Spanish Mountain Gold (SPA) launches Feasibility Study
Klondex Mines (KDX) reports “very encouraging” results at Fire Creek
Canaco Resources’ (CAN) gold discovery keeps growing
Claude Resources (CGR) expands gold mineralization at Santoy Gap
Crocodile Gold (CRK) reports completion of Luxor Group bid
Premier Gold Mines (PG) expands presence in Red Lake District
GOLD PRICE NEWS – The gold price rose Sunday night, gaining $5.00 to $1,362.85. The gold price climbed alongside S&P 500 stock futures ahead of a widely-anticipated, news-filled week. On Tuesday, the Republicans are expected to re-take the House of Representatives in the mid-term elections with the Senate likely to remain under Democratic control. While [...]
COMEX gold futures – per the December contract – rallied $15.10, or 1.1%, to settle at $1,357.60 per ounce. Following last week’s 3.4% slide, gold futures rebounded to post a weekly gain of $22.50, or 1.7%.
BMO Capital upgraded shares of Barrick Gold (ABX), the world’s largest gold producer, to “Outperform” from “Market Perform,” with a price objective of $60. ABX is currently higher by $1.02, or 2.2%, at $48.04 in afternoon trading.
John Embry, chief investment officer of Sprott Asset Management, said in a King World News interview that he sees the price of silver rising to $50 per ounce in a hyperinflationary scenario if the Federal Reserve continues its quantitative easing program. Silver briefly hit $50 in 1980 as the Hunt brothers tried to corner the [...]
In a note to clients Bretton Woods Research noted that economist Reuven Brenner suggested that “the validity of the Real Bills doctrine — the doctrine, prevailing at the time of the Federal Reserve’s founding in 1913, which states there can never be ‘too much’ money if banks issue only against short-term commercial bills, backed by ‘real’ transactions [...]
Equity markets have held near unchanged levels following a slew of economic data this morning. The Dow Jones Industrial Average (DJIA) inched lower by 5.38 points to 11,108.57 while the S&P 500 dipped 0.43 points to 1,183.35 following these reports: Q3 GDP growth – 2.0%, in line with expectations October Chicago Purchasing Managers’ Index – [...]
GOLD STOCKS NEWS – Gold stocks looked to open higher Friday, with the Market Vectors Gold Miners ETF (GDX) rising $0.36, or 0.6%, to $56.72 in pre-market activity. Strength in gold stocks and the GDX came as gold bullion climbed toward $1,350 amid renewed concerns over the sovereign debt crisis in Greece. The S&P/TSX Global [...]
GOLD PRICE NEWS – After advancing $17.67 yesterday, the gold price moved higher once again – gaining $5.00 to $1,348.50 per ounce. The gold price moved above the $1,325 and $1,345 range that has contained it for the past week after it tumbled $40 on October 19. The price of gold has hovered in this [...]
Gold prices held firm Friday morning, rising $4.00 to $1,347 per ounce while stock prices came under pressure overseas. On the back worries over a spike in Greek bond yields and fresh concerns over sovereign debt, stocks moved lower in Asia and investors flocked to gold as a safe haven. Oil and copper both followed [...]
Eldorado Gold (EGO) reported third quarter earnings of $0.09 per share, missing analyst expectations of $0.10 per share. EGO produced 151,297 ounces of gold, slightly less than projected due to lower grades at the company’s flagship Kisladag mine in Turkey. The company did reiterate its 2010 production guidance of 625,000 ounces at cash operating costs [...]
