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.
Showing posts with label Comex. Show all posts
Showing posts with label Comex. Show all posts
Wednesday, May 4, 2011
Monday, April 25, 2011
Endeavour Silver (EXK) (CDE) (PAAS) (NXG) (ISVLF) Close Mixed Thursday as Silver Prices Reach 31-Year High
Silver miners Coeur d'Alene Mines (NYSE:CDE), Pan American Silver (NASDAQ:PAAS), Endeavour Silver (AMEX:EXK) and Impact Silver (OTC:ISVLF.PK) closed mixed Thursday as most have been running up with soaring silver prices, which ended the week with silver settling at a 31-year high of 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 of $50.36 an ounce, set in 1980.
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.
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 key influences include deepening inflation, tightening in China, sovereign debt crisis in Europe, sovereign debt crisis in America, unrest in the Middle East and impact of the Japanese earthquake.
The weak U.S. dollar and inflation concerns has boosted the attraction of gold. Spot gold XAU= hit a record high at $1,508.75 before cutting gains. 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.
Impact Silver closed Thursday at $2.43, falling $0.08, or 3.19 percent. Endeavour Silver ended the day at $11.79, closing level with the prior trading day. Pan American Silver closed at $37.42, dropping $0.21, or 0.56 percent. Coeur d'Alene Mines ended the session at $32.05, gaining $0.44, or 1.39 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 of $50.36 an ounce, set in 1980.
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.
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 key influences include deepening inflation, tightening in China, sovereign debt crisis in Europe, sovereign debt crisis in America, unrest in the Middle East and impact of the Japanese earthquake.
The weak U.S. dollar and inflation concerns has boosted the attraction of gold. Spot gold XAU= hit a record high at $1,508.75 before cutting gains. 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.
Impact Silver closed Thursday at $2.43, falling $0.08, or 3.19 percent. Endeavour Silver ended the day at $11.79, closing level with the prior trading day. Pan American Silver closed at $37.42, dropping $0.21, or 0.56 percent. Coeur d'Alene Mines ended the session at $32.05, gaining $0.44, or 1.39 percent.
Thursday, April 21, 2011
Randgold (GOLD) (NG) (IAG) Close Mixed as Gold Breaks Record Again
NovaGold Resources Inc. (AMEX:NG), IAMGOLD Corporation (NYSE:IAG) and Randgold (NASDAQ:GOLD) closed mixed Wednesday as gold continues to break records on a daily basis recently.
Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery 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.
Randgold closed Wednesday at $86.90, gaining $1.58, or 1.85 percent. IAMGOLD Corporation closed at $20.08, falling $0.61, or 2.95 percent. NovaGold Resources Inc. ended the trading session at $13.59, rising $0.41, or 3.11 percent.
Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery 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.
Randgold closed Wednesday at $86.90, gaining $1.58, or 1.85 percent. IAMGOLD Corporation closed at $20.08, falling $0.61, or 2.95 percent. NovaGold Resources Inc. ended the trading session at $13.59, rising $0.41, or 3.11 percent.
Gammon (GRS) (HMY) (NXG) (TRE) Close Up as Gold Breaks Record Again
Harmony Gold Mining (NYSE:HMY), Gammon Gold (NYSE:GRS) Tanzanian Royalty Exploration (AMEX:TRE) and Northgate Minerals (AMEX:NXG) 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.
Northgate Minerals closed Wednesday at $2.88, gaining $0.01, or 0.35 percent. Tanzanian Royalty Exploration closed at $6.32, up $0.02, or 0.32 percent. Gammon Gold ended the trading session at $10.78, rising $0.31, or 2.96 percent. Harmony Gold Mining closed at $15.02, jumping $0.24, or 1.62 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.
Northgate Minerals closed Wednesday at $2.88, gaining $0.01, or 0.35 percent. Tanzanian Royalty Exploration closed at $6.32, up $0.02, or 0.32 percent. Gammon Gold ended the trading session at $10.78, rising $0.31, or 2.96 percent. Harmony Gold Mining closed at $15.02, jumping $0.24, or 1.62 percent.
Goldcorp (GG) (UXG) (EGO) (AU) Close Up as Gold Breaks Record Again
US Gold (AMEX:UXG), Eldorado Gold (NYSE:EGO), Goldcorp (NYSE:GG) and AngloGold Ashanti (NYSE:AU) 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 offering 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.
