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American Creek $AMK.ca Reports That JV Partner Tudor Gold $TUD.ca Has Produced Numerous Intercepts of High Grade #Gold and #Silver in Preliminary Drilling on New HC Zone at Treaty Creek

Posted by AGORACOM-JC at 8:26 AM on Friday, September 15th, 2017

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  • Tudor Gold Corp. has encountered numerous high grade gold/silver intercepts in preliminary drilling at the new HC zone at the Treaty Creek Project
  • Immediately north of, and in the same hydrothermal system as, Seabridge Gold’s KSM project and Pretivm’s Brucejack project
  • Hosts a precious-metal-rich, polymetallic, volcanogenic massive sulphide and sulphosalt (VHMS) mineralized system

American Creek Resources Ltd. (TSX-V:AMK) (“American Creek”) is pleased to announce that JV partner and operator Tudor Gold Corp. (“Tudor”) has encountered numerous high grade gold/silver intercepts in preliminary drilling at the new HC zone at the Treaty Creek Project located in BC’s “Golden Triangle” immediately north of, and in the same hydrothermal system as, Seabridge Gold’s KSM project and Pretivm’s Brucejack project.

The new HC zone shares geological characteristics similar and unique to the famous Eskay Creek deposit located approximately 12 km to the northwest.

Tudor reported the following:

“The HC mineralized zone of the HC deposit within the GR2 claim block on Tudor Gold Corp.’s 60-per-cent-owned Treaty Creek project, located in the Golden Triangle in British Columbia, hosts a precious-metal-rich, polymetallic, volcanogenic massive sulphide and sulphosalt (VHMS) mineralized system.

Walter Storm, president and chief executive officer, stated: “We are very pleased with the results so far. We were attracted to the Treaty Creek project by the clear potential for extensive mineralized zones on our claims, and the results from the HC zone within the GR2 claim block have exceeded our expectations. We look forward to the completion of a resource estimate on the HC zone and a resource estimate on the Copper Belle project, which is also well under way.”

The HC zone appears to be a complete precious-metal-rich VHMS deposit in which the feeder vein system, the vent structures and the sulphides in a restricted sedimentary basin had been intersected. All three zones of the HC deposit carry elevated values of gold. The feeder vein system also carries elevated silver and base metal (lead, zinc and copper) content.

The HC zone shows elevated concentrations of gold, silver and antimony sulphosalts hosted between a pervasively sericite-pyrite-chlorite altered volcaniclastic sequence (bimodal mafic-felsic affinity) and restricted sedimentary basins where mudstones host sulphide mineralization underlying stockwork base metal and precious metal veins. These characteristics are similar and unique to the nearby Eskay Creek deposit. The highest-grade and most continuous precious metal mineralization within the HC zone occurs as an apparent stratabound zone at the contact of the footwall mudstone and the hydrothermally altered volcaniclastic sequence. This is interpreted as being the product of a mineralizing growth-graben fault, proximal to felsic flows, ash tuffs and felsic conglomerates.

During the continuing 2017 season, Tudor Gold has drilled 13 holes in the vicinity of and to the north of the nine holes drilled in 2007 and 11 holes in 2009 by American Creek Resources. Together, these 33 holes have produced consistent geology demonstrating the continuity of the feeder vein system, the vent structure and the sedimentary basin within the area bounded by these holes (assays received up to HC-17-07; awaiting assays on all remaining 2017 holes).

The holes drilled by Tudor Gold and American Creek Resources cover approximately 400 metres along strike and 450 metres down dip at 50-metre space increments in the direction of the main mineralized structure. Historical surface sampling carried out by previous operators to both the north and south of the HC zone indicates that the main mineralized structure extends at least for 3,000 metres along strike. The entire 3,000-metre mineralized structure that hosts the HC zone remains open to the north, south beyond the existing drill holes and down dip.

ASSAY RESULTS:

1. The Feeder Vein System: It is comprised of discordant veins hosted mainly in pervasively sericite-pyrite-chlorite altered volcaniclastic sequence. Two types of veins are recognized: silver dominant Mn-rich carbonates and sulphides (semi-massive yellow to light brown zoned sphalerite, galena, pyrite and minor chalcopyrite can add to >50% of the veins) and gold dominant chalcedonic quartz veins. Textures include those more typical of the epithermal suite (banded, crustiform, breccia/vein).

