silver and silver proxies look like more convincing reversals. An important factor having a bearing on the outlook for the precious metals was the nice reversal in copper on Thursday after a significant reaction, with it gaining nearly 3%... Given that copper tends to lead other metals as it did on the last rally, this could well be followed by gold and silver reversing to the upside after their reaction back to support, despite the dollar looking like it has further to rally. Another positive factor for gold and silver is that there was a full moon late last week and the Precious Metals often reverse on either the new or full moon, although astrologically silver is ruled by the moon and gold by the sun, which may explain why the Incas, famous for their gold, worshiped the sun – which makes a lot more sense than many of the other things that get worshiped. If you think that is wacky, try this for size—eclipses are thought by many astrologers to be a baleful omen, ...read more