Weekly Roundup

A near flat week for gold

October 9,2020

Gold bounces back

October 2,2020

A pullback after major ramp up

Aug 14, 2020

Gold declined -5.3% this week to US$1,943/oz, in reaction to a rise in US treasury yields and the dollar index, and as a natural pullback after an eight-week, 21.8% surge off US$1,684/oz lows in early June, to last week's peak close of US$2,052/oz.Read More

Blasting through yet another resistance level

Aug 7, 2020

Gold ripped through yet another critical level this week, breaking above US$2,000/oz, with the futures seeing its strongest weekly bounce in months, up 7.2%, to close at U$2,083/oz, with an increasingly parabolic looking move for gold.Read More

All Time Highs

July 31, 2020

The gold futures surged to historical highs this week, peaking at US$1,995/oz intraday on Monday, before a pullback to end the week up 4.8% at US$1,973/oz, substantially above all-time intraday highs set in 2011 at US$1,921/oz.Read More

The wind at gold's back

July 24, 2020

The gold futures price blew through any resistance at US$1,800/oz, to peak at US$1,883/oz this week, as a falling US$, global stimulus, a potential vaccine and new MPC member were all wind at gold's back, putting the US$1,921 all time high in reach.Read More

Sustaining a week above US$1,800/oz

July 17, 2020

The gold futures price was sustained above US$1,800/oz for an entire week for the first time in nine years this week, although it ticked down for the week by -0.7% to US$1,808/oz.Read More

Gold makes solid break through US$1,800/oz

July 10, 2020

The gold futures price solidly broke through US$1,800/oz this week, and after briefly breaching the level last week, held above it for three days, peaking at US$1,818/oz on Wednesday and closing at US$1,809/oz on Thursday.Read More

Gold briefly breaches US$1,800/oz

July 3, 2020

The gold futures price closed above US$1,800/oz for one day this week, and while it retreated after to end the week nearly flat at US$1,773, this was a key level for the market, and marked a new seven and a half year high.Read More

Gold at highest levels in over seven years

June 25, 2020

The gold futures price jumped 2.7% this week, breaking above a US$1,770/oz resistance level that had held for two months, while the spot gold price reached US$1,757/oz, near its highest level in seven and a half years.Read More

Gold continues its high level holding pattern

June 19, 2020

The gold price edged down -0.2% this week, and continued to trade around the middle of its range over the past two and half months. Looking at the gold price in a longer historical context, this week we compare gold to the monetary base.Read More

Gold remains preferred hedge against risk surge

June 12, 2020

Gold rose 0.9% this week to US$1,735/ounce, off lows of US$1,689/ounce (Figure 1), and the third reversal off dips around US$1,700 in a month, as gold remains a preferred hedge against surging economic risk and a 75 year low in global growth.Read More

Miners dip with strong gold price already baked in

June 5, 2020

Gold was down -0.8% this week, but was relatively volatile interweek, in keeping with a price bouncing between US$1,680-US$1,760/ounce for the past two months, with risks neither subsiding or increasing enough to lead to a breakout either way.Read More

Miners dip as gold pauses on global health risk declines

May 28, 2020

Gold was up 0.5% this week, but has declined -1.9% off its most recent peak over the past two weeks, as global health risks have begun to decline; we look at falls in the gold price in the 2009 to 2012 bull market this week to put this retreat in context.Read More

Gold breaks out briefly, junior miners see gains

May 21, 2020

The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More

Global gold mining stocks take a pause

May 15, 2020

The global gold mining sector was generally flat this week, as the gold futures price edged up less than a percent, and investors likely locked in some profits after the substantial two month rebound in the sector.Read More

Junior Gold Miner Weekly May 8 2020

May 8, 2020

The gold price paused this week, with the futures dipping a marginal -0.9%, but gold mining stocks continued to rise, with the GDX up 8.6%, as decent Q1/20 results came through this week,while the GDXJ rose 7.5%. Read More

Junior Gold Miner Weekly May 1 2020

May 1, 2020

The GDXJ this week briefly returned to its levels prior to the financial crisis, before sliding about 5% below pre-crisis levels, as gold has remained strong and concerns that juniors would have severe difficulty sourcing capital have begun to subside.Read More

Gold mining stocks have strong week April 24 2020

April 24, 2020

While the nearest gold futures price ticked up just 1.6% this week, gold mining stocks generally surged, as investors seemed to be considering that gold holding above US$1,600 may not be a blip, but rather the new normal.Read More

Junior Gold Miner Weekly April 17 2020

April 17, 2020

While the gold price rise paused this week, with the nearest futures contract near flat at - 0.6%, this is still a 17% recovery off the lows, and a 9% gain from pre-crisis levels, and the global junior gold mining sector continued to curb its losses since the crash.Read More

