Bullion Blog

Being leveraged during a liquidity squeeze is like playing with matches in a gunpowder factory — not a very wise practice. As the fateful month of October was drawing to a close, we learned the hard way how leverage creeps into the markets led by levels of avarice that commonly arise during periods of extreme

Newcore Gold Ltd (NCAU:TSXV; NCAUF:OTCQX) has intersected high-grade gold mineralization below the limits of the pits constraining current mineral reserves at the Nyam gold deposit within its Enchi gold project in Ghana. Key Investor Takeaways Newcore continues to deliver high-grade intercepts below current reserve pits at Nyam, highlighting potential for resource growth and mine

Key Investor Takeaways Three Near-Term Operational Milestones: Sierra Madre Gold and Silver Ltd. is advancing higher-grade production at San Raphael, commissioning a new ball mill in November, and increasing processing throughput at its La Guitarra mine in Mexico. Processing Throughput Climbs More Than 40%: In September, La Guitarra reached up to a steady

Key Investor Takeaways Contango Silver and Gold Inc. drilled 56,492 meters at Kitsault this season, about 40% more than planned and on budget, with assays due over the next two to three months. The 2026 drilling will feed a Kitsault resource update in the first half of 2027 and an Initial

The November 3, 2026, U.S. midterm elections are approaching as gold investors assess the potential implications of changes in congressional control. The outcome could influence the administration’s legislative agenda, spending plans and approach to geopolitical conflicts, with possible consequences for gold prices. Key Takeaways The November 3 U.S. midterm elections could influence gold through

Key Investor Takeaways British Columbia’s Conservatives won the October 24 election and promised to cut red tape, and the province’s reconsideration of Seabridge’s KSM project will now play out under the new government. KSM’s 2014 environmental certificate depends on the province’s finding that the project was substantially started by July 2024.

<p><em>&ldquo;Prices are information wrapped inside an incentive.&rdquo; ~ <a href="https://learn.mru.org/lessons/information-problem-economics-hayek&quot; target="_blank" rel="noopener">Alex Tabarrok</a>, Economics PhD</em></p> <p>Monetary systems convey information about priorities, scarcity, preferences, and trust among individuals and societies.</p> <p>Money is more than a generally accepted medium of exchange. It serves not merely as the primary payment asset for any particular community, but as an

<p>Gold and silver are staging a welcome rebound this morning after another brutal week for precious metals investors.</p> <p>Gold has recovered to around <a href="https://www.moneymetals.com/gold-price&quot;>$3,960 an ounce</a>, while silver has climbed <a href="https://www.moneymetals.com/silver-price&quot;>back above $51</a> after plunging nearly 9% last week.</p> <div x-data=" item_id: undefined, view: null " x-html="view || 'Product-Random-Featured'" x-init="view = await (await

<p>Gold is acting weird.&nbsp;</p> <p>It sold off steeply Friday, despite falling bond yields and a modestly weaker dollar.</p> <p>Paradoxically, the mainstream continues to blame weakness in the gold market on inflation worries.</p> <p>So, investors are dumping their <a href="https://www.moneymetals.com/news/2024/06/18/golds-role-as-an-inflation-hedge-in-the-21st-century-003263&quot;>inflation hedge</a>.</p> <p>As I said, gold is acting weird.</p> <p>Or maybe it&rsquo;s more accurate to say investors

<p><span style="font-weight: 400;">Money Metals podcast host Mike Maharrey interviewed </span><a href="https://tinyurl.com/552ta2s6&quot; target="_blank" rel="noopener"><span style="font-weight: 400;">Steve Penny</span></a><span style="font-weight: 400;">, founder of </span><a href="http://silverchartist.com" target="_blank" rel="noopener"><span style="font-weight: 400;">SilverChartist.com</span></a><span style="font-weight: 400;">, about precious metals investing, silver&rsquo;s sharp correction, gold&rsquo;s outlook, and strategies for navigating volatile markets. Penny described a plan that combines physical metals, mining stocks, and options

Key Investor Takeaways StrikePoint Gold Inc. has started a Phase 1 program of about 15,000 meters at its Northumberland Gold Project in Nevada, meeting its goal of drilling within a month of buying the project from Newmont. The fully permitted program on private land is designed to expand and infill the

Key Investor Takeaways US$40 Million U.S. Army Award: Perpetua Resources Corp. received an award of up to US$40 million to advance domestic tungsten exploration at its Stibnite Gold Project in Idaho. High-Grade Tungsten Discoveries: Recent drilling at Hangar Flats returned 9.8 meters grading 4.6% tungsten and 8.3% antimony, while exploration at Yellow Pine

