CloseGain/LossGold $1244.30-$4.10Silver$14.52-$0.11XAU67.40-0.79%HUI154.01+0.05%GDM560.44+0.02%JSE Gold1249.20+48.07USD97.21+0.61Euro113.57-0.53Yen88.34-0.46Oil$51.00-$1.6110-Year2.854%-0.002T-Bond144.0625+0.15625Dow24423.26+0.14%Nasdaq7020.52+0.74%S&P2637.72+0.18% The Metals: Gold saw slight gains in Asia before it fell back to $1243.50 by a little after 8AM EST and then...Read More
Commodities and base metal prices are weighed in a risk-off environment considering global trade relations, Huawei's CFO still in custody and with the news that the highly anticipated Brexit vote could be delayed, thereby prolonging a period of uncertainty. Gold en-route towards the 200-D SMA up at $1,256.90. The latest data in the Chinese commodity trade print has offered a sign that the fr...Read More
Peter KrauthLast week might've been a short trading week, but it was packed with the sort of financial news that sends the price of gold higher.This latest gold rally pushed the metal to a fresh five-month high and close to a new breakout level.Of course, the G-20 summit in Buenos Aires provided an early boost for gold prices, as the United States and China agreed to a 90-day truce with no new tar...Read More
Gold price formed a solid support base near the $1,232 and $1,233 levels against the US Dollar. The price of XAU/USD started a nice upward move and broke the $1,235, $1,238 and $1,240 resistance levels to move into a positive zone. Buyers even pushed the price above the $1,244 resistance area. The price tested the $1,250 resistance area and it is currently consolidating gains. It is testing the 2...Read More
Published 22 Hours AgoUpdated5 Hours AgoReuters Simon Dawson | Bloomberg | Getty ImagesGold will continue to shine amid a weak dollar, says author and gold pro Jim Rickards.Gold edged lower on Monday as the dollar firmed, but stock market volatility and chances of a slower pace of U.S. interest rate hikes in 2019 kept bullion close to a 5-month peak scaled earlier in the session.Spot gold was d...Read More
• A modest USD rebound prompts some profit-taking at higher levels. • Fed rate hike pause talks might help limit any immediate sharp fall. Gold extended its steady decline from five-month tops and is currently placed at the lower end of its daily trading range, around the $1246 level. With investors looking past Friday's disappointing US mon...Read More
Gold is one of the few assets that have been holding up over the last few months.We have seen some weaker economic data and the market telling the Fed it might to be able to handle more rate hikes.I don't expect a dip before gold moves higher if we see more economic weakness and the Fed pausing.The speculative interest is still on the wrong side of gold and short covering could fuel an upward...Read More
REVIEW, PREVIEW, AND BOTH SHORT- AND LONGER-TERM THOUGHTS Job growth slowed in November amid fears that economic growth is losing steam. Nonfarm payrolls increased by 155,000 for the month while the unemployment rate again held at 3.7 percent, its lowest since 1969, the Labor Department reported Friday. Economists surveyed by Dow Jones had been expecting payroll growth of 198,000 and the jobless r...Read More
Gold rose to the predicted level of the prior article.The spread between the 5-year and 2-year U.S. treasury yield has turned towards the downside.The technical picture of gold looks positive, all thanks to the bullish candle breaking above the 200-day moving average on the weekly chart.In my last article on October 26th, I was bullish on gold (GDX, ASA) as I expected it to have a rise in its valu...Read More
James Hyerczyk16 hours agoGold Bars and DollarGold futures are trading slightly lower after giving up earlier gains that drove the market to its highest level since July 17. The early strength was fueled by follow-through buying related to Friday’s weaker-than-expected U.S. Nonfarm Payrolls report. The jobs report garnered mixed reviews with some traders describing it as “so-soȁ...Read More
Gold's intermediate-term recovery process continues to gain traction.Flight-to-safety demand on the rise, thanks to global market jitters.Dollar index still needs to weaken some more, however.It has been a long time in coming, but things are finally looking up for gold. After a drawn-out bottoming process over the last four months, the gold price is climbing out the basement in stair-step fash...Read More
Gold jumped to $1,251 in Asia - the highest level since July 11. Rising evidence of a global growth slowdown, trade fears, and the resulting risk aversion is likely helping gold report gains. Talk of Fed rate pause in 2019 is likely adding to the bullish tone around the yellow metal. Gold rose to a six-month high of $1,251, having closed higher by 2.10 percent last week – its biggest weekl...Read More
CHILE - Over the last 15 years, Newcrest Mining has discovered gold deposits in Australia, Papua New Guinea and Indonesia and continues to explore and evaluate prospects in those countries as well as in many others including Fiji, North America, Mexico, Cote d'Ivoire, Chile, Argentina, and Ecuador.This week it signed an option agreement in Chile to earn up to a 75% interest in Cornerstone Capital...Read More
NEW DELHI - India's environmental court on Monday said it will issue its judgment in one week on whether to allow Vedanta Ltd to re-open its copper smelter, which was closed earlier this year after 13 people died when police fired on protesters.A panel of experts set up by India's National Green Tribunal, informally known as the environmental court, in November said authorities in Tamil Nadu state...Read More
KINSHASA - Democratic Republic of Congo's state mining company Gecamines said on Monday it would increase its stake in its Boss Mining joint venture with ENRC Africa Holdings to 49 percent after the two companies renegotiated terms.The state miner is moving to increase its take from joint ventures with international miners such as Glencore and China Molybdenum, which it accuses of not bringing eno...Read More
Capstone Mining (TSX: CS) released today positive results of an updated technical report for its Cozamin mine, located north-northwest of Zacatecas City in the Mexican north-central state of the same name.Cozamin is a polymetallic underground mine with a surface milling facility.According to the updated report on the operation, Proven and Probable Mineral Reserves increased significantly compared...Read More
Alacer Gold (TSX: ASR; US-OTC: ALIAF) has tabled a maiden resource for its Ardich gold deposit, located 6 km northeast of its 80% owned Copler gold mine in east-central Turkey. The current resource is within areas 80% owned by Alacer.Ardich contains 6.92 million measured and indicated tonnes grading 1.32 grams gold for 294,000 oz. gold. It also contains 2.2 million inferred tonnes at 1.2 grams gol...Read More
RAPAPORT... Alrosa noted an improvement in demand for lower-value roughin November, even as total diamond sales dropped. Proceeds slid 18% year on year to $274 million for themonth, the miner said Monday. However, sales value and volume were higher thanin October, which "may be indicative of strengthening demand for low-cost,small-sized rough diamonds, which has been declining over the past few mo...Read More
RAPAPORT... Signet Jewelers has launched a brick-and-mortar conceptstore for its e-commerce brand James Allen. The store, which opened on Friday in the Georgetown area ofWashington, D.C., will feature an immersive gallery experience aimed at thebrand's younger consumer base, the retailer said last week. "We're excited to continue executing Signet's customer-first,omni-channel stra...Read More
RAPAPORT... A Bulgari necklace fetched $200,000 at Phillips auctionhouse's first New York sale, exceeding its presale estimate of $120,000 to$180,000. The piece includes 39.35 carats of oval-shaped rubiesand 6 carats of round brilliant-cut diamonds. It was the top-selling lot at theauction, which earned $2.4 million overall, Phillips said. A ring featuring an emerald-cut, 4.91-carat, faint-pi...Read More