AngloGold Ashanti closed Wednesday at $49.74, gaining $0.72, or 1.47 percent. Goldcorp closed at $54.93, up $0.26, or 0.48 percent. Eldorado Gold Corporation ended the trading session at $18.04, rising $0.07, or 0.39 percent. US Gold closed at $9.58, jumping $0.42, or 4.58 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 offering 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.
AngloGold Ashanti closed Wednesday at $49.74, gaining $0.72, or 1.47 percent. Goldcorp closed at $54.93, up $0.26, or 0.48 percent. Eldorado Gold Corporation ended the trading session at $18.04, rising $0.07, or 0.39 percent. US Gold closed at $9.58, jumping $0.42, or 4.58 percent.
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.
Endeavour (EXK) (FVITF) (MGN) (SSRI) Close Mixed as Silver Jumps Again
Fortuna (OTC:FVITF.PK), Mines Management (AMEX:MGN), Silver Standard Resources (NASDAQ:SSRI) and Endeavour Silver (AMEX:EXK) closed mixed Wednesday as silver continues its upward climb gold to break records on almost a daily basis.
After surpassing the $45 level Wednesday, 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. Silver traded between $43.835 and $45.400.
Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery 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.
Gold and silver prices continue to surge on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index fell 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 the outlook 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.
Silver Standard Resources closed Wednesday at $34.72, up $0.75, or 2.21 percent. Mines Management closed at $2.73, gaining $0.18, or 7.06 percent. Fortuna ended the trading day at $6.26, falling $0.02, or 0.32 percent. Endeavour Silver closed at $11.79, up $0.10, or 0.86 percent.
After surpassing the $45 level Wednesday, 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. Silver traded between $43.835 and $45.400.
Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery 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.
Gold and silver prices continue to surge on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index fell 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 the outlook 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.
Silver Standard Resources closed Wednesday at $34.72, up $0.75, or 2.21 percent. Mines Management closed at $2.73, gaining $0.18, or 7.06 percent. Fortuna ended the trading day at $6.26, falling $0.02, or 0.32 percent. Endeavour Silver closed at $11.79, up $0.10, or 0.86 percent.
Friday, April 15, 2011
Diversifieds BHP (BHP) (VALE) (RIO) (TCK) (FCX) Trade Mixed
Shares of diversified miners such as BHP Billiton (NYSE:BHP), Rio Tinto (NYSE:RIO), Vale SA (NYSE:VALE), Teck Resources (NYSE:TCK) and Freeport-McMoran (NYSE:FCX) were trading mixed Thursday, metals prices moved in various directions.
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. May copper fell 1.05 cents to settle at $4.284 a pound.
Iron ore demand is expected to remain tight over the medium term, and over the long term should jump in response to the rebuilding needs coming from the consequences of the earthquake in Japan.
Gold for June delivery rose $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange.
Spot gold was up 1.4 percent to $1,474.30 an ounce, closing in on its record $1,476.21 set on Monday. Silver rose $1.427, or 3.6 percent, to $41.66 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.
Teck Resources closed Thursday at $52.30, falling $0.59, or 1.12 percent. Rio Tinto closed at $71.70, up $0.04, or 0.06 percent. Vale SA ended the day at $32.65, up $0.64, or 2.01 percent. BHP Billiton closed at $100.42, rising $0.17, or 0.17 percent. Freeport-McMoran closed at $51.93, dropping $0.38, or 0.73 percent.
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. May copper fell 1.05 cents to settle at $4.284 a pound.
Iron ore demand is expected to remain tight over the medium term, and over the long term should jump in response to the rebuilding needs coming from the consequences of the earthquake in Japan.
Gold for June delivery rose $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange.
Spot gold was up 1.4 percent to $1,474.30 an ounce, closing in on its record $1,476.21 set on Monday. Silver rose $1.427, or 3.6 percent, to $41.66 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.
Teck Resources closed Thursday at $52.30, falling $0.59, or 1.12 percent. Rio Tinto closed at $71.70, up $0.04, or 0.06 percent. Vale SA ended the day at $32.65, up $0.64, or 2.01 percent. BHP Billiton closed at $100.42, rising $0.17, or 0.17 percent. Freeport-McMoran closed at $51.93, dropping $0.38, or 0.73 percent.
