A day after silver and gold were hammered, the two precious metals rebounded after investors took advantage to get in at a good price.
Silver and gold prices have been soaring, and were due for a correction.
Silver for May delivery climbed $1.02, or 2.9 percent, to $35.66 an ounce. Gold for April delivery rose $10.90, or 0.6 percent, to end the session at $1,722,20 an ounce on the Comex division of the New York Mercantile Exchange.
Neither the long-term outlook for silver or gold has changed, and the upward price momentum, over time, will continue.
Other metals were also up today, including May copper, which was up 5 cents, or 1.4 percent, to $3.92 a pound.
April platinum rose $8.50, or 0.5 percent, to $1,701.10 an ounce. Palladium for June delivery jumped $8.35, or 1.2 percent, to $715 an ounce.
Silver Wheaton closed at $38.80, gaining $0.43, or 1.12 percent. First Majestic Silver closed at $20.80, jumping $0.34, or 1.66 percent. Silvercorp Metals closed at $7.36, up $0.01, or 0.14 percent.
Showing posts with label Silver Prices. Show all posts
Showing posts with label Silver Prices. Show all posts
Thursday, March 1, 2012
Wednesday, September 21, 2011
Gold, Silver Nowhere Near Being Finished
All the hoopla by the mainstream financial media about the possibility of gold and silver having entered into a bubble is just that: hoopla. Both aren't anywhere near to historic highs, as measured against the CPI-U, and have plenty of upside left in them both.
Even if you wanted to measure gold by the governments unreliable CPI numbers, when adjusted for inflation, gold would still have to reach $2,330 to attain the record it reached in 1980, giving it 30 percent more room to run.
For silver it's even better, as when measured against the government CPI data, it would need to reach $136, an upside of about 246 percent, depending on when you read this article.
But by most measurements, gold and silver should perform even better than those represented by the data above. For example, when measured by percentage gains from 1971 to the former record high, gold climbed 249 percent and silver 307 percent during that time.
If that was to translate into today's prices, gold would jump to $6,227 an ounce, and silver to $160 an ounce.
As we all know though, past performance doesn't guarantee what will happen in the future, but it is a type of general road map one can follow.
The point is, when measured by historical performance, whichever metrics you use, gold and silver are far from reaching their highs, and even further from entering into bubble status.
That's not to say the correction is over or there won't be volatility on the ongoing upward climb of silver and gold prices. Volatility will always be part of silver and gold because of their connection to movements based on headlines, especially with silver.
But overall, we'll continue to see these two precious metals move up in price, as there's nothing in the macroeconomic situation that has changed which would alter that outlook.
Even if you wanted to measure gold by the governments unreliable CPI numbers, when adjusted for inflation, gold would still have to reach $2,330 to attain the record it reached in 1980, giving it 30 percent more room to run.
For silver it's even better, as when measured against the government CPI data, it would need to reach $136, an upside of about 246 percent, depending on when you read this article.
But by most measurements, gold and silver should perform even better than those represented by the data above. For example, when measured by percentage gains from 1971 to the former record high, gold climbed 249 percent and silver 307 percent during that time.
If that was to translate into today's prices, gold would jump to $6,227 an ounce, and silver to $160 an ounce.
As we all know though, past performance doesn't guarantee what will happen in the future, but it is a type of general road map one can follow.
The point is, when measured by historical performance, whichever metrics you use, gold and silver are far from reaching their highs, and even further from entering into bubble status.
That's not to say the correction is over or there won't be volatility on the ongoing upward climb of silver and gold prices. Volatility will always be part of silver and gold because of their connection to movements based on headlines, especially with silver.
But overall, we'll continue to see these two precious metals move up in price, as there's nothing in the macroeconomic situation that has changed which would alter that outlook.
