Express, Inc. (NASDAQ: EXPR), Corning (NYSE: GLW), Covenant Transportation Group (NASDAQ: CVTI), Discovery Laboratories (NASDAQ: DSCO), Golden Star Resources Ltd. (NYSE: GSS) and Nestle (NASDAQ: NSRGY) ratings and price targets.
Express (EXPR) had its “overweight” rating reiterated by Piper Jaffray (NYSE:PJC).
Corning (GLW) had its “buy” rating reiterated by Sterne Agee. They have a price target of $15.00 on the company.
Covenant Transportation Group (CVTI) was downgraded by Zacks Investment Research from a “neutral” rating to an “underperform” rating.
Discovery Laboratories (DSCO) was downgraded by Zacks Investment Research from an “outperform” rating to a “neutral” rating.
Golden Star Resources Ltd. (GSS) was downgraded by Zacks Investment Research from a “neutral” rating to an “underperform” rating.
Nestle (NSRGY) was upgraded by BNP Paribas from an “underperform” rating to a “neutral” rating.
Showing posts with label Golden Star Resources. Show all posts
Showing posts with label Golden Star Resources. Show all posts
Wednesday, January 11, 2012
Tuesday, August 23, 2011
Newmont Mining Co. (NEM) (GRMN) (GSS) (HMY) (IDSY) (MFN) (NDN) Close Up
Newmont Mining Co. (NYSE:NEM) closed Monday at 62.86, up $2.78, or 4.63 percent.
Garmin Ltd. (NASDAQ:GRMN) ended the session at $31.62, gaining $0.62, or 2.00 percent.
Golden Star Resources Ltd. (AMEX:GSS) closed Monday at $2.40, jumping $0.20, or 9.09 percent.
Harmony Gold Mining (NYSE:HMY) closed at $12.91, climbing $0.95, or 7.94 percent.
I.D. Systems Inc. (NASDAQ:IDSY) closed at $4.85, rising $0.31, or 6.83 percent.
Minefinders Corp. Ltd. (AMEX:MFN) ended the day at $16.95, increasing $1.26, or 8.03 percent.
99 Cents Only (NYSE:NDN) closed at $18.00, soaring $1.42, or 8.56 percent.
Garmin Ltd. (NASDAQ:GRMN) ended the session at $31.62, gaining $0.62, or 2.00 percent.
Golden Star Resources Ltd. (AMEX:GSS) closed Monday at $2.40, jumping $0.20, or 9.09 percent.
Harmony Gold Mining (NYSE:HMY) closed at $12.91, climbing $0.95, or 7.94 percent.
I.D. Systems Inc. (NASDAQ:IDSY) closed at $4.85, rising $0.31, or 6.83 percent.
Minefinders Corp. Ltd. (AMEX:MFN) ended the day at $16.95, increasing $1.26, or 8.03 percent.
99 Cents Only (NYSE:NDN) closed at $18.00, soaring $1.42, or 8.56 percent.
Wednesday, July 13, 2011
Eldorado (EGO) (GSS) (AEM) (HMY) (GG) Soar as Gold Breaks New All-Time Record
The price of gold broke another all-time record Tuesday, resulting in gold miners like Eldorado (NYSE:EGO), Golden Star Resources (AMEX:GSS), Agnico-Eagle (NYSE:AEM), Harmony Gold Mining (NYSE:HMY) and Goldcorp (NYSE:GG) popping.
Much of the fast action happened after reports revealed the Federal Reserve has been contemplating another round of quantitative easing, or printing money.
The price of gold settled at $1,562.30, gaining $13.10 on the day, and was up about $20 in after hours trading. The former settlement record was $1,557.10 an ounce on May 2, 2011. The rally fell short of the overall high of $1,577, reaching $1,574 an ounce.
Parameters of initiating QE3 would be sustainably high unemployment rates and low inflation, according to FOMC minutes from the meeting. Interestingly, at the same meeting other members noted they may have to take money out of the market if inflation risk continues to linger or increase.
Silver prices fell to $35.63 an ounce, a loss of 6 cents. In after hours trading the price of silver also soared by over 50 cents an ounce.
Eldorado Gold closed Tuesday at $16.63, gaining $0.81, or 5.12 percent. Golden Star Resources ended the session at $2.54, rising $0.14, or 5.83 percent. Agnico-Eagle closed at $64.35, jumping $2.19, or 3.52 percent. Harmony Gold Mining closed the day at $13.52, increasing $0.54, or 4.16 percent. Goldcorp closed at $52.56, soaring $2.15, or 4.27 percent.