Ventana (VEN) (CSI) (AAL) Trade Mixed as Gold, Silver Rise Again
Shares of most gold miners were up as gold soared again Thursday, although Ventana Gold (TSE:VEN), Colossus Minerals (TSE:CSI) and Anglo American (LSE:AAL) trading mixed.
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.
Ventana Gold closed Thursday level in Toronto at $13.05. Colossus Minerals closed at $8.41, up $0.02, or 0.24 percent. Anglo American closed in London at 3,136.00, falling 10.50, or 0.33 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.
Ventana Gold closed Thursday level in Toronto at $13.05. Colossus Minerals closed at $8.41, up $0.02, or 0.24 percent. Anglo American closed in London at 3,136.00, falling 10.50, or 0.33 percent.
Wednesday, April 13, 2011
Harmony Gold (HMY) (IAG) (EGO) (AEM) Drop with Broader Commodities
Gold prices fell Tuesday after jumping recently, as oil prices fell, dragging commodities in general down with them. Gold miners like Harmony Gold (HMY), Iamgold (NYSE:IAG) Eldorado Gold (NYSE:EGO) and Agnico-Eagle (NYSE:AEM) all closed down on the day
Gold for June delivery fell $14.50, or 1%, to $1,453.60 an ounce on the Comex division of the New York Mercantile Exchange. It had traded as low as $1,445 an ounce.
Weak news was enough to push the price of gold and gold miners down, as the market seemed to be looking for any excuse for gold prices to correct. The U.S. dollar fell again, making the downward move even more counterintuitive to the fundamentals.
Agnico-Eagle closed Tuesday at $65.13, down $0.41, or 0.63 percent. Eldorado Gold closed at $17.36, falling $0.23, or 1.31 percent. Iamgold ended the session at $21.93, declining $0.64, or 2.84 percent. Harmony Gold closed at $14.78, dropping $0.30, or 1.99 percent.
Gold for June delivery fell $14.50, or 1%, to $1,453.60 an ounce on the Comex division of the New York Mercantile Exchange. It had traded as low as $1,445 an ounce.
Weak news was enough to push the price of gold and gold miners down, as the market seemed to be looking for any excuse for gold prices to correct. The U.S. dollar fell again, making the downward move even more counterintuitive to the fundamentals.
Agnico-Eagle closed Tuesday at $65.13, down $0.41, or 0.63 percent. Eldorado Gold closed at $17.36, falling $0.23, or 1.31 percent. Iamgold ended the session at $21.93, declining $0.64, or 2.84 percent. Harmony Gold closed at $14.78, dropping $0.30, or 1.99 percent.
Tuesday, April 12, 2011
Ivanhoe Mines Ltd. (IVN) (RGLD) (EGO) Down as Gold Prices Drop
Gold prices took a breather Monday after soaring for several days, ending up with gold miners like Ivanhoe Mines Ltd. (NYSE:IVN), Royal Gold (Nasdaq:RGLD) and Eldorado Gold Corporation (NYSE:EGO) dropping in price.
On Monday gold prices closed lower, falling $6 to $1,468 an ounce on the Comex division of the New York Mercantile Exchange. The contract had set a new all-time in the last session, reaching $1,478 a troy ounce.
June gold settlements were $1,468.10, down $7.90; Range was $1,465.40-$1,472.80.
Much of the recent jump in gold prices is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.
A stronger dollar on Monday pressured gold prices lower. The U.S. dollar battled back to gain lost ground from the euro, with the European currency trading at $1.4426, down from $1.4480 on Friday.
Ivanhoe Mines closed Monday at $27.52, falling $0.59, or 2.10 percent. Royal Gold closed at $53.11, down $0.63, or 4.58 percent. Eldorado Gold Corporation closed at $17.59, dropping $0.46, or 2.55 percent.
On Monday gold prices closed lower, falling $6 to $1,468 an ounce on the Comex division of the New York Mercantile Exchange. The contract had set a new all-time in the last session, reaching $1,478 a troy ounce.
June gold settlements were $1,468.10, down $7.90; Range was $1,465.40-$1,472.80.
Much of the recent jump in gold prices is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.
A stronger dollar on Monday pressured gold prices lower. The U.S. dollar battled back to gain lost ground from the euro, with the European currency trading at $1.4426, down from $1.4480 on Friday.
Ivanhoe Mines closed Monday at $27.52, falling $0.59, or 2.10 percent. Royal Gold closed at $53.11, down $0.63, or 4.58 percent. Eldorado Gold Corporation closed at $17.59, dropping $0.46, or 2.55 percent.
