$EXSFF...GOLD UP?? Quoting from The Wall Street Jo
Post# of 154
Posted On: 10/24/2016 10:34:38 AM
$EXSFF...GOLD UP?? Quoting from The Wall Street Journal, “Gold prices shuffled between gains and losses Friday, as investors weighed the pressures of a stronger dollar against an expected surge of demand from India. Meanwhile, seasonal demand for the metal is picking up in India as festival season kicks off, Commerzbank AG said. “Dhanteras and Diwali will be celebrated at the end of the month—two of the most important Hindu festivals and a time when gold is traditionally given as a gift,” the bank noted. India and China are the largest physical buyers of the metal.”
Quoting Rueters, “India's overseas purchases of gold likely hit a nine-month high in October, as a flip in domestic prices to a premium prompted banks and refiners to resume imports ahead of the festival season, industry officials told Reuters. India is the world's No.2 gold consumer after China. ‘Some (Indian) refiners and banks have resumed imports in the last few weeks as discounts came down and the market started trading in a premium,’ said James Jose, secretary of the Mumbai-based Association of Gold Refineries and Mints. Jose expects India's October gold imports to reach 60-70 tonnes, the highest since January and more than double an estimated 30 tonnes in September.
The point is that if you look at the GOLD chart over the past few years, its rallied during the October-November period in a significant way, and that should have some positive impact on EXS/EXSFF. Time will tell. CD will be having more discussion with Teck officials today, and I’m hopeful the announcement will be out shortly. Drilling at the company’s New Brunswick copper property is moving along quickly, and smoothly. Apparently, four holes have been drilled to an average depth of 200meters. That core has been split, logged and sent to Rouyn for analysis. Work will continue to a total of 2,000meters drilled, with work commencing on a fifth hole today. The crew seems to be very encouraged with what they’ve pulled out of the ground so far. Nothing more than I mentioned last Thursday in regards to Kidd, or the Newsletter writers to report at this time, other than some progress has been made on both of those fronts. McLeman and goldspinner, I really appreciated your postings over the weekend.
Quoting Rueters, “India's overseas purchases of gold likely hit a nine-month high in October, as a flip in domestic prices to a premium prompted banks and refiners to resume imports ahead of the festival season, industry officials told Reuters. India is the world's No.2 gold consumer after China. ‘Some (Indian) refiners and banks have resumed imports in the last few weeks as discounts came down and the market started trading in a premium,’ said James Jose, secretary of the Mumbai-based Association of Gold Refineries and Mints. Jose expects India's October gold imports to reach 60-70 tonnes, the highest since January and more than double an estimated 30 tonnes in September.
The point is that if you look at the GOLD chart over the past few years, its rallied during the October-November period in a significant way, and that should have some positive impact on EXS/EXSFF. Time will tell. CD will be having more discussion with Teck officials today, and I’m hopeful the announcement will be out shortly. Drilling at the company’s New Brunswick copper property is moving along quickly, and smoothly. Apparently, four holes have been drilled to an average depth of 200meters. That core has been split, logged and sent to Rouyn for analysis. Work will continue to a total of 2,000meters drilled, with work commencing on a fifth hole today. The crew seems to be very encouraged with what they’ve pulled out of the ground so far. Nothing more than I mentioned last Thursday in regards to Kidd, or the Newsletter writers to report at this time, other than some progress has been made on both of those fronts. McLeman and goldspinner, I really appreciated your postings over the weekend.
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