Gold News

Gold Market Recap Report

admin — Fri, 25 May 2012 20:45:19 +0000

In retrospect the gold market saw a two sided trade this week as the initial pressure in prices was reversed off what appeared to be a focus shift by the gold trade….

Precious Metals Pare Weekly Losses, XAU Inches Higher

admin — Fri, 25 May 2012 19:58:52 +0000

Gold and silver futures advanced on Friday despite stability in the U.S. dollar, but nonetheless finished the week in negative territory. Shares of most precious metals companies were also in the black Friday afternoon, and also significantly outperformed the metals over the five-day stretch. COMEX gold futures for June delivery settled higher by $11.40, or 0.7%, More >

Mid-Session Gold Market Report

admin — Fri, 25 May 2012 17:52:14 +0000

After starting out positive June gold prices managed to add to the initial gains just ahead of mid session. Surprisingly the gold market managed this morning’s gains in the face of adverse currency market action, periodically weak equities and also in the face of a long…

Agnico-Eagle CEO Sees $3,000 Gold amid Firm “Underpinning”

admin — Fri, 25 May 2012 15:58:23 +0000

The latest gold mining executive to forecast a new record high for the price of gold was Sean Boyd, CEO of Agnico-Eagle Mines (AEM). In an interview with King World News this week, Mr. Boyd predicted that the yellow metal will reach a new all-time high of $3,000 per ounce within the next two years. “All of More >

Hot Rolled NYMEX Futures: In the Trade Zone

admin — Fri, 25 May 2012 15:18:54 +0000

Hot Rolled NYMEX: It was a pretty steady week of business with 815 lots having traded, or 16,300 ST as we are in the zone where buyers and sellers are prepared to meet. All of the trades were in the balance of 2012….

Steel Reality MoMo Index Continues Negative Trend

admin — Fri, 25 May 2012 15:18:54 +0000

Utilizing a trailing average Hot Rolled Coil (HRC) price, the SMU/Steel Reality price momentum index for flat rolled steel in the US remained below 0% this past week and Momentum (MoMo) has been negative for the 14th straight week….

Gold tracked the euro lower

admin — Fri, 25 May 2012 15:18:54 +0000

Gold tracked the euro lower en route to its weakest monthly performance since December, pushed down by fears the debt crisis in Europe could spiral out of control and trigger a global economic slowdown.

Mines Management Advances La Estrella Project

admin — Fri, 25 May 2012 15:01:39 +0000

Mines Management (MGN) announced preparation measures, through its subsidiary Minera Montanore Peru SAC, for the upcoming exploration program at its La Estrella gold-silver project in central Peru. The emerging silver company noted that the goals of the initial 2500-meter program are to confirm continuity of mineralization on the southwest side of the deposit, to better More >

Gold Prices Wait for “Bullish Momentum” to Arrive

admin — Fri, 25 May 2012 14:32:13 +0000

GOLD PRICE NEWS – Gold prices advanced modestly Friday morning amid slight weakness in the U.S. dollar and moderate strength in the commodities complex. The spot price of gold crept steadily higher in overnight trading and extended its gains to 0.6% at $1,568.43 per ounce following the opening of U.S. financial markets. However, the gold More >

Morning Gold Market Report

admin — Fri, 25 May 2012 13:55:27 +0000

Compiled 05/25/12 6:00 AM (CT)Statistics: London Gold Fix $1,560.00 $+1.50 LME Copper Stocks 223,500 tons -575 tons.GOLD MARKET FUNDAMENTALS: (6:00 AM CST) At least in the early going today, it would seem like anxiety toward the Greek situation remains in place, but it…