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
Richard Russell, author of Dow Theory Letters (the world’s longest running daily investment letter) and a long-time gold bull, has on numerous occasions called for a return to a gold standard. In a recent letter, Russell laid out eight reasons why he believes gold is the best form of money: (1) It must be durable, which [...]
Gold futures have crept steadily lower as morning trading has progressed, and are currently down by $7.10 at $1,406.40 per ounce. The yellow metal’s weakness has not coincided with a stronger U.S. dollar, however, as the U.S. Dollar Index (DXY) has slipped 0.4% to 79.46. Meanwhile, U.S. equity markets are modestly lower in spite of [...]
China’s Purchasing Managers’ Index (PMI), a measure of manufacturing activity, fell to 54.4 in December, a three month low. The PMI report is based on an HSBC survey, where a reading above 50 indicates economic expansion and a reading below 50 signals contraction. Commenting on the report, Qu Hongbin, Chief Economist China at HSBC, stated [...]
GOLD PRICE NEWS – The gold price traded near unchanged at $1,410 per ounce on low volume Thursday morning. The price of gold has gained $29.50 this week 1.5% of its $1,431 all-time high. Silver moved higher, rising to $30.65 per ounce – within a fraction of its $30.75 thirty-year high. The rally in the [...]
Stocks, Gold Quiet on Low Volume With two trading days left in 2010, markets are trading thin on very low volume. Gold is up $0.25 at $1,411.90 per ounce this morning as the U.S. dollar continues to trend lower. Copper is hitting another record high, trading at $4.37 per pound. S&P 500 stock futures dipped [...]
Precious metals climbed Wednesday, fueled by a 0.8% decline to 79.76 in the U.S. Dollar Index (DXY). Gold futures for February delivery on the COMEX advanced $8.30, or 0.6%, to settle at $1,413.50. March silver bested the yellow metal, rising $0.38, or 1.3%, to finish at $30.70 per ounce on the COMEX. In doing so, [...]
Gold and silver shares were mixed in afternoon trading Wednesday, with the Philadelphia Gold & Silver Index (XAU) fractionally positive by 0.1% at 225.13. Precious metals equities were unable to rally, in spite of gains in the metals themselves. Gold bullion advanced $5.67, or 0.4%, to $1,411.50 per ounce, while silver climbed $0.26, or 0.9%, [...]
Adding to the economic challenges across the Atlantic was a report published by the Chartered Institute of Personnel and Development (CIPD), which warned that 120,000 public sector and 80,000 private sector jobs will be lost in the United Kingdom in 2011. The CIPD also predicted that the the UK’s unemployment rate will rise from 7.9% [...]
Beginning next year, Federal Reserve Bank of Dallas President Richard Fisher and Philadelphia Fed President Charles Plosser will becoming voting members of the Federal Open Market Committee (FOMC), and thus have a greater say over the Fed’s monetary policies. Both Fisher and Plosser have become known as inflation hawks, having publicly expressed concerns on several occasions over [...]
GOLD PRICE NEWS – The gold price held firm Wednesday morning at $1,405.75 as the U.S. dollar came under renewed selling pressure. The U.S. Dollar index (DXY) fell 0.16 to 80.24, led by a rise in the euro. Today’s consolidation in the price of gold follows yesterday’s 1.6% gain – a rally that saw the [...]