Thursday, November 18, 2010
Ivanhoe (NYSE:IVN ), Gammon (NYSE:GRS), Yamana (NYSE:AUY) Make Big Moves Up as Gold Prices Soar
Ivanhoe Mines (NYSE:IVN ), Gammon Gold (NYSE:GRS) and Yamana Gold(NYSE:AUY) have all made big upward moves in their share prices today as gold prices came roaring back, as the U.S. dollar fell back to earth where it belongs.
Spot gold prices rose by $18.30, increasing to $1,354.10 an ounce as of this writing. Gold futures for December delivery rose to $1,346.90 on the Comex division of the New York Mercantile Exchange, increasing $10, or 0.8 percent.
The U.S. dollar fell on news Ireland will probably receive billions in order to protect them from failing because of its sovereign debt load, which it is in danger of defaulting on.
Gold is trading today in response to the plunge in value of the dollar.
Yamana Gold was trading at $11.47, rising by $0.33, or 2.96 percent, as of 2:33 PM EST. Gammon Gold was at $6.54, increasing $0.27, or 4.31 percent. Ivanhoe was up to $24.45, gaining $0.83, or 3.51 percent.
Spot gold prices rose by $18.30, increasing to $1,354.10 an ounce as of this writing. Gold futures for December delivery rose to $1,346.90 on the Comex division of the New York Mercantile Exchange, increasing $10, or 0.8 percent.
The U.S. dollar fell on news Ireland will probably receive billions in order to protect them from failing because of its sovereign debt load, which it is in danger of defaulting on.
Gold is trading today in response to the plunge in value of the dollar.
Yamana Gold was trading at $11.47, rising by $0.33, or 2.96 percent, as of 2:33 PM EST. Gammon Gold was at $6.54, increasing $0.27, or 4.31 percent. Ivanhoe was up to $24.45, gaining $0.83, or 3.51 percent.
Gold Prices Today Pressing Toward Largest Gain in Two Weeks
The anticipated and expected drop in the value of the U.S. dollar is playing a big part in the increase in gold prices today, as it dropped, pushing up the price of commodities, and gold in particular.
Gold futures for December delivery on the Comex in New York rose to $17.70, to $1,354.60 an ounce at about 11:20 AM EDT. That is the largest gain since November 4, if it is able to close at that, or higher.
Spot gold prices were up by $18.30, rising to $1,354.10 an ounce at 1:49 PM EDT.
The only reason the U.S. dollar was stronger recently was because its move up against the euro, which was again under pressure because of the seemingly endless sovereign debt crisis, which is far from over, and is still hidden in obscurity and dishonesty in some countries, making it difficult to ascertain the depth of the crisis.
Greece's recent announcement they had understated the extent of their deficit is a case in point.
The question for gold now is if the correction is over or if there is more room to go down.
Barring unforeseen circumstances, it seems gold prices may be ready to take off again, but only time will tell if that's the correct assessment.
Gold futures for December delivery on the Comex in New York rose to $17.70, to $1,354.60 an ounce at about 11:20 AM EDT. That is the largest gain since November 4, if it is able to close at that, or higher.
Spot gold prices were up by $18.30, rising to $1,354.10 an ounce at 1:49 PM EDT.
The only reason the U.S. dollar was stronger recently was because its move up against the euro, which was again under pressure because of the seemingly endless sovereign debt crisis, which is far from over, and is still hidden in obscurity and dishonesty in some countries, making it difficult to ascertain the depth of the crisis.
Greece's recent announcement they had understated the extent of their deficit is a case in point.
The question for gold now is if the correction is over or if there is more room to go down.
Barring unforeseen circumstances, it seems gold prices may be ready to take off again, but only time will tell if that's the correct assessment.
Tuesday, November 16, 2010
Gold Prices Today: How Low Will They Go?
We are definitely in the midst of the long-anticipated gold price correction, as gold prices today have plummeted in futures and spot gold.
Gold for December delivery was falling by $31.60 to $1,333.90 an ounce at the Comex division of the New York Mercantile Exchange. Spot gold was down by $26.40 to $1,334.10 an ounce.
With some Asian countries thought to be poised to raise interest rates, concerns it could expand to a number of countries has gold investors on edge.
Today South Korea raised their interest rates, which has been the impetus behind the quick drop in the price of gold.