Table 1. Assay results feeder vein system

Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
HC-17-01 170.35 170.8 0.45 6.4 29.1
HC-17-02 256.65 257.45 0.8 4.53 55.1
and 258.3 259 0.7 6.16 59.4
HC-17-03 395.35 397.3 1.95 10.97
including 395.35 395.9 0.55 14.30
and 395.9 396.8 0.9 3.48 16.9
and 396.8 397.3 0.5 20.80 548
and 435.3 435.8 0.5 33.80
HC-17-04 261.4 261.95 0.55 2.65 234
and 283.1 283.55 0.75 0.21 359
and 283.85 284.9 1.05 0.79 316
HC-17-05 203.05 203.95 0.9 11 13.8
HC-17-07 143.45 147.2 3.75 6.22
including 143.45 144 0.55 5.13 30.6
and 145.9 147.2 1.3 13.3 87

True thickness of the different mineralized intervals still to be determined.

2. The Vent Structure: It is comprised of silica flooded and altered mudstone and volcanic conglomerates along with breccias and semi-massive sulphide replacements. Several stages of silica can be recognized cementing and replacing successive events of brecciation. Silica alteration occurs as silicification and chalcedonic silica, usually gray to bluish in color, obliterating previous textures. Pyrite and Sb-sulphosalts are the dominant sulphides as veinlets, stringers and semi-massive replacements. Stibnite, galena, sphalerite and arsenopyrite are also common in veinlets and disseminations.

Table 2. Assay results vent system

Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
HC-17-01 247.3 247.8 0.5 2.58
and 247.8 248.35 0.55 5.52
HC-17-04 345.4 345.85 0.45 2.03
and 345.85 346.3 0.45 11.1
HC-17-05 203.05 203.95 0.9 11

True thickness of the different mineralized intervals still to be determined.

3. The Sulphides in Sedimentary Basins: Fine grained pyrite and Sb-sulphosalts have been identified as finely laminated sedimentary beds and patchy pyrite/quartz replacements within mudstones/siltstones in the proximity of the venting structures intersected in core, particularly around holes HC-17-01, 04, 05, 08, 10, 11 and 12 (as per visual inspection of the drill core). The mineralization appears to be hosted in the immediate contact of the underlying footwall mudstone unit and the upper altered volcaniclastic sequence.

Table 3. Assay results sulphides in mudstone host.

Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
HC-17-01 249.35 250.35 1 4.7
and 250.35 251.35 1 10.2
and 251.35 252.35 1 4.59
and 252.35 252.85 0.5 14.6
and 252.85 253.75 0.9 12.6
and 253.75 254.45 0.7 2.13
HC-17-04 346.6 346.95 0.35 5.17
and 346.95 347.35 0.4 8.91
and 347.35 348 0.65 4.42
and 348 348.6 0.6 16.5
and 348.6 349.3 0.7 14.4
and 349.3 350 0.7 5.41
HC-17-05 203.95 205.5 1.55 0.807
and 205.5 207 1.5 0.787
and 207 208.55 1.55 1.98

True thickness of the different mineralized intervals still to be determined.

Darren Blaney, President and CEO of American Creek stated: “This new HC zone northern extension of the GR2 is a bonus that we weren’t expecting. We are very encouraged by the remarkably similar characteristics of the HC to the Eskay Creek deposit located to the northwest of us. Although still very preliminary, the drill results thus far have shown great promise for the future discovery potential of this portion of the extensive Treaty Creek property. Three drills are presently turning on the property with the objective being to define a gold resource on both the Copper Belle and GR2 zones.”

The Qualified Person for the 2017 Treaty Creek project field season, the geological content of this news release, and for the purposes of National Instrument 43-101 is Raul Sanabria, MSc, P.Geo, EurGeol.

A summary of the Treaty Creek project can be viewed here: http://www.americancreek.com/images/pdf/Treaty_Creek_Joint_Venture_Project.pdf

The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (fully carried until a production notice is given).

About American Creek

American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three “Golden Triangle” gold/silver properties; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor as well as the recently acquired 100% owned past producing Dunwell Mine group of properties. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, Red Tusk and Glitter King.

