After a rough 2011, which followed a record-breaking 2010, John Paulson changed his positions in gold-related stocks SPDR Gold Trust ETF (NYSE:GLD), Randgold Resources (NASDAQ:GOLD), Iamgold (NYSE:IAG) and Barrick Gold (NYSE:ABX).
SPDR Gold Trust ETF (GLD), which continues to remain his largest holding, was lowered by Paulson by close to 3 million shares, now owning 17.3 million shares in the gold ETF. As of December 31, SPDR Gold Trust shares held by Paulson had a market value $2.6 billion.
Randgold Resources (GOLD), Iamgold (IAG) and Barrick Gold (ABX) were among the 10 positions Paulson increased his holdings in, a nod towards the continued belief that some gold miners are still undervalued when measured against the price of gold.
Other gold holdings of Paulson include NovaGold (AMEX:NG), Gold Fields (NYSE:GFI) and AngloGold Ashanti (NYSE:AU).
Showing posts with label NovaGold Resources. Show all posts
Showing posts with label NovaGold Resources. Show all posts
Wednesday, February 15, 2012
Wednesday, December 28, 2011
Geokinetics (GOK) (REE) (TRX) (EXE) (NG) (HKN) Biggest AMEX Losers
Geokinetics Inc. (GOK), Rare Element (REE), Tanzanian Royalty (TRX), Crexendo Inc. (EXE), NovaGold Resources Inc. (NG) and Hkn Inc. (HKN) were the biggest losers on the AMEX Tuesday.
Geokinetics Inc. (GOK) ended the session down 6.61 percent, closing at $2.26. They traded in a range of $2.26 to $2.44. A total of 60,544 shares changed hands.
Rare Element (REE) ended the session down 6.48 percent, closing at $3.61. They traded in a range of $3.61 to $3.90. A total of 579,001 shares changed hands.
Tanzanian Royalty (TRX) ended the session down 5.69 percent, closing at $2.32. They traded in a range of $2.30 to $2.46. A total of 245,275 shares changed hands.
Crexendo Inc. (EXE) ended the session down 5.66 percent, closing at $2.50. They traded in a range of $2.40 to $2.61. A total of 33,938 shares changed hands.
NovaGold Resources Inc. (NG) ended the session down 5.47 percent, closing at $8.29. They traded in a range of $8.23 to $8.70. A total of 1,402,038 shares changed hands.
Hkn Inc. (HKN) ended the session down 4.65 percent, closing at $2.46. They traded in a range of $2.46 to $2.60. A total of 26,071 shares changed hands.
Geokinetics Inc. (GOK) ended the session down 6.61 percent, closing at $2.26. They traded in a range of $2.26 to $2.44. A total of 60,544 shares changed hands.
Rare Element (REE) ended the session down 6.48 percent, closing at $3.61. They traded in a range of $3.61 to $3.90. A total of 579,001 shares changed hands.
Tanzanian Royalty (TRX) ended the session down 5.69 percent, closing at $2.32. They traded in a range of $2.30 to $2.46. A total of 245,275 shares changed hands.
Crexendo Inc. (EXE) ended the session down 5.66 percent, closing at $2.50. They traded in a range of $2.40 to $2.61. A total of 33,938 shares changed hands.
NovaGold Resources Inc. (NG) ended the session down 5.47 percent, closing at $8.29. They traded in a range of $8.23 to $8.70. A total of 1,402,038 shares changed hands.
Hkn Inc. (HKN) ended the session down 4.65 percent, closing at $2.46. They traded in a range of $2.46 to $2.60. A total of 26,071 shares changed hands.
Wednesday, December 14, 2011
Arrhythmia (HRT) (FSI) (NG) (PAL) (MGN) Biggest AMEX Losers
Arrhythmia Research (AMEX:HRT), Flexible Solutions (AMEX:FSI), NovaGold Resources Inc. (AMEX:NG), North American Palladium Ltd. (AMEX:PAL), Mines Management Inc. (AMEX:MGN) and Tanzanian Royalty (AMEX:TRX) were the biggest losers on the AMEX, Tuesday, December 13.
Arrhythmia Research (HRT) ended the day down 12.11 percent, closing at $3.12. They traded in a range of $3.12 to $3.75. A total of 15,342 shares changed hands.