Thursday, May 5, 2011
Silver ETFs (DBS) (SIVR) (AGQ) (SLV) Trade Down as Silver Takes Beating
Even though silver miners closed mixed on Wednesday as silver prices again got pummeled, that wasn't the case for silver ETFs PowerShares DB Silver (NYSE:DBS), Physical Silver (NYSE:SIVR), ProShares Ultra Silver (NYSE:AGQ) and iShares Silver Trust (NYSE:SLV), which all closed down big on the day.
ProShares UltraShort Silver (NYSE:ZSL) continued to soar in line with the movement of silver prices, jumping to close at $19.45, up $1.94, or 11.07 percent.
The ongoing plunge in silver prices also pressured other commodities Wednesday as investors sold holdings to take money off the table after weeks of prices rising in the sector.
Silver dropped $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver approached the elusive $50 an ounce mark last week.
Silver for July delivery dropped $2.820, at $39.765 per troy ounce.
Despite silver's three-day fall, the price is still 27.3 percent higher on the year.
Gold for June delivery, the most actively traded contract, fell $25.10 to $1,515.30 an ounce.
The U.S. dollar index lost 0.15 percent to $73.01.
ProShares Ultra Silver (AGQ) closed Wednesday at $234.20, falling $30.77, or 11.61 percent.
ProShares UltraShort Silver (NYSE:ZSL) continued to soar in line with the movement of silver prices, jumping to close at $19.45, up $1.94, or 11.07 percent.
The ongoing plunge in silver prices also pressured other commodities Wednesday as investors sold holdings to take money off the table after weeks of prices rising in the sector.
Silver dropped $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver approached the elusive $50 an ounce mark last week.
Silver for July delivery dropped $2.820, at $39.765 per troy ounce.
Despite silver's three-day fall, the price is still 27.3 percent higher on the year.
Gold for June delivery, the most actively traded contract, fell $25.10 to $1,515.30 an ounce.
The U.S. dollar index lost 0.15 percent to $73.01.
ProShares Ultra Silver (AGQ) closed Wednesday at $234.20, falling $30.77, or 11.61 percent.
Wednesday, April 27, 2011
Minefinders (MFN) (ISVLF) (HL) (AXU) Close Down as Silver, Gold Routed
Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820, as Minefinders Corp. Ltd. (AMEX:MFN), Impact Silver (OTC:ISVLF.PK), Hecla Mining (NYSE:HL) and Alexco Resource (AMEX: AXU) closed down.
Gold prices closed down Tuesday from records set the previous trading session, temporarily falling below the important $1,500 level at one point, but the losses in the yellow metal were subdued.
On the other hand, silver futures plunged Tuesday as investors took profits from record prices as uncertainty over the Federal Reserve policy decision coming up could have an adverse effect on the metals' unprecedented rally.
There is some wariness by some on how the Federal Reserve might respond in light of recent signs of higher food and energy prices.
Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820.
The most actively traded silver contract, for May delivery, fell $2.099, or 4.5%, to settle at $45.050 a troy ounce on the Comex division of the New York Mercantile Exchange. Front-month April silver lost $2.093, or 4.4 percent, to finish at $45.058.
Most-active Comex June gold was down $5.60, or 0.4 percent, to settle at $1,503.50 a troy ounce while the nearby April contract fell $5.60, or 0.4 percent, to end at $1,503.00.
Gold trading near $1,500 an ounce has increased buying in silver as a less expensive alternative.
Gold prices closed down Tuesday from records set the previous trading session, temporarily falling below the important $1,500 level at one point, but the losses in the yellow metal were subdued.
On the other hand, silver futures plunged Tuesday as investors took profits from record prices as uncertainty over the Federal Reserve policy decision coming up could have an adverse effect on the metals' unprecedented rally.
There is some wariness by some on how the Federal Reserve might respond in light of recent signs of higher food and energy prices.
Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820.
The most actively traded silver contract, for May delivery, fell $2.099, or 4.5%, to settle at $45.050 a troy ounce on the Comex division of the New York Mercantile Exchange. Front-month April silver lost $2.093, or 4.4 percent, to finish at $45.058.