Key Investor Takeaways Omineca has regained full control of its flagship Wingdam underground paleoplacer gold project in British Columbia after the bankruptcy trustee for its former joint venture partner, D&L Mining Corp., gave up D&L’s interest. Omineca has taken over management of the mine site and engaged PSI Mining to take

Alex Metals Corp. (ALX:TSXV; ALXMF:OTCQB) has reported its first drill results from the KSO VMS project in Southeast Alaska, intersecting multiple intervals of copper-gold-rich volcanogenic massive sulphide (VMS) mineralization near surface at the Khayyam target and announcing the discovery of the new Triple G VMS target 2 km (kilometers) to the west. Key Investor Takeaways

Juggernaut Exploration Ltd. (JUGR:TSX.V) has confirmed extensive high-grade gold mineralization over a 550 m (meters) by 500 m area at the Goldswarm Discovery on its 100% controlled Big One property in British Columbia’s Golden Triangle, with surface samples assaying up to 239.02 grams per tonne gold (g/t Au). The zone remains open and is now

<p>Welcome to this week&rsquo;s Market Wrap Podcast, I&rsquo;m Mike Gleason.</p> <p>Coming up don&rsquo;t miss a tremendous interview with first-time guest Steve Penny of <a href="https://silverchartist.com/&quot;>SilverChartist.com</a>. Steve shares his interesting story and tells us about how his experiences as an Air Force rescue pilot and how the events of 9/11 ultimately laid the ground work for

<p>A lady exchanged C$90,000 in gold and cash for some noodles and bottled water.</p> <p>That doesn&rsquo;t sound like a very good deal, does it?</p> <p>In fact, she was a victim of a scam.</p> <div x-data=" item_id: undefined, view: null " x-html="view || 'Product-Random-Best'" x-init="view = await (await fetch('/shortcodes/product/random/best?category=all')).text()">!!–Product-Random-Best-All–!!</div> <p>It seems like everywhere you turn, somebody

<p>The <a href="https://www.moneymetals.com/news/2024/03/25/what-is-the-gold-silver-ratio-why-should-we-pay-attention-to-it-003075&quot;>gold-silver ratio</a> is expanding again. This could signal that silver is setting up to resume its bull run. However, plenty of headwinds continue to buffet the market.</p> <h2>What Is the Gold-Silver Ratio?</h2> <div x-data=" item_id: undefined, view: null " x-html="view || 'Product-Random-New'" x-init="view = await (await fetch('/shortcodes/product/random/new?category=all')).text()">!!–Product-Random-New-All–!!</div> <p>The gold-silver ratio shows how many

Key Investor Takeaways Algo Grande’s step-out hole AG-CG-PH2-003 discovered a new, gold-rich skarn at its Adelita project in Sonora, Mexico, which the company has named the Margarita Skarn. The hole returned a combined 139.81 meters of 1.3% CuEq from three separate intervals, including 87.98 meters of 1.6% CuEq at the Cerro

Algo Grande Copper Corp.’s (ALGR:TSXV; ALGRF:OTCPK; KM00:FSE) newest intercept at Adelita shows that the project continues to deliver strong copper values while revealing a previously unknown gold-rich zone that fits the structural model I have been watching. The company started its fully funded Phase II drill program of 7,200 meters back in June 2026 and

<p><span style="font-weight: 400;">In this episode of the </span><i><span style="font-weight: 400;">Money Metals Midweek Memo</span></i><span style="font-weight: 400;">, host Mike Maharrey considers how artificial intelligence could affect trust, cybersecurity, and investors&rsquo; access to their money. He also discusses silver&rsquo;s sharp correction, the long history of gold jewelry, and ways listeners might use precious metals as a physical store

<p>There's plenty of selling in the gold market right now.</p> <p>Rising yields and expectations of further Federal Reserve rate hikes have put significant pressure on gold, driving the price down to around $4,000 per ounce.</p> <p>However, despite sustained headwinds over the last several months, the yellow metal has held that $4,000 support.</p> <p>That means somebody

<p>The Fed hit the pause button at its October meeting despite <a href="https://www.moneymetals.com/news/2026/10/15/beyond-the-cpi-the-complete-inflation-story-september-2026-005295&quot;>elevated inflation</a> and gave little indication about what comes next.</p> <p>Federal Reserve Chairman Kevin Warsh also announced that the Fed will hold fewer rate-setting meetings in the future.</p> <h2>Fed Does Little, Says Less</h2> <div x-data=" item_id: undefined, view: null " x-html="view || 'Product-Random-Best'"

