Goldman Sachs raised its gold forecasts this morning, as follows:
3-month target: to $1,565 from $1,480 per ounce
6-month target: to $1,635 from $1,565 per ounce
12-month target: to $1,730 from $1,690 per ounce
In a report to clients, Goldman’s Commodities Research team wrote that “We expect the low US real interest environment, combined with continued Central Bank buying will continue to provide support for gold prices in 2011. However, with our US economics team forecasting strong US economic growth in 2012, we expect US real interest rates to begin to rise into 2012, likely causing gold prices to peak.”
Dorato Reports Results at Copper-Gold Target
Dorato Resources (DRI.TSXV) announced the receipt from Minera Afrodita of drill core assay results for holes CBC-05 and CBC-06 at the Cobrecon copper-gold porphyry target, in the Condor Copper-Gold District in northern Peru. Cobrecon is the northern of two large, parallel porphyry systems; the southern system, Cobrecon Sur, is yet to be drill-tested.
Dorato is focused on the highly prospective Cordillera del Condor Gold District in northern Peru, adjacent to the border with Ecuador – one of the most important gold-bearing districts in the region since pre-Incan times. Dorato has the right to acquire 100% of Minera Afrodita. Full Dorato News Release.
Dorato is focused on the highly prospective Cordillera del Condor Gold District in northern Peru, adjacent to the border with Ecuador – one of the most important gold-bearing districts in the region since pre-Incan times. Dorato has the right to acquire 100% of Minera Afrodita. Full Dorato News Release.
cordillera del condor gold district
Keith Henderson, Dorato's President and CEO:
“I am delighted that a multi-national gold royalty company like Franco-Nevada, who have been significant Dorato shareholders since 2008, continue to show considerable belief if the project. Franco’s continued involvement represents a real vote of confidence in the prospectivity of targets like Lucero and Cobrecon, as well as the numerous other targets currently being evaluated in the belt.”
Highlights:
* Both holes CBC-05 and CBC-06 were drilled near the southeast end of the surface geochemical anomaly.
* The most southerly of the holes (CBC-06) intersected 63.5 meters grading 0.25% copper and 0.2 g/t gold, also expressed as 0.37% copper equivalent.
* Results are pending for the east-directed pair of holes, CBC-07 and CBC-08, drilled from the same platforms.
INTERACTIVE DORATO RESOURCES CHART
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