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 sank on news that progress is being made toward a compromise to raise the debt ceiling. The gold price fell as low as $1585 per ounce – $25.00 off its morning high print of $1,610.
Veteran market commentator Richard Russell, editor of Dow Theory Letters, explained why the gold price was breaking out to new highs and why it continues to be a good investment: “Gold is rising on the tail of the latest Bernanke quantitative easing…the other fire under gold is the stalemate in the US efforts to solve [...]
The headline story on the front page of this morning’s Financial Times covers the breakout in gold above $1,600 per ounce. Meanwhile, Market Vane Corporation’s (www.marketvane.net) most recent bullish reading on gold stood at 86%, the upper end of its range in 2011. Does this mean gold is due for a pause?
The Federal Reserve’s Bank of Atlanta President, Dennis Lockhart, was the latest U.S. central banker to lay out the dovish case for monetary policy. With the economy slowing down in recent months, Lockhart stated that the Fed could leave interest rates near all-time lows for longer than currently anticipated by the markets. ”The chairman said [...]
With gold rallying to new record highs above $1,600 per ounce, sentiment toward the yellow metal has turned substantially more bullish. From a contrarian perspective, the latest surge in bullish gold sentiment is a cause for concern, according to Mark Hulbert. The founder of the Hulbert Gold Newsletter Sentiment Index (HGNSI), which measures market timers’ [...]
GOLD PRICE NEWS – The gold price moved slightly lower Tuesday morning, sliding $4.80 to $1,600 per ounce. Gold prices have climbed for eleven consecutive days, the longest such streak in 31 years. Yesterday, the gold price surpassed $1,600 per ounce for the first time on its way to yet another series of new all-time [...]
Gold dipped early Tuesday morning, falling $2.50 to $1,602.30 per ounce. If the yellow metal closes lower on the day, it would mark the end of an eleven-day winning streak – the longest since January of 1980. Silver, which has appreciated 16.1% in the month of July, followed gold lower – declining $0.26 to $40.27 [...]