Key Investor Takeaways Eminent Gold Corporation is preparing its first drilling program at the Eden target within its 100%-owned Hot Springs Range Project in Humboldt County, Nevada. Eden contains a three-kilometer gold-in-soil anomaly approximately 10 kilometers north of the Otis discovery, where initial drilling returned 9.2 meters grading 3.2 g/t gold. The

Gold traded at approximately US$4,009.13 per ounce on October 27, 2026, down US$7.59, or 0.19%, on the day and 2.52% over the preceding month, according to Trading Economics. Prices eased toward US$4,000 as the U.S. dollar strengthened ahead of central bank policy decisions. Investors also monitored inflation risks associated with elevated energy prices, the Federal

Key Investor Takeaways Harvest Gold is using glacial till sampling to search for gold hidden under the extensive overburden that covers much of its Urban Barry property in Québec. A fall 2025 till survey of 137 samples recovered 1,175 gold grains and outlined a dispersal train about 2.5 kilometers long and

Key Investor Takeaways GoldCoast Resource Corp. identified 22 high-priority gold exploration targets after interpreting an airborne magnetic survey over its entire 10,000-square-kilometer license on Ghana’s shallow continental shelf. The survey mapped magnetic heavy minerals that typically accompany placer gold. It did not detect gold directly. The company defined three river-fed

<p>Some people in tech circles are calling it Black October.</p> <p>AI has reached the point where it can blast through cybersecurity defenses that were once considered unbreachable.</p> <p>That means virtually anything digital can be hacked &ndash; including your bank account.</p> <p>But no matter how sophisticated your AI bot, you can't hack gold or silver.&nbsp;</p> <p>In

<p>On August 15, 1971, Richard Nixon interrupted Sunday-night television to announce <a href="https://www.moneymetals.com/news/2024/06/28/what-in-the-world-happened-in-1971-003286&quot;>the New Economic Policy</a>. With the Vietnam War winding down, Nixon argued that the economy required federal action to deliver what he called &ldquo;a new prosperity without war.&rdquo; Nixon declared that night, &ldquo;We must create more and better jobs; we must stop the

Key Investor Takeaways Copper One Resources Corp. has commenced an expanded Phase 2 diamond drilling program of up to 10,000 feet (3,048 meters) at its flagship Majuba Hill Copper-Silver-Gold Project in Nevada. The 2026 drilling campaign could total approximately 14,015 feet, combining 4,015 feet completed during Phase 1 with up to 10,000 additional

North Atlantic Critical Metals (NACM:TSXV) has announced that common shares will commence trading on the TSX Venture Exchange (TSXV) today, October 27, 2026, under the symbol “NACM.” The listing provides a public-market platform for the Canadian mineral exploration company as it advances its flagship Pokiok Property, an 18.8-square-kilometer property consisting of 89 contiguous mineral claims

Key Investor Takeaways Galway Metals Inc. expects to complete its first Preliminary Economic Assessment (PEA) for the Clarence Stream gold project in Q1 2027. Clarence Stream contains 1.416 million ounces of Indicated gold resources and 1.288 million ounces of Inferred gold resources, totaling approximately 2.7 million ounces. The PEA will examine open-pit

Star Gold Corp. (SRGZ:OTCQB) announced that it has secured a long-term lease covering 2,471 acre-feet of water rights for its flagship Longstreet Gold-Silver Project in Nye County, Nevada. The company said the agreement clears a key milestone for detailed design engineering and permitting by establishing a water supply intended to support planned operations and potential

Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) reported results from nine reverse circulation (RC) drill holes at its Tombstone Property in southeastern Arizona, extending the known oxide gold-silver mineralized footprint approximately 190 m (meters) west of the North Extension target. All nine holes intersected mineralization, including a 115.8 m interval grading 0.67 grams per tonne gold equivalent

Key Investor Takeaways Algo Grande Copper Corp. has hired Addison Mining Services to update the NI 43-101 technical report on its 100%-owned Adelita copper project in Sonora, Mexico. The current report predates the company’s ownership. The update will capture Phase I and ongoing Phase II drilling, prospecting, UAV magnetics, mapping, the

<p><span>Five countries have opened gold-refining facilities as African gold producers seek to keep more of their wealth at home.</span></p> <p>As it stands, large amounts of raw gold ore leave Africa for refining. The gold later returns to the continent as imports in the form of coins, bars, and jewelry.</p> <p>Zambia is the latest country to

<p>The midterm elections are fast approaching, and Democrats are widely expected to make significant gains.</p> <p>How might this impact the gold market?</p> <p>If history is any indication, it will all depend on how the shift impacts policy.</p> <p>Prediction markets expect the Democrats to take both the House and the Senate in the midterms. This would

Orogen Royalties Inc. (OGN:TSXV; OGNNF:OTCQX) has sold the Slaughterhouse iron oxide-copper-gold (IOCG) project in Wyoming to Seabridge Gold Inc. (SEA:TSX; SA:NYSE), who will pay US$300,000 on closing with additional milestone payments up to US$2.55 million. Orogen will retain a 2.5% royalty on the project, subject to a 0.5% buydown, and smaller royalties on regional land.

StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) is a Vancouver-based gold explorer taking transformational steps to build a concentrated portfolio in Nevada’s Walker Lane, which the Fraser Institute rates as the world’s premier gold jurisdiction. With BlackRock, Inc. (BLK:NYSE) as a strong shareholder, the company’s most recent announcements mark a significant increase in scale and conviction. On

Goldstorm Metals Corp. (GSTM:TSXV; GSTMF:OTCMKTS; B2U:FSE) has reported gold-silver mineralization over a 407.55 m (meter) drilled interval at its 100%-owned Crown property in British Columbia’s Golden Triangle. The October 21, 2026, results mark the first assays from a seven-hole drill program testing the Copernicus gold-silver-copper trend, located south of Newmont Corp.’s (NEM:NYSE; NEM:ASX; NEM:PNGX) Brucejack mine

As the famous Yankee catcher Yogi Berra once said, “It’s déjà vu all over again.” Thirty-nine years ago, I was a young securities salesman toiling in the London branch of the venerable old investment house, McLeod Young Weir Ltd. (that eventually merged in 1988 with the Bank of Nova Scotia to become ScotiaMcLeod). It was

<p>Some people in tech circles are calling it Black October.</p> <p>AI has reached the point where it can blast through cybersecurity defenses that were once considered unbreachable.</p> <p>That means virtually anything digital can be hacked &ndash; including your bank account.</p> <p>Do you know what can&rsquo;t be hacked?</p> <p>Physical gold and silver.</p> <h2>AI on the Loose?</h2>

<p>Gold and silver are attempting to regain their footing after another brutal week. Gold plunged roughly 4%, finishing just above $4,000 an ounce in its sharpest weekly decline since June.</p> <div x-data=" item_id: undefined, view: null " x-html="view || 'Product-Random-Featured'" x-init="view = await (await fetch('/shortcodes/product/random/featured?category=2')).text()">!!–Product-Random-Featured-2–!!</div> <p>Silver fell nearly 6% to around $54.50 &mdash; its lowest

<p>Russia is demonstrating that gold's role as money has not diminished. It remains a critical monetary reserve asset that can be utilized when conventional revenue and financing are restricted.</p> <p>Russia drew down its gold holdings by another 6.2 tonnes in September. That dropped the country&rsquo;s gold reserves to 2,264 tonnes, the lowest level since 2019.</p>

<p>It is becoming more common for those on the right to be skeptical or downright hostile to free markets. Since President Trump entered the political scene over a decade ago, conservatives have increasingly abandoned free market principles.&nbsp;</p> <p>The same is true for the religious right. Vice President JD Vance, a Catholic and presumptive successor to

<p><span style="font-weight: 400;">Gold and silver may face more near-term pressure, but precious metals analyst Przemyslaw K. Radomski, CFA, does not believe the long-term bull market is over.&nbsp;</span></p> <p><span style="font-weight: 400;">In an interview with Money Metals podcast host Mike Maharrey, Radomski discussed technical warning signs, rising interest rates, the Federal Reserve&rsquo;s policy dilemma, and why gold

Key Investor Takeaways Geophysical Survey Resumes at Las Tinajas: Gelum Resources Ltd. resumed its 2,600-hectare geophysical survey in Chile’s Maricunga gold belt on October 20, 2026, following weather-related delays. Completion is expected in approximately three weeks. Copper-Gold Drill Targets Being Defined: Magnetotelluric and vector induced polarization surveys are mapping resistivity to depths of

Key Investor Takeaways Allied Critical Metals’ Borralha tungsten project in northern Portugal was named a Strategic Project under the EU’s Critical Raw Materials Act. The company says it is the only tungsten extraction project among the 46 that the European Commission selected on October 9. The designation brings streamlined permitting, with

If you’re a top-down macro trader/investor like I am, you know there are good times to invest in a certain sector and bad times to do so. That’s why we go “top-down” from the macro to the sectors, rather than “bottom-up” buying of favored stocks/sectors and hoping the macro will be permissive. Often, it will

Key Investor Takeaways Krait Critical Minerals Corp. signed an option agreement to acquire a 100% interest in a Nevada antimony property covering approximately 354 acres across 17 contiguous mining claims in Humboldt County. Historical antimony production included ore grading as high as 54% antimony, with documented mining activity dating from the 1920s through