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Excellon Resources Inc. T.EXN

Alternate Symbol(s):  EXNRF

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities, and shareholders. The company is advancing a precious metals growth pipeline that includes: Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and discovery potential; an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history.


TSX:EXN - Post by User

Bullboard Posts
Post by xyz_trader1on Apr 19, 2016 10:19am
158 Views
Post# 24783165

Overnight The Story is Silver Not Gold

Overnight The Story is Silver Not Gold

Overnight The Story Is Silver Not Gold

(Kitco News) - Looking just at gold, a morning commentary would have a sound-bite consistent with the movie “Ground Hog Day.” The US$ is marginally weaker but equities are breaking higher. Generally a scenario for a muted move in gold, which is represented by a modestly higher open this morning. The big story is silver, which has broken through the 78:1 resistance level against gold, with big buying coming out of the Shanghai market. The recent better economic data out of China has focused investors on the general commodity space, which has been decimated with the prospect of slowing Chinese demand. It is premature to call a turn for China but should growth continue to accelerate, the base metal and industrial complex will outperform. Its possible that silver’s momentum may be enough to pull gold through the $1,250 level, especially if North American buying reignites. Silver has been ignored by North American investors but this can turn on a dime. I hope the US and Canadian Mints learned their lesson last summer. “If” physical supplies begin to tighten again, premiums for coins/bars will make last summer look like a bargain. Supplies are currently sufficient but if premiums begin to ratchet higher, it would indicate the move may have some serious legs.

By Peter Hug, Kitco Metals Global Trading Director; phug@kitco.com

 

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