After blowing past the $1,500 an ounce mark on Tuesday, gold prices settled just under the important psychological barrier at $1,495.10, as gold miners Centerra Gold (TSE:CG), Alamos Gold (TSE:AGI), Aura Minerals (TSE:ORA) and Gabriel Resources (TSE:GBU) closed mixed on the day.
Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.
Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.
Gabriel Resources closed Tuesday in Toronto at $7.04, falling $0.02, or 0.28 percent. Aura Minerals ended the session at $17.68, level with Monday's close. Alamos Gold closed at $14.71, also level with the close on Monday. Centerra Gold closed the day at $17.49, gaining $0.395, or 2.28 percent.
Showing posts with label Aura Minerals. Show all posts
Showing posts with label Aura Minerals. Show all posts
Wednesday, April 20, 2011
Friday, April 15, 2011
Alamos (AGI) (GBU) (CG) Up, (ORA) Down as Gold, Silver Rise Again
Shares of most gold miners were up as gold soared again Thursday, with Aura Minerals (TSE:ORA), Gabriel Resources (TSE:GBU), Centerra Gold (TSE:CG) and Alamos Gold (TSE:AGI) trading up in Toronto, with the exception of Aura.
Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.
The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.
The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.
In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce.
Alamos Gold closed in Toronto Thursday at $14.25, gaining $0.62, or 4.55 percent. Centerra Gold closed at $17.41, up $0.27, or 1.58 percent. Gabriel Resources ended the session at $7.20, rising $0.28, or 4.05 percent. Aura Minerals closed down at $2.92, falling $0.08, or 2.67 percent.
Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.
The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.
The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.
In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce.
Alamos Gold closed in Toronto Thursday at $14.25, gaining $0.62, or 4.55 percent. Centerra Gold closed at $17.41, up $0.27, or 1.58 percent. Gabriel Resources ended the session at $7.20, rising $0.28, or 4.05 percent. Aura Minerals closed down at $2.92, falling $0.08, or 2.67 percent.
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