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“Incredible demand for physical gold” in New York Markets
“There is incredible demand for physical gold in New York markets,” said Peter Spina, president and founder of gold news and information provider GoldSeek.com., referring to it as a “physical gold rush.”
“Those who are caught short physical metal are looking around and seeing a window closing here,” he said. They’re “desperately seeking physical metal before the price could jump overnight.”
“Meeting a surge in demand will always stretch capacity, but London vaults have been working overtime to service this London-New York flow,”
Source – Market Watch
World Copper CEO Gord Neal needs partners to advance Zonia Copper project, Arizona
“The next phase of getting (Zonia) into production is a bankable feasibility study so you can fund it. A bankable feasibility study is going to cost $5 million to $7 million, and we don’t have that right now,” Neal said.
“The plan is to get it there, but we’re going to need partners to help us get it there. So that’s why (we’re doing) the strategic review, and it looks like we’ll have an announcement in the next few weeks on one of these opportunities.”
Source – Investing News Network (full interview video with CEO Gord Neal)
UBS raised gold target to $3200
“With the price now reaching our long-held target of $3,000/oz, the main question is whether the rally will continue. We think so, as long as policy risks and an intensifying trade conflict continue to spur safe-haven demand,” UBS said.
Source – Seeking Alpha
UBS Group AG – formerly Union Bank of Switzerland, is a multinational investment bank and financial services company based in Switzerland.
Silver Price Forecast – Silver Continues to Look Sideways Overall
The silver market was rather quiet during the early hours on Wednesday as we continue to see a lot of choppiness.
I think this is a scenario where you have to be somewhat hesitant to buy silver, and I think really what we are looking at is a situation where we are just simply consolidating overall. I believe that the $28.75 level is significant support, just as the $31 level is significant resistance.
Source – FXEMPIRE
Gold achieved historical level in Vietnam
Saigon Jewelry Company bar went up 1.09% to VND92.3 million (US$3,619.61) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring also reached a new peak at VND91.5 million per tael.
Source – eVnExpress