Gold Alert

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Gold Prices. Gold Stocks.
Updated: 50 weeks 1 day ago

Gold-Silver Ratio Climbs, Breaks 63

Mon, 06/17/2013 - 19:36
Categories: Gold News

FOMC to Meet Tues-Wed: Gold, Silver to Rise?

Mon, 06/17/2013 - 19:23
Categories: Gold News

Silver Sinks Under $22

Mon, 06/17/2013 - 19:18
Categories: Gold News

Gold Prices Trade Sideways Near $1,400

Mon, 06/17/2013 - 18:30

GOLD PRICE NEWS – The price of gold fell $4.50 to $1,385 per ounce Monday night in light trading.  Gold prices continue to consolidate near $1,400 per ounce.  Silver also moved lower as gold’s sister precious metal fell nearly 1% to $21.88 per ounce.  Precious metals have traded sideways in reent weeks as the U.S. dollar has failed to gain ground against its foreign counterparts.

Scotia Mocatta’s Simon Weeks noted the fact that “Sideways would appear to be very much the order of the day at the moment with the $1,395 – $1,400 level looking like a tough nut to crack on the upside whilst the $1,365 – $1,375 range has been providing solid support on dips.”  Weeks pointed out that “ETFs continue to lose inventory and the metal continues to perform poorly on the crosses whilst on the positive side we continue to see physical off-take on dips – all of which means that in the short-term we are going nowhere fast, but given the markets inability to attract fresh money one has to think that at some point, and we could be talking the autumn here after a quiet summer, that the weight of liquidation and negative sentiment will weigh increasingly heavy on the price.”







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Precious metals stocks traded near unchanged on Monday.  The Market Vectors Gold Miners ETF (GDX) rose $0.07 to $28.19, led by a $0.25 gain for Newmont Mining (NEM).  Global X Silver (SIL) sank $0.11 to $13.49.  Fortuna Silver (FSM), which was rated a new “Buy” by Dundee equity analyst, Chris Lichtenheldt, fell $0.07 to $3.52.  Silver Standard Resources (SSRI) sank $0.15 to $7.07 and has now fallen 52% in 2013.







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TD Securities analyst Dan Earle downgraded shares of Torex Gold (TXG-T) this morning, noting “Torex announced receipt of its environmental permits for the Morelos Gold Project (100%); construction is expected to commence in July.  The company has $381mm in cash (Mar 31) which it expects to spend over the next 12 months; we forecast additional financing of $500mm over the next two years without considering potential cost overruns.”

Earle went on to note, “We are downgrading to REDUCE to reflect our concerns re near term financing and valuation; we do not view the company as a strong acquisition target and do not see continued exploration as a positive catalyst.”







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On the other side of the coin, Macquarie Capital Markets analyst, Michael Gray, reiterated its “Outperform” rating and raised its price target to $3.75 from $3.50 on shares of B2Gold.  Gray highlighted the, “plethora of exceptional targets, all permitted for drilling within its Mining Licence.”  Gray noted, “B2Gold is well positioned for the documentation of near-pit resources and the discovery of raw, potentially game-changing new zones associated with regional targets.”







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All eyes turn to Fed Chairman Bernanke this week.  Martin Murenbeeld, Chief Economist at Dundee Wealth Economics, highlighted this week’s Federal Open Market Committee meeting as key for the gold price’s direction.  Murenbeeld noted the market’s concern with “Fed tapering” and reiterated the importance of this week’s (June 18-19) FOMC and the press conference that will follow. Dundee’s chief economist stated, “Let me therefore repeat my position that the Fed will not “taper” soon. The Fed is currently buying $85 billion ($45 billion Treasuries, $40 billion MBS) and I expect it to continue 





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purchasing at a rate of $60-85 billion per month through year-end. (There will be, I think, a small “tapering” before the year is out.) Fed purchases will end sometime in 2014, but if Janet Yellen is Bernanke’s successor – which is most likely – then the end will be later rather than sooner.”

Gold prices have been unable to gain any upside traction as investors focus on when and at what rate the Fed will begin to end its asset purchase program.  With interest rates firmly planted in negative territory, the fundamental backdrop for the price of gold is bullish, however, until investor sentiment improves, the current consolidation is likely to continue.

