HIGHLIGHTS
Why American Creek Resources?
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% Â 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% Â 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% Â was up 0.5%, the miner-focused VanEck Vectors Gold Miners ETF GDX, +1.24% gained 1% and iShares Silver Trust SLV, +0.25% Â 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=
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
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
[email protected]
www.americancreek.com
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% Â 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
Historically, from 1971 through today, when the U.S. Dollar Index declines by 10% or more during a period of 151 trading days, gold over the following 12 months has gained by a median of 18.7%. To the contrary, when the U.S. Dollar Index gains by 10% or more during a period of 151 trading days, gold over the following 12 months has declined by a median of -0.24%. Click here to see for yourself!
Source: http://inflation.us/us-dollar-index-crashes-by-most-in-6-years/
Several analysts point out that the outlook for gold and, by association, gold stocks, is bright despite rising US interest rates.
By Eva Brocklehurst
Gold retains a role as both an investment and defensive asset and analysts believe it will remain an important part of portfolios for both the private sector and central banks. Gold is a store of wealth in unstable times and such times prevail.
ANZ analysts expect increased political uncertainty in the US will support gold in the short term despite higher interest rates. Gold prices are forecast to push past US$1300/oz over the next 12 months and there are positive long-term prospects as well.
In the wake of the US Federal Reserve’s recent increase to its Fed Funds rate, and if the three rate rises in the current cycle are anything to go by, Bell Potter also considers the outlook positive for gold. Typically, rising interest rates are considered negative for gold because of the increased opportunity cost of holding an asset with no yield. As the gold price is appreciating amid rising interest rates in the US this signals to the broker that both inflation and safe-haven trade are key themes in the gold market.
The ANZ analysts do not envisage rising US interest rates as a negative. Gold has rallied in all but one of the past seven rate-hike cycles since the 1970s. Gold has also outperformed when interest rates were increasing relatively slowly. Furthermore, the analysts believe, if the US political situation worsens this year, there is a possibility gold prices will breakthrough US$1300/oz. Safe-haven buying is a strong driver of investor demand and is usually sparked by macro shocks or political instability.
Emerging markets should drive demand for physical gold for some time and China and India are already the world’s largest gold consumers. Demand in India and China has rebounded sharply in recent months and the analysts observe the issues around de-monetisation in India are abating, while there has been a sharp pick up in China’s gold imports, which suggests previous constraints have eased.
Growth in salaries, automobile sales and passenger air travel in India is expected to support the country’s gold market over the next year as India’s gold demands tend to correlate with income growth. Gold holdings are also likely to increase at central banks and most of the future buying is expected from central banks in emerging markets as they move closer to developed world levels.
China is likely to dominate the recovery in the gold price as Asian financial centres open up and the ANZ analysts find no reason why Shanghai should not become a major centre for gold trading, provided the appropriate institution and legal reforms take place. Asia is expected to account for over half of the global economy by 2050.
Supply
On the supply side prices are supported by the fact that gold mines cannot expand rapidly. Gold production has risen by an average of just 0.9% since 1995, year-on-year. Mine supply remains the primary source of gold and the trend towards increasing use of scrap has reversed over the past five years. New gold in total supply rose to over 70% in 2016.
Those countries driving the growth in the primary source of gold are ones best place to do so in the future, the analysts assert. Gold reserves are concentrated, at around 70%, in just 10 countries and Australia and South Africa have the largest unmined reserves. Meanwhile, scrap supply is volatile and the extraction from recycled electronics costly, so scrap gold is heavily influenced by both the price of gold and economic cycles.
As the ASX gold index is now down -3% year-to-date, Bell Potter believes the best performances are being driven by company-specific catalysts among the single-mine producers and successful explorers. The broker observes, while the gold price has not cracked US$1300/oz yet, it has established a pattern of higher lows and higher highs.
With a relatively steady exchange rate the Australian-dollar gold price has followed a similar track. The broker also believes relative outperformance of equities versus gold bullion is an indicator of positive sentiment.
Meanwhile, the costs associated with gold mining have fallen globally by around 15% over the past three years. Most of the reductions have been made in operating or production costs. The biggest cost reductions have been experienced in Australia, the ANZ analysts observe, where total cash costs have declined an average -30% since 2012.
