Today: Gold, Silver Prices in India
Silver zooms, gold declines
Mumbai, Jan 6 (UNI) Speculative demand today saw Silver zoom by Rs 310 to settle at Rs 28,285 per kg, while Gold declined by Rs 55 to Rs 16,805 per ten gm on sluggish demand from industrial users, traders at the Bombay Bullion Association (BBA) said.
The white metal has surged by Rs 900 in the last three days.
Silver opened at Rs 28,300 per kg, soaring by Rs 325 against its overnight close. At the end of the day, it stood at Rs 28,285 per kg with a gain of Rs 310.
Standard gold and Pure gold resumed down by Rs 25 per ten gm each. Later, this gap widened and Standard gold and Pure gold settled at Rs 16,805 and Rs 16,885, declining by Rs 55 and Rs 60 per ten gm respectively, traders added.
In London and Asian markets, Gold was quoted low at USD 1123.00/1123.02 per troy ounce and Silver was up a USD 17.90/17.92 per troy ounce from their previous close, traders said. Read more
Sage Gold and Consolidated Puma Announce Merger Agreement
Sage Gold Inc. and Consolidated Puma Minerals Corp. are pleased to announce that the companies have entered into an arrangement agreement providing for Sage to acquire all of the outstanding shares of Puma in an all-share transaction. The combination of these two companies will significantly enhance the cash position of Sage and provides Puma shareholders with an investment in a company with a strong exploration team and an exciting gold property portfolio in the Beardmore Geraldton Gold camp in Northern Ontario. Puma currently has approximately $3.5 million in cash (before closing and other costs). Read more
GoldSpring Announces Its First Gold and Silver Mineral Reserve, Estimated at $604 Million
GoldSpring, Inc. today is pleased to announce the results of a Mineral Reserve Declaration Report, compiled in accordance with the Society of Mining, Metallurgy, and Exploration (SME) 2007 Mineral reserve reporting guidelines. The mineral reserve, an estimate of the economically mineable tonnage in the Hartford / Lucerne Complex, includes 20.3 million tons of ore, with 564,000 recoverable ounces of gold, and 5.85 million recoverable ounces of silver, with a gross value of $604 million at current prices. The Report also quantified mineral resources of 30 million additional tons, containing 870,000 ounces of gold and 12.9 million ounces of silver.
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Gold and Silver: International Forecaster 2009
This past January, before the new president was inaugurated, in commemoration of the 30th anniversary of the establishment of diplomatic relations between the US and China, a conference was held by the Chinese People’s Institute of Foreign Affairs and the Kissinger Institute on China. Former President Jimmy Carter, Henry Kissinger, Brent Snowcroft and Zbigniew Brzezinski led the US delegation.
Mr. Brzezinski proposed at that conference that a US-China G-2 be formed. He stated a long list of international problems that China could help the US find solutions for, such as the global financial crisis, climate change, North Korean and Iranian nuclear ambitions, tension in India and Pakistan and the Israeli-Palestinian conflict.
Behind Zbig’s proposals are his perpetual efforts to act to the disadvantage of Russia, so that a western power base can be built in Eastern Europe and down into the Middle East and over into West Asia. This is really what Iraq and Afghanistan are all about. He cited China’s rapid growth of the past 20 years and reminded China that it would have taken years longer without the expansion of US-China trade relations. He said there should be interdependence, yet relations still were those of unending US provocation and hostility.
On the other hand Larry Summers, Mr. Obama’s top economic advisor and director of the White House National Economic Council, has proposed a multilateral approach to deal with multilateral global economic problems that would involve a new grouping larger than the Group of Seven richest nations with advanced economies. This, of course, is in opposition to Brzezinski’s approach.
It looks like Summers has the upper hand at the moment, even though Brzezinski brought Mr. Obama to his present position. Read more
Gold & Silver Investment 2009
In today’s uncertain world a diversified precious metals’ investment portfolio is perhaps a logical approach to the dangers of future devaluation of the US dollar and inflation from aggressive policies to counter the impact of the recession.
In the late 1970s the world faced similar challenges, and the best performing asset classes were cash, oil and gold and silver. In the Great Depression of the 1930s only gold came out on top, and then silver followed. Read more
MSS Announces Featured Silver Mining Stock: Endeavour Silver Corp
MSS Announces Featured Silver Mining Stock: Endeavour Silver Corp,
MiningSectorStocks.com announces featured silver mining stock: Endeavour Silver Corp, a silver company with plans to become one of the top five primary global silver producers
www.MiningSectorStocks.com (MSS) an investor and industry portal for the mining sector, announces a new featured company: Endeavour Silver Corp. (TSX V: EDR; OTC.PK: EDRGF; FSE: EJD), with silver resources and production based in Mexico, the world?s top producer of silver.
