Even before the coronavirus sprang upon an unprepared China the credit cycle was tipping the world into recession. The coronavirus makes an existing situation immeasurably worse, shutting…
Gold broke out this week. The yellow metal pushed through the $1,600 level and continued to climb. Conventional wisdom tells us this is all about safe-haven buying due to fear that the coronavirus will stunt global economic growth. That is certainly a factor. But could there be more to it than that?
Klondike Gold (TSXV: KG) and Ximen Mining (TSX.V: XIM) entered into a property purchase agreement whereby Klondike will sell to Ximen all of its gold properties in British Columbia, Canada.
The properties, called Ron Gold (Nelson), Clubine, Hughes, and Quartz Mountain, total 98 mineral claims covering 4,171 hectares and one Crown Granted mineral claim of 8.7 hectares located in the southeastern part of the province.
Klondike expects Ximen to unpack the value of the BC properties for both companies
Under the terms of the agreement, the buyer has to pay $100,000 in cash and make payments of 1,000,000 Ximen common shares and 1,000,000 Ximen warrants to purchase 1,000,000 common shares of Ximen at $0.45 per share for a period of 24 months from the date of issuance.
◆ Gold has surged to new record highs in euros, yen, Canadian, Australian and New Zealand dollars and most emerging market currencies.◆ Gold has built on recent gains and reached seven year highs in dollars at $1,636/oz and reached new record highs in euros today at €1,515.80/oz.◆ Safe haven gold has surged to new record nominal highs in most fiat currencies in the word including the Japanese yen, Australian dollar, the New Zealand dollar, Swedish krone, Norwegian krone, Russian ruble South African rand and Indian rupee◆ Gold is at or very close to all time record nominal highs in all fiat currencies except the US dollar; gold is also testing record highs in British pound and Swiss franc.