A New Gold Rush?
(Kitco News)- While the gold market has beenpretty uneventful since the start of summer, you wouldn’t know it in Canada’sYukon Territory.
Our editor Neils Christensen just returned from a week packed with mine toursand interviews from Canada’s great white North. Highlights include hisinterview with Ranj Pillai, the Minister of Energy& Mines for the Yukon government, who told Kitco News that theterritory is ramping up BIG TIME capital expenditures for its resourceindustry.
Kitco contributor and mining expert David Erfle told Kitco News that companiesoperating in Yukon are “ready, willing, and able” to continue growing. Watchhis interview with Neils to find out his top picks from the territory.
And if you were wondering....many of our hawk-eyed viewers were quick to pointout what seemed like falling snowflakes in the videos but alas, it is summer inthe Yukon and that is simply pollen floating around!
On to the gold front now. This week, Kitco News’ Anna Golubova reported thatthe recent sell-off in the commodities space was not “fundamentally warranted,”this according to the Bank of Montreal (BMO), which views gold as a “natural”defensive play if tensions between the U.S. and China escalate into afull-blown trade war.
“From a fundamental perspective, commodities are still in a good spot. Wecontinue to revise higher our demand estimates for 2018, and the vast majorityof commodities are trading out of the cost curve in an effort to attractadditional supply to market,” BMO Capital Markets analysts wrote in their Q3Commodity Price Update.
Yet the metal was not getting any reprieve this week. Gold hit a nearly12-month low Thursday and silver notched a seven-month low. Gold and silverbulls need a good dose of bullish fundamental news, which has been absent fromthe marketplace in recent weeks.
Ahead of the weekend August gold futures saw a bit of areprieve as prices were last up $4.20 an ounce at $1,257.10. July Comex silver was last up $0.149 at$16.10 an ounce.We hope you enjoy our curated pick of videos this week. Next week should be aquieter one with Canada Day on July 1 and the Fourth of July in the U.S.
Enjoy the long weekend!
By Daniela Cambone
For Kitco News
Follow @DanielaCambone
dcambone@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.