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
COMEX gold futures, per the April contract, settled lower by $6.50, or 0.5%, at $1,409.30 per ounce. Although gold futures closed lower on Friday, spot gold rallied. The reason for the difference is that the yellow metal sold off Thursday afternoon following the close of open outcry trading at the COMEX, with spot gold finishing [...]
Federal Reserve Bank of Richmond President, Jeffrey Lacker, stated that the Federal Reserve should seriously considering winding down its second round of quantiative easing (QE2) before inflation poses a serious risk to the U.S. economy. In a CNBC interview, Lacker noted “The improvement in the growth outlook has been noticeable enough to tilt the case [...]
The latest U.S. economic reports were a mixed bag, as fourth quarter 2010 GDP missed estimates while University of Michigan Consumer Sentiment beat expectations. GDP growth was revised lower to 2.8%, below the 3.3% consensus estimate among economists. UM Consumer Sentiment for February came in at 77.5, above the 75.1 level expected by the markets. [...]
Goldcorp (GG) announced fourth quarter 2010 earnings of $331.8 million and record operating cash flow of $646.1 million. The world’s second-largest gold company by market capitalization reported adjusted quarterly earnings per share of $0.57, beating analysts’ expectations of $0.47 per share. Chuck Jeannes, President and CEO of Goldcorp, stated that “‘We expect a strong precious metals [...]
GOLD PRICE NEWS – The gold price held above $1,400 per ounce Friday morning following yesterday’s turn lower. The stability in the price of gold came despite modest strength in the U.S. dollar, which advanced against the euro and British pound. While the gold price traded near the flatline, equity markets in the U.S. were set to [...]
Gold held near unchanged at $1,403 per ounce Friday morning ahead of the fourth quarter 2010 U.S. GDP report. The euro/U.S. dollar currency cross dipped 0.3% to 1.3763 while overseas markets in Europe saw broad-based gains. S&P futures climbed 8.6 points to 1,311.60 and oil advanced a modest $0.45 to $97.73 per barrel.
Gold futures, per the April contract, settled higher by $1.80, or 0.1%, at $1,415.80 per ounce amid continued turmoil in Libya and other nations in Africa and the Middle East. However, the yellow metal turned lower following the COMEX close, with gold futures falling to as low as $1,401.75 before stabilizing near $1,405 per ounce. [...]
Libya’s dictator, Muammar Abu Minyar al-Gaddafi, has filled his personal private plane with gold bullion and is seriously considering fleeing the nation, according to ABC News. The report cited London-based Libyan political activist, Guma el-Gamaty, who told ABC’s Lateline that “quite reliable sources” believe Gaddafi is preparing to “flee to Zimbabwe to stay there with [...]
Silver turned modestly lower in mid-day trading on Thursday, falling by $0.23, or 0.7%, to $33.08 per ounce. This morning gold reached an intra-day high of $1,418.80, just 0.9% below its $1,432.50 all-time record high. However, the yellow metal subsequently pared its gains and is holding near unchanged at $1,412 per ounce. Silver and gold [...]
Federal Reserve Bank of St Louis President, James Bullard, alluded to the possibility of a third round of quantitative easing (QE3) in a speech today at the Bowling Green Area Chamber of Commerce. “The natural debate now is whether to complete the program, or to taper off to a somewhat lower level of asset purchases. [...]
