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
For the seventh day in a row gold prices have decreased making it the longest losing streak in two years. This doesn’t bode well with investors as gold futures are at a one-month low of $1,370.70.
It’s bad news for gold this morning as prices are down yet again. With gold prices at $1,383 an ounce, gold has hit a new month low.
That was until it reached its peak in September 2011 at more than $1,900 an ounce. Compare that to April 15th when prices of gold came crashing down to less than $1,400 an ounce and you’ve got yourself a predicament.
Just when gold investors thought the worst was over, gold hit an all new two-week low. Gold is now trading at $1,427.00, $41 less than yesterday.
If anything gold prices have been volatile over the past few months and today isn’t any different. Gold prices dipped slightly today as investors were about to breathe a sigh of relief that the worse was over.
Despite falling yesterday, gold once again soared, gaining $18.80 to $1,467.60 according to the New York Mercantile Exchange.
The price of gold couldn’t repeatedly increase forever which is why this morning it stopped. Prices of gold declined to $1,461.70 an ounce. The American dollar as well as the Australian dollar were weaker this morning, helping to keep the price of gold stable.
Despite falling six cents on Wednesday, gold came back strong this morning. June gold futures traded at $1,459.00 an ounce up 12 cents from yesterday.
Although the price of gold has continued to increase, it is not a good day for ETFS or mining stock. Today, one ounce of gold is equal to $1,472.70 but many stocks were down this morning.
Comex gold futures are still steadily rising as they were up again today to $1,465.40 an ounce.
