Mines Management (MGN) announces first quarter results
Extorre Gold Mines (XG) hits more high-grade gold at Cerro Moro
Spanish Mountain Gold (SPA) advances toward Feasibility Study
Crocodile Gold (CRK) reports first quarter results
Canaco Resources (CAN) delivers initial resource for Magambazi
Aurizon Mines (AZK) reports “excellent” results at Casa Berardi
The World Gold Council’s (WGC) third quarter report noted that the yellow metal “does not appear to be overvalued and that even modest allocations to gold in a portfolio can help investors mitigate losses and hedge against tail risks without sacrificing long-term returns.” The WGC went on to say that it expects demand for gold [...]
Following yesterday’s slide, COMEX gold futures for December delivery rebounded to settle higher by $19.90, or 1.5%, at $1,342.50 per ounce. Silver futures, per the December contract, advanced $0.28, or 1.2%, to finish at $23.88 per ounce. Copper and oil futures posted gains as well, rising 0.3% and 0.4%, respectively.
Gold has extended its gains in mid-day trading, rising from near $1,330 to as high as $1,345 per ounce as the U.S. Dollar Index (DXY) has steadily fallen throughout the day and is currently lower by 1.1% at 77.26. Precious metals shares are the top performing sector in the equity markets thus far, as the [...]
Two of the world’s largest banks, JPMorgan Chase (JPM) and HSBC (HBC) were accused of manipulating the COMEX silver market during the first half of 2008 by two individual traders, Brian Beatty and Peter Laskaris. The lawsuit, which seeks class action-status, alleges that ” between in or about March 2008 and continuing through the present, [...]
China should add more gold to its foreign-exchange reserves if the nation wishes to “internationalize” its currency, according to Meng Qingfa, a research employee at the China Chamber of International Commerce. The International Business Daily, a newspaper affiliated with the Ministry of Commerce, reported that Qingfa commented that China’s holdings of 1,054 tonnes of gold [...]
GOLD PRICE NEWS – The gold price climbed $10.26 to $1,335.98 Thursday as the price of gold rebounded from yesterday’s losses amid renewed weakness in the U.S. dollar. The SPDR Gold Trust (GLD), the most liquid gold price proxy in the equity markets, advanced $0.99 to $130.51 in morning trading, while the U.S. Dollar Index [...]
This morning’s rally in the gold price picked up steam as the U.S. dollar resumed its downtrend, sliding nearly 1% as measured by the Dollar Index, a trade-weighted currency basket. COMEX gold futures spiked $14.20 to 1,336.90 per ounce and S&P 500 stock futures added 7.00 to 1,185.80. Despite a 5% intra-month sell-off in the [...]
Barrick Gold (ABX), the world’s largest gold producer, reported third quarter adjusted earnings of $0.84 per share, beating consensus analyst expectations of $0.76 on the back of strong output at the company’s Cortez Hills mine in Nevada. Gold production was 2.06 million ounces and net income was $837 million. Barrick reaffirmed their yearly production guidance [...]
Gold moved higher early Thursday morning, rising $3.40 to $1,329 per ounce as the U.S. gave back a portion of yesterday’s gains. Stock and commodity market were quiet as S&P 500 futures gained 0.90 to 1179.70 while oil and copper both hovered near unchanged at $81.90 per barrel and $3.79 per pound, respectively.
GOLD STOCKS NEWS – Gold stocks declined Wednesday, as the Market Vectors Gold Miners ETF (GDX) fell $1.11, or 2.0%, to $54.68 per share. The S&P/TSX Global Gold Index, a composite of gold stocks traded in Canada, settled lower by 5.71 points, or 1.5%, at 388.76. With today’s retreat in gold stocks, the GDX and [...]
