Gold and silver futures posted substantial gains on Thursday amid a broad-based rally on Wall Street.
COMEX gold for December 2011 delivery settled higher by $35.50, or 2.1%, at $1,765.10 per ounce. Silver futures, per the COMEX December 2011 contract, climbed $0.55, or 1.6%, to $34.50 per ounce.
The advance in precious metals was boosted by the European Central Bank’s (ECB) unexpected interest rate cut, which helped send commodities and stocks considerably higher.
Gold and silver were also boosted by weakness in the U.S. Dollar Index (DXY), which fell 0.6% to 76.636 against a composite of the world’s most traded fiat currencies.
Colossus Minerals Appoints New VP, Investor Relations
Colossus Minerals (CSI.TSX) Colossus Minerals Appoints New VP, Investor Relations. Full Colossus Minerals News Release.
HIGHLIGHTS:
- Ms. Wilkinson has over 20 years experience in the mining industry in both investor relations and other management roles.
- Prior to joining Colossus, she served as Vice President, Investor Relations of Breakwater Resources Ltd., a position she held from October 2005.
- Ann Candelario, who joined Colossus in September 2010, has resigned her position as Vice-President, Investor Relations of the Company, effective immediately, to pursue other opportunities.
CLAUDIO MANCUSO, PRESIDENT AND CEO:
“Ms. Wilkinson is one of the most highly regarded investor relations professionals in our industry. Ms. Wilkinson’s appointment continues our evolution and strengthens our senior management team as we continue to advance the Company’s strategy of bringing Serra Pelada into production."
COLOSSUS VS. S&P 500, XAU
MICHAEL GRAY, MACQUARIE:
“We continue to recommend Colossus with an Outperform recommendation and a 12-month target price of C$13.00."
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