Gold prices have settled somewhat in recent weeks, potentially providing investors with new opportunities to set themselves up to take advantage of longer-term price gains.
A report from Bloomberg News notes that gold prices had remained relatively unchanged in London during Friday’s trading, while platinum and palladium prices had fallen somewhat.
- John March
Silver and gold dealers and investors alike have benefited from the ongoing strength seen in commodities markets recently, with gold having especially commanded a significant share of media attention over the past couple of years.
- Bruce Sands
A report by Dow Jones cites a softer U.S. dollar and positive economic indicators such as an improved manufacturing outlook in accounting for some of the current price rally in the gold market. The article notes that the price peaked at $1,124 on Monday, marking the highest price since December 17.
Another major factor cited by the news service was the strength of crude oil prices, which ties in with gold because funds typically invest in more than one commodity at a time.
Argentina and Mexico saw significant silver mining developments this week.
- Superior Gold Group
The silver mining industry is off to a good start to the new year, with one company having just reported significant results at a mine in Mexico.
According to the Pan American Silver Corp., its underground exploration drilling program at the La Colorada mine in Zacatecas, Mexico has yielded “exceptional” results, including a high-grade NC2 vein with a strike length of 770 meters.