Most-active Comex June gold was down $5.60, or 0.4 percent, to settle at $1,503.50 a troy ounce while the nearby April contract fell $5.60, or 0.4 percent, to end at $1,503.00.
Gold trading near $1,500 an ounce has increased buying in silver as a less expensive alternative.
Monday, April 25, 2011
Hecla (HL) (GPL) (PAAS) (AG) (AXU) Close Mixed Thursday as Silver Prices Reach 31-Year High
Silver miners Great Panther (AMEX:GPL), First Majestic (NYSE:AG), Hecla Mining (NYSE:HL) and Alexco Resource (AMEX: AXU) 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.
Alexco Resource closed Thursday at $10.17, gaining $0.21, or 2.11 percent. Hecla ended the day at $9.46, rising $0.24, or 2.60 percent. First Majestic closed at $23.31, dropping $0.39, or 1.65 percent. Great Panther ended the session at $3.92, losing $0.08, or 2.00 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.
Alexco Resource closed Thursday at $10.17, gaining $0.21, or 2.11 percent. Hecla ended the day at $9.46, rising $0.24, or 2.60 percent. First Majestic closed at $23.31, dropping $0.39, or 1.65 percent. Great Panther ended the session at $3.92, losing $0.08, or 2.00 percent.
Thursday, April 21, 2011
Silver Wheaton (SLW) (HL) (AEM) (AGI) Upgraded by Cannacord
Canaccord Genuity analyst Steven Butler raised his ratings on Silver Wheaton (NYSE:SLW), Alamos Gold Inc. (TSE:AGI), Agnico-Eagle Mines Limited (NYSE:AEM) and Hecla Mining (NYSE:HL), while also boosting his price outlook for silver and gold for 2011.
“We continue to believe that macroeconomic conditions favor higher gold and silver prices, including record global liquidity, inflation prospects and low real interest rates, currency debasement on sovereign debt woes and political unrest in the Middle East and North Africa,” Butler wrote in a note.
Butler raised his gold price for 2011 to $1,525 an ounce and for silver to $42. For his peak price scenario, he sees gold jumping to $1,600 and silver to $47.50.
With the exception of Alamos Gold Inc., which was upgraded to "Speculative Buy" from "Hold," the rest of the companies were raised to "Buy."
Alamos was trading in Toronto at $15.93, gaining $0.73, or 4.80 percent. Agnico-Eagle Mines was trading in New York at $67.86, rising $0.42, or 0.62 percent, as of 1:22 PM EDT. Silver Wheaton was at $42.03, up $0.33, or 0.79 percent. Hecla was trading at $9.29, jumping $0.07, or 0.76 percent.
“We continue to believe that macroeconomic conditions favor higher gold and silver prices, including record global liquidity, inflation prospects and low real interest rates, currency debasement on sovereign debt woes and political unrest in the Middle East and North Africa,” Butler wrote in a note.
Butler raised his gold price for 2011 to $1,525 an ounce and for silver to $42. For his peak price scenario, he sees gold jumping to $1,600 and silver to $47.50.
With the exception of Alamos Gold Inc., which was upgraded to "Speculative Buy" from "Hold," the rest of the companies were raised to "Buy."
Alamos was trading in Toronto at $15.93, gaining $0.73, or 4.80 percent. Agnico-Eagle Mines was trading in New York at $67.86, rising $0.42, or 0.62 percent, as of 1:22 PM EDT. Silver Wheaton was at $42.03, up $0.33, or 0.79 percent. Hecla was trading at $9.29, jumping $0.07, or 0.76 percent.
Ultra Silver (AGQ) (ZSL) (GLD) (GDX) Close Mixed as Gold, Silver Soar Again
ProShares UltraShort Silver (NYSE:ZSL), ProShares Ultra Silver (NYSE:AGQ), iShares Gold Trust (NYSE:GLD) and Market Vectors Gold Miners ETF (NYSEArca:GDX) closed mixed Wednesday as silver continues its upward climb and 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.