The U.S. dollar index was also up, rising by $0.79, to reach $79.14. The euro continues its plunge against the U.S. dollar, going down to $1.35 against the greenback.
Even though China was the country most believed would raise their interest rates first, the Bank of Korea did it first, raising rates 25 basis points to 2.50 percent. All of this was precipitated by the consumer price index of China rising to 4.4 percent, which was higher than expected, generating the interest rate speculation and probability.
Rising interest rates work to rein in inflation, which is one of the key purposes of holding gold. The more countries raise interest rates, the more possibility gold prices will continue to have downward pressure on them; at least for the short term.
While inflation is one of the factors, there are many other support mechanisms in place for gold prices, and once the euro/U.S. dollar reverse direction, we'll probably see gold do the same, although announcements from other Asian countries they're going to raise interest rates will cause a more volatile gold market.
Gold for December delivery was falling by $31.60 to $1,333.90 an ounce at the Comex division of the New York Mercantile Exchange. Spot gold was down by $26.40 to $1,334.10 an ounce.
With some Asian countries thought to be poised to raise interest rates, concerns it could expand to a number of countries has gold investors on edge.
Today South Korea raised their interest rates, which has been the impetus behind the quick drop in the price of gold.
The U.S. dollar index was also up, rising by $0.79, to reach $79.14. The euro continues its plunge against the U.S. dollar, going down to $1.35 against the greenback.
Even though China was the country most believed would raise their interest rates first, the Bank of Korea did it first, raising rates 25 basis points to 2.50 percent. All of this was precipitated by the consumer price index of China rising to 4.4 percent, which was higher than expected, generating the interest rate speculation and probability.
Rising interest rates work to rein in inflation, which is one of the key purposes of holding gold. The more countries raise interest rates, the more possibility gold prices will continue to have downward pressure on them; at least for the short term.
While inflation is one of the factors, there are many other support mechanisms in place for gold prices, and once the euro/U.S. dollar reverse direction, we'll probably see gold do the same, although announcements from other Asian countries they're going to raise interest rates will cause a more volatile gold market.
Yamana (NYSE:AUY), Silver Wheaton (NYSE:SLW), Newmont (NYSE:NEM) Drop Later in Session
Even though silver and gold futures gained on Monday, the majority of gold and silver miners were lower as the U.S. dollar was stronger on the day.
Gold for December delivery was up $3 to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange.
Silver for December delivery increased by 58 cents, or 0.2%, to $26.09 an ounce.
The U.S. dollar index rose by 0.45 percent to $78.43 while the euro weakened, falling to $1.36 against the dollar.
Yamana closed Monday at $11.46, losing $0.24, or 2.05 percent. Silver Wheaton ended the trading session at $32.99, falling $0.80, or 2.37 percent. Newmont Mining closed at $60.66, dropping $0.89, or 1.45 percent.
According to forecasters surveyed by the Philadelphia Federal Reserve, the U.S. economy is expected to grow at a slower pace than thought, and the 9.6 percent unemployment rate should remain level.
Gold for December delivery was up $3 to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange.
Silver for December delivery increased by 58 cents, or 0.2%, to $26.09 an ounce.
The U.S. dollar index rose by 0.45 percent to $78.43 while the euro weakened, falling to $1.36 against the dollar.
Yamana closed Monday at $11.46, losing $0.24, or 2.05 percent. Silver Wheaton ended the trading session at $32.99, falling $0.80, or 2.37 percent. Newmont Mining closed at $60.66, dropping $0.89, or 1.45 percent.
According to forecasters surveyed by the Philadelphia Federal Reserve, the U.S. economy is expected to grow at a slower pace than thought, and the 9.6 percent unemployment rate should remain level.
Coeur d'Alene Mines (NYSE:CDE), Goldcorp (NYSE:GG), Pan American (Nasdaq:PAAS) Drop
The rising price of gold and silver futures wasn't enough to help miners like Coeur d'Alene Mines (NYSE:CDE), Goldcorp (NYSE:GG) and Pan American Silver (Nasdaq:PAAS), as many gold and silver companies dropped in conjunction with spot prices.
Gold futures for December delivery settled up $3 to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange.
Silver for December delivery rose 58 cents, or 0.2%, to $26.09 an ounce.
The U.S. dollar index was stronger Monday, rising to $78.43, a gain of 0.45 percent. The euro fell to $1.36 against the dollar.
