Silver Price Forecast – Silver Continues to See Sideways Action

Paul Williams, managing director of Solomon Global, said about the rise in gold prices that it was a “direct response to escalating trade tensions and the growing economic uncertainty that this brings.”

Source – Reuters

Futures – are contracts to buy or sell a specific underlying asset at a future date. In this case we are talking about gold.

Franco-Nevada said Tuesday it agreed to acquire a royalty package consisting of a 7.5% gross margin royalty on the Côté gold mine in Ontario from a unnamed third party for $1.05B in cash.

The company said the royalty package applies to mineral production from the Chester 1, 2 and 3 claims, which cover all of the mineral reserves and over 99.9% of current mineral resources on the Côté mine.

Source – Seeking Alpha

Franco-Nevada Corporation is a Canada based, gold-focused royalty, and streaming company with the most diversified portfolio of cashflow producing assests

Australia has not escaped the threat of increased tariffs on its exports to the U.S., but it does have one world-class industry which is reveling in commodity market confusion, gold.

Both Citi and RBC Capital Markets see the gold price continuing to rise while the Resources Department of the Australian Government is forecasting an increase in national output from 286 tons this year to 309 tons next year, cementing Australia’s position as the world’s third biggest gold producer after Russia and China.

Gold’s rise in U.S. dollars is magnified in Australia by the currency effect with an exchange current rate of US63 cents delivering an Australian gold price of A$4903/oz, a record which easily eclipses all earlier gold booms.

Source – Forbes