RSD Weekly Recap: New Orleans Investment Conference Edition
This is Gerardo Del Real with the Resource Stock Digest weekly recap — New Orleans edition.
Gold and silver spiked higher while the Dow dropped nearly 1% immediately after reports that the FBI was re-opening an investigation into Hilary Clinton’s emails.
Gold prices gained for third straight week and hit a one month high before closing at $1,277 an ounce.
Silver closed up approximately 0.96% and closed at $17.73 an ounce.
It’s worth noting that gold is still down 3% for the month while silver is down approximately 7% for the month.
Oil meanwhile closed down 2.13% at $48.66 a barrel.
Those calling for a weaker dollar and a resumption of higher gold prices may be in for a surprise as economic data seems to be providing the cover the Fed may need to justify a rate increase.
I just returned from the New Orleans Investment Conference. There was a cautious optimism in the air.
The conference was very well organized by Brien Lundin and featured Rick Rule, Brent Cook and Outsider Club founder and co-owner of this site Nick Hodge among others.
At the conference Nick announced that the Dines letter by Mr. Jim Dines would now be a part of the Outsider Club.
Companies that stood out at the conference include Millrock Resources, Atlantic Gold, Midas Gold, Auryn Resources, Balmoral Resources and Brazil Resources.
Although Morgan Poliquin and Almadex Minerals did not attend this year’s conference. Morgan, Almadex and the drilling success Morgan has had were also popular topics.
It’s always easier to make discoveries when you’re actually drilling.