Other gold miners making significant moves included Kinross Gold (KGC), which ended at $16.73, up $0.42, or 2.58 percent. Yamana Gold (NYSE:AUY) closed at $12.85, climbing $0.39, or 3.13 percent. NovaGold Resources Inc. (AMEX:NG) jumped to $9.91, gaining $0.27, or 2.80 percent. Gold Fields (NYSE:GFI) closed at $15.12, rising $0.66, or 4.56 percent. IAMGOLD Corporation (NYSE:IAG) ended the day at $20.25, up $0.90, or 4.65 percent.
Much of the fast action happened after reports revealed the Federal Reserve has been contemplating another round of quantitative easing, or printing money.
The price of gold settled at $1,562.30, gaining $13.10 on the day, and was up about $20 in after hours trading. The former settlement record was $1,557.10 an ounce on May 2, 2011. The rally fell short of the overall high of $1,577, reaching $1,574 an ounce.
Parameters of initiating QE3 would be sustainably high unemployment rates and low inflation, according to FOMC minutes from the meeting. Interestingly, at the same meeting other members noted they may have to take money out of the market if inflation risk continues to linger or increase.
Silver prices fell to $35.63 an ounce, a loss of 6 cents. In after hours trading the price of silver also soared by over 50 cents an ounce.
Eldorado Gold closed Tuesday at $16.63, gaining $0.81, or 5.12 percent. Golden Star Resources ended the session at $2.54, rising $0.14, or 5.83 percent. Agnico-Eagle closed at $64.35, jumping $2.19, or 3.52 percent. Harmony Gold Mining closed the day at $13.52, increasing $0.54, or 4.16 percent. Goldcorp closed at $52.56, soaring $2.15, or 4.27 percent.
Other gold miners making significant moves included Kinross Gold (KGC), which ended at $16.73, up $0.42, or 2.58 percent. Yamana Gold (NYSE:AUY) closed at $12.85, climbing $0.39, or 3.13 percent. NovaGold Resources Inc. (AMEX:NG) jumped to $9.91, gaining $0.27, or 2.80 percent. Gold Fields (NYSE:GFI) closed at $15.12, rising $0.66, or 4.56 percent. IAMGOLD Corporation (NYSE:IAG) ended the day at $20.25, up $0.90, or 4.65 percent.
Monday, July 11, 2011
Harmony (HMY) (IAG) (EGO) (GSS) (AEM) Close Mixed
Harmony Gold Mining (NYSE:HMY), IAMGOLD (NYSE:IAG), Eldorado Gold (NYSE:EGO), Golden Star Resources (AMEX:GSS) and Agnico-Eagle (NYSE:AEM) closed mixed as gold closed Friday at $1,541.60 an ounce, adding $11 at the Comex division of the New York Mercantile Exchange.
Gold traded in a range of $1,525 to $1,546.
During the four days the stock market was open last week, the NYSE Arca Exchange Gold BUGS index climbed 4.1 percent. Spot gold rose by $10.70 an ounce.
The strength in gold Friday was largely attributed to the failed Obama and Democrat economic policies, which have kept the country in a recession, contrary to commentary that we may go into a double dip recession; something that can't happen because we never left it.
Triggering the move up in gold was the disastrous jobs report which revealed only 18,000 jobs being added in June, while the umemployment rate soared to 9.2 percent. Approximately 7.5 million people are collecting unemployment.
As for gold, the next several weeks are expected to be more volatile as to price movement.
Agnico-Eagle closed Friday at $62.90, falling $0.05, or 0.08 percent. Golden Star Resources ended the session at $2.42, down $0.08, or 3.20 percent. Eldorado Gold closed at $16.01, gaining $0.05, or 0.31 percent. IAMGOLD closed at $19.41, up $0.05, or 0.26 percent. Harmony Gold Mining closed at $13.24, dropping $0.06, or 0.45 percent.
Gold traded in a range of $1,525 to $1,546.
During the four days the stock market was open last week, the NYSE Arca Exchange Gold BUGS index climbed 4.1 percent. Spot gold rose by $10.70 an ounce.
The strength in gold Friday was largely attributed to the failed Obama and Democrat economic policies, which have kept the country in a recession, contrary to commentary that we may go into a double dip recession; something that can't happen because we never left it.
Triggering the move up in gold was the disastrous jobs report which revealed only 18,000 jobs being added in June, while the umemployment rate soared to 9.2 percent. Approximately 7.5 million people are collecting unemployment.
As for gold, the next several weeks are expected to be more volatile as to price movement.
Agnico-Eagle closed Friday at $62.90, falling $0.05, or 0.08 percent. Golden Star Resources ended the session at $2.42, down $0.08, or 3.20 percent. Eldorado Gold closed at $16.01, gaining $0.05, or 0.31 percent. IAMGOLD closed at $19.41, up $0.05, or 0.26 percent. Harmony Gold Mining closed at $13.24, dropping $0.06, or 0.45 percent.