Flexible Solutions (FSI) ended the day down 10.77 percent, closing at $2.32. They traded in a range of $2.30 to $2.59. A total of 127,557 shares changed hands.
NovaGold Resources Inc. (NG) ended the day down 9.71 percent, closing at $9.48. They traded in a range of $9.45 to $10.83. A total of 2,966,328 shares changed hands.
North American Palladium Ltd. (PAL) ended the day down 9.30 percent, closing at $2.73. They traded in a range of $2.68 to $3.05. A total of 1,701,846 shares changed hands.
Mines Management Inc. (MGN) ended the day down 8.81 percent, closing at $2.07. They traded in a range of $2.06 to $2.39. A total of 266,628 shares changed hands.
Tanzanian Royalty (TRX) ended the day down 8.42 percent, closing at $2.72. They traded in a range of $2.70 to $3.04. A total of 413,323 shares changed hands.
Arrhythmia Research (HRT) ended the day down 12.11 percent, closing at $3.12. They traded in a range of $3.12 to $3.75. A total of 15,342 shares changed hands.
Flexible Solutions (FSI) ended the day down 10.77 percent, closing at $2.32. They traded in a range of $2.30 to $2.59. A total of 127,557 shares changed hands.
NovaGold Resources Inc. (NG) ended the day down 9.71 percent, closing at $9.48. They traded in a range of $9.45 to $10.83. A total of 2,966,328 shares changed hands.
North American Palladium Ltd. (PAL) ended the day down 9.30 percent, closing at $2.73. They traded in a range of $2.68 to $3.05. A total of 1,701,846 shares changed hands.
Mines Management Inc. (MGN) ended the day down 8.81 percent, closing at $2.07. They traded in a range of $2.06 to $2.39. A total of 266,628 shares changed hands.
Tanzanian Royalty (TRX) ended the day down 8.42 percent, closing at $2.72. They traded in a range of $2.70 to $3.04. A total of 413,323 shares changed hands.
Thursday, November 17, 2011
Mexco (MXC) (RVM) (NG) (HWG) (MGN) (LTS) Biggest AMEX Gainers Wednesday
Mexco Energy (MXC), Revett Minerals Inc. (RVM), NovaGold Resources Inc. (NG), Hallwood Group (HWG), Mines Management Inc. (MGN) and Ladenburg Thalmann (LTS) were the biggest gainers on the AMEX Wednesday, November 16.
Mexco Energy (MXC) ended the day up 26.79 percent, closing at $7.95. They traded in a range of $6.34 to $9.00. A total of 55,371 shares changed hands.
Revett Minerals Inc. (RVM) ended the day up 25.88 percent, closing at $5.35. They traded in a range of $4.22 to $5.90. A total of 841,581 shares changed hands.
NovaGold Resources Inc. (NG) ended the day up 24.29 percent, closing at $10.95. They traded in a range of $8.91 to $11.49. A total of 18,152,597 shares changed hands.
Hallwood Group (HWG) ended the day up 13.15 percent, closing at $12.99. They traded in a range of $11.72 to $14.05. A total of 11,563 shares changed hands.
Mines Management Inc. (MGN) ended the day up 11.46 percent, closing at $2.14. They traded in a range of $1.85 to $2.19. A total of 257,856 shares changed hands.
Ladenburg Thalmann (LTS) ended the day up 9.74 percent, closing at $2.14. They traded in a range of $1.91 to $2.28. A total of 1,164,119 shares changed hands.
Mexco Energy (MXC) ended the day up 26.79 percent, closing at $7.95. They traded in a range of $6.34 to $9.00. A total of 55,371 shares changed hands.
Revett Minerals Inc. (RVM) ended the day up 25.88 percent, closing at $5.35. They traded in a range of $4.22 to $5.90. A total of 841,581 shares changed hands.
NovaGold Resources Inc. (NG) ended the day up 24.29 percent, closing at $10.95. They traded in a range of $8.91 to $11.49. A total of 18,152,597 shares changed hands.
Hallwood Group (HWG) ended the day up 13.15 percent, closing at $12.99. They traded in a range of $11.72 to $14.05. A total of 11,563 shares changed hands.
