Precious metals oscillated between gains and losses on Monday while the euro currency surrendered nearly its entire gain versus the U.S. dollar.
COMEX gold futures, per the April contract, settled lower by 0.1% at $1,724.90 per ounce. The yellow metal traded in a range of $1,718 and $1,735 today.
Silver futures for March delivery closed higher by 0.4% at $33.72 per ounce on the COMEX. Other metals posted modest losses, with platinum falling 0.6% to $1,649.70 per ounce, palladium dipping 0.6% to $698.55 per ounce, and copper futures sliding 0.6% to $3.84 per pound.
The euro currency jumped to as high as 1.3284 against the dollar in overnight trading after Greece passed a new set of austerity measures, but was unable to maintain most of its gain as concerns persisted over the health of other euro zone nations including Italy, Portugal, and Spain. This afternoon the euro/dollar currency cross remained higher by just 0.1% at 1.3208.
West Kirkland Reports “Encouraging” Results at Cunningham
West Kirkland noted that the intercepts confirm a three dimensional gold bearing target in classic Kirkland Lake style where further drilling will be implemented to map the best grade-thickness. The gold intercepts are adjacent to an underexplored splay of the Cadillac Lake-Larder Lake Break which has a length of two kilometers on the West Kirkland land position. The current intercepts outline the mineralization over a strike length of approximately 580 meters with a depth extent in excess of 375 meters. Full West Kirkland Mining Press Release.
* 20.10 g/t of gold over 1.00 meters in Hole KC1186
* 17.80 meters of 1.25 g/t of gold in Hole KC1187
* 2.00 meters grading 3.69 g/t Au in Hole KC1194