For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: info@americancreek.com. Information relating to the Corporation is available on its website at www.americancreek.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

American Creek Resources Ltd.
Kelvin Burton, 403-752-4040
info@americancreek.com

Did you know American Creek’s $AMK.ca Treaty Creek is adjacent to and part of the same system as Seabridge $SEA.ca $SA KSM Project?

Posted by AGORACOM-JC at 3:33 PM on Thursday, September 14th, 2017

AMK: TSX-V, OTCBB: ACKRF

RECENT HIGHLIGHTS

  • Additional gold discovery of 5.1m of 9.57 g/t gold from 249.35m to 254.45m Read More
  • Tudor Has Discovered a New Gold Zone at Treaty Creek: 110 M of 0.909 g/t Gold, Upper 316 M of Hole Yet to Be Assayed
  • Specimens from the Electrum property average 27,092 gm/tonne silver and 248 gm/tonne gold. Read More
  • Tudor has now completed the previously announced Magnetotelluric survey and has commenced drilling Read More

View Presentation

 

Seabridge Gold $SA $SEA.ca Just Announced Excellent Results Next to American Creek’s $AMK.ca Treaty Creek JV Project in B.C.’s Golden Triangle #Gold

Posted by AGORACOM-JC at 11:14 AM on Thursday, September 7th, 2017

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  • B.C.’s Golden Triangle proven to host one of the greatest concentrations of metal value on the planet Wwith over 83.7million ounces gold, 627.8 million ounces silver and 38.8 billion pounds copper so far (all categories)
  • That’s just in its southern half which also hosts the Brucejack Mine (Pretivm) which started its production of 8.1 million ounces @ 16.1g/t

B.C.’s Golden Triangle is fast becoming one the richest areas of discovery in the world. The Crown Jewel of the Golden Triangle is a hydrothermal system (one of the seven largest in the world) that has proven to host one of the greatest concentrations of metal value on the planet with over 83.7million ounces gold, 627.8 million ounces silver and 38.8 billion pounds copper so far (all categories). That’s just in its southern half which also hosts the Brucejack Mine (Pretivm) which started its production of 8.1 million ounces @ 16.1g/t in May 2017 and the KSM (Seabridge) which contains the largest undeveloped gold deposit in the world by reserves – 38.8 million ounces gold with 10.2 billion pounds of copper.

American Creek’s Treaty Creek property covers the northern half of the hydrothermal system; and the geology,geophysics, and exploration results all indicate the potential to host a continuation of the mineralization already proven the southern half.

Yesterday Seabridge Gold announced the first round of diamond drill assays from their 2017 KSM exploration which were the best drill results they’ve had yet. How do these results have the potential to not only be a game-changer for the KSM, but for the extensive drill program currently on the Treaty Creek property?

CLICK HERE TO FIND OUT.

Note: This is not a press release but discusses the implications of the Sept 6, 2017 press release of Seabridge Gold Ltd.

Invested in Seabridge Gold $SEA.ca $SA ? Check out American Creek $AMK.ca

Posted by AGORACOM-JC at 10:27 AM on Wednesday, August 30th, 2017

AMK: TSX-V, OTCBB: ACKRF

HIGHLIGHTS

  • Additional gold discovery of 5.1m of 9.57 g/t gold from 249.35m to 254.45m Read More
  • Tudor Has Discovered a New Gold Zone at Treaty Creek: 110 M of 0.909 g/t Gold, Upper 316 M of Hole Yet to Be Assayed
  • Specimens from the Electrum property average 27,092 gm/tonne silver and 248 gm/tonne gold. Read More

View Our Presentation

Are you an Investor in #Garibaldi Resources $GGI.ca You should also discover American Creek $AMK.ca #Gold #Eskay

Posted by Er at 3:14 PM on Monday, August 21st, 2017

AMK: TSX-V, OTCBB: ACKRF

Why American Creek Resources?

