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
Gold has surged $20 to $1,386 this morning amid mounting sovereign debt concerns in Europe. The U.S. Dollar Index (DXY) climbed 0.6% to 81.35, as the euro currency fell below 1.30 against the greenback for the first time since August. Equity markets in the U.S. were set to open in the red, with S&P futures [...]
Gold bucked the trend of lower stock and commodity prices heading into the last day of November. Rising $2.50 to $1,369 per ounce, the spot gold price boosted its month-to-date gains to over 1%. The euro fell for the third consecutive day, dropping below 1.30 against the U.S. dollar for the first time in ten [...]
Macquarie Equities Research, in a note to clients earlier this morning, commented: “Gold as an alternative currency has been an important theme driving prices higher over the past several years. As we have discussed previously, none of the world’s three leading currencies (U.S. dollar, euro, and yen) enjoy strong fundamentals, which underscores the long-term case [...]
COMEX gold futures settled higher Monday, with the February contract (now the most active contract) rising $3.20, or 0.2%, to $1,367.50 per ounce. The modest gain in gold futures came amid further sovereign debt worries in Europe and a rally in the U.S. Dollar Index (DXY), which reached a two and a half month high [...]
While the European sovereign debt problems have deservedly received the bulk of attention today, another sector of the markets showing noticeable weakness is the municipal bond market in the U.S. In a report to clients, BNP Paribas’ Credit Portfolio Strategy wrote that “the US municipal market led by Illinois and California has continued to weaken,” [...]
Gold sentiment has continued to slide in recent weeks, as the yellow metal has fallen from its $1,424.50 all-time high reached on November 9. The Ned Davis Research (NDR) Crowd Sentiment Poll for Gold Bullion has dropped from 76 earlier this month to 42.7, and is approaching “extreme pessimism” territory, according to a report from [...]
President Barack Obama has proposed a two-year pay freeze for federal civilian employees that would save the U.S. $2 billion for the remainder of the 2011 fiscal year, $28 billion over the next five years, and more than $60 billion over the next decade. The plan would not apply to military personnel, but would to [...]
While most commodities are trading lower this morning on the back of broad-based liquidation stemming from European sovereign debt concerns, oil futures are slightly higher, by $0.12 at $83.88 per barrel. Light sweet crude oil has held firm, following a 14% rise on November 24 in December 2011 $100 call options, the largest single-day gain [...]
Nouriel Roubini, the noted NYU economics professor who correctly predicted much of the financial crisis, said at a conference in Prague, Czech Republic that Portugal is “quite likely” to need a financial bailout, while Spain may be able to “muddle through” without a rescue package. “(A bailout) happened in Greece. It happened in Ireland, and it’s [...]
GOLD PRICE NEWS – The gold price traded near unchanged Monday morning, rising $1.00 to $1,364.75 per ounce. The price of gold held firm as stock prices in Europe slid despite news that Ireland was granted a $113 billion rescue package. In a surprise to many, the euro declined against the U.S. dollar on worries [...]