Pan American Silver closed Monday at $35.89, falling $0.89, or 2.42 percent. Goldcorp ended at $45.93, losing $0.51, or 1.10 percent. Coeur d'Alene Mines ended the trading day at $22.82, dropping $0.14, or 0.61 percent.
Gold futures for December delivery settled up $3 to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange.
Silver for December delivery rose 58 cents, or 0.2%, to $26.09 an ounce.
The U.S. dollar index was stronger Monday, rising to $78.43, a gain of 0.45 percent. The euro fell to $1.36 against the dollar.
Pan American Silver closed Monday at $35.89, falling $0.89, or 2.42 percent. Goldcorp ended at $45.93, losing $0.51, or 1.10 percent. Coeur d'Alene Mines ended the trading day at $22.82, dropping $0.14, or 0.61 percent.
Hecla Mining (NYSE:HL), Eldorado (NYSE:EGO), Barrick (NYSE:ABX) All Down, Even Though Gold, Silver Prices Up
Even though gold and silver futures rose today, Hecla Mining Company(NYSE:HL), Eldorado Gold (NYSE:EGO), Barrick Gold (NYSE:ABX) weren't able to get enough push and fell on the day.
For gold, for December delivery rose to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange, settling up by $3.
Silver for December delivery increased 58 cents an ounce, to $26.09, gaining 0.2 percent.
Hecla closed at $8.31, losing $0.10, or 1.19 percent. Eldorado Gold ended the trading session at $17.06, falling by $0.73, or 4.10 percent. Barrick was at $50.15, dropping $0.58, or 1.14 percent.
The U.S. dollar index pushed up by 0.45 percent to $78.43 in response to a weaker euro, which was falling to $1.36 against the dollar.
For gold, for December delivery rose to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange, settling up by $3.
Silver for December delivery increased 58 cents an ounce, to $26.09, gaining 0.2 percent.
Hecla closed at $8.31, losing $0.10, or 1.19 percent. Eldorado Gold ended the trading session at $17.06, falling by $0.73, or 4.10 percent. Barrick was at $50.15, dropping $0.58, or 1.14 percent.
The U.S. dollar index pushed up by 0.45 percent to $78.43 in response to a weaker euro, which was falling to $1.36 against the dollar.
Monday, October 11, 2010
Gold Prices Today Pick Up After Noon
Gold prices today plummeted in morning trading, as on the Comex division of the New York Mercantile Exchange they dropped to as low as $1,341.10.
Spot gold also rebounded to surpass the $1,350 an ounce mark, also dropping to almost $1,340 earlier in the trading session.
Major gold miners like Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) were all still down at about 1:00, although Barrick was closing in on going positive.
SPDR Gold Trust (NYSEArca:GLD) has risen to $132.29, gaining $0.63, or 0.46 percent.
Kinross Gold Corporation (NYSE:KGC), Eldorado Gold (NYSE:EGO) and Agnico-Eagle Mines Limited (NYSE:AEM) were all flirting with going into positive a little after 1:00 PM EDT as well, as gold prices continue to slowly rise in afternoon trading.
Spot gold also rebounded to surpass the $1,350 an ounce mark, also dropping to almost $1,340 earlier in the trading session.
Major gold miners like Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) were all still down at about 1:00, although Barrick was closing in on going positive.
SPDR Gold Trust (NYSEArca:GLD) has risen to $132.29, gaining $0.63, or 0.46 percent.
Kinross Gold Corporation (NYSE:KGC), Eldorado Gold (NYSE:EGO) and Agnico-Eagle Mines Limited (NYSE:AEM) were all flirting with going into positive a little after 1:00 PM EDT as well, as gold prices continue to slowly rise in afternoon trading.
Friday, October 8, 2010
Gold Prices Today Rise as Fed Expected to Inflate
As the economic news continues to get worse, gold investors continue to push gold prices up as expectations the Fed will inflate or implement quantitative easing sometime soon, grows.
Gold futures' prices today have surged to $1,346.20 for December delivery, rising $11.20 on the Comex in New York.
Also continuing to fuel the gold price bonanza is the ongoing collapse of the U.S. dollar.
Much this is being precipitated by the release of the job report today, which showed another 95,000 jobs being shed. That has caused most to believe the Federal Reserve will inflate again sometime very soon. They've indicated numerous times in the last couple of months they're ready and willing to do it if they perceive the need to. Since they always perceive the need to, it's a surety they're going to.