Friday, June 10, 2011
Randgold (GOLD) (HMY) (GRS) (ANV) (AUY) (GSS) Close Up on Higher Gold Prices
Harmony Gold Mining (NYSE:HMY), Randgold (NASDAQ:GOLD), Gammon Gold (NYSE:GRS), Allied Nevada Gold (AMEX:ANV), Yamana Gold (NYSE:AUY) and Golden Star Resources (AMEX:GSS) end higher as gold futures settled up.
Gold futures for August delivery roe $4 to $1,547.70 an ounce. Silver prices were also up, settling at $37.32 an ounce, gaining 2 percent.
The job market in the U.S. was also weak, as the number of people applying for unemployment benefits for the first time climbed to 427,000 last week. Economists had expected the number to fall to 419,000. The number applying for jobless benefits jumped from the prior week too, being upwardly revised from 422,000 to 426,000.
Gold was also stronger on the decision by the European Central Bank to keep its interest rate at the same level. It did give a nod toward raising interest rates in July.
The European Central Bank kept its key interest rate at 1.25 percent. The Bank of England left its main interest rate unchanged at 0.50 percent, a record low.
Golden Star Resources closed Thursday at $2.51, gaining $0.13, or 5.46 percent. Yamana Gold ended the day at $11.90, up $0.14, or 1.19 percent. Allied Nevada Gold closed at $31.62, jumping $0.09, or 0.29 percent. Gammon Gold ended the session at $9.51, climbing $0.54, or 6.02 percent. Randgold closed at $80.08, rising $3.04, or 3.95 percent. Harmony Gold Mining closed at $13.21, increasing $13.21, up $0.24, or 1.85 percent.
Gold futures for August delivery roe $4 to $1,547.70 an ounce. Silver prices were also up, settling at $37.32 an ounce, gaining 2 percent.
The job market in the U.S. was also weak, as the number of people applying for unemployment benefits for the first time climbed to 427,000 last week. Economists had expected the number to fall to 419,000. The number applying for jobless benefits jumped from the prior week too, being upwardly revised from 422,000 to 426,000.
Gold was also stronger on the decision by the European Central Bank to keep its interest rate at the same level. It did give a nod toward raising interest rates in July.
The European Central Bank kept its key interest rate at 1.25 percent. The Bank of England left its main interest rate unchanged at 0.50 percent, a record low.
Golden Star Resources closed Thursday at $2.51, gaining $0.13, or 5.46 percent. Yamana Gold ended the day at $11.90, up $0.14, or 1.19 percent. Allied Nevada Gold closed at $31.62, jumping $0.09, or 0.29 percent. Gammon Gold ended the session at $9.51, climbing $0.54, or 6.02 percent. Randgold closed at $80.08, rising $3.04, or 3.95 percent. Harmony Gold Mining closed at $13.21, increasing $13.21, up $0.24, or 1.85 percent.
Friday, May 20, 2011
Gold Fields (GFI) (GSS) (HMY) (GRS) (IAG) Jump As Gold Prices Break $1,500
Investors looking to gold and silver for safety as equities drop, pushing up the price of the precious metals, and miners like Gold Fields (NYSE:GFI), Golden Star Resources (AMEX:GSS), Harmony Gold Mining (NYSE:HMY), Gammon Gold (NYSE:GRS) and IAMGOLD Corporation (NYSE:IAG).
The most actively traded gold contract, for June delivery, was recently up $19.70, or $1.3 percent, at $1,512.10 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices are up with the most actively traded contract, for July delivery, recently up 22.3 cents, or 0.6 percent, at $35.155 a troy ounce.
IAMGOLD Corporation (IAG) was trading at $21.13, gaining $0.47, or $2.27 percent, as of 1:23 PM EDT. Gammon Gold (GRS) was trading at $9.98, gaining $0.33, or 3.42 percent. Harmony Gold Mining (HMY) was at $13.63, rising $0.13, or 0.96 percent. Golden Star Resources (GSS) was trading at $2.71, climbing $0.08, or 3.04 percent. Gold Fields (GFI) was at $15.79, jumping $0.22, or 1.41 percent.
The most actively traded gold contract, for June delivery, was recently up $19.70, or $1.3 percent, at $1,512.10 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices are up with the most actively traded contract, for July delivery, recently up 22.3 cents, or 0.6 percent, at $35.155 a troy ounce.