 

 

 

 

Categories: Gold News

Gold Price Consolidates Ahead of Fed

Mon, 06/17/2013 - 18:13

Headline only

Categories: Gold News

Gold Prices Down Due to Strong U.S. Economic Data

Fri, 05/31/2013 - 10:29

Gold prices are down today after a steady gain yesterday.  Gold was reported at just below $1,400 an ounce this morning as the U.S. dollar got stronger thanks to recently released U.S. economic data. The precious metal continues to disappoint investors and analysts.

 It continues to be a rough day for numerous mining and ETFS stock which also saw their stock stumble. Randgold REsources Limited, Harmony Gold Mining Co. Ltd. and Sprott Physical Gold Trust were the only stocks to see their prices rise. After a few days of being negative, Physical Asian Gold also saw their stocks gain nearly 2%.

Categories: Gold News

Gold Prices Shot Up, US Dollar Falls

Thu, 05/30/2013 - 10:39

The price of gold shot up today as the precious metal hit a new two week high. Now priced at around $1,416.15 an ounce, gold seems to be stabilizing after it has only slightly increased in the past few days. The US dollar also declined today helping the precious metal gain traction. 

 This comes after news that the jobless claims in the United States has increased following a patch of steady decline.  The Labor Department reported that almost 10,000 people applied for unemployment in the past week alone increasing it to about 354,000 people. 

 In mining stocks and ETF, all stocks saw an uptick in stock except Physical Asian Gold which decreased by $1.75. Randgold Resources Limited gained $3.52 while Harmony Gold Mining Co. climbed 11.6%. 

 

Categories: Gold News

OK Day for Gold as it Slightly Rises

Wed, 05/29/2013 - 11:25

Usually when the price of gold declines, the U.S. dollar becomes stronger. This was the case today. As the U.S. dollar dipped, the price of gold slightly increased giving hope to downtrodden investors. Currently, gold is $1,388.06 an ounce. 

 It was also a relatively good day for mining stocks and ETFS. Although numerous companies saw their stock increased it was only by a few cents. The biggest riser was Randgold Gold Mining Co. Ltd that increase $1.57 while Agnio-Eagle Mines Limited saw their stock grow nearly 2%. When it came to ETFS, Physical Asian Gold was again the only ETF that did show a profit. The ETF was down almost 1.3%.

Categories: Gold News

Gold Price Drops Due to Strong US Dollar

Tue, 05/28/2013 - 09:00

It’s bad new yet again or gold as the U.S. dollar is reported stronger and investors and analysts all but has given up hope on the precious metal.At the moment gold prices are down nearly $5 from this morning and are steady around $1,387.77 an ounce. 

 This factor could be directly related to news that Industrial Banking Firm, J.P. Morgan Cazenove slashed their gold outlook to $1,595 an ounce, down from $1,745 an ounce. They also cut down their outlook for 2015, stating that the price of gold would be around $1,650 an ounce which is down almost 5%. Although gold still has time to prove investors wrong, it’s not off to a very good start.

Categories: Gold News

Physical Asian Gold Down, Seabridge Gold up 13 cents

Mon, 05/27/2013 - 10:12

Gold is down today and is now hovering around $1,373.69 an ounce. With all this inconsistently the precious metal is not the safe haven it used to be. Investors used to buy gold knowing that they would get a good return on their investment. Today, not so much. With the price of gold going up and down daily, investors don’t want to take on the roller coaster that is associated with gold. Instead they chose to invest in stocks that are more promising.

 Still many analysts and gold metal enthusiasts beg to differ, stating that gold prices will rise again, it just needs time. With many countries selling their gold reserves and the wedding season upon us, things seem like they’re looking up for the time being. 

 When it comes to mining stocks, most stocks were down while all ETFS stocks were negative. Only Eldorado Gold Corp, Novagold Resources Inc. and Seabridge Gold were up, eight cents, four cents, and thirteen cents respectively. Physical Asian Gold was down $1.75 while Randgold Resources was down $2.21.

Categories: Gold News

To Buy, Keep, or Sell

Fri, 05/24/2013 - 08:13

Deciding when, how, and where to invest isn’t easy. If it were, more people would do it and everyone would be rich. Investing is tricky and there’s an amount of risk that goes into investing whether it’s stocks, gold, or a budding company.