Junior Gold Miner Weekly April 10, 2020

April 10, 2020

Gold continued to be one of the strongest global assets this week, with the futures up 6% to multi-year highs of US$1,741, and gold is still up 10% over two months, when the S&P 500, Eurostoxx, silver, copper and crude all saw double digit declines.Read More

Junior Gold Miner Weekly April 3 2020

April 3, 2020

Gold dipped 1.9% this week, marking a period of relative calm compared to the chaos of the previous two weeks, and importantly gold has maintained an average price of over US$1,600/ounce during the crash.Read More

Junior Gold Miner Weekly March 27 2020

March 27, 2020

This week saw the reverse of a margin call driven plunge in the gold price that occurred through mid-March 2020, as even more severe monetary stimulus measures were introduced this week, sending the gold price up 10.6%.Read More

Junior Gold Miner Weekly March 20 2020

March 20, 2020

After holding up well in the first two weeks of the current market crisis, gold was hit this week, falling 10%, but has declined much less than equity markets and other major commodities over the past month.Read More

Junior Gold Miner Weekly March 14 2020

March 14, 2020

Following 'the great crash of 2020' of the past three weeks, in this report we compare gold's recent performance versus the S&P 500 index to the last three material US market crashes, 2008, 2000 and 1987.Read More

TSX gains ground on stimulus bill and higher gold prices

March 27, 2020

Higher crude and gold prices alongside Canada’s newly announced stimulus package saw the Toronto Stock Exchange’s S&P/TSX composite index rise 29.68 points, or 0.24%, at 12,600.76 at 10:07 a.m. ET (14:07 GMT). The TSX reacted similarly to other equity markets following news of a $2 trillion package approved by U.S. politicians to alleviate the economic impact of the virus outbreak...Read More

Gold stumbles on its continued upward trajectory

March 14, 2020

Gold slipped more than 4 per cent to $US1,575.20 per ounce as investors attempted to offset losses elsewhere. Analysts view this as an interim correction given gold prices’ steady increase since the start of 2020. Most recently, gold price rose above $1,700 an ounce on Mar 8 — at levels last seen in December 2012. Russia leaving OPEC, Saudi Arabia lowering oil prices and the WHO dec...Read More

Junior Gold Miners benefit from TSX slip amid coronavirus fears

March 09, 2020

Canada's main stock index saw a dip on Thursday, as investors grow concerned over the economic impact of the coronavirus. As a result, Canadian junior gold miners benefited from safe-haven demand. At 9:49 a.m. ET (1449 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 206.48 points, or 1.23%, at 16,573.05. The materials sector, which includes precious and base metals...Read More

Gold Continues to Rise, Set to Test $1,700 Resistance

March 02, 2020

Mounting fears about the coronavirus becoming a global pandemic are continuing to fuel investors’ interest in gold as a safe-haven asset to counter the uncertainty. This, in turn, sent gold prices soaring to seven-year highs at the start of the week. In such a risk-off climate, gold prices surged up 14 out of the past 16 days through February 25, setting itself up to test resistance at $1,7...Read More

Gold Stocks Soar As Price Hits 7-Year High

February 22, 2020

Thursday saw the price of gold reaching its highest level since early 2013. As a result, investors’ interest in gold stocks soared as they flocked towards Canadian junior gold miners to diversify their portfolio. Canada’s main stock index TSX also touched a new high on Wednesday, boosted by gains in energy and gold stocks. The materials sector, which includes precious and base metals...Read More

Prices rebound as gold stocks surge on higher gold sales

February 14, 2020

The trading session on Thursday saw gold prices reaching towards the $1,580 level – another strong performance in a series of consistent results since the start of the year. The surge in gold prices of 0.7% on Thursday comes amidst mounting concerns over an increase in the number of new coronavirus cases, fuelling demand for safe-haven assets. As a result, major US and European stock indexes...Read More

Gold prices rally as coronavirus fears hit oil prices

February 09, 2020

At the start of this week’s Friday, Canada’s main stock index fell, weighed down by losses in energy shares. Oil prices continue to take a hit over rising worries over the potential economic damage from a coronavirus outbreak. At the same time, gold continues to gain momentum as investors are plowing into the yellow metal as a safe haven in times of increasing economic uncertainty. La...Read More

Gold stabilizes as U.S. corporate results outweigh virus risks

February 03, 2020

On Thursday, Canada's main stock index TSX registered a small increase on strong U.S. corporate earnings and improved risk appetite in the midst of ongoing threats from a coronavirus pandemic. Gold climbed to a near three-week high on Monday as growing concerns over the economic fallout of the coronavirus outbreak saw investors looking for safe havens. Spot gold was up 0.4% at $1,577.31 per ounce...Read More

