A weekly survey of gold traders showed that market participants have turned noticeably more positive on the yellow metal of late.
In Bloomberg’s latest weekly gold survey, 18 of 26 respondents said they expect gold prices to rise next week. This marked the highest bullish response since November 11. Two traders predicted the yellow metal will decline, while the remaining 6 were neutral.
The report attributed to the positive outlook on gold to escalating sovereign debt concerns in Europe, coupled with several other macroeconomic factors. ”Central banks are adding to their gold reserves for the first time in a generation. South Korea said last week it bought 15 tons in November to diversify its foreign-exchange reserves. The World Gold Council expects central banks to buy as much as 450 tons this year. Official holdings stand at 30,708 tons, data from the council show.”
Aurizon Mines Advances Duvay Gold Project
- The current field operations at Duvay are centered around a mini-bulk sampling program and drilling
- The first two pit sample concentrates have been shipped to an independent laboratory for analysis by fire assay; processing of the third mini-bulk sample has commenced
- Results from the first 13 hole drill program included the intersection of 83.19 grams per tonne of gold over 1.0 meters.
