Gold has now made a bullish reversal on a weekly basis, as price rallied sharply on Thursday and Friday. Support held, which means gold could be on the verge of setting a double/triple bottom around $1,550.
Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!
McEwen Mining (TSX and NYSE:MUX) President and CEO Rob McEwen on Thursday cautioned shareholders that recent energy-industry expropriation and Argentina government policy decrees augured negatively for its San José silver/gold mine and other development projects.
Silver has been called the most volatile of metals. But volatility produces opportunity, according to Chris Thompson, a top-ranked StarMine analyst with Haywood Securities.
"As equities fall, as the Greeks take money out of the banks and the banking sector collapses, I suppose you'd have to be wary of further price falls just to cover for losses in other markets."
For thousands of years, silver has been used at the table, on the battlefield and even in healthcare. Today, the uses of silver for its healing and preventative properties are growing and analysts wonder what this renewed demand for the graphite metal will mean for the silver market.
Pan American Silver Corp. (TSX: PAAS, NASDAQ: PAA.T) first-quarter profit fell 46% as the costs of acquiring a Mexican gold and silver operation covered a revenue increase.