Mines Management Inc. (MGN) ended the day up 11.46 percent, closing at $2.14. They traded in a range of $1.85 to $2.19. A total of 257,856 shares changed hands.
Ladenburg Thalmann (LTS) ended the day up 9.74 percent, closing at $2.14. They traded in a range of $1.91 to $2.28. A total of 1,164,119 shares changed hands.
Tuesday, October 18, 2011
Apple (AAPL) (NG) (AIXG) (BLK) (ALK) (BEN) Price Targets Changed
Apple, Inc (NASDAQ: AAPL), NovaGold Resources Inc. (NYSE: NG), Aixtron AG (NASDAQ: AIXG), BlackRock, Inc. (NYSE: BLK), Alaska Air (NYSE: ALK) and Franklin Resources, Inc. (NYSE: BEN) had price targets on them adjusted by analysts.
Apple, Inc. (AAPL) had its price target raised by Citigroup (NYSE:C) to $500.00. They have a “Buy” rating on the company.
NovaGold Resources Inc. (NG) had its price target lowered by RBC Capital from $16.00 to $11.00. They have a “Sector Perform” rating on the company.
Aixtron AG (AIXG) had its price target lowered by Canaccord Genuity from $23.00 to $8.00. They have a “Sell” rating on the company.
BlackRock, Inc. (BLK) had its price target lowered by Ticonderoga from $225.00 to $190.00. They have a “Buy” rating on the company.
Alaska Air (ALK) had its price target raised by Ticonderoga from $81.00 to $83.00. They have a “Buy” rating on the company.
Franklin Resources, Inc. (BEN) had its price target lowered by Ticonderoga from $135.00 to $122.00. They have a “Buy” rating on the company.
Apple, Inc. (AAPL) had its price target raised by Citigroup (NYSE:C) to $500.00. They have a “Buy” rating on the company.
NovaGold Resources Inc. (NG) had its price target lowered by RBC Capital from $16.00 to $11.00. They have a “Sector Perform” rating on the company.
Aixtron AG (AIXG) had its price target lowered by Canaccord Genuity from $23.00 to $8.00. They have a “Sell” rating on the company.
BlackRock, Inc. (BLK) had its price target lowered by Ticonderoga from $225.00 to $190.00. They have a “Buy” rating on the company.
Alaska Air (ALK) had its price target raised by Ticonderoga from $81.00 to $83.00. They have a “Buy” rating on the company.
Franklin Resources, Inc. (BEN) had its price target lowered by Ticonderoga from $135.00 to $122.00. They have a “Buy” rating on the company.
Monday, August 22, 2011
Gold Jumping on QE3 Speculation
Speculation the Federal Reserve will introduce another round of quantitative easing had the price gold surpassing the $1,890 mark early in the trading day, as investors continue to migrate toward safety in the volatile and weak economy.
Gold broke $1,890 in New York and London, as the failed Obama economic policies continue to weigh on the global economy.
While some continue to talk double-dip recession, we at Everything Gold have maintained we've never left the recession, as the data continue to confirm.
Others who believed in the recovery myth are now talking entering a recession, which has helped offer support to the price of gold, as well as the ongoing sovereign debt debacle in Europe. An earlier-than-expected QE3 adds more fuel to the gold price fire, and could cause an inevitable correction in gold to be somewhat subdued in comparison to what it may have been.
Barrick Gold (NYSE:ABX) was trading at $52.61, gaining $1.83, or 3.60 percent, as of 11:48 AM. Yamana Gold (NYSE:AUY) was trading at $15.94, jumping $0.43, or 2.77 percent. Newmont Mining (NYSE:NEM) was at $63.23, climbing $3.15, or 5.24 percent. Goldcorp was trading at $53.96, increasing $2.31, or 4.47 percent. Eldorado Gold was at $20.12, up $0.73, or 3.76 percent. Novagold was trading at $10.05, gaining $0.49, or 5.13 percent.
Gold broke $1,890 in New York and London, as the failed Obama economic policies continue to weigh on the global economy.
While some continue to talk double-dip recession, we at Everything Gold have maintained we've never left the recession, as the data continue to confirm.
Others who believed in the recovery myth are now talking entering a recession, which has helped offer support to the price of gold, as well as the ongoing sovereign debt debacle in Europe. An earlier-than-expected QE3 adds more fuel to the gold price fire, and could cause an inevitable correction in gold to be somewhat subdued in comparison to what it may have been.
