Gold-MiningStocks.com (GMS) and MiningSectorStocks.com (MSS) investor and industry portals for the gold and mining sector, provide a sector overview entitled, “Where the New Money Is: A Snapshot on Gold and Silver Futures”, taking a look at the gold and silver commodities market over the upcoming months. The current gold bull market faces current global supply and demand issues and the prospect for silver to become an Exchange Traded Fund, will likely affect prices ahead. Perspectives are provided by gold companies Kinross Gold Corporation and Canarc Resource Corp, while Silver companies Endeavour Silver Corp and Pan American Silver Corp. offer insights on expectations for growth within their arena.
According to Tracey Thom, Director of Investor Relations and Corporate Communications at Kinross Gold Corporation (NYSE: KGC; TSX: K) commented that, “with the weakening US dollar, it seems like gold prices are further strengthened and maintained at this level.”
As Brad Cooke, Chairman and Chief Executive Officer of Canarc Resource Corp. (TSX: CCM;OTCBB: CRCUF) explains, “when the metals move, institutional investors invest first in the major producers, but once that market becomes saturated, then they look to junior exploration companies.” Canarc, whose major shareholders include Barrick Gold Corp. (NYSE:ABX, TSX), has seen its share price start to rise in recent months as a result of such investor interest.
Brenda Radies, Vice President of Corporate Relations for Pan American Silver Corp. (TSX:PAA; NASDAQ:PAAS) stated that, “silver and gold tend to trade in tandem, but not always. Because 40% of silver is based on industrial fabrication, silver sometimes follows the base metals. Having said that, both silver and gold are likely to be affected by the US dollar over the next year. We think silver has more price growth potential than gold at this point because the supply and demand fundamentals are better for silver than for gold.”
Looking to the silver market, Hugh Clarke of Endeavour Silver Corp. (TSX: EDR; FSE: EJD; EDRGF: PNK) stated that, “Firstly, silver is a small, illiquid volatile market and historically has been a follower, not a leader. It follows gold but will, from time to time, move on its own. At this moment, we may be in the early stages of this kind of independent price movement.”
Where the New Money Is: A Snapshot of Gold and Silver Futures
By Jennifer Lee, Gold-MiningStocks.com
There’s no doubt about it, gold and silver are on the rise, even as investors and markets absorb the short term profit taking. Gold futures were sitting at a 25 year high by mid January of this year, with current rates resting at around 553.80 an ounce. Silver is not too far behind this hurdle, reaching a 22 year high at the end of this month, now up to $9.44 an ounce, with talk of it reaching the $10.00 mark in the none too distant future.
2005 was a momentous year for the metals, as currencies fluctuated and gold once again proved itself to be the renowned safe haven that it is, when investors are looking for a stable place to park their money.
Canarc Resource Corp. (TSX: CCM; OTCBB: CRCUF) is a growth-oriented, gold exploration and mining company. The Company's principal assets are its 100% interest in the New Polaris gold deposit, British Columbia and its 80% option on the Benzdorp gold property in Suriname.
Endeavour Silver Corp. (TSX: EDR; OTC.PK: EDRGF; FSE: EJD), is a silver mining company focused on the growth of its silver resources and production in Mexico. The expansion program now underway at the high grade Santa Cruz silver mine in Durango, Mexico, will develop Endeavour into one of the top five primary silver producers in the world.
About our Gold and Mining Portals
Gold-MiningStocks.com (GMS) and MiningSectorStocks.com (MSS) are investor and industry news portals for the gold and mining sector within the InvestorIdeas.com content umbrella. The GMS and MSS websites do not make recommendations, but offer unique free information portals to research news, exclusive articles, interviews, investor conferences and a growing list of participating public companies in the sector.
Additional Investor Research Resources
The Investor Incite Newsletter: InvestorIdeas.com free "Investor Incite" Newsletter consists of company and industry updates, investment research and developing trends in key areas such as Homeland Security, Renewable Energy, Nanotechnology, Mining and more.
“The Insiders Corner”, a weekly feature by well-known financial writer and author Michael Brush.
Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. GMS and MSS are compensated by Canarc Resource Corp (TSX: CCM; OTCBB: CRCUF) two thousand five hundred per month. Endeavour Silver Corp. (TSX: EDR; OTC.PK: EDRGF; FSE: EJD) two thousand five hundred per month.
Source: Gold-MiningStocks.com, Canarc Resource Corp., Endeavour Silver Corp, Kinross Gold Corporation, Pan American Silver Corp.