Two factors, exchange rates and oil prices, have helped drive costs down and the analysts estimate around 60% of gold mining costs are based in local currency terms and around 10-12% related to oil prices. Indonesia, South Africa, Australia and Canada appear to have been the biggest beneficiaries in this regard.
Divergence In Cash Costs
Citi has highlighted a divergence between the cash costs of US dollar-denominated and non-US dollar-denominated companies. South African gold producers, in particular, have sustained all-in cash cost hikes of 16% while those of US dollar-denominated companies declined by -2.7%. Citi expects that a strengthening South African rand will continue to put pressure on South African gold stocks as will rising capital and exploration expenditure.
The broker expects costs in the industry to rise this year as years of under-investment unwind, especially if a stable, or higher, gold price prevails. Citi believes consensus expectations do not appropriately reflect the rising costs and maintains a bearish view on the sector, particularly South African gold stocks.
Based on recent changes to the underlying MVIS Junior Gold Miners index and significant changes to the GDXJ methodology in the US, Macquarie expects the main impact will be on North America markets. Yet, key beneficiaries in the Australian context are Newcrest Mining ((NCM)), Evolution Mining ((EVN)), Northern Star ((NST)) and OceanaGold ((OCG)).
These stocks have been are seen returning to the index as the eligibility band is widened. Smaller stocks are expected to suffer as a result of the re-balance. Macquarie believes investors should keep buying quality in good jurisdictions where there are cornerstone assets.
Source: https://www.fnarena.com/index.php/2017/06/19/bright-outlook-for-gold/
CARDSTON, ALBERTA–(June 12, 2017) – American Creek Resources Ltd. (TSX VENTURE:AMK) (“American Creek”) is pleased to report that JV partner and operator Tudor Gold Corp. (“Tudor”) has announced their 2017 drilling plans and confirmed that they intend to define a gold resource this summer 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, in Friday’s news release, confirmed the main goals for the 2017 Treaty Creek program as outlined in their previous April 4, 2017 news release and stated the following:
“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.
James McCrea, PGeo, has been retained to prepare the resource estimates on the Copper Belle and GR2 zones. Mr. McCrea has a wealth of experience as a geologist and resource specialist, including the preparation of resource estimates for other publicly traded companies operating in the Golden Triangle near Stewart, B.C. Mr. McCrea will supervise a drilling plan aimed at carrying out sufficient infill and stepout drilling in the Copper Belle zone to permit a resource estimate based on a 50-metre-by-50-metre drill hole spacing over a surface area of 500 metres by 300 metres. It is anticipated that all holes will be drilled to a minimum depth of 300 metres. Holes showing continuing mineralization may be drilled deeper, and, as warranted, drill casings will be left in place to facilitate further exploration. Additionally, cut channel trenching will be employed in areas where mineralization crops out on surface.
As also detailed in the press release of April 4, 2017, the 2017 drill results will be used to further interpret and validate the results of the magnetotellurics (MT) survey carried out in 2016. Through that process, the results of the MT survey will become even more useful in guiding further exploration toward expanding mineral resource estimates.
Raul Sanabria, PGeo, has designed a drilling plan for the GR2 zone which will focus on delineating the high-grade gold zone found in hole GR2-09-07 and extending the known mineralized zone along strike for 500 metres and downdip for another 500 metres.
More Core Diamond Drilling Services of Stewart, B.C., will carry out all the diamond drilling in 2017. More Core has extensive experience drilling on the Treaty Creek claims for both Tudor Gold and prior rights holders. More Core will dedicate two drill rigs to the Treaty Creek project, with drilling to commence as soon as the snowpack has melted enough to ensure safe, logistically feasible operations.”
Darren Blaney, President and CEO of American Creek stated: “We are very pleased and excited to see the Treaty Creek Project take a major step forward this summer with Tudor beginning work on developing resource estimates for both the Copper Belle and GR2 gold zones. In addition, with the 2016 MT survey indicating that mineralized zones extend towards Seabridge’s Iron Cap zone (located within 1 km of the Treaty Creek claim boundary), we will be closely watching the outcome of Seabridge’s significant 2017 drill program planned for the Deep Iron Cap zone as they follow up on their spectacular drill hole IC-16-62 from last summer.”
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. 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.
Kelvin Burton
403 752-4040
[email protected]
www.americancreek.com