  • Located in Eskay Mining Camp – Neighbouring Seabridge Gold, Eskay Mining Corp. Garbibaldi Resources and Pretium Resources
  • Additional gold discovery of 5.1m of 9.57 g/t gold from 249.35m to 254.45m Read More
  • Tudor Has Discovered a New Gold Zone at Treaty Creek: 110 M of 0.909 g/t Gold, Upper 316 M of Hole Yet to Be Assayed
  • Specimens from the Electrum property average 27,092 gm/tonne silver and 248 gm/tonne gold. Read More
  • Tudor has now completed the previously announced Magnetotelluric survey and has commenced drilling Read More

Gold retakes $1,300 level for first time in 9 months $AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 11:50 AM on Friday, August 18th, 2017

  • Gold futures on Friday were trading above $1,300 for the first time in 2017 and were on track for their third straight daily gain, as precious metals drew haven demand
  • Sparked by a selloff in a global equities, a terrorist attack in Barcelona and concerns about President Donald Trump’s pro-business agenda

Gold for December delivery GCZ7, +0.60%  gained $8.60, or 0.7%, at $1,301.90 an ounce, marking the highest level for a most-active contract since Nov. 4, according to FactSet data. The yellow metal also is on pace for a weekly gain of about 0.5% based on last Friday’s closing level.

Meanwhile, September silver SIU7, +0.25%  also rose, picking up 12 cents, or 0.7%, at $17.170 an ounce, on track for a weekly gain of about 0.6% and its highest closing level since around June.

A flight to assets perceived as safe has been underpinned by Thursday’s selloff in equities, highlighted by the worst downdraft for the Dow Jones Industrial Average DJIA, -0.28% and S&P 500 index SPX, -0.16%  since May 17.

Selling accelerated on Thursday, and threatened to continue to undercut sentiment on Friday, after a van plowed into crowds in one of Barcelona’s tourist venues, killing at least 13 people and injuring scores. Islamic State has claimed responsibility for the terror attack.

So-called risk assets, like stocks, had been riding higher drawing concerns that equities have become too richly priced making them vulnerable to a sharp slide after a run of repeated records and an erosion of confidence in Trump’s ability to enact policies that would help to boost the U.S. economy.

Markets were roiled Wednesday by unfounded rumors that presidential economic adviser Gary Cohn, a former Goldman Sachs executive, was set to resign his post as White House economic adviser in response to the president’s reaction to a white-supremacist rally that left one woman, Heather Heyer, dead. Trump’s response to the rally has caused a furor among business leaders.

That political turmoil has thrown into question Trump’s ability to follow through on campaign promises, including pledges on deregulation, tax cuts and a boost to infrastructure spending that had helped propel risk assets higher and gold lower.

However, mounting headwinds in the stock market have provided a path for gold and Treasury notes to climb higher.

The 10-year Treasury note TMUBMUSD10Y, -0.60%  was recently yielding 2.19%, compared with about 2.24% at the start of the week. Bond prices move inversely to yields.

Lower bond yields can help to support buying of precious metals, which don’t offer a yield.

Weakness in the U.S. dollar, buffeted by the trove of risk factors, including concerns that the Federal Reserve will be hesitant to lift interest rates further this year, also has helped to lift gold’s price. The ICE U.S. Dollar Index DXY, -0.24% which measures the buck against six rival currencies, was off 0.1% and down on the day, although it has climbed 0.5% this week.

A softer dollar makes purchasing assets priced in the currency more attractive to buyers using weaker monetary units.

In exchange-traded funds, SPDR Gold Shares GLD, +0.45%  was up 0.5%, the miner-focused VanEck Vectors Gold Miners ETF GDX, +1.24% gained 1% and iShares Silver Trust SLV, +0.25%  was trading 0.7% higher.

Source: http://www.marketwatch.com/story/gold-retakes-1300-level-for-first-time-in-9-months-2017-08-18?siteid=

Far East Tensions Cause Gold Prices to Perk, GREAT News for…$AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 12:34 PM on Friday, August 11th, 2017
  • Gold soared to two-month highs on Friday, as investors of all stripes sought refuge from the uncertainty of escalating tensions between North Korea and the United States

U.S President Donald Trump warned North Korea again on Thursday not to strike Guam or U.S. allies, saying his earlier threat to unleash “fire and fury” on Pyongyang if Kim Jong-un launched an attack may not have been tough enough.

Spot gold was up 0.3% at $1,290.36 U.S. per ounce, set for its biggest weekly gains since April. It earlier hit its highest since June 8 at $1,288.97 U.S. an ounce.

