Bloomberg reported that gold holdings in exchange-traded products are primed to experience the largest monthly drop since December 2011, due to waning demand in the face of global economic recovery.
As quoted in the market report:
Assets contracted 0.8 percent so far in January, the largest decrease since December 2011, according to data compiled by Bloomberg. The holdings, which reached a record in December, dropped to a two-month low of 2,610.272 metric tons yesterday.
Nexus Gold Corp. (TSXV:NXS) is currently drilling on the Walker Ridge Gold Project in Nevada - a multiple target, Carlin-type gold exploration property. They have recently submitted an expanded Plan to increase the current 8 pad plan to 29 drill pads.
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