Full Article: SWOT Analysis: Can We Expect Further Weakening of the U.S. Dollar?
By: Frank Holmes
Strengths
- The best performing precious metal for the week was silver, climbing 2.36 percent and just beating out gold’s price performance as softer economic data emerged.
- Gold traders and analysts are split on their outlook for gold, reports Bloomberg, with 12 bearish, three bullish and four neutral this week. On May 16 the yellow metal advanced for a fourth day, with Kotak Commodities Services saying gold is supported by “mixed U.S. economic data, weakness in the U.S. dollar, geopolitical tensions and uncertainty about Trump’s policy actions.” On the prior Friday, consumer prices (excluding food and energy) rose 1.9 percent year-over-year for April, the least since 2015, while retail sales were also weaker, reports Bloomberg.
- Eldorado Gold will “gain an operating foothold in its own country with a deal to take full control of Integra Gold Corp,” reports Bloomberg, offering the equivalent of C$1.2125 for each Integra share. That is a 52 percent premium to Integra’s closing price on May 12, according to a statement on Monday from Eldorado. The proposed acquisition provides Eldorado with its first operating mine in Canada, offering G&A and income tax benefits, along with exposure to a lower political risk project, notes a Viii Capital report
Full Article: SWOT Analysis: Can We Expect Further Weakening of the U.S. Dollar?
By: Frank Holmes
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Canadian mining companies have until May 30 to list any payment to foreign governments made in 2016 as part of the new Extractive Sector Transparency Measures Act. The Canadian law was passed in 2015 and came into effect into effect last year.
“[T]he average performance of the USD gold price in the months of June and July over the past 5 and 10 years, imply that slower bullion demand from jewellers translates into a dull market,” wrote Tom Kendal, ICBC Standard Bank’s head of precious metals strategy, in a report Friday