Geopolitical risks can improve demand for assets considered safe-haven investments such as gold.

Silver added 0.4% to $17.15 U.S. per ounce after hitting $17.24, its highest since June 14, in the previous session. It was on course for an over 5% weekly rise, the highest such gain since July 2016.

Platinum climbed 1.2% to $987.70 U.S. per ounce after touching $984.60 U.S. during the session, its highest since April 18. It was up about 2% for the week so far.

Palladium climbed 0.3% to $899.50 U.S. per ounce and was on track to end the week 2.3% higher.

Source: http://www.baystreet.ca/commodities/1212/Far-East-Tensions-Cause-Gold-Prices-to-Perk

INTERVIEW: American Creek Discusses New Intersections of Mineralization Grading 5.1 Meters of 9.57 G/T Gold $AMK.ca

Posted by AGORACOM-JC at 11:56 AM on Thursday, August 10th, 2017

American Creek Reports New Gold Zone Discovery at Treaty Creek – Intersects Stratabound Mineralization Grading 5.1 Meters of 9.57 G/T Gold $AMK.ca

Posted by AGORACOM-JC at 9:31 AM on Wednesday, August 9th, 2017

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  • Announced that JV partner and operator Tudor Gold Corp has discovered a new gold zone at the Treaty Creek Project
  • Stratabound Mineralization Grading 5.1 Meters of 9.57 G/T Gold
  • Five additional holes have been completed on this target at the Treaty Creek Property and assays are pending

CARDSTON, ALBERTA–(Aug. 9, 2017) – American Creek Resources Ltd. (TSX VENTURE:AMK) (“American Creek”) (“the Corporation”) is pleased to announce that JV partner and operator Tudor Gold Corp. (“Tudor”) has discovered a new gold zone at the Treaty Creek Project located in BC’s “Golden Triangle” immediately north of, and in the same hydrothermal system as, Seabridge Gold’s KSM project and Pretivm’s Brucejack project.

Tudor reported the following:

[The new zone was intersected in Hole HC-17-01 designed to test for northern extensions of GR2 zone mineralization as encountered in previous drilling in 2007 and 2009. Hole HC-17-01 intersected a stratabound, brecciated and silicified sulphide venting zone containing tetrahedrite, Sb-sulphosalts and pyrite located at the contact between an upper pervasively hydrothermally altered volcaniclastic unit and a footwall mudstone unit. The entire interval from 247.3 to 254.45m returned 7.15m of 6.20 g/t gold, including the venting zone – 1.05m of 4.12 g/t gold from 247.3 to 248.35m – and the vented sulphides in the immediate footwall mudstones – 5.1m of 9.57 g/t gold from 249.35m to 254.45m. True widths are uncertain at this time.

Five additional holes have been completed on this target at the Treaty Creek Property and assays are pending. Concurrently, drilling is proceeding with a second drill on the adjacent Copper Belle zone on porphyry gold and gold-copper targets. A third drill is being mobilized to the Treaty Creek Property.

Walter Storm, President and CEO of Tudor Gold commented as follows: “We are very encouraged by the results from the first hole into this target, particularly as it appears gold mineralization is extending to the north. The style of mineralization, stratabound sulphides, particularly tetraedrite, elevated gold values, hosted in mudstones, is also encouraging as it has affinities with the unique Eskay Creek mine mineralization located 12 km to the west.”]

Darren Blaney, President and CEO of American Creek stated: “This is a great start to the drill program at Treaty Creek. What is most exciting is that this newly discovered northern zone has key Eskay signatures such as stratiform mineralization, a mudstone host, and tetrahedrite. This may well be the catalyst to the Treaty Creek Project getting the market exposure and recognition it deserves. With three drills now turning on the property, we look forward to further developments as the program advances.”

Tudor’s main goals for the 2017 Treaty Creek program as outlined in their previous April 4, 2017 news release are: “Two of the primary goals of the 2017 exploration program on the Treaty Creek claims are to develop a primary resource estimate on the Copper Belle zone and to determine how much further drilling is required to develop a preliminary resource estimate on the GR2 zone.”