IAMGOLD Corporation (IAG) was trading at $21.13, gaining $0.47, or $2.27 percent, as of 1:23 PM EDT. Gammon Gold (GRS) was trading at $9.98, gaining $0.33, or 3.42 percent. Harmony Gold Mining (HMY) was at $13.63, rising $0.13, or 0.96 percent. Golden Star Resources (GSS) was trading at $2.71, climbing $0.08, or 3.04 percent. Gold Fields (GFI) was at $15.79, jumping $0.22, or 1.41 percent.
Thursday, May 19, 2011
Miners (GFI) (RGLD) (ANV) (KGN) (GSS) (BVN) Trade Up
Shares of Gold Fields (NYSE:GFI), Royal Gold (Nasdaq:RGLD), Allied Nevada Gold (AMEX:ANV), Keegan Resources Inc (AMEX:KGN), Golden Star Resources (AMEX:GSS) and Compania Mina Buenaventura, S.A (NYSE:BVN) all traded up on Wednesday as gold and silver prices climbed on the day.
June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.
The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.
A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.
Royal Gold (RGLD) closed Wednesday at $59.32, gaining $1.48, or 2.56 percent.
June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.
The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.
A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.
Royal Gold (RGLD) closed Wednesday at $59.32, gaining $1.48, or 2.56 percent.
Tuesday, May 17, 2011
Golden Star Resources (GSS) Drops Along with Gold Prices
Golden Star Resources (AMEX:GSS) fell in Wednesday trading, as gold prices came under pressure again in the ongoing volatile market conditions.
Gold for June delivery dropped $15.50 to settle at $1,501.40 at the Comex division of the New York Mercantile Exchange. The gold price Wednesday traded as high as $1,526.80 and as low as $1,495.40.
Gold lost 1 percent overall and silver plunged close to 8 percent on a broad commodity selloff, as the U.S. dollar index climbed over 1 percent to $75.41, as the euro was weakened by the seemingly endless sovereign debt crisis in Europe that isn't going away.
Gold and silver also garnered no support from rising inflation data. China said prices dropped to 5.3 percent in April from 5.4 percent in March, but that number was higher than the 5.2 percent looked for.
The Bank of England said that inflation could hit 5 percent in 2011.
Silver prices dropped almost $3 to close at $35.51 an ounce.
Golden Star Resources Ltd., participates in the exploration and production of gold.
Golden Star Resources (GSS) closed Wednesday at $2.77, falling $0.14, or 4.81 percent.
Gold for June delivery dropped $15.50 to settle at $1,501.40 at the Comex division of the New York Mercantile Exchange. The gold price Wednesday traded as high as $1,526.80 and as low as $1,495.40.
Gold lost 1 percent overall and silver plunged close to 8 percent on a broad commodity selloff, as the U.S. dollar index climbed over 1 percent to $75.41, as the euro was weakened by the seemingly endless sovereign debt crisis in Europe that isn't going away.
Gold and silver also garnered no support from rising inflation data. China said prices dropped to 5.3 percent in April from 5.4 percent in March, but that number was higher than the 5.2 percent looked for.
The Bank of England said that inflation could hit 5 percent in 2011.
Silver prices dropped almost $3 to close at $35.51 an ounce.
Golden Star Resources Ltd., participates in the exploration and production of gold.
Golden Star Resources (GSS) closed Wednesday at $2.77, falling $0.14, or 4.81 percent.
Monday, May 16, 2011
Barrick (ABX) (AZK) (GSS) (RGLD) (GRS) Trade Mixed As Gold Drops
Gold and silver prices went through a reversal Friday as gold closed down and silver rebounded to close higher, putting pressure on gold miners such as Barrick Gold (NYSE:ABX), Aurizon Mines (AMEX:AZK), Golden Star Resources (AMEX:GSS), Royal Gold (Nasdaq:RGLD) and Gammon Gold (NYSE:GRS) - which closed mixed - and gold ETFS.
Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.
The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.
Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.
Barrick closed Friday at $45.01, down $0.14, or 0.31 percent.
Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.
The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.
Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.
Barrick closed Friday at $45.01, down $0.14, or 0.31 percent.
Tuesday, May 10, 2011
Miners (MY) (GSS) (SA) (TRE) (GFI) Trade Up as Gold, Silver Rebound
Gold miners Harmony Gold Mining (NYSE:HMY), Golden Star Resources (AMEX:GSS), Seabridge Gold (Amex:SA), Tanzanian Royalty Exploration (AMEX:TRE) and Gold Fields (NYSE:GFI) closed up Monday as gold prices turned around on Monday.
Gold for June delivery increased $11.86 to settle at $1,503.20 at the Comex division of the New York Mercantile Exchange after dropping 4.8 percent in a week. The gold price Monday traded in a range as high as $1,512 and as low as $1,489.
