RSD Weekly Recap: K2 Gold (TSX-V: KTO)
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
The holiday week saw Gold rise nearly 1%, closing at $1,278 an ounce. Silver also surged higher, closing at $17.50 or a weekly gain of over 1%. Near-term momentum looks bullish for the precious metals.
The dollar hit an 8-month low, breaking the 97 level to close at 96.67, down nearly 1%. Lots of people calling for a breakdown of the dollar and a resurgence of the Euro. I’m headed to the 121 Mining Investment Conference in New York on the 6th and 7th. If you believe this is the death of the dollar I have a bridge in Brooklyn I’d love to sell you.
Do your own due diligence.
Platinum was basically flat, closing at $952 an ounce. Palladium however hit a two and a half-year high, closing at $837 an ounce.
Copper was flat again at 2.55/lb.
Zinc was down nearly 4%, closing at $1.14/lb.
Oil was hit hard, closing at $47.74 for a weekly loss of over 4%.
Uranium was down another 2.5%, closing at $19.75 lb.
I had the opportunity to catch up with a company that I’m watching closely, K2 Gold (TSX-V: KTO). I had the opportunity to speak with CEO Stephen Swatton to go over the drill program which just commenced at the flagship Wels property.
The company is led by serially successful people that include — along with Stephen Swatton — Chairman John Robins, Allison Armstrong, Al Doherty and Gary Freeman. Keep an eye on K2.
That’s all for this week. This is Gerardo Del Real with the Resource Stock Digest weekly recap.