As TSX slips from record high, gold stocks weigh

January 26, 2020

Canada's main stock index saw it last session end in gains on Tuesday, as energy and gold stocks fell following an increasing global panic due to concerns over a virus outbreak in China. Markets worldwide fell with the materials sector losing 1.3% as gold futures falling 0.2% to $1,555.1 an ounce. The price of gold lost 0.15% on Tuesday, extending its short-term consolidation. This comes after la...Read More

Gold stocks post new records after U.S. seals trade accords with China, Mexico and Canada

January 20, 2020

Gold stocks and futures for Canada's main stock index rose on Friday following data showing the Chinese economy stabilizing. The Toronto Stock Exchange's S&P/TSX composite index closed up 0.40% at 17,484.77 on Thursday. As a result, Canada's main stock index rose to another all-time high on Friday. The materials sector, which includes precious and base metals miners, gained 0.1% as gold price...Read More

A Record Week for Gold as Iran Tension Eases

January 13, 2020

The first week of January of the new 2020 kicked off with a 330-point rise in the Dow Jones industrial average. The S&P 500 climbed nearly 0.7%, while the Nasdaq gained 0.8%. The Toronto Stock Exchange's TSX rises 0.39 percent to 17,235.57. Investors and analysts have been closely monitoring the stock market as both gold and oil are skyrocketing higher on account of the building global tensio...Read More

TSX marks New Year with a strong start

January 04, 2020

Canada's composite index TSX started 2020 with gains as stocks rose to all-time highs on Thursday as the strong rally in 2019 was set to continue in the first trading day of the New Year. The latest performance of the index is a mark of a strong upcoming year, possibly the best since the global financial crisis, powered by returning confidence in the global economy in the wake of an imminent U.S.-...Read More

TSX hits record high as USMCA deal passes

December 29, 2019

Canada’s main stock index the TSX hovered below record highs on Monday, following comments from U.S. President Donald Trump’s that a preliminary trade deal with China would be signed “very shortly”. On Friday, Canada’s main stock index hit a record high after the U.S. House of Representatives approved a new North American trade deal. As a result, gold price - which t...Read More

Gold consolidates recent gains as markets roll into Christmas

December 21, 2019

As markets are rolling into the holiday season, Friday saw Canada’s main stock index edge higher. This comes right after news from China about cancelling tariffs, which is scheduled to take effect on Sunday and an agreement on the first phase of a trade deal between US and China. At 09:47 a.m. ET (14:47 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 11.06 points...Read More

Gold Stocks Expected To Soar After Comments From Trump

December 09, 2019

Gold rallied about 1% in the past week, closing at a nearly one-month high of $1,484 an ounce on Tuesday. As a result, the majority of gold stocks shot up. Leading the way were Harmony Gold (NYSE:HMY), Sibanye-Stillwater (NYSE:SBGL), and Coeur Mining (NYSE:CDE), which all rallied around 10% on the same day. The TSX posted nine new 52-week highs and no new lows. 2019 has been an eventful year for...Read More

Gold stocks continue to climb as TSX notches fourth straight record

December 02, 2019

Canada’s main stock index rose to a record high on Thursday, largely due to gains from the materials sector. The materials group, including precious and base metal miners, added 0.6 percent. Gold was up 0.3% at 1,458.1 an ounce, which led to an increase in value of gold stocks as well. The Toronto Stock Exchange’s S&P/TSX composite index rose 13.95 points, or 0.1%, to 17,114.52. I...Read More

Gold Stocks' Winter Rally?

November 23, 2019

Junior gold miners’ stocks have enjoyed a surge in 2019, blasting higher after gold’s first bull-market breakout seen in several years. Following a powerful summer rally, some of the Canadian miners’ stocks were really overbought, which resulted in a correction to rebalance exuberant sentiment. That grinding consolidation lower set them up nicely for their winter rally – th...Read More

Gold stocks rally for a stronger week on a fear of global slowdown

November 17, 2019

It has been a dynamic year for the Canadian gold mining sector and especially for junior gold miners. As the price for gold has started to rally due to a number of factors in the global economy and financial markets, gold mining stocks are coming out as some of the best performers. In the past months, more investors have been rushing to store their capital in safe-haven assets, while trying to bea...Read More

Gold recoups some of recent losses on White House pushback

November 09, 2019

Gold continues to lead metal-sector outperformance within a challenging broader commodity market, in the past week. Although gold prices dropped Thursday to post their lowest finish in three months and largest weekly percentage decline in more than a year, gold futures settled higher Wednesday, a day after the precious metal lost its grip on the psychologically significant $1,500 mark amid gains i...Read More

Junior Mining Equities on Downtward Trend Admist A Rising Gold Price

November 01, 2019

Last week saw the junior gold miners continue their downward trend despite gold prices demonstrating further gains in the metals space. The yellow metal continues to hover around the US$1,500 per ounce level for almost six weeks, with some volatility during this period that saw prices rise and fall briefly to US$1,535 and US$1,471 per ounce, respectively. The stable trend in the price of gold and...Read More