Silver prices jumped $1.82 to close at $37.11 an ounce after plunging 27 percent last week.
According to research firm Lipper, last week almost $1 billion flowed out of silver exchange traded funds (ETFs).
The U.S. dollar fell to $1.434 against the euro and dropped against the Japanese yen to 80.24 yen.
Golden Star Resources (GSS) closed Monday at $2.90, gaining $0.14, or 5.07 percent.
Gold for June delivery increased $11.86 to settle at $1,503.20 at the Comex division of the New York Mercantile Exchange after dropping 4.8 percent in a week. The gold price Monday traded in a range as high as $1,512 and as low as $1,489.
Silver prices jumped $1.82 to close at $37.11 an ounce after plunging 27 percent last week.
According to research firm Lipper, last week almost $1 billion flowed out of silver exchange traded funds (ETFs).
The U.S. dollar fell to $1.434 against the euro and dropped against the Japanese yen to 80.24 yen.
Golden Star Resources (GSS) closed Monday at $2.90, gaining $0.14, or 5.07 percent.
Monday, May 9, 2011
Miners (GG) (UXG) (GSS) (GOLD) (NCMGY) Mixed as Gold Closes Up
Gold was able to shake itself of silver Friday, as it has been weighed down by the plummeting price of silver in recent trade, which also has been dragging down gold miners Goldcorp (NYSE:GG), US Gold (AMEX:UXG), Golden Star Resources (AMEX:GSS), Randgold (NASDAQ:GOLD) and Newcrest Mining (OTC:NCMGY.PK).
Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.
Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.
The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.
Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.
Goldcorp (GG) closed Friday at $48.92, gaining $0.20, or 0.41 percent.
Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.
Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.
The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.
Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.
Goldcorp (GG) closed Friday at $48.92, gaining $0.20, or 0.41 percent.
Friday, May 6, 2011
Miners (GSS) (NEM) JAG) (GFI) Plunge as Gold Prices Fall
Golden Star Resources (AMEX:GSS), Newmont Mining (NYSE:NEM), Jaguar Mining (NYSE:JAG) and Gold Fields (NYSE:GFI) got hit hard Thursday as gold and silver prices continue to drop.
Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.
The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.
Since the Friday settlement price silver has plummeted 25 percent.
The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.
Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.
As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.
Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.
Jaguar Mining (JAG) closed Thursday at $4.74, falling $0.34, or 6.71 percent.
Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.
The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.
Since the Friday settlement price silver has plummeted 25 percent.
The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.
Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.
As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.
Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.
Jaguar Mining (JAG) closed Thursday at $4.74, falling $0.34, or 6.71 percent.
Thursday, May 5, 2011
Miners (KGC) (GSS) (AZK) (AEM) (BVN) Trade Mixed as Gold Closes Down
Even though several events should have helped support gold prices on Wednesday, that wasn't the case, as Kinross Gold Corp (NYSE:KGC), Golden Star Resources (AMEX:GSS), Aurizon Mines (AMEX:AZK), Agnico-Eagle (NYSE:AEM) and Compania Mina Buenaventura, S.A (NYSE:BVN) closed mixed, as gold for June delivery, the most actively traded contract, fell $25.10 to $1,515.30 an ounce.
Silver prices are the story for commodities and gold at this time, as the plunge in prices is dragging down the overall commodity sector, as traders sell off holdings to take some profits.
Silver fell $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver closed in on $50 an ounce mark last week.
Silver for July delivery dropped $2.820, at $39.765 per troy ounce.
The U.S. dollar index lost 0.15 percent to $73.01, dropping from Tuesday's 73.127 close. The dollar index is down 7.5 percent so far in 2011.
Against the euro, the dollar plunged to its lowest level Wednesday since December 2009.
Other than the fall of the dollar, other factors that would have normally supported gold was the underreported decision by the European Union to bail out Portugal for close to 78 billion euros.
Also largely ignored was the ADP Employment Change report for April, which showed the private sector missed the anticipated addition of 200,000 jobs, being able to only generate 179,000 for the month.
Also of note Wednesday was the Institute for Supply Management’s services-sector index, which was weakened more than expected in April, confirming that American growth is slowing.
Kinross Gold Corp (KGC) closed Wednesday at $15.51, gaining $0.57, or 3.82 percent.
Silver prices are the story for commodities and gold at this time, as the plunge in prices is dragging down the overall commodity sector, as traders sell off holdings to take some profits.
Silver fell $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver closed in on $50 an ounce mark last week.
Silver for July delivery dropped $2.820, at $39.765 per troy ounce.
The U.S. dollar index lost 0.15 percent to $73.01, dropping from Tuesday's 73.127 close. The dollar index is down 7.5 percent so far in 2011.