Barrick Gold (NYSE:ABX) was trading at $52.61, gaining $1.83, or 3.60 percent, as of 11:48 AM. Yamana Gold (NYSE:AUY) was trading at $15.94, jumping $0.43, or 2.77 percent. Newmont Mining (NYSE:NEM) was at $63.23, climbing $3.15, or 5.24 percent. Goldcorp was trading at $53.96, increasing $2.31, or 4.47 percent. Eldorado Gold was at $20.12, up $0.73, or 3.76 percent. Novagold was trading at $10.05, gaining $0.49, or 5.13 percent.
Tuesday, August 9, 2011
JPMorgan (JPM) Says Gold Could Push $2,500 by the End of 2011
After three straight days of a huge gold rally, the largest since 2008, JPMorgan (NYSE:JPM) said gold could go crazy and soar to as high as $2,500 an ounce by the end of 2011.
This of course is led by Obama and the Democrat refusing to do the responsible thing and cut back on government spending (along with some Republicans).
Gold has jumped recently to an all-time high of $1,779 an ounce. The $2,500 mark, if reached, would represent a new high when taking into consideration being adjusted for inflation.
Goldman Sachs (NYSE:GS) has also joined the gold chorus, saying they see it hitting $1,730 an ounce within 6 months and $1,900 an ounce in 12 months.
Keynesianism is in its death throes as the realization the failed economic theory of the government printing money to escape recessions is just that - a failed one. Socialism everywhere is on the run as the unsustainability of entitlement programs and excessive military spending is increasingly being made clear to a growing number of people.
Consequently, the reason gold is soaring is not only as a safety hedge and defense against inflation, but it's value and recognition as a viable currency is roaring back. Gold has also broken away from the impact of demand, from and industrial standpoint, no longer considered to be affected by the business cycle.
As expected, gold miners are trading up today, with Yamana Gold (NYSE:AUY) trading at $13.61, gaining $0.16, or 1.19 percent, as of 12:14 PM EDT. NovaGold (NYSE:NG) was at $9.30, up $0.26, or 2.88 percent. Eldorado Gold (NYSE:EGO) was trading at $18.08, gaining $0.20, or 1.12 percent. Newmont Mining (NYSE:NEM) was at $54.46, up $0.33, or 0.61 percent. Goldcorp was trading at $46.66, gaining $0.22, or 0.47 percent. Barrick Gold was at $46.62, jumping $0.48, or 1.04 percent.
This of course is led by Obama and the Democrat refusing to do the responsible thing and cut back on government spending (along with some Republicans).
Gold has jumped recently to an all-time high of $1,779 an ounce. The $2,500 mark, if reached, would represent a new high when taking into consideration being adjusted for inflation.
Goldman Sachs (NYSE:GS) has also joined the gold chorus, saying they see it hitting $1,730 an ounce within 6 months and $1,900 an ounce in 12 months.
Keynesianism is in its death throes as the realization the failed economic theory of the government printing money to escape recessions is just that - a failed one. Socialism everywhere is on the run as the unsustainability of entitlement programs and excessive military spending is increasingly being made clear to a growing number of people.
Consequently, the reason gold is soaring is not only as a safety hedge and defense against inflation, but it's value and recognition as a viable currency is roaring back. Gold has also broken away from the impact of demand, from and industrial standpoint, no longer considered to be affected by the business cycle.
As expected, gold miners are trading up today, with Yamana Gold (NYSE:AUY) trading at $13.61, gaining $0.16, or 1.19 percent, as of 12:14 PM EDT. NovaGold (NYSE:NG) was at $9.30, up $0.26, or 2.88 percent. Eldorado Gold (NYSE:EGO) was trading at $18.08, gaining $0.20, or 1.12 percent. Newmont Mining (NYSE:NEM) was at $54.46, up $0.33, or 0.61 percent. Goldcorp was trading at $46.66, gaining $0.22, or 0.47 percent. Barrick Gold was at $46.62, jumping $0.48, or 1.04 percent.
