Gold

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Election May Impact Near-Term Action in Gold & Silver

Metals broke out earlier in the year because there has likely never been so many fundamental reasons to buy gold and silver. We’ve seen economic turmoil, political strife, social unrest, a $3 trillion federal deficit, and a dollar weakened by fiscal and monetary stimulus – all happening at once.
How the markets finish the year will depend on whether these conditions persist.

The near-term bearish scenario for metals would probably have something in common with 2016.


Nordgold matches Shandong Gold’s offer for Cardinal in takeover battle

A long-running battle between Nordgold (LON: NORD) and China’s Shandong Gold over Cardinal Resources (ASX: CDV) took a fresh turn on Wednesday, after the Russian gold miner matched Shandong’ s latest bid of A$1 per share.

Both suitors have been locked in a back-and-forth contest for the Australian miner — which owns the 5.1 million-ounce Namdini gold project in Ghana — since Nordgold put forward a 45.7 Australian cents-a-share bid in March this year.


Kinross Gold mulling sale of Americas mines

Canadian miner Kinross Gold (TSX: K) (NYSE: KGC) is said to be studying a sale of its gold mines in North and South America and moving its primary stock listing to London in a move to increase the company’s value.

The Toronto-based gold producer is also considering doubling down on its portfolio of assets in Russia and West Africa, The Globe and Mail reported citing three unnamed sources familiar with the matter.