Gold and silver are on the verge of major breakouts.
Gold Breaks $1,800
July 1 (King World News) – Ole Hansen, head of Commodity Strategy at Saxo Bank: Gold has reached another new high for the cycle with $1800/oz now within striking distance, a level that the futures contract (GCQ0) has already reached. The market capped its best quarter in four years as the WHO warned that the worst of the pandemic is still to come…
To learn which junior explorer is looking to drill multiple major tier one discoveries CLICK HERE OR ON THE IMAGE BELOW
The break higher looks intact as long as the daily closes remain north of 1,745-1,750 area. Gold will continue to look for direction either from new policy measures aimed to force inflation higher or negative real rates more negative or some more participation from the US dollar and other commodities, especially silver.
Silver has outperformed gold this week with the Gold/Silver ratio falling below 98 (ounces of silver to one ounce of gold). With copper racing higher to reach $2.75/lb. on virus related supply worries and firming Chinese demand, silver’s short-term upside potentials could be better than golds. Especially on a break above the March high and trend line resistance around $18.40/oz. (see below).
Silver On The Verge Of A Major Breakout At $18.40
Gold’s continued climb towards $1800/oz has shifted some focus to silver given the the additional tailwind it is currently receiving from rising copper prices. Crude oil remains range-bound but for now supported by a potential big drop in stocks.
New interview after high-grade gold discovery and Tuesday’s financing announcement!
An Incredible Two Weeks
Bryan Slusarchuk, CEO: Things are moving so quickly on Fosterville South, Eric, and I appreciate that you have been there since day one and want to keep investors up to date.
Everybody knows that we have had an incredible two weeks. A new shallow and high-grade gold discovery at our Golden Mountain project, ongoing drilling at Golden Mountain and of course the corporate news regarding the spin out of two non-core assets, which represents some incredible potential value for Fosterville South shareholders.
Financing Adds To Shareholder Base That Includes Sprott & Beaty
It has been a whirlwind and things keep getting better. Today we announced a $7.5 million financing that puts our already strong treasury and balance sheet in an even better position as we accelerate drilling on our projects.
As per our previous public disclosure, we have some great shareholders such as Eric Sprott and Ross Beaty, but today’s financing is contemplated to add new, big shareholders to the mix.
World’s Hottest High-Grade Gold Region
People are starting to realize that our 4 year head start in what I think is the world’s hottest high-grade gold mining region can pay huge dividends. We have opportunities to enhance value via our ongoing drilling programs and also corporately, via the 2,700 square kilometer land package we now have acquired over a multi-year period.
We will keep KWN readers updated, Eric, and it’s my personal belief that every gold bull needs to take a closer look at buying Fosterville South, if they don’t already own it. Fosterville South, symbol FSX in Canada and FSXLF in the US.
Nightmare For Gold Shorts
***Also Released: A Nightmare For Gold Shorts Is Now Unfolding CLICK HERE.
***To listen to the timely and powerful audio interview where Alasdair Macleod discusses this setup with gold being on the verge of a historic breakout that will trigger a massive short squeeze click here or on the image below.
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