👷♀️ Greetings, Contrarian!
This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and connect ore, markets and everyday hustle. 📰
📝 Here are the highlights
📉 Gold Breaks $4,000
🥈 Copalquin Strike Extended
☢️ Uranium Spot Rises
📌 Daily Commodity Prices
📉 Gold Breaks $4,000
Gold prices fell to their lowest level since mid-July, with spot gold dropping 0.6% to $3,995.42 per ounce, as rising oil prices and stronger-than-expected US economic data fuelled expectations of further interest-rate increases.
Gold is now heading for its second consecutive monthly decline, down 3.8% in October. US GDP growth exceeded expectations, while September inflation accelerated, strengthening the possibility of a Federal Reserve rate hike in December, with traders pricing in a 74% probability.
Higher interest rates make non-yielding gold less attractive, adding further pressure to prices. However, UBS expects gold could recover to $5,000 or higher next year if the Fed eventually resumes cutting rates and inflation eases.
🥈 Copalquin Strike Extended
Mithril Silver and Gold Limited (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) has reported drilling and surface sampling results from Target 4 at its Copalquin property in Durango State, Mexico.
Highlights:
0.50 metres of 1,738 g/t AgEq
1.15 metres of 1,048 g/t AgEq
2.65 metres of 411 g/t AgEq, including 0.90 metres of 622 g/t AgEq
Drilling has extended mineralisation along the Copalquin-Zaragoza structure from 550 to 700 metres of strike across two sub-parallel veins, while channel sampling at the historical San Manuel mine returned up to 16.55 g/t gold and 616 g/t silver over 0.6 metres.
Assays are pending from further step-out holes, and the structure remains open for approximately 400 metres in both directions.
📰 In Other News
🐦 Uranium Spot Rises
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Happy Speculating!
The Editor
🚨 DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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