Scottsdale 3/23/2016 8:00:00 PM
News / Finance

QualityStocks News - Star Mountain Resources (SMRS): Gold has a Shimmering Start in 2016

QualityStocks would like to highlight Star Mountain Resources, Inc. (OTC: SMRS), a minerals exploration company focused on acquiring and consolidating mining claims, mineral leases, producing mines, and historic mines with production and future growth potential identified through exploration efforts. The company's operations are currently centered on the initiation, production and expansion of acquired mineral resources in the Star Mountain Mining District, Beaver County, Utah and turning them into producing assets.

In the company’s news:

The year of 2015 was a rough ride for gold, with the shiny metal navigating an unsupportive macro environment. A stronger dollar, a slump in oil prices and the climb in U.S. equities led to a more than 11 percent fall in gold’s value last year. With the Federal Reserve finally ending an era of near-zero interest rates with the December lift-off, gold sank to six-year lows. A steep fall in prices also led to multibillion-dollar write-downs by gold miners.

However, 2016 has started on a positive note for gold. The yellow metal has been the bright spot among precious metals, with prices shooting up roughly 17 percent year to date, making it the most attractive safe haven asset at present.

A slew of factors have contributed to the recent rally in gold prices, including concerns over the global economy, dollar weakness, volatility in equities and the introduction of negative interest rates by several of the world’s central banks (including Japan), which have spurred safe haven demand for gold.

While Barrick Gold Corp. (NYSE: ABX) is the industry standard in gold, smaller companies such as Star Mountain Resources, Inc. (OTC: SMRS) should be given a look as well. Star Mountain, a minerals exploration company, pursues the acquisition and consolidation of mining claims, producing mines, mineral leases, and historic mines in the United States. The company explores for gold, silver, copper, lead, zinc, silica, and zircon deposits and holds interests in the Balmat Mine located in the Balmat mining district of St. Lawrence County, New York.

Gold moved substantially higher in the past few months, rallying from $1,045 to well above $1,250. Gold stocks and silver stocks rallied as well, and many investors and traders claim that the decline in gold that started in 2011 is now over. The answer to the question whether this is the case or not has critical implications for precious metals investors, as the above impacts one’s decision to either invest in the precious metals market or wait to do so at much lower prices.

Gold has always been a solid and stable addition to your portfolio. Companies like Star Mountain Resources search out and acquire precious metal producing properties with proven reserves and production.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.