Gold ETFs (GLD) Slide, but Building a Good Foundation

Gold ETFs slid Wednesday, with the SPDR Gold Trust (GLD) falling $1.01 to $178.09 per share.  Weakness in the GLD, the largest of the gold ETFs, came as spot gold dipped $6.19 to $1,829.42 per ounce after two better than expected U.S. economic reports.
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Precious Metals Rebound, XAU Turns Higher

Precious metals rebounded from earlier losses in early afternoon trading on Wednesday, despite a modest move higher in the U.S. dollar against most major currencies.

COMEX gold futures, per the December contract, bounced from an intra-day low of $1,813.60 per ounce to as high as $1,842.00.
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Spanish Mountain Gold Launches Pre-Feasibility Study

Spanish Mountain Gold (SPA.TSXV) announced the start of a Pre-Feasibility Study (PFS) for its Spanish Mountain Gold Project in Canada.   The PFS will refine the estimates of capital and operating costs that were the basis for the Preliminary Economic Assessment (PEA) completed by the Company in December 2010.   Spanish Mountain currently has ongoing resource definition, geotechnical, metallurgical and power supply studies underway Read More »