Against the euro, the dollar plunged to its lowest level Wednesday since December 2009.
Other than the fall of the dollar, other factors that would have normally supported gold was the underreported decision by the European Union to bail out Portugal for close to 78 billion euros.
Also largely ignored was the ADP Employment Change report for April, which showed the private sector missed the anticipated addition of 200,000 jobs, being able to only generate 179,000 for the month.
Also of note Wednesday was the Institute for Supply Management’s services-sector index, which was weakened more than expected in April, confirming that American growth is slowing.
Kinross Gold Corp (KGC) closed Wednesday at $15.51, gaining $0.57, or 3.82 percent.
Wednesday, May 4, 2011
Correction for (GG) (GSS) (JAG) (UXG) as Gold Prices Fall
Shares of gold miners like Goldcorp (NYSE:GG), Golden Star Resources (AMEX:GSS) Jaguar Mining (NYSE:JAG) and US Gold (AMEX:UXG) were suffering Tuesday as the price of gold dropped on the session, as the U.S. dollar gained a little.
Gold for June delivery fell $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded in a range as high as $1,551.40 and as low as $1,516.20. The spot gold price fell over $15 for the day.
A temporarily stronger U.S. dollar put some pressure on gold and silver prices Tuesday, as the U.S. dollar index climbed 0.04 percent to $73.09.
Also surprising the market was the decision by India to boost their interest rates by 50 basis points to fight inflation. That puts the lending rate their at 8.89 percent, and the overnight lending rate at 7.25 percent.
Silver fell another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex.
Most of pressure on silver prices has come from the CME Group decision to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.
Gold looks like it's just taking a needed breather before resuming its upward run.
Gold stocks have been overall lagging the price of gold, and that should change assuming the costs of inputs remain lower than the push up in gold prices.
A growing number of gold miners are increasing dividends to attract investors.
US Gold (UXG) closed at $8.07, falling $0.81, or 9.12 percent.
Gold for June delivery fell $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded in a range as high as $1,551.40 and as low as $1,516.20. The spot gold price fell over $15 for the day.
A temporarily stronger U.S. dollar put some pressure on gold and silver prices Tuesday, as the U.S. dollar index climbed 0.04 percent to $73.09.
Also surprising the market was the decision by India to boost their interest rates by 50 basis points to fight inflation. That puts the lending rate their at 8.89 percent, and the overnight lending rate at 7.25 percent.
Silver fell another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex.
Most of pressure on silver prices has come from the CME Group decision to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.
Gold looks like it's just taking a needed breather before resuming its upward run.
Gold stocks have been overall lagging the price of gold, and that should change assuming the costs of inputs remain lower than the push up in gold prices.
A growing number of gold miners are increasing dividends to attract investors.
US Gold (UXG) closed at $8.07, falling $0.81, or 9.12 percent.
Monday, May 2, 2011
Agnico (AEM) (AZK) (GSS) (RGLD) (GRS) Close Up as Gold Price Breaks Records Again
Agnico-Eagle (NYSE:AEM), Aurizon Mines (AMEX:AZK), Golden Star Resources (AMEX:GSS), Royal Gold (Nasdaq:RGLD) and Gammon Gold (NYSE:GRS) closed up as gold price records continue be broken.
Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.
The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.
Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.
The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.
Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.
Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.
Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.
The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.
Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.
The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.
Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.
Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.
Friday, April 29, 2011
US Gold (UXG) (GSS) (RGLD) (ABX) Close Mixed as Gold, Silver Break Records
US Gold (AMEX:UXG), Golden Star Resources (AMEX:GSS), Royal Gold (Nasdaq:RGLD) and Barrick Gold (NYSE:ABX) closed mixed Thursday as gold and silver prices broke all-time records. It appears investors are taking some profits off the top.
Gold prices shot up while silver prices popped Thursday as investors bought the metals against a weak dollar and higher inflation expectations.
Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.
Silver prices for July moved up $1.55 to settle at $47.54 an ounce.
Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.
The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.
Gold prices shot up while silver prices popped Thursday as investors bought the metals against a weak dollar and higher inflation expectations.
Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.
Silver prices for July moved up $1.55 to settle at $47.54 an ounce.
Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.
The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.
Wednesday, April 27, 2011
Randgold (GOLD) (GSS) (AZK) (KGN) Close Mixed as Gold, Silver Routed
Gold prices were down from records set the previous trading session, temporarily falling below the important $1,500 level, but the losses in the yellow metal were somewhat benign, as gold miners Randgold (NASDAQ:GOLD), Golden Star Resources (AMEX:GSS), Aurizon Mines (AMEX:AZK) and Keegan Resources Inc (AMEX:KGN) closed mixed.
