Shares in precious metals miners fell further on Monday as gold and silver prices fell back to their lowest in over three months. The gold price was down 6% to $4,215 an ounce, wiping out gains since early December.
Gold (XAU) and silver (XAG) prices remained under pressure last week as a result of strength in US dollar and Treasury yields. These factors lead to less demand for non-yielding assets such as precious metals.
Gold edged lower in early trade on prospects of liquidity-driven sales amid ongoing Middle East conflict.
Investors would have been better off in the tiniest microcap stocks than in the oldest source of safety.
Joe Cavatoni of the World Gold Council talks about why he believes the yellow metal hasn't caught a bid over recent sessions. He notes structural headwinds brought by the U.S.-Iran War and the Fed as key headwinds.
Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:PSGCF, FRA:P9J) CEO Robert Archer talked with Proactive about a new polymetallic discovery at the El Potrero project, marking a significant development beyond the company's traditional gold-silver focus. Archer explained that the company had previously concentrated on the northern portion of the property, historically known for gold and silver production.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
The price of gold rose early Friday, but was still on course for its worst weekly performance since March 2020.