The USD is short term overbought in a bear market that started in late 2022. While gold is short term oversold in a bull market that also started in late 2022. On Friday and today, gold has rallied off the overnight trading lows and has gained strength during the US trading.
It looks like we are very close to a turn on gold from current short term weakness and a resumption of the bull market. In the past couple weeks, the gold and metals stocks, big and small, have been beaten down creating an opportunity for investors to get bargain prices.
One of my favourite mining companies is i-80 Gold, they are on a path to become one of the top mining companies in Nevada. On Thursday, February 23, 2023 at 12:00pm EST they will be hosting an online presentation. Here are the details on how to attend.
For those following the company it will be a great opportunity to learn what they have found at their Ruby Hill project, key geophysical targets and upcoming drilling.
I’m eager to hear more about the geophysical targets. To the west and below the historically producing Archimedes pit, they have found a world class gold system that looks big and that it will be a future low cost, high margin mine. Below the pit they have a geophysical anomaly that looks like it could be a porphyry.
To the south of the Archimedes pit, they have found a remarkable CRD with high-grade zinc, lead and silver, as well as an overprint of high-grade to bonanza-grade gold. The in situ metals values in the rock are off the charts. To the immediate south of their CRD is a big geophysical anomaly which has the potential of being the source of the CRD discovery.
I would highly recommend attending the i-80 Gold online presentation.
Cheers,
Allan