"Even if he doesn’t know when exactly it will happen, Gold Stock Analysts editor John Doody says gold is headed higher. Doody says 25% of mine production comes from Russia and China, and that portion doesn’t enter the market. “It’s like a big pimple that is coming to a head and I don’t know exactly when that’s going to happen but it’s going to explode,” he says. “I think the pimple is going to burst this year and where the prices go, who knows? But it’s going to go higher.” Doody says the much anticipated Federal Reserve rate hikes will just be a chance for the central bank to make noise in the market. “They will take out their gun (and) shoot a bullet into the ground so everyone hears the sound of an interest rate increase, might be a quarter of a percent, if it was any more than that I would take the gun and shoot myself,” he says. “I think they will do a token increase and that’s it.” Looking at currencies, Doody says the weaker peripheral currencies compared to the U.S. dollar are helping miners in foreign jurisdictions. “When they translate their cash costs of production back into U.S. dollars, they’re falling. So the miners are going to earn more money this year than last year,” he says."
Alaska - NOVAGOLD Marks 2014 by Reaching Important
Milestones in Advancing Permitting of Donlin Gold.
We have another positive release from NOVAGOLD for Gold mining in Alaska. Now the Gold price above $1,300 should bring interest back to this safe mining jurisdiction and TNR Gold Shotgun Gold project.
No comments:
Post a Comment