Spanish Mountain Gold (SPA) launches Feasibility Study
Klondex Mines (KDX) reports “very encouraging” results at Fire Creek
Canaco Resources’ (CAN) gold discovery keeps growing
Claude Resources (CGR) expands gold mineralization at Santoy Gap
Crocodile Gold (CRK) reports completion of Luxor Group bid
Premier Gold Mines (PG) expands presence in Red Lake District
GOLD STOCKS NEWS – Gold stocks pared their gains Friday afternoon, as the Market Vectors Gold Miners ETF (GDX) settled higher by just $0.16, or 0.3% at $55.19 per share. The GDX – comprised of many of the world’s largest gold stocks – had been as high as $56.58 this morning, but relinquished the large [...]
Gold capped off its worst month since the depths of the 2008 financial crisis on a slightly positive note. COMEX gold futures, per the December contract, advanced $5.00, or 0.3%, to $1,622.30 per ounce. In doing so, the yellow metal cut its loss in Septmeber to 11.0% – its worst month since a 17.4% plunge [...]
Contrary to what many investors and economists are now saying, the Federal Reserve is “not now, or ever, out of ammunition,” according to St. Louis Fed President James Bullard. At a speech on Friday in San Diego, Bullard stated that “The Fed has potent tools at its disposal and is not now, or ever, out of [...]
Although gold has fallen victim to broad-based liquidation and U.S. dollar strength in September, it remains “intrinsically more sound than most, if not all” other financial safe-havens, according to GFMS. The metals consultancy firm contended that the yellow metal remains the preferred safe haven asset – over U.S. Treasuries, German government bonds and the Japanese [...]
Gold and silver shares posted strong gains Friday despite mixed action in precious metals. The Philadelphia Gold & Silver Index (XAU) – a composite of the sector’s largest companies – rallied 2.5% to 189.10 in mid-day trading. Among gold producers, two of the top performing names today were Randgold Resources (GOLD) and Yamana Gold (AUY) [...]
Bank of America Merrill Lynch maintained its 12-month gold price forecast of $2,000 per ounce despite the yellow metal’s weakness in recent weeks. In a note to clients, the firm wrote that “It is worth noting that falling quotations were not accompanied by substantial outflows from physically backed exchange traded funds particularly in recent days. [...]
GOLD PRICE NEWS – The gold price held steady near $1,615 per ounce Friday morning while concerns over a global economic slowdown continued to weigh on financial markets. The spot price of gold climbed to as high as $1,635.80 in overnight trading, but relinquished its gains as the U.S. dollar moved higher against a basket [...]
Gold futures settled slightly lower Thursday as the U.S. dollar rebounded against a basket of foreign currencies. COMEX gold futures, per the December contract, inched down $0.80, or 0.1%, to $1,617.30 per ounce. The yellow metal traded up to as high as $1,633.00 this morning but relinquished its gains as the day progressed. The U.S. [...]
Gold and silver shares were largely mixed Thursday morning as the Philadelphia Gold & Silver Index (XAU) dipped 0.1% to 184.03. The XAU initially rose as much as 2.2% to 188.24, but turned slightly lower as precious metals pared their gains. News among gold and silver companies was particularly light today, while names in the [...]
Philadelphia Fed President Charles Plosser was the lastest central banker to criticize the accommodative monetary policies implemented by Chairman Ben Bernanke. In a speech on the economic outlook to the Business Leaders Forum at the Villanova School of Business, Plosser expressed his skepticism that Operation Twist would encourage businesses investment or consumer spending in light of [...]