Monday, July 25, 2011
NovaGold (NG) (GG) (NEM) (EGO) (ABX) Trading Up as Gold Jumps
The price of gold is hopping again today, pushing up shares of gold miners like NovaGold (NYSE:NG), Goldcorp (NYSE:GG), Newmont (NYSE:NEM), Eldorado Gold (NYSE: EGO) and Barrick Gold (NYSE:ABX), as the market remains jittery over the inability of politicians to come to a conclusion concerning the debt ceiling.
U.S. gold futures for August delivery rose to $16.80 an ounce at $1,618.30.
Spot gold climbed as high as $1,624 an ounce and was up 1.1 percent at $1,615.74 an ounce.
Expectations are the price of gold will be volatile this week, moving in conjunction with news stories released covering the negotiations.
Silver Prices jumped to $41.08 an ounce in Monday morning – a 2.5 gain from the close on Friday. It has pulled back since then.
U.S. gold futures for August delivery rose to $16.80 an ounce at $1,618.30.
Spot gold climbed as high as $1,624 an ounce and was up 1.1 percent at $1,615.74 an ounce.
Expectations are the price of gold will be volatile this week, moving in conjunction with news stories released covering the negotiations.
Silver Prices jumped to $41.08 an ounce in Monday morning – a 2.5 gain from the close on Friday. It has pulled back since then.
Thursday, July 14, 2011
Gold Prices Today Soaring on Debt Fears
With U.S. and European debt generating huge concerns among investors, gold continues to push up, increasing by $3 to $1,588.50 an ounce at the Comex division of the New York Mercantile Exchange for August delivery.
Gold has reached as high as $1,594.90, as it presses toward the $1,600 an ounce mark.
The euro was up 0.33 percent against the dollar, while the dollar index remains flat at $74.96.
Uncertainty in the U.S. and Europe continues to be the determining factor in the price of gold during this time, and the hint toward the Federal Reserve being ready to pour more money into the market and further devalue the U.S. dollar is more fuel to the gold price fire.
Also on the back of the minds of investors is the inflation situation in China and India. India just announced inflation climbed to 9.44 percent in Junem up form 9.06 percent in May. Production prices in the U.S. also help gold, and silver as well, falling 0.4 percent below what was being looked for.
Barrick Gold (NYSE:ABX) and US Gold Corp (NYSE:UXG) have been the recipients of bullish call activity recently, with investors acquired 53,000 call options in comparison to 20,000 puts.
US Gold has heavy call activity for November. The share price has been jumping since it hit $5.82 on Monday. It was trading at $6.65, as of 10:59 AM EDT.
A number of gold miners have pulled back after jumping in early morning trading. Goldcorp was at $54.01, falling 0.23, or 0.42 percent, as of 11:00 AM EDT. Yamana Gold (NYSE:AUY) was at $13.01, down $0.14, or 1.06 percent. Eldorado Gold was trading at $17.76, declining $0.01, or 0.06 percent. NovaGold was at $10.06, dropping $0.21, or 2.04 percent.
Gold has reached as high as $1,594.90, as it presses toward the $1,600 an ounce mark.
The euro was up 0.33 percent against the dollar, while the dollar index remains flat at $74.96.
Uncertainty in the U.S. and Europe continues to be the determining factor in the price of gold during this time, and the hint toward the Federal Reserve being ready to pour more money into the market and further devalue the U.S. dollar is more fuel to the gold price fire.
Also on the back of the minds of investors is the inflation situation in China and India. India just announced inflation climbed to 9.44 percent in Junem up form 9.06 percent in May. Production prices in the U.S. also help gold, and silver as well, falling 0.4 percent below what was being looked for.
Barrick Gold (NYSE:ABX) and US Gold Corp (NYSE:UXG) have been the recipients of bullish call activity recently, with investors acquired 53,000 call options in comparison to 20,000 puts.
US Gold has heavy call activity for November. The share price has been jumping since it hit $5.82 on Monday. It was trading at $6.65, as of 10:59 AM EDT.
A number of gold miners have pulled back after jumping in early morning trading. Goldcorp was at $54.01, falling 0.23, or 0.42 percent, as of 11:00 AM EDT. Yamana Gold (NYSE:AUY) was at $13.01, down $0.14, or 1.06 percent. Eldorado Gold was trading at $17.76, declining $0.01, or 0.06 percent. NovaGold was at $10.06, dropping $0.21, or 2.04 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.
