Gold for August delivery kicked off the trading with a solid start, on track to secure a third consecutive day of gains. In electronic trade, gold is up 2.58% at $1,326.10 during the Monday mid-morning session, fueled by a decline in the greenback. In his congressional testimony Friday, Fed Reserve Chairman Ben Bernanke said the central bank hasn’t set a timetable for tapering its monetary stimulus measures, which are considered a buoy for gold prices.
Shares of gold and silver exploration company GNCC Capita are up more than 4% in today’s trade, likely lifted by the strength in the gold market. GNCC’s initial exploration properties are located in Arizona and consist of White Hill Esther Basin, Burnt Well, Clara, Kit Carson, Silverfields, and Potts Mountain.
The company’s mission isn’t to emerge as a “mining” company, but rather is focused on gold mining properties that, through extensive exploration work, will add value to the company’s portfolio. These properties will then be sold for cash, contracted to a third party, or produced via joint venture with a mining company.
With gold prices on track to reach a five-week high, climbing above $1,300 in today’s trade, gold stocks like Goldcorp (GG), NovaGold Resources (NG), and Barrick Gold (ABX) are also trending higher, notching gains of more than 5%.
GNCC is positioned to take advantage of increasing confidence in gold as part of its strategy to participate in the growing “Blue Sky” trend in the mining industry wherein major global mining corporations, such as the aforementioned companies, seek to acquire mining projects that have little to no proven reserves but show promising potential to become significant producers.
For more information on GNCP, visit www.gncc-captial.com
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