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Silver & Gold Seeker Report #42: Gold Bounces off Support, What Next?

Gold and Silver finally got some relief this week after roughly 2-months of grinding lower. The bounce off the 50% Fibonacci retracement for gold is encouraging, but that doesn't mean selling into year-end is over. There is always the chance of moving lower; time will tell. Silver's chart is looking better, but we aren't out of the woods yet. I expect gold to trade in a range through year-end. If we assume the rally started at $1,350/oz (in June 2019) or March 2020 ( approx. $1,480/oz.):

  • 38.20% and 50% retracement levels (Using $1,350 and $2,050) would equate to a bottom in the gold price of $1,782/oz. and $1,700/oz.
  • 38.20% and 50% retracement levels (Using $1,480 and $2,050) would equate to $1,832/oz. and $1,765/oz.

News this week was very light as we entered a period of lesser news-flow due to the holidays. This should continue until mid-January or so.

At, we've been building positions in two new companies and published company reports and appraisals for subscribers over the last two weeks. Subscribers on our free email list will be receiving coverage of a late-stage development company, ideally positioned for a re-rate as dictated by the Lassonde Curve, Valuation with production slated for 1H 2023. This will include a detailed company report, valuation, and coverage of developments over the next couple of months, which should include several catalysts. Further, we will give those on the free email list, our favorite companies nearing construction and production, times just before a market re-rate.

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Blackrock Gold: Announced additional high-grade gold and silver intercepts on its Tonopah West project in the Walker Lane Trend in Western Nevada. Highlights include:

  • 3m @ 10.5 g/t Au and 1,188 g/t Ag
  • 12.2m @ 1.51 g/t Au and 146 g/t Ag
  • 4.5m @ 1.53 g/t Au and 131/6 g/t Ag
  • 1.5m @ 1.96 g/t Au and 164 g/t Ag
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