Thursday, July 7, 2011
IAMGOLD (IAG) (NG) (AUY) (KGC) Close up as Gold Prices Climb Again
IAMGOLD Corporation (NYSE:IAG), NovaGold Resources Inc. (AMEX:NG), Yamana Gold (NYSE:AUY) and Kinross Gold Corp (NYSE:KGC) as the gold price climbed on the credit downgrade of Portugal by Moody's (NYSE:MCO) and concerns China may follow, as it battles inflation.
The gold price jumped $14.80 to $1,527 an ounce at the Comex division of the New York Mercantile Exchange Wednesday after China announced it would be boosting interest rates for the third time in 2011. The price of gold dropped as low as $1,510 an ounce before rebounding up to $1,529 after the People’s Bank of China said that the one-year lending rate will be increased from 6.31 percent to 6.56 percent, going into effect Thursday.
Next week China will release its consumer price index figures, which are expected to jump above 6 percent.
With Portugal downgraded to junk status, Greece with only a promise to implement austerity measures, and the U.S. sinking into economic oblivion, safe-haven assets like gold continue to be the focus of investors, as the clueless Obama administration and Democrats continue to battle to raise the debt ceiling at a time when spending needs to be cut back.
With Republicans being voted in to fight against outrageous government spending, they are under pressure to come through in fighting against raising the debt ceiling and cutting back on the size of government and it spending, it is a momentous time for them, as they have a chance to secure long-term rule if they have an ounce of courage and integrity to keep their promises.
Kinross closed at $16.67, gaining $0.13, or 0.79 percent. Yamana closed at $12.52, jumping $0.35, or 2.88 percent. NovaGold ended the session at $10.22, up $0.11, or 1.09 percent. Iamgold closed at $19.25, rising $0.04, or 0.21 percent.
The gold price jumped $14.80 to $1,527 an ounce at the Comex division of the New York Mercantile Exchange Wednesday after China announced it would be boosting interest rates for the third time in 2011. The price of gold dropped as low as $1,510 an ounce before rebounding up to $1,529 after the People’s Bank of China said that the one-year lending rate will be increased from 6.31 percent to 6.56 percent, going into effect Thursday.
Next week China will release its consumer price index figures, which are expected to jump above 6 percent.
With Portugal downgraded to junk status, Greece with only a promise to implement austerity measures, and the U.S. sinking into economic oblivion, safe-haven assets like gold continue to be the focus of investors, as the clueless Obama administration and Democrats continue to battle to raise the debt ceiling at a time when spending needs to be cut back.
With Republicans being voted in to fight against outrageous government spending, they are under pressure to come through in fighting against raising the debt ceiling and cutting back on the size of government and it spending, it is a momentous time for them, as they have a chance to secure long-term rule if they have an ounce of courage and integrity to keep their promises.
Kinross closed at $16.67, gaining $0.13, or 0.79 percent. Yamana closed at $12.52, jumping $0.35, or 2.88 percent. NovaGold ended the session at $10.22, up $0.11, or 1.09 percent. Iamgold closed at $19.25, rising $0.04, or 0.21 percent.
Monday, May 23, 2011
Novagold (NG) Closes Up on Euro Fears
Shares of Novagold Resources (AMEX:NG) closed up on Friday as concerns over the faltering European Union and its sovereign debt crisis pushed gold prices up and gold miners with it.
June gold closed on Friday at $1,508.90 an ounce, up $16.50, trading in a range of $1,486.40 and $1,515.80.
For the Week gold was up by about 1.15 percent, but still down 4 percent from the all-time high of $1,575 an ounce reached in the early part of May.
Silver closed at $35.16, up 0.6 percent, but down by about 30 percent since a record high on April 28 of $49.51.
NovaGold Resources Inc. participates in the exploration and development of mineral resource properties in Alaska and British Columbia.
NovaGold closed Friday at $10.44, up $0.14, or 1.36 percent. It has a market cap of $2.44 billion.
June gold closed on Friday at $1,508.90 an ounce, up $16.50, trading in a range of $1,486.40 and $1,515.80.
For the Week gold was up by about 1.15 percent, but still down 4 percent from the all-time high of $1,575 an ounce reached in the early part of May.
