JP Morgan analyst Tyler Langton argues there’s support for current gold prices, as noted by Tip Ranks. In fact, he “states his belief that there is support for current prices, with gold and gold mines being seen as a hedge against ‘macro uncertainty.’ He believes that the main sources of support will be found in ‘real interest rates remaining lower for longer and CV-19 related stimulus measures continuing to expand central bank balance sheets.’”
In addition, gold remains a perfect hedge against the Federal Reserve’s current economic policy. Trillions could be about to hit the economy, and the central bank isn’t likely to budge on raising interest rates any time soon. That’s bullish for gold stocks, such as AngloGold Ashanti Limited (NYSE:AU), Barrick Gold Corp. (NYSE:GOLD)(TSX:ABX), Franco Nevada Corporation (NYSE:FNV), and Newmont Corporation (NYSE:NEM)(TSX:NGT).
It’s Also Bullish for Stevens Gold Nevada Inc. (CSE:SG)(OTC:STVGF)
Stevens Gold Nevada Inc. just announced it will dispatch a field crew to its optioned Millennium Gold Property located 4.8 km northeast of Lake Havasu City in Mojave County, western Arizona. High-grade but underexplored low sulphidation volcanic-hosted epithermal gold mineralization on the property will be the target of further prospecting and sampling.
The 3,408 acre Millennium Gold Property hosts multiple examples of untested gold mineralization exposed at surface. The only historic drill-tested gold zone at Westley Hill will be confirmed by the Company with its maiden drill program upon receipt of native plant and archeological survey reports required by the Arizona State Lands Department.
Additional gold mineralized zones on the property occur as pipe-like breccia zones and occur at structural intersections between faults and rhyolite dykes and domes in the interpreted upper level of a hydrothermal system. One of these gold zones termed “7-Gram Hill” is a west-striking breccia zone with historic assays of 7.05 grams per tonne gold over 8 feet. This zone and surrounding area will be the primary target of additional rock chip sampling and prospecting by the Stevens Gold prospecting crew. Assay results will be released as they are received.
The Company is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the project.
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