GOA 0.00% 0.2¢ gold anomaly limited

price of gold hits $1594.90 per ounce!

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    Hey Guys

    As Mr Macnab continues to drill and increase Gold Anomaly's gold resources at Crater Mountain, and we get closer to the Sao Chico gold mine going live, providing Mr Starr with the cashflow to explore both in PNG and Brazil, gold has almost broken through $1600 per ounce!

    As the price of gold rises, it increases the Enterprise Value of Gold Anomaly the more gold they find!

    Cheers Nectar

    Golds closes at record high

    Tatyana Shumsky
    From: Dow Jones Newswires
    July 16, 2011 9:36AM



    GOLD capped a nine-day winning streak with a record settlement, while silver made steady gains, as bleaker US consumer sentiment and government debt concerns in Europe and the US roused investor demand for a safe haven.

    The most actively traded contract, for August delivery, gained US80 cents, or 0.1 per cent, to settle at a record $US1590.10 a troy ounce on the Comex division of the New York Mercantile Exchange. The contract hit an intraday record of $US1594.90 in the previous session and ended the week up 3 per cent.

    Gold's high prices may impede further gains, however, and futures may retreat before heading higher, said Charles Nedoss, senior market strategist with Olympus Futures.

    "It's hard to attract new buying with gold this high, but with the strength we've seen I don't think anyone wants to be short either," Mr Nedoss said.

    Gold may decline to test key technical levels like the 20-day moving average, at $US1534.30, before resuming an upward trajectory, he added.

    Americans' outlook on the economy soured in mid-July, according to a preliminary reading of the Reuters/University of Michigan index of consumer sentiment. The index fell to 63.8 from 71.5 a month earlier, highlighting the deterioration in consumer attitudes.

    Gold futures shook off earlier losses on the data, as the metal tends to keep its value better than other assets during times of rising uncertainty.

    Better-than-expected European bank stress test results failed to undermine gold's rally. Only eight banks failed the latest test, indicating Europe's financial system is better positioned to withstand a shock than previously thought.

    Market attention is also focused on Washington as the August 2 deadline for reaching a deal on raising the $US14.3 trillion borrowing limit draws closer. The White House and Republican Party leadership remain at an impasse as both sides struggle to make concessions like spending cuts and higher taxes.

    Silver futures have followed gold ascent in recent days, gaining 7 per cent in a week.

    The most actively traded contract, for September delivery, rose US37.7 cents, or 1 per cent, to settle at $US39.071 a troy ounce.

    Silver continues to recover from a near 30 per cent correction suffered at the start of May, when a series of collateral requirement hikes by Comex operator CME Group quashed speculative interest in the contract.

    "Silver could outperform gold once more towards the end of summer and we would expect the gold/silver ratio to start declining once more as a result, although not returning to April's record lows," write analysts at BNP Paribas.
 
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