You are here
Lovers and central banks walk away from gold's scorching rally
By Eddie Van Der Walt
Bloomberg News
Tuesday, November 8, 2016
Soaring gold prices have pushed out some of the biggest buyers.
Jewelry demand plunged 21 percent in the third quarter, taking the year-to-date total to the lowest level since 2009, according to a report from the World Gold Council. Central banks bought almost half as much gold as a year earlier.
"The jewelry market is a price taker, and given how much prices have increased, many chose to sit on the sidelines," said Alistair Hewitt, head of market intelligence at the London-based group, which lobbies on behalf of mining companies.
Central banks reacted similarly. "When they see rapid movements in price, they want to wait and see what that means in terms of their reserves," he said. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2016-11-08/lovers-and-central-ban...
Sandspring Resources Commences 2016 Exploration Campaign
Company Announcement
August 17, 2016
Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.
In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.
For the remainder of the announcement and highlights of the 2015 drill program:
https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