Market Vectors Gold Miners ETF closed Wednesday at $62.10, up $0.46, or 0.75 percent. iShares Gold Trust closed at $146.50, gaining $0.57, or 0.39 percent. ProShares Ultra Silver ended the trading day at $37.63, jumping $15.44, or 5.06 percent. ProShares UltraShort Silver closed at $15.78, falling $0.89, or 5.34 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.
Market Vectors Gold Miners ETF closed Wednesday at $62.10, up $0.46, or 0.75 percent. iShares Gold Trust closed at $146.50, gaining $0.57, or 0.39 percent. ProShares Ultra Silver ended the trading day at $37.63, jumping $15.44, or 5.06 percent. ProShares UltraShort Silver closed at $15.78, falling $0.89, or 5.34 percent.
Alexco Resource (AXU) (PAAS) (CDE) (AG) Close Up as Silver Jumps Again
Alexco Resource (AMEX:AXU), Pan American Silver (NASDAQ:PAAS), Coeur d'Alene Mines (NYSE:CDE) and First Majestic (NYSE:AG) closed up 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.
First Majestic closed Wednesday at $23.70, up $0.94, or 4.13 percent. Coeur d'Alene Mines closed at $31.61, gaining $0.50, or 1.61 percent. Pan American Silver ended the trading day at $37.63, jumping $1.10, or 3.01 percent. Alexco Resource closed at $9.96, up $0.39, or 4.08 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.
First Majestic closed Wednesday at $23.70, up $0.94, or 4.13 percent. Coeur d'Alene Mines closed at $31.61, gaining $0.50, or 1.61 percent. Pan American Silver ended the trading day at $37.63, jumping $1.10, or 3.01 percent. Alexco Resource closed at $9.96, up $0.39, or 4.08 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.
Ivanhoe (IVN) (NEM) (SA) (MFN) Close Mixed as Gold Breaks Record Again
Ivanhoe Mines Ltd. (NYSE:IVN), Newmont Mining (NYSE:NEM), Seabridge Gold (AMEX:SA) and Minefinders (AMEX:MFN) closed mixed 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.
Ivanhoe Mines Ltd. closed Wednesday at $26.24, gaining $0.48, or 1.86 percent. Newmont Mining closed at $58.85, up $0.22, or 0.38 percent. Seabridge Gold ended the trading session at $33.79, falling $0.68, or 1.97 percent. Minefinders closed at $16.52, jumping $0.71, or 4.49 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.
Ivanhoe Mines Ltd. closed Wednesday at $26.24, gaining $0.48, or 1.86 percent. Newmont Mining closed at $58.85, up $0.22, or 0.38 percent. Seabridge Gold ended the trading session at $33.79, falling $0.68, or 1.97 percent. Minefinders closed at $16.52, jumping $0.71, or 4.49 percent.
Kinross (KGC) (GFI) (AUY) (ANV) Close Mixed as Gold Breaks Record Again
Kinross Gold (NYSE:KGC), Gold Fields (NYSE:GFI), Yamana Gold (NYSE:AUY) and Allied Nevada Gold (AMEX:ANV) closed mixed 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.
Allied Nevada Gold closed Wednesday at $39.78, gaining $0.78, or 2.00 percent. Yamana Gold closed at $12.80, falling $0.13, or 1.01 percent. Gold Fields ended the trading session at $17.88, rising $0.20, or 1.13 percent. Kinross Gold closed at $15.37, jumping $0.13, or 0.85 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.
Allied Nevada Gold closed Wednesday at $39.78, gaining $0.78, or 2.00 percent. Yamana Gold closed at $12.80, falling $0.13, or 1.01 percent. Gold Fields ended the trading session at $17.88, rising $0.20, or 1.13 percent. Kinross Gold closed at $15.37, jumping $0.13, or 0.85 percent.
