Gold Hits Record High Near $1,100

November 29, 2009

Gold quickly bounced back from a low near $ 1,025 last week to a record high of $ 1,095 yesterday, as the IMF reported on Tuesday that it sold 200 tons of gold to the India Reserve Bank almost 2 weeks ago. Today, Sri Lanka's Central Bank announced that it too has been steadily adding to its gold reserves.

Wesizwe (WSZWF) Takeover Talk Drives Investor Interest

Wesizwe Platinum, a young South African junior platinum producer has been at the heart of talks of an Impala Platinum takeover. Impala Platinum, the world's second largest platinum producer dropped a bid earlier this year for Mvelaphanda Platinum, citing poor economic conditions. Now that an economic recovery is expected, speculation has risen over Impala's attempts to acquire Wesizwe instead.

Exeter Resource (XRA) Discovers New Gold Zone

Today Exeter Resource released details of its ongoing drilling project at Cerro Moro, Argentina, where it discovered more high grade gold and silver. Drill holes included grades of up to 550 g/t au and 23,000 g/t ag West of the Escondida high-grade gold vein.

PC Gold (PCGLF) Hits Bonanza Grade Gold

PC Gold reported drill results on Monday indicating high-grade gold of up to 112.5 g/t. It's been less than 1 month since the company began its drilling program at its Pickle Crow Gold mine, a 7 square mile property in Northwestern Ontario.

US Mint Sales Hit All Time Highs

October gold and silver coin sales were at record highs. Most notably, sales of Silver Eagles neared 3 million last month, twice as many as in October 2008.