That will continue to put downward pressure on the U.S. dollar and push the price up gold up even further.
Finally, there is the resultant inflation which will come from further pouring of money into the economy, which also works to gold's advantage. The perfect storm for gold prices continues, and nothing will hinder that from continuing on for a long time.
Gold futures' prices today have surged to $1,346.20 for December delivery, rising $11.20 on the Comex in New York.
Also continuing to fuel the gold price bonanza is the ongoing collapse of the U.S. dollar.
Much this is being precipitated by the release of the job report today, which showed another 95,000 jobs being shed. That has caused most to believe the Federal Reserve will inflate again sometime very soon. They've indicated numerous times in the last couple of months they're ready and willing to do it if they perceive the need to. Since they always perceive the need to, it's a surety they're going to.
That will continue to put downward pressure on the U.S. dollar and push the price up gold up even further.
Finally, there is the resultant inflation which will come from further pouring of money into the economy, which also works to gold's advantage. The perfect storm for gold prices continues, and nothing will hinder that from continuing on for a long time.
Wednesday, September 8, 2010
Gold Soars to Record Close on Sovereign Debt Crisis
We've talked about it quite a few times on Everything Gold that the so-called stress tests on banks in Europe were a joke, and the idea that the European sovereign debt crisis had been avoided on that and the selling of some bonds to the private sector was so ludicrous as to not be taken seriously by anyone that has the least bit of understanding of economics.
The record-breaking close of gold today underscores the reality that investors know the shenanigans going on in Europe, and are ready at the drop of a hat to plow their money back into gold as the reality of the ongoing recession continues to play itself out.
A number of commentators, including us, said from the beginning of the stress tests that something smelled, and they were far from being tough in any way. That has proven to be true already, and we'll see all this unravel before our eyes again.
It'll be interesting to see what games and gimmicks are employed by governments as the truth gets out to the general public.
As far as the record price of gold, for December delivery it closed at $1,259.30, a gain of $8.20, on the Comex division of the New York Mercantile Exchange.
According to the Wall Street Journal, a total of 91 banks purposely used lenient and slack parameters when they performed the stress tests, again though, something that was talked about when they were first performed.
What they did was hide the actual exposure they had to sovereign debt, giving the appearance of health and solvency.
This is why gold prices have continued to have support, even when it appeared there were some economic strength emerging. We knew the data were being cooked, along with the books, and it was only a matter of time before that was revealed to be what it was.
And if the anchor nation of the European Union, Germany, must raise about $135 billion for its 10 largest banks, where does that leave the rest of Europe? I think we all know the answer to that.
The ongoing disaster of the U.S. economy also offers another reason gold will have solid growth for some time to come.
There will be some global economic growth, assuming China and India can bear their part, but even there questions are emerging as to how much they can carry the global economy, as America will no longer be a player in that regard for some time to come, as consumers continue to pay down debt and increase their savings.
The record-breaking close of gold today underscores the reality that investors know the shenanigans going on in Europe, and are ready at the drop of a hat to plow their money back into gold as the reality of the ongoing recession continues to play itself out.
A number of commentators, including us, said from the beginning of the stress tests that something smelled, and they were far from being tough in any way. That has proven to be true already, and we'll see all this unravel before our eyes again.
It'll be interesting to see what games and gimmicks are employed by governments as the truth gets out to the general public.
As far as the record price of gold, for December delivery it closed at $1,259.30, a gain of $8.20, on the Comex division of the New York Mercantile Exchange.
According to the Wall Street Journal, a total of 91 banks purposely used lenient and slack parameters when they performed the stress tests, again though, something that was talked about when they were first performed.
What they did was hide the actual exposure they had to sovereign debt, giving the appearance of health and solvency.
This is why gold prices have continued to have support, even when it appeared there were some economic strength emerging. We knew the data were being cooked, along with the books, and it was only a matter of time before that was revealed to be what it was.
And if the anchor nation of the European Union, Germany, must raise about $135 billion for its 10 largest banks, where does that leave the rest of Europe? I think we all know the answer to that.
The ongoing disaster of the U.S. economy also offers another reason gold will have solid growth for some time to come.
There will be some global economic growth, assuming China and India can bear their part, but even there questions are emerging as to how much they can carry the global economy, as America will no longer be a player in that regard for some time to come, as consumers continue to pay down debt and increase their savings.
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