Wednesday, April 20, 2011
Silver Pushing $44 as Hecla (HL) (FVITF) (PAAS) (SSRI) Close Mixed
Silver prices moved up with gold, reaching another 31-year high as gold blew past the $1,500 an ounce mark on Tuesday. Pan American Silver (NASDAQ:PAAS), Silver Standard Resources (NASDAQ:SSRI), Hecla Mining (NYSE:HL) and Fortuna (OTC:FVITF.PK) closed mixed on the day.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Pan American Silver closed Tuesday at $36.53, falling $0.93, or 2.48 percent. Silver Standard Resources ended the session at $33.97, gaining $0.48, or 1.43 percent. Hecla Mining closed at $9.01, up $0.15, or 1.69 percent. Fortuna Silver closed the day at $6.28, gaining $0.09, or 1.45 percent.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Pan American Silver closed Tuesday at $36.53, falling $0.93, or 2.48 percent. Silver Standard Resources ended the session at $33.97, gaining $0.48, or 1.43 percent. Hecla Mining closed at $9.01, up $0.15, or 1.69 percent. Fortuna Silver closed the day at $6.28, gaining $0.09, or 1.45 percent.
Gold, Silver Up as ETFs (GLD) (GDX) (SLV) SIL) Close Up or Level
Silver prices moved up with gold, reaching another 31-year high as gold blew past the $1,500 an ounce mark on Tuesday for the first time. SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), iShares Silver Trust ETF (SLV) and Global X Silver Miners ETF (SIL) closed up or level on the day.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Global X Silver Miners ETF closed Tuesday at $28.73, gaining $0.50, or 1.77 percent. iShares Silver Trust ETF ended the session at $43.00, gaining $0.58, or 1.37 percent. Market Vectors Gold Miners ETF closed at $61.64, up $0.81, or 1.33 percent. SPDR Gold Trust ETF closed the day level at $145.93.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Global X Silver Miners ETF closed Tuesday at $28.73, gaining $0.50, or 1.77 percent. iShares Silver Trust ETF ended the session at $43.00, gaining $0.58, or 1.37 percent. Market Vectors Gold Miners ETF closed at $61.64, up $0.81, or 1.33 percent. SPDR Gold Trust ETF closed the day level at $145.93.
Gold Breaks $1,500 as NovaGold (NG) (EGO) (AZK) (TRE) Close Mixed
After blowing past the $1,500 an ounce mark on Tuesday, gold prices settled just under the important psychological barrier at $1,495.10, as gold miners NovaGold Resources Inc. (AMEX:NG), Eldorado Gold Corporation (NYSE:EGO), Aurizon Mines (AMEX:AZK) and Tanzanian Royalty Exploration (AMEX:TRE) closed mixed on the day.
Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.
Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.
NovaGold Resources Inc. closed Tuesday at $13.18, gaining $0.07, or 0.53 percent. Eldorado Gold Corporation ended the session at $17.97, up $0.21, or 1.18 percent. Aurizon Mines closed at $6.63, falling $0.07, or 1.04 percent. Tanzanian Royalty Exploration closed the day at $6.30, down $0.04, or 0.63 percent.
Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.
Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.
NovaGold Resources Inc. closed Tuesday at $13.18, gaining $0.07, or 0.53 percent. Eldorado Gold Corporation ended the session at $17.97, up $0.21, or 1.18 percent. Aurizon Mines closed at $6.63, falling $0.07, or 1.04 percent. Tanzanian Royalty Exploration closed the day at $6.30, down $0.04, or 0.63 percent.