Silver closed at $35.16, up 0.6 percent, but down by about 30 percent since a record high on April 28 of $49.51.
NovaGold Resources Inc. participates in the exploration and development of mineral resource properties in Alaska and British Columbia.
NovaGold closed Friday at $10.44, up $0.14, or 1.36 percent. It has a market cap of $2.44 billion.
Friday, May 20, 2011
Eldorado (EGO) (AU) (NG) (AEM) 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 Eldorado Gold Corporation (NYSE:EGO), AngloGold Ashanti (NYSE:AU), NovaGold Resources Inc. (AMEX:NG) and Agnico-Eagle (NYSE:AEM).
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.
AngloGold Ashanti (AU) was trading at $46.16, gaining $0.55, or $1.21 percent, as of 1:14 PM EDT. Agnico-Eagle (AEM) was trading at $63.47, gaining $0.57, or 0.91 percent. NovaGold Resources Inc. (NG) was at $10.61, rising $0.31, or 3.01 percent. Eldorado Gold Corporation (NYSE:EGO) was trading at $15.77, climbing $0.29, or 1.87 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.
AngloGold Ashanti (AU) was trading at $46.16, gaining $0.55, or $1.21 percent, as of 1:14 PM EDT. Agnico-Eagle (AEM) was trading at $63.47, gaining $0.57, or 0.91 percent. NovaGold Resources Inc. (NG) was at $10.61, rising $0.31, or 3.01 percent. Eldorado Gold Corporation (NYSE:EGO) was trading at $15.77, climbing $0.29, or 1.87 percent.
NovaGold Resources Inc. (NG) Trades Down as Gold Prices Fall
NovaGold Resources Inc. (AMEX:NG) traded down as gold prices fell slightly on Thursday.
Gold for June delivery closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.
The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.
Extremely bad news on Obama's economy pressured the commodity sector.
July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.
Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.
NovaGold is a mining company participating in the exploration and development of mineral properties in North America. The company is primarily focused on its core assets, Donlin Creek and Galore Creek, seeking to produce about a million of ounces of gold annually. It also mines for gold, silver, copper, zinc, and lead ores.
NovaGold Resources Inc. (NG) closed Thursday at $10.30, falling $0.05, or 0.48 percent.
Gold for June delivery closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.
The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.
Extremely bad news on Obama's economy pressured the commodity sector.
July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.
Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.
NovaGold is a mining company participating in the exploration and development of mineral properties in North America. The company is primarily focused on its core assets, Donlin Creek and Galore Creek, seeking to produce about a million of ounces of gold annually. It also mines for gold, silver, copper, zinc, and lead ores.
NovaGold Resources Inc. (NG) closed Thursday at $10.30, falling $0.05, or 0.48 percent.
Thursday, May 19, 2011
Miners (NG) (UXG) (AUY) (SA) Trade Up
Shares of NovaGold Resources Inc. (AMEX:NG), US Gold (AMEX:UXG), Yamana Gold (NYSE:AUY) and Seabridge Gold (Amex:SA) all traded up on Wednesday as gold and silver prices climbed on the day.
Jaguar Mining soared on an earnings beat, closing up over 23 percent 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.
Seabridge Gold (SA) closed Wednesday at $28.81, gaining $0.36, or 1.27 percent.
Jaguar Mining soared on an earnings beat, closing up over 23 percent 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.
Seabridge Gold (SA) closed Wednesday at $28.81, gaining $0.36, or 1.27 percent.
Wednesday, May 18, 2011
Miners (ABX) (GG) (ANV) (NEM) (NG) All Close Up Tuesday
Shares of Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Allied Nevada Gold (AMEX:ANV), Newmont Mining (NYSE:NEM) and NovaGold Resources Inc. (AMEX:NG) went against the tide of gold prices, all closing up on Tuesday, even though gold prices dropped again.
Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.
The yellow metal has dropped $100 or 6 percent from its record highs of over $1,575 an ounce set earlier in May.
Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.
Newmont closed Tuesday at $53.53, gaining $0.59, or 1.11 percent.
Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.
The yellow metal has dropped $100 or 6 percent from its record highs of over $1,575 an ounce set earlier in May.
Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.