On the other hand, silver futures plunged Tuesday as investors took profits from record prices as uncertainty over the Federal Reserve policy decision coming up could have an adverse effect on the metals' unprecedented rally.
There is some wariness by some on how the Federal Reserve might respond in light of recent signs of higher food and energy prices.
Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820.
The most actively traded silver contract, for May delivery, fell $2.099, or 4.5%, to settle at $45.050 a troy ounce on the Comex division of the New York Mercantile Exchange. Front-month April silver lost $2.093, or 4.4%, to finish at $45.058.
Most-active Comex June gold was down $5.60, or 0.4 percent, to settle at $1,503.50 a troy ounce while the nearby April contract fell $5.60, or 0.4 percent, to end at $1,503.00.
Gold trading near $1,500 an ounce has increased buying in silver as a less expensive alternative.
On the other hand, silver futures plunged Tuesday as investors took profits from record prices as uncertainty over the Federal Reserve policy decision coming up could have an adverse effect on the metals' unprecedented rally.
There is some wariness by some on how the Federal Reserve might respond in light of recent signs of higher food and energy prices.
Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820.
The most actively traded silver contract, for May delivery, fell $2.099, or 4.5%, to settle at $45.050 a troy ounce on the Comex division of the New York Mercantile Exchange. Front-month April silver lost $2.093, or 4.4%, to finish at $45.058.
Most-active Comex June gold was down $5.60, or 0.4 percent, to settle at $1,503.50 a troy ounce while the nearby April contract fell $5.60, or 0.4 percent, to end at $1,503.00.
Gold trading near $1,500 an ounce has increased buying in silver as a less expensive alternative.
Tuesday, April 26, 2011
Kinross (KGC) (GSS) (AU) (AUY) Close Down as Gold Breaks Another All-Time Record
Gold and silver prices are continuing their upward move, even as gold miners Golden Star Resources (AMEX:GSS), Yamana Gold (NYSE:AUY), AngloGold Ashanti (NYSE:AU) and Kinross Gold Corp. (NYSE:KGC) all closed down, as it seems investors took some profits as the yellow metal continued its upward run.
Gold closed at a new high, jumping $5.30 to settle at $1,509.10 an ounce at the Comex division of the New York Mercantile Exchange. Gold had ended the session above $1,500 for the first time last Thursday.
Today's Gold trading had the Globex June Gold contract trading at $1519.20 before a profit taking sell-off mid to latter part of the trading session.
Silver prices soared to a 31-year high again, settling at $47.15, up $1.09 for the day, or 2.4 percent. April silver futures in New York traded as high as $49.10 an ounce but dropped to close at $47.15 mark.
The more active May silver contract soared just shy of the $50 level, trading as high as $49.82 before falling back.
An incredible number of silver and gold contracts were sold Monday, reaching 109,000 for gold and 199,000 for silver. Silver prices were volatile, moving in a $4.18 range.
The majority of this is based upon the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake.
The DXY index of the U.S. dollar's value against a basket six other major currencies dropped 0.2 percent to 73.99, its lowest level since August 2008. It's down 6.4 percent so far in 2011.
Gold closed at a new high, jumping $5.30 to settle at $1,509.10 an ounce at the Comex division of the New York Mercantile Exchange. Gold had ended the session above $1,500 for the first time last Thursday.
Today's Gold trading had the Globex June Gold contract trading at $1519.20 before a profit taking sell-off mid to latter part of the trading session.
Silver prices soared to a 31-year high again, settling at $47.15, up $1.09 for the day, or 2.4 percent. April silver futures in New York traded as high as $49.10 an ounce but dropped to close at $47.15 mark.
The more active May silver contract soared just shy of the $50 level, trading as high as $49.82 before falling back.
An incredible number of silver and gold contracts were sold Monday, reaching 109,000 for gold and 199,000 for silver. Silver prices were volatile, moving in a $4.18 range.
The majority of this is based upon the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake.
The DXY index of the U.S. dollar's value against a basket six other major currencies dropped 0.2 percent to 73.99, its lowest level since August 2008. It's down 6.4 percent so far in 2011.
Monday, April 25, 2011
Goldcorp (GG) (NCMGY) (GSS) (ANV) Close Up Thursday as Gold Prices Break New Record
Gold futures hit another record high on Thursday, as gold gold for June delivery settled up $4.90 at $1,503.80 an ounce on the Comex. That was a new settlement high. The contract also reached an intraday high at $1,509.60 an ounce earlier in the day. Gold miners Golden Star Resources (AMEX:GSS), Allied Nevada Gold (AMEX:ANV), Goldcorp (NYSE:GG) and Newcrest Mining (OTC:NCMGY.PK) closed up Thursday after most have been running up with the breaking of gold price records on a daily basis recently.