Silver Pushing $44 as Silver Wheaton (SLW) (ISVLF) (GPL) (CDE) Close Mixed
Silver prices moved up with gold, reaching another 31-year high as gold blew past the $1,500 an ounce mark on Tuesday. Silver Wheaton (NYSE:SLW), Impact Silver (OTC:ISVLF.PK), Great Panther (AMEX:GPL) and Coeur d'Alene Mines (NYSE:CDE) closed mixed on the day.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Silver Wheaton closed Tuesday at $42.87, gaining $1.28, or 3.08 percent. Impact Silver ended the session at $2.42, down $0.05, or 2.02 percent. Great Panther closed at $4.00, losing $0.01, or 0.25 percent. Coeur d'Alene Mines closed the day at $31.11, gaining $0.48, or 1.57 percent.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Silver Wheaton closed Tuesday at $42.87, gaining $1.28, or 3.08 percent. Impact Silver ended the session at $2.42, down $0.05, or 2.02 percent. Great Panther closed at $4.00, losing $0.01, or 0.25 percent. Coeur d'Alene Mines closed the day at $31.11, gaining $0.48, or 1.57 percent.
Monday, April 18, 2011
Fortuna (FVITF) (SLW) (ISVLF) (GPL) Trade Down Even as Silver Continues to Rise
Silver again hit new 31-year highs Friday soaring as high as $42.95 an ounce, closing the week up 4.9%. Silver for May delivery rose 90.7 cents to settle at $42.571 an ounce. Silver has risen just under 40 percent so far in 2011. Impact Silver (OTC:ISVLF.PK), Silver Wheaton (NYSE:SLW), Great Panther (AMEX:GPL) and Fortuna (OTC:FVITF.PK) traded down on the day.
Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.
Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.
The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.
Fortuna closed Friday at $6.43, falling $0.12, or 1.85 percent. Great Panther closed at $4.08, down $0.08, or 1.92 percent. Silver Wheaton closed at $42.61, dropping $0.27, or 0.63 percent. Impact Silver ended the day at $2.73, losing $0.07, or 2.69 percent.
Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.
Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.
The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.
Fortuna closed Friday at $6.43, falling $0.12, or 1.85 percent. Great Panther closed at $4.08, down $0.08, or 1.92 percent. Silver Wheaton closed at $42.61, dropping $0.27, or 0.63 percent. Impact Silver ended the day at $2.73, losing $0.07, or 2.69 percent.
Endeavour (EXK) (AG) (CDE) (PAAS) Trade Mixed as Silver Continues to Climb
Silver again hit new 31-year highs Friday soaring as high as $42.95 an ounce, closing the week up 4.9%. Silver for May delivery rose 90.7 cents to settle at $42.571 an ounce. Silver has risen just under 40 percent so far in 2011. First Majestic (NYSE:AG), Coeur d'Alene Mines (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Endeavour Silver (AMEX:EXK) traded mixed on the day.
Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.
Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.
The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.
Endeavour Silver closed Friday at $11.98, gaining $0.19, or 1.61 percent. Pan American Silver closed at $38.07, up $0.72, or 1.93 percent. Coeur d'Alene Mines closed at $31.30, rising $0.22, or 0.71 percent. First Majestic ended the day at $23.69, falling $0.33, or 1.37 percent.
Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.
Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.
The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.
Endeavour Silver closed Friday at $11.98, gaining $0.19, or 1.61 percent. Pan American Silver closed at $38.07, up $0.72, or 1.93 percent. Coeur d'Alene Mines closed at $31.30, rising $0.22, or 0.71 percent. First Majestic ended the day at $23.69, falling $0.33, or 1.37 percent.
Friday, April 15, 2011
Gammon (GRS) (JAG) (AXU) (KGC) Trade Mixed as Gold, Silver Rise Again
Shares of most gold miners were up as gold rose again Thursday, although Jaguar Mining (NYSE:JAG), Alexco Resource (AMEX:AXU), Kinross Gold Corp (NYSE:KGC) and Gammon Gold (NYSE:GRS) were 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.
Spot gold was up 1.4 per cent to $1,474.30 an ounce, closing in on its record $1,476.21 set on Monday.
