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OTO’s Positive News on Gold – Steady above $1,640

05-10-2012 05:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: OTO Mining, Ltd.

Last week, OTO have seen that the precious yellow metal floater over near $1,640 an ounce after dropping 1 percent in the last couple of weeks. And by 0023 GMT, there was a bit change in the spot gold which is $1,641.40 an ounce and U.S. gold traded nearly flat at $1,642.50.

To measure the conditions of the second-largest economy of the world, investors have closely watched the flash China HSBC manufacturing survey on 0230 GMT. In a bid to protect the worldwide economy from the euro zone debt crisis, the leading world economies have agreed to more than double the lending power of the International Monetary Fund.

During last week ended April 17, money managers raised their net long positions in U.S. gold futures and options but they have cut their net long bets in silver according from OTO’s source, U.S. Commodity Futures Trading Commission.

Meanwhile, to finally solve the Europe’s debt crisis, the global finance chiefs pressed Europe in weekend discussions to quickly put in place the needed economic reforms, now that there some precious time available in the newly increased financial buffer.

OTO Mining, Ltd. is an international silver mining company engaged in the exploration, development, acquisition, and mining of high-grade silver properties in China. Throughout the years of operation, OTO Mining, Ltd. has advanced exploration on multiple highly prospective targets and the company continues to focus on internal growth through active exploration programs. A superior opportunity for future corporate development and growth in shareholder value is created through the exploration projects of OTO Mining, Ltd. combined with low market capitalization, the joint venture business model, and low operating costs.

OTO Mining, Ltd.
No. 33 Qiaoxi Avenue, Songshan District, Chifeng City, Inner Mongolia 024005, Mongolia
Phone: +18663110818
Office Phone: +108007131478
Bolormaa Kushi

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