Newmont closed Tuesday at $53.53, gaining $0.59, or 1.11 percent.
Tuesday, May 17, 2011
NovaGold (NG) (AUY) (HMY) (AEM) Trade Mixed Monday
Shares of NovaGold Resources Inc. (AMEX:NG), Yamana Gold (NYSE:AUY), Harmony Gold Mining (NYSE:HMY) and Agnico-Eagle (NYSE:AEM) traded mixed Monday as gold and silver prices were down slightly on the trading day.
Gold for June delivery shed $3 to close at $1,490.60 at the Comex division of the New York Mercantile Exchange. The gold price Monday traded in a range of a low of $1,486 and a high of $1,504.30.
Silver prices ended the day down 88 cents to close at $34.13 an ounce.
The U.S. dollar index fell 0.43 percent to $75.38.
The euro strengthened as Monday trading went on, putting pressure on the U.S. dollar.
Yamana Gold (AUY) closed at $11.89, gaining $0.09, or 0.76 percent.
Gold for June delivery shed $3 to close at $1,490.60 at the Comex division of the New York Mercantile Exchange. The gold price Monday traded in a range of a low of $1,486 and a high of $1,504.30.
Silver prices ended the day down 88 cents to close at $34.13 an ounce.
The U.S. dollar index fell 0.43 percent to $75.38.
The euro strengthened as Monday trading went on, putting pressure on the U.S. dollar.
Yamana Gold (AUY) closed at $11.89, gaining $0.09, or 0.76 percent.
Monday, May 16, 2011
Eldorado (EGO) (GOLD) (NG) (ANV) (IAG) Trade Down 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 Eldorado Gold Corporation (NYSE:EGO), Randgold (NASDAQ:GOLD), NovaGold Resources Inc. (AMEX:NG), Allied Nevada Gold (AMEX:ANV) and IAMGOLD Corporation (NYSE:IAG) - which closed down - 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.
Eldorado Gold Corporation (EGO) closed Friday at $15.11, dropping $0.15, or 0.98 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.
Eldorado Gold Corporation (EGO) closed Friday at $15.11, dropping $0.15, or 0.98 percent.
Wednesday, May 11, 2011
Miners (AEM) (IAG) (NG) (AUY) (GFI) Trade Mixed as Gold Jumps Again
Shares of gold miners Agnico-Eagle (NYSE:AEM), IAMGOLD Corporation (NYSE:IAG), NovaGold Resources Inc. (AMEX:NG), Yamana Gold (NYSE:AUY) and Gold Fields (NYSE:GFI) closed mixed as gold prices continue to rebound.
Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.
Silver also extended its rebound, with the July contract gaining $1.37, or 3.7%, to $38.47 an ounce.
Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.
HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to $1,500 from $1,300 for 2012.
For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and $29 from $20 in 2012.
Platinum is seen closing 2011 at $1,850 from $1,750, according to HSBC, and ending 2012 at $1,750 from $1,650.
For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.
Yamana Gold (AUY) closed at $11.89, down $0.05, or 0.42 percent.
Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.
Silver also extended its rebound, with the July contract gaining $1.37, or 3.7%, to $38.47 an ounce.
Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.
HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to $1,500 from $1,300 for 2012.
For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and $29 from $20 in 2012.
Platinum is seen closing 2011 at $1,850 from $1,750, according to HSBC, and ending 2012 at $1,750 from $1,650.
For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.
Yamana Gold (AUY) closed at $11.89, down $0.05, or 0.42 percent.
Tuesday, May 10, 2011
Miners (NG) (NEM) (UXG) (IAG) (AZK) Trade Mixed as Gold, Silver Rebound
Gold miners NovaGold Resources Inc. (AMEX:NG), Newmont Mining (NYSE:NEM), US Gold (AMEX:UXG), IAMGOLD Corporation (NYSE:IAG) and Aurizon Mines (AMEX:AZK) closed mixed Monday as gold prices turned around on Monday.
All the miners above closed positive with the exception of Aurizon Mines.
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.
US Gold (UXG) closed Monday at $7.81, gaining $0.30, or 3.99 percent.
All the miners above closed positive with the exception of Aurizon Mines.
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.
US Gold (UXG) closed Monday at $7.81, gaining $0.30, or 3.99 percent.
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