Premier Gold Mines (PG) expands management team
Fortuna Silver Mines (FVI) expands presence in Mexico
Aurizon Mines’ (AZK) Board unanimously recommends rejecting Alamos offer
Claude Resources (CGR) expands gold resources and grade at Santoy Gap
Mines Management (MGN) reports “significant progress” in third quarter
Crocodile Gold (CRK) reports 35% production growth
Gold and silver futures continued their recent bout of weakness on Wednesday amidst broad-based liquidation on Wall Street. COMEX gold futures – per the February 2012 contract – settled considerably lower, by $31.40, or 2.0%, at $1,564.10 per ounce. However, the yellow metal extended its slide in electronic trading toward $1,550 per ounce – its [...]
The Federal Reserve, led by Chairman Ben Bernanke, has engaged in a “covert bailout” of European banks, according to ex-Fed vice president Gerald P. O’Driscoll Jr. In a piece published by the Wall Street Journal on Wednesday, O’Driscoll – a former vice president and economic advisor at the Federal Reserve Bank of Dallas, and a [...]
GOLD STOCKS NEWS – Gold stocks tumbled Wednesday as the Market Vectors Gold Miners ETF (GDX) fell as much as $1.84, or 3.5%, to $50.03 per share in early afternoon trading. The sell-off in gold stocks and the GDX was driven by further weakness in precious metals and U.S. dollar strength. Gold stocks in Canada [...]
Gold and silver futures turned sharply lower Wednesday morning as the U.S. dollar rallied against a basket of the world’s leading currencies. COMEX gold for February 2012 delivery dropped $23.20, or 1.5%, to $1,572.30 per ounce, while silver futures tumbled $1.27, or 4.4%, to $27.47 per ounce. Earlier this morning precious metals traded only fractionally [...]
Crocodile Gold (CRK.TSX) reported that Armant, LLC, an affiliate of investment funds managed by Luxor Capital Group, LP, has filed its take-over bid circular and formally begun the previously announced unsolicited offer to acquire up to 215,386,435 common shares of CRK.TSX. When combined with the shares already owned and controlled by funds managed by Luxor, [...]
GOLD PRICE NEWS – The gold price traded at $1,591 per ounce Wednesday, near unchanged from yesterday’s close. The price of gold held steady while stock prices rallied following a successful government bond auction in Italy. Italian ten-year bond yields fell back below 7% to 6.77% amid strong demand for 9 billion euros of six-month [...]
Gold futures settled lower for the fourth consecutive trading session on Tuesday amid widespread weakness in precious and industrial metals. COMEX gold for February 2012 delivery – the most actively-traded contract – finished with a loss of $10.50, or 0.7%, at $1,595.50 per ounce. The yellow metal reached an intra-day low of $1,591.10 earlier this [...]
Gold and silver shares turned lower alongside precious metals on Tuesday, as the Philadelphia Gold & Silver Index (XAU) retreated 1.3% to 182.81 in mid-day trading. The XAU is coming off its first weekly advance in three, but with today’s sell-off extended its loss in December to 12.2%. Furthermore, the XAU is now lower by [...]
Developments over the past week in both China and India could have bearish implications for the price of gold, according to a recent report by TD Securities. In a note to clients this morning, precious metals strategist Steve Scacalossi wrote that “After the Christmas weekend the precious metals complex drifted lower. Gold opened right on [...]
GOLD PRICE NEWS – The gold price slid $13.89, or 0.9%, to $1,594.92 per ounce Tuesday morning amid modest declines in the broader commodities complex. Silver fell $0.42, or 1.4%, to $28.85 per ounce alongside the price of gold. Equity markets in Asia and Europe were mixed, while U.S. markets looked to open slightly lower [...]