Silver settled at a 31-year high just over $46 an ounce. The most active Thursday silver contract, for May delivery, settled at a record $46.059 a troy ounce, up $1.598 or $3.6 percent.
The front-month contract, for April delivery, settled up $1.597, or 3.4 percent, at $46.062 a troy ounce, a 31-year high. Silver is quickly approaching its record high fo $50.36 an ounce, set in 1980.
A collapsing U.S. dollar continues to be a major part of the gold and silver price story, as the U.S. government refuses to cut spending and limit its size, while the Federal Reserve endlessly has its digital printing presses running, pushing down the value of the greenback.
The dollar index .DXY fell 0.4 percent to 74.092 after falling to 73.735, its lowest level since August 2008.
Other important factors include tightening in China, sovereign debt crisis in Europe, sovereign debt crisis in America, unrest in the Middle East, deepening inflation and impact of the Japanese earthquake.
The weak U.S. dollar and inflation concerns increased the attraction of gold. Spot gold XAU= hit a record high at $1,508.75 before cutting gains, while spot silver XAG= jumped to a 31-year high at $46.68 an ounce.
Spot gold prices rose during the first quarter from $1,380 an ounce on January 3 to $1,430 on March 31.
Newcrest Mining closed Thursday at $45.78, jumping $1.14, or 2.55 percent. Goldcorp ended the day at $55.67, gaining $0.74, or 1.35 percent. Allied Nevada Gold closed at $40.12, rising $0.34, or 0.85 percent. Golden Star Resources ended the session at $3.10, up $0.11, or 3.68 percent.
Silver settled at a 31-year high just over $46 an ounce. The most active Thursday silver contract, for May delivery, settled at a record $46.059 a troy ounce, up $1.598 or $3.6 percent.
The front-month contract, for April delivery, settled up $1.597, or 3.4 percent, at $46.062 a troy ounce, a 31-year high. Silver is quickly approaching its record high fo $50.36 an ounce, set in 1980.
A collapsing U.S. dollar continues to be a major part of the gold and silver price story, as the U.S. government refuses to cut spending and limit its size, while the Federal Reserve endlessly has its digital printing presses running, pushing down the value of the greenback.
The dollar index .DXY fell 0.4 percent to 74.092 after falling to 73.735, its lowest level since August 2008.
Other important factors include tightening in China, sovereign debt crisis in Europe, sovereign debt crisis in America, unrest in the Middle East, deepening inflation and impact of the Japanese earthquake.
The weak U.S. dollar and inflation concerns increased the attraction of gold. Spot gold XAU= hit a record high at $1,508.75 before cutting gains, while spot silver XAG= jumped to a 31-year high at $46.68 an ounce.
Spot gold prices rose during the first quarter from $1,380 an ounce on January 3 to $1,430 on March 31.
Newcrest Mining closed Thursday at $45.78, jumping $1.14, or 2.55 percent. Goldcorp ended the day at $55.67, gaining $0.74, or 1.35 percent. Allied Nevada Gold closed at $40.12, rising $0.34, or 0.85 percent. Golden Star Resources ended the session at $3.10, up $0.11, or 3.68 percent.
Thursday, April 21, 2011
Newcrest (NCMGY) (AEM) (MGN) (GSS) Close Up as Gold Breaks Record Again
Agnico-Eagle (NYSE:AEM), Golden Star Resources (AMEX:GSS), Mines Management (AMEX:MGN) and Newcrest Mining (OTC:NCMGY.PK) closed Up on Wednesday as gold continues to break records on a daily basis recently.
Gold prices soared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery in at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
After breaking the $45 level, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record.
Gold and silver prices continue to soar on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index was plunging 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy, and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
Newcrest Mining closed Wednesday at $44.64, gaining $1.29, or 2.98 percent. Mines Management closed at $2.73, up $0.18, or 7.06 percent. Golden Star Resources ended the trading session at $2.99, rising $0.04, or 1.36 percent. Agnico-Eagle closed at $67.44, jumping $0.46, or 0.69 percent.
Gold prices soared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery in at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
After breaking the $45 level, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record.
Gold and silver prices continue to soar on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index was plunging 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy, and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
Newcrest Mining closed Wednesday at $44.64, gaining $1.29, or 2.98 percent. Mines Management closed at $2.73, up $0.18, or 7.06 percent. Golden Star Resources ended the trading session at $2.99, rising $0.04, or 1.36 percent. Agnico-Eagle closed at $67.44, jumping $0.46, or 0.69 percent.
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