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. May copper fell 1.05 cents to settle at $4.284 a pound
Kinross Gold Corp closed Thursday at $15.96, gaining $0.16, or 1.03 percent. Jaguar Mining closed at $5.15, falling $0.04, or 0.77 percent. Gammon Gold ended the session at $10.60, up $0.28, or 2.71 percent. Alexco Resource soared to closed at $9.65, rising $0.97, or 11.18 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.
Spot gold was up 1.4 per cent to $1,474.30 an ounce, closing in on its record $1,476.21 set on Monday.
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. May copper fell 1.05 cents to settle at $4.284 a pound
Kinross Gold Corp closed Thursday at $15.96, gaining $0.16, or 1.03 percent. Jaguar Mining closed at $5.15, falling $0.04, or 0.77 percent. Gammon Gold ended the session at $10.60, up $0.28, or 2.71 percent. Alexco Resource soared to closed at $9.65, rising $0.97, or 11.18 percent.
Fortuna (FVITF) (SLW) (PAAS) (CDE) Trade Mixed as Gold, Silver Rise Again
Shares of most silver miners were up as silver jumped again Thursday, although Silver Wheaton (NYSE:SLW), Fortuna (OTC:FVITF.PK), Coeur d'Alene Mines (NYSE:CDE) and Pan American Silver (NASDAQ:PAAS) were trading mixed.
Silver climbed $1.427, or 3.6 percent, to $41.664 an ounce.
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.
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. May copper fell 1.05 cents to settle at $4.284 a pound
Pan American Silver closed Thursday at $37.35, plunging $3.74, or 9.09 percent. Coeur d'Alene Mines closed at $31.08, dropping $2.68, or 7.94 percent. Fortuna ended the trading day at $6.55, up $0.40, or 6.52 percent. Silver Wheaton closed at $42.88, rising $0.49, or 1.16 percent.
Coeur d'Alene Mines and Pan American Silver were hit hard because of Bolivia's leftist, progressive government said it might rescind concessions on four mines in the country. Pan American silver was one of the companies specifically mentioned. Coeur d'Alene Mines wasn't mentioned but does mine in Bolivia.
Silver climbed $1.427, or 3.6 percent, to $41.664 an ounce.
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.
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. May copper fell 1.05 cents to settle at $4.284 a pound
Pan American Silver closed Thursday at $37.35, plunging $3.74, or 9.09 percent. Coeur d'Alene Mines closed at $31.08, dropping $2.68, or 7.94 percent. Fortuna ended the trading day at $6.55, up $0.40, or 6.52 percent. Silver Wheaton closed at $42.88, rising $0.49, or 1.16 percent.
Coeur d'Alene Mines and Pan American Silver were hit hard because of Bolivia's leftist, progressive government said it might rescind concessions on four mines in the country. Pan American silver was one of the companies specifically mentioned. Coeur d'Alene Mines wasn't mentioned but does mine in Bolivia.
Alamos (AGI) (GBU) (CG) Up, (ORA) Down as Gold, Silver Rise Again
Shares of most gold miners were up as gold soared again Thursday, with Aura Minerals (TSE:ORA), Gabriel Resources (TSE:GBU), Centerra Gold (TSE:CG) and Alamos Gold (TSE:AGI) trading up in Toronto, with the exception of Aura.
Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.
The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.
The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.
In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce.
Alamos Gold closed in Toronto Thursday at $14.25, gaining $0.62, or 4.55 percent. Centerra Gold closed at $17.41, up $0.27, or 1.58 percent. Gabriel Resources ended the session at $7.20, rising $0.28, or 4.05 percent. Aura Minerals closed down at $2.92, falling $0.08, or 2.67 percent.
Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.
The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.
The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.
In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce.
Alamos Gold closed in Toronto Thursday at $14.25, gaining $0.62, or 4.55 percent. Centerra Gold closed at $17.41, up $0.27, or 1.58 percent. Gabriel Resources ended the session at $7.20, rising $0.28, or 4.05 percent. Aura Minerals closed down at $2.92, falling $0.08, or 2.67 percent.
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