A summary of the Treaty Creek project can be viewed here: http://www.americancreek.com/images/pdf/Treaty_Creek_Joint_Venture_Project.pdf

The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (fully carried until a production notice is given).

About American Creek

American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three “Golden Triangle” gold/silver properties; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor as well as the recently acquired 100% owned past producing Dunwell Mine group of properties. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, Red Tusk and Glitter King.

Information relating to the Corporation is available on its website at www.americancreek.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

American Creek Resources Ltd.
Kelvin Burton
403 752-4040
info@americancreek.com
www.americancreek.com

BULLETIN: Gold Prices Score a Lift as Dollar Softens $AMK.ca $EXS.ca $MQR.ca $OPW.ca $GGX.ca $GR.ca

Posted by AGORACOM-JC at 10:19 AM on Tuesday, August 8th, 2017
  • Gold futures rose on Tuesday as the U.S. dollar retreated, giving dollar-pegged commodities a modest lift in early trade.
  • December gold GCZ7, +0.28%  was $5.80, or 0.5%, higher at $1,270.50 an ounce, with the contract looking at back-to-back gains after Monday’s tepid rise.

The ICE U.S. Dollar Index DXY, -0.12% a gauge of the buck against a half-dozen currency rivals, was down 0.1%. Although the dollar has climbed 0.5% so far this month, the currency gauge is down 2.8% over the past 30 days, underscoring the greenback’s recent downtrend amid doubts about the pace of economic growth in the U.S., including signs of weaker-than-hoped-for inflation. The uncertain economic picture leaves financial markets wondering if the Federal Reserve will raise interest rates again this year.

A softening dollar can make assets linked to the currency more attractive to buyers using weaker currencies.

Meanwhile, September silver SIU7, +0.79% added 12 cents, or 0.8%, at $16.38, putting the white metal in position to end a four-session slide.

Tuesday’s rise for metals also comes amid heightened geopolitical risk, headlined by rising tensions between the U.S. and North Korea and its nuclear aspirations.

“Gold needs to break and trade over $1273.30 [an ounce] for the rest of the day to zoom,” said Chintan Karnani, chief market analyst at Insignia Consultants, based in New Delhi.

“Political news from [the U.S.] will be the key market mover today. The fact that U.S. dollar has not zoomed after the release of Friday’s July nonfarm payrolls can result in more losses for the greenback in the short term,” Karnani said.

The Labor Department on Friday showed that the U.S. added a better-than-expected 209,000 in July, pushing the unemployment rate to a 16-year low at 4.3%, but wage data remained tepid.

Mark O’Byrne, research director at GoldCore Ltd., said Friday’s selling in gold after the jobs report may have been overdone and said recent moves for the metal reflects that view. It’s also reflective of an uptick in concerns about meaningfully adding to assets perceived as risky with concerns persisting over drama in President Donald Trump’s White House and worries about a potential hike to the U.S. debt ceiling to avoid a government shutdown.

“I think there’s a little bit of risk aversion in the market,” O’Byrne said.

The Goldcore analyst said he’s optimistic on gold’s price for those reasons but recognizes that it could easily swing lower on sentiment that favors risk assets like stocks, with the Dow Jones Industrial Average DJIA, -0.14% and the S&P 500 index SPX, -0.16% both hitting all-time highs on Monday.

Tuesday’s modest gains in metals also comes as China trade data showed July exports and imports grew at a slower pace than they had recently, which should be a headwind for commodities prices.

Lackluster data have pressured shares of European miners, including iron-ore producers BHP Billiton PLC BLT, -1.29% BHP, -1.41% BHP, -0.23%  and Rio Tinto PLC RIO, -1.66% RIO, -1.25% RIO, -0.45% Anglo American PLC AAL, -0.50% lost 0.5%, while copper miner Antofagasta PLC ANTO, -0.52% moved down 1.2%.

In exchange-traded funds, the SPDR Gold Shares GLD, +0.45% rose 0.5% premarket, mining-company focused VanEck Vectors Gold Miners ETF GDX, +0.86% advanced 0.9%, while silver-oriented iShares Silver SLV, +1.17% gained 0.9%.

Source: http://www.marketwatch.com/story/gold-prices-score-a-lift-as-dollar-softens-2017-08-08