Gold Still Has Some Momentum Despite Wednesday’s 1% Drop – Analysts
(Kitco News) – The gold market is seeing shrinking upside momentum as investors focus on record levels in U.S. equity markets; however, analysts aren’t quite ready to call an end to the rally seen since the start of the year.
BNP Paribas: Gold Prices To ‘Erode’ As Fed Hikes U.S. Rates
BNP Paribas sees gold averaging $1,210 an ounce in 2017, then looks for the average to decline next year to $1,100, as the U.S. Federal Reserve tightens monetary policy.
Read moreGold Holding Solid Losses In Late-Morning Trading
Gold prices extended moderate early losses to trade solidly lower and back below the key $1,200.00 level in late-morning action Wednesday.
Read moreHSBC: ‘We Think Platinum Can Gain On Gold’
HSBC sees potential for the gold/platinum discount to narrow, meaning platinum outgains gold for a while.
Read moreGold Prices To Fall 8% In 2017 – World Bank
(Kitco News) – The gold market continues