Europe’s QE3 to Boost Gold and Silver

GoldStockTrades.com – Gold is finding support and presenting a potential discount buying opportunity. It is important to buy when the public is disinterested.

Gold is pulling back to long term support and is able to be purchased at a discount. Investors may be seeking riskier assets due to fears of inflation and higher interest rates. Right now industrial metals such as copper/ nickel, oil and blue chips are outperforming due to their value of being hedges against inflation and represent the riskier assets.

Gold and silver which has in the past represented risk off is still in consolidation mode. Eventually investors will realize that the monetary metals can do well in both a deflationary risk off environment as well as an inflationary risk on environment and the trend will turn significantly higher as it has for the past decade.

Nortec Minerals’ Drilling Expands PGE and Gold Mineralization at LK Property in North Central Finland

Nortec Minerals (OTC Other: NMNZF; TSX-V: NVT) recently optioned the LK palladium-platinum-gold-copper-nickel project to Finore Mining Corp., which can earn an 80% interest by making payments of $10.5 million and spending $10 million over 3 years.  Nortec and Finore have released initial results from the Phase V drill program, highlights of which include:

• 44.0 metres @ 0.80g/t PGE+Au; 0.28% Cu; 0.19% Ni from 58m (Hole HAU11-002), including 13.0 metres @ 1.15g/t PGE+Au; 0.38% Cu; 0.27% Ni from 84m
• 5.0 metres @ 1.05g/t PGE+Au; 0.33% Cu; 0.24% Ni from 114m (Hole HAU11-004)

These drill results extend the known palladium-platinum-gold-copper-nickel (“PGE+Au-Cu-Ni”) mineralization on the Haukiaho Target (“Haukiaho”), situated in the southern part of the LK Project. Drilling began in November 2011 focusing on the central-western mineralization at Haukiaho, known as the Torkoaho Zone. To date, a total of 12 holes have been geologically and geotechnically logged with zones of potential mineralization selected for sampling and assaying.

Read More

Julian Phillips: Expect a Volatile December

JOHANNESBURG - Angela Merkel told the German Bundestag last week that in the absence of a deal on the Eurozone debt crisis, “Nobody should take for granted another fifty years of peace and prosperity in Europe: if the euro fails, Europe fails”.

Present situation

Prime Minister Papandreou may lose power by Friday, in which case no referendum will take place. If he gets the vote of confidence he wants there will be a Referendum in which so far the indications are that Greece will say no to the bailout by the E.U.

The deal has these key aspects:

• The recapitalization of the European banking system to the extent of €160 billion, to cope with the 50% writes down of Greece’s debt.
• 50% write down of Greece’s debt.
• The ‘expansion (through leverage) of the bailout fund to €1.4 trillion to be supported partly by the E.U.’s Asian trading partners, which if it gets off the ground will do so at the expense of the dollar.
• The funding of the bailout fund by the European Central Bank.