 When it comes to gold, anything could happen. Many analysts are confident that this is the end for gold. For others like Paul Schatz, the president of Heritage Capital, well he still thinks gold has a little fight left in it. In a note to clients he wrote, “I do not believe there is enough evidence at this time to conclude that the secular bull market in gold has ended.” In fact he thinks people are too negative when it comes to gold prices. His advice? “If you give it a little room I think the next big move in gold is to the upside.”

 Buying, keeping, and selling stock is a private matter. People like Schatz can give you suggestions, but you ultimately must make the decision. With such a volatile market, chances are we’ll see prices ebb and flow before leveling out. But if you expect it to happen overnight, it just won’t happen.

Categories: Gold News

Gold Up This Morning, But For How Long?

Thu, 05/23/2013 - 10:19

Gold is up yet again today. The precious metal is being traded at $1,390.85 this morning. As before, investors are still cautious as they don’t know how long this will last. Since the price of gold plummeted April 15th igniting spot losses across the country and then slowly gaining steam only to fall again. As a result, investors have been wary about the precious metal, some even second guessing investments. 

 When it comes to mining stocks and ETFs, it’s just like any normal day with some stocks having a great day while others are seeing their numbers fall. Seabridge Gold is trading at $10.06, about 4.25% higher than previous while Physical Asian Gold an ETF, is trading at about $3 higher than yesterday. 

 

Categories: Gold News

Gold Increases $6.50, But Can It Last?

Wed, 05/22/2013 - 11:08

Gold is up yet again today, but investors are still cautious and for good reason. Gold increased a mere $6.50 this morning, but what are the chances that it will stay like this? Yesterday the price of gold increased for the first time ending an eight day losing streak. The precious metal which used to be viewed as strong, a safe haven, and a secure investment is now fragile. Many investors refuse to touch it, fearing that the price of gold will plummet and thousands of dollars will be lost. 

 When it comes to mining stocks, Kinross Gold Corp. was up 5.3% to $5.77 while other mining stocks such as Seabridge Gold and Eldorado Gold Corp. also saw their stocks trading upward. In fact, CMCI Gold TR ETN UBS E-Tracs was the only stock, ETFS and mining that saw their stocks decline. Fortunately it only did so by a mere ten cents.

 Today was a positive day for gold, but will it continue to be positive tomorrow?

Categories: Gold News

7 Day Losing Streak for Gold-Longest in 2 Yrs

Fri, 05/17/2013 - 10:13

For the seventh day in a row gold prices have decreased making it the longest losing streak in two years. This doesn’t bode well with investors as gold futures are at a one-month low of $1,370.70. Thanks to the Federal Reserve’s quantitative easing program, the U.S. dollar has been getting stronger which is usually synonymous for a decrease in the price of gold.

For decades gold was seen as a great investment because you would always get a return on your purchase. Unfortunately, gold is just not as stable as it once was. A little over a month ago, gold prices hit the lowest it’s been at $1,352.60. Today prices are inching lower and lower and have many wondering how low it will go.

When it comes to mining stocks and ETFS, every stock reported a loss today. The highest being Harmony Gold Mining Co. who posted a loss of 2.7%. Yesterday we reported that Randgold Resources was one of the only stocks who posted a gain has now fallen a little over 2.5% today.

Categories: Gold News

Gold Inches to a All New Low

Thu, 05/16/2013 - 10:41

It’s bad news for gold this morning as prices are down yet again. With gold prices at $1,383 an ounce, gold has hit a new month low. Many investors are worried and selling their shares like hotcakes in case gold stocks fall further.

Tim Riddell, the head of ANZ Global Markets Research in Asia states, “The recent stronger profile of the U.S. dollar has undermined some of the financial investments side of buying gold.” It also doesn’t help that India is restricting the amount of physical gold that an investor can buy.

Many investors want to hold on to hope especially when gold bars are selling at an all-time high in China. In China, physical gold is $5 an ounce, up from just $3 last week.

Fortunately that’s the only thing that’s up as mining stocks and ETFS are also on the decline. Although a few mining stocks were in the positives this morning such as Gold Fields Ltd which was up nearly 0.1% and Randgold Resources Limited up 2.75%, ETFS were all negative except for Junior Gold Miners ETF which was up four cents in trading.

With gold prices continuously falling, the safe-haven that owning gold once provided might not be worth anything in the long run.

Categories: Gold News

Gold Prices Continue to Fall

Wed, 05/15/2013 - 10:06

Gold is still in trouble as it continues to fall. This morning gold prices are down $12.61 to $1,413.60 an ounce sparking  investors to worry that the downward trend will continue.

This hasn’t been gold’s month or really even its year. Just one month ago prices of gold tumbled to under $1,400 an ounce, a two-year low that sent analysts, investors, and miners scrambling to fix this problem, if it was even fixable.

Now thanks to a strong U.S. dollar and the continual weakened economy in the US and overseas, gold prices are suffering. Analysts from Goldman Sachs even go as far as to say, “We expect that gold prices will continue to decline, should our economists’ forecast for a reacceleration in U.S. growth later this year prove correct.”

This wasn’t a great morning for mining stocks either both ETFS and otherwise. Everyone saw their stocks drop except Novagold Resources Inc. New which saw a change of 0.42% and Physical Asian Gold which increased 0.19% despite India’s stricter regulations of the precious metal.

Categories: Gold News

Mine Collapses in Indonesia, Killing 3

Tue, 05/14/2013 - 09:44

It saddens us to report that three miners were killed after a tunnel collapsed at Freeport-McMoRan Copper & Gold Inc. in Indonesia. An official for the mine stated that 40 people were inside the tunnel when it collapsed and rescue efforts are in the process of freeing the remaining miners. So far three have escaped and for have been rescued, needed medical treatment.

Despite this accident, the mine still expects to mine over 1 billion pounds of copper and 1.2 million ounces of gold. Currently the price of gold is down $3.87 to $1,428.27 an ounce while copper is trading at $3.33 a pound.

Categories: Gold News

Gold Decreases, What Does it Mean for Mining Companies?

Mon, 05/13/2013 - 08:44

That was until it reached its peak in September 2011 at more than $1,900 an ounce. Compare that to April 15th when prices of gold came crashing down to less than $1,400 an ounce and you’ve got yourself a predicament.

Jared Baker, the head of commodities sales in Asia for Credit Suisse explained, “…this dramatic fall is causing a strategic rethink…there needs to be more focus on getting back to running profitable operations.” And re-think they have as many gold companies are re-budgeting and rethinking larger operations to see what they can do to cut costs.

Pertaining to mining stocks, Eldorado Gold Corp and Nevsun Resources Ltd. were the only stock that increased rising nearly 1% to $7.55 and 0.82% to $3.65 respectively. When it comes to ETFS, Junior Gold Miners ETF Market Vectors were up 0.58%.

Categories: Gold News

Gold Hits a Two Week Low

Fri, 05/10/2013 - 10:43

Just when gold investors thought the worst was over, gold hit an all new two-week low. Gold is now trading at $1,427.00, $41 less than yesterday. This is largely due to the strengthening of the American dollar which consequently hit a two-week high. With rumors circulating that the Federal Reserve would soon end its quantitative easing program did nothing but excel the price of the American dollar and lower the price of gold.

Gold stocks were not promising as every major mining stock reported a loss from Iamgold Corp.’s 4.8% loss to Junior Gold Miners ETF Market Vector’s 2.72% mining stocks and ETFS were hit hard this morning.

If the American dollar continues to rise, the price of gold will continue to fall. And if it’s true that the Federal Reserve will begin to ease its quantitative easing program, the price of gold will only get lower.

Categories: Gold News

Bad News for Gold as Prices Slip

Thu, 05/09/2013 - 10:54

If anything gold prices have been volatile over the past few months and today isn’t any different. Gold prices dipped slightly today as investors were about to breathe a sigh of relief that the worse was over. Due to a small increase in the U.S. dollar, gold prices are down $9.30 to $1,464.50 an ounce.

In related news, Korea slashed its interest rates earlier his morning while the Euro Zone economy is weak and could get weaker in the coming months. China also reported that  the price index have dropped which usually indicates the production of gold in China has been slowing down. These are not good signs when it comes to gold prices, and at his point investors can only hope for the best.

In mining stocks, most of the stocks were down anywhere from one cent to 43 cents while Franco Nev Corp’s stock rose the most and that was only by eight cents. ETFS stocks fared worse with Physical Asian Gold down 0.73% and Gold Miners ETF Market Vectors down 0.85%.

Categories: Gold News