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
Portugal’s A-long-term and A-2 short-term foreign and local currency sovereign credit ratings have been put on “CreditWatch with negative implications” by Standard & Poor’s (S&P) Ratings Services. In its report S&P wrote that “The CreditWatch placement reflects our view of increased risks to the government’s creditworthiness. These risks stem from uncertainty about the government’s possible recourse [...]
President Barack Obama’s commission that has been tasked with the job of determining measures to reduce the U.S. deficit has delayed its vote on a package of proposals from this Wednesday until Friday, according to commission co-chair Alan Simpson. Simpson, along with co-chair Erskine Bowles, plan to release details of the final plan tomorrow. Bowles commented [...]
Gold futures for February delivery settled higher by $18.60, or 1.4%, at $1,386.10 per ounce on the COMEX Tuesday, fueled by continued concerns over the deteriorating credit conditions in Europe. COMEX gold futures had surged to as high as $1,391.10 this morning, while the euro currency slid beneath 1.30 against the U.S. dollar. Silver futures [...]
Aaron Regent, CEO of Barrick Gold (ABX), the world’s largest gold producer, stated at a conference hosted by Scotia Capital in Toronto today that “We think that there’s still lots of room for gold to increase in price from here.” Regent pointed to sovereign debt issues, the inflationary consequences of fiscal and monetary policies, concerns of [...]
Gold in terms of the euro currency has climbed to a new all-time high of €1,068 per ounce today, exceeding the previous high of €1,050.86 reached in June of this year. While the yellow metal remains approximately 3% below its $1,424.50 record high in U.S. dollar terms, in euro terms it has surged to new levels amid [...]
The International Monetary Fund (IMF) announced that gold sales dropped by 40%, or 628,000 ounces (19.5 tonnes), between October and September, as central banks have shown interest to own the metal increased as a hedge against economic uncertainty, according to a Reuters report. The IMF’s October gold sales were substantially less than the 1.04 million [...]
Long-time gold bull Eric Sprott reiterated his positive outlook for precious metals in an interview with Shelly Won of the Globe and Mail. The founder of Sprott Inc. stated that “When I bought gold, I was buying gold to hold as a long-term investment. As it turned out, it quintupled. I didn’t think it would [...]
A company executive of Lion Fund Management Co. reported that the firm plans to raise up to $500 million in China to invest in overseas exchange-traded funds (ETFs) backed by gold bullion, the first in the country that has been approved to do so, according to a Bloomberg report. Yang Zi, an executive at Lion [...]
GOLD STOCKS NEWS – Gold stocks opened higher Tuesday, as the Market Vectors Gold Miners ETF (GDX) rose $0.17 to $59.04 despite broad-based weakness on Wall Street. The GDX and broader gold stocks sector held firm as gold bullion surged $20 to $1,386 amid the escalating European sovereign debt issues. The S&P/TSX Global Gold Index, [...]
GOLD PRICE NEWS – The gold price spiked $19.00 to $1,385.50 on the last trading day of the month, rallying as confidence in the euro is plummeting. The price of gold has recently appreciated despite a stronger U.S. dollar. While historically the gold price has been negatively correlated with the dollar, currently both gold and [...]
