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
Newmont Mining’s (NEM) CEO, Richard O’Brien, presented his bullish outlook for gold in a Reuters Insider interview at the World Economic Forum in Davos, Switzerland. Mr. O’Brien, head of the world’s second largest gold producer, said he expects gold to reach $1,400-$1,500 per ounce in 2011, and eventually hit $2,000 in the future. The Newmont Mining [...]
GOLD PRICE NEWS – The gold price soared over $30 toward $1,350 per ounce on Friday as the price of gold recovered its entire weekly decline amid rising geopolitical tensions in Egypt. The gold price rebound also came alongside broad-based liquidation on Wall Street, as the Dow Jones Industrial Average (DJIA) plunged 155.15 points, or [...]
Precious metals shares were were the best performing sector of the equity market in late morning trading, as the Philadelphia Gold & Silver Index (XAU) advanced 2.30 points, or 1.2%, to 201.10. The rebound in the XAU came as gold surged back toward $1,330 per ounce, while silver climbed 1.6% to $26.45 per ounce. Notable [...]
Gold bullion has climbed back above $1,325 per ounce as the yellow metal rebounded in morning trading. The move higher in gold coincided with a rise in the U.S. Dollar Index, which rallied 0.4% to 78.05, and a slide in the broader market. The Dow Jones Industrial Average (DJIA), which had been above the 12,000 [...]
Bill Gross, manager of the world’s largest bond fund at PIMCO, warned investors that U.S. Treasuries will decline as the battle over the U.S. debt limit between President Barack Obama’s administration and a more conservative Congress ensues. In comments to the Associated Press, Gross called the Republican’s strategy “reckless,” and asserted that U.S. treasuries will suffer [...]
GOLD PRICE NEWS – The gold price stabilized near $1,315 Friday morning after a disappointing fourth quarter U.S. GDP report. The price of gold held steady while GDP growth came in at 3.2%, missing expectations of 3.5%. With yesterday’s $31.91, or 2.4%, tumble in the gold price to $1,313.78 per ounce, its worst day since [...]
U.S. Gross Domestic Product (GDP) for the fourth quarter of 2010 came in at 3.2%, below the 3.5% consensus estimate among economists. One positive aspect of the GDP report, however, was that final sales surged 7.1%, the highest rate since 1984. Gold futures held near $1,315 per ounce following the report, in spite of the [...]
Gold futures for February delivery on the COMEX declined Thursday by $14.60, or 1.1%, to settle at $1,318.40 per ounce. This was the lowest closing level for gold futures since October 4. Gold futures extended their losses following the COMEX close, falling to as low as $1,312.50 per ounce. Despite yesterday’s rebound in gold futures, [...]
George Soros provided his latest thoughts on the European sovereign debt crisis at the World Economic Forum in Davos, Switzerland. “It’s patently unjust that the Irish people should absorb all the losses made by the banks and that the bondholders should be totally free, and that I think will have to be modified,” Soros stated [...]
After hovering near $1,335 for most of the morning, gold plunged to as low as $1,317.20 as precious metals’ weakness continued. Silver dropped alongside the yellow metal, falling 0.9% to as low as $26.79 per ounce. The sell-off in gold and silver coincided with a rebound in the U.S. Dollar Index (DXY), which after being [...]
