A rally in the stock market and the positive vaccine news set off a price slump in Gold and Silver markets. Both metals struggled to recover after a poor start on Monday. The weak US dollar barely provided enough support to keep the metals afloat. Gold suffered the biggest dip hitting a five-month low as
Monthly Archives: November 2020
Australian Gold and Copper IPO [ASX:AGC] : Divestment to attract investment
A $10m divestment by Magmatic Resources (ASX: MAG) of three gold projects located on the best exploration address in NSW, the Lachlan Fold Belt, is quickly gaining a lot of investor attention. The Lachlan Fold Belt is a 700km-long structure running from central NSW to eastern Victoria and all three projects have geological similarities to
Week In Review: Gold & Silver markets struggle amid growing news of Covid-19 vaccine [16th to 20th Nov 2020]
The precious metals grappled with staying afloat this week. Gold struggled to hit $1,900 but couldn’t go beyond its price on Monday. Silver had a similar development throughout the week as it saw investors giving it the cold shoulder. Analysts believe the price dip was a result of the upcoming rollout of Covid-19 vaccines. Although
Week In Review: Gold & Silver AUD markets continue benefiting from a weaker US dollar [9th to 13th Nov 2020]
Silver started the week well before dipping briefly in response to the positive coronavirus vaccine news. Although silver posted a couple of slums, its price stayed above the $24 level all week. Gold started off poorly but managed to recover as the week came to an end. The metal couldn’t, however, get past the $1900
Perth Mint November 2020 Release: AUSTRALIAN LUNAR SERIES III: 2021 Year of the OX
The Perth Mint has released another immaculate set of coins to commemorate the upcoming year of the Ox next year. The auspicious year brings with it an ancient myth of how the Ox become the second zodiac animal. As the myth goes the Jade Emperor decreed that the order of the animals that represent the
Week In Review: Gold and silver markets benefit from a lower US dollar [2nd to 6th Nov 2020]
The precious metals posted massive gains at the end of the week despite some back and forth movement early in the week. The falling US dollar was the most notable driving force for the price rallying amid ongoing political turmoil in the US. Gold’s price trend seemingly suggests a new multi-month advance. Industry experts believe
Week In Review: Gold, silver prices plunge [26th to 30th Oct 2020]
The prices of the precious metals fell this week and despite a late upside momentum as the week came to an end, they couldn’t recover. Gold dipped below its key $1,900 level as silver struggled to stay above the $24 level. Market analysts attributed the slump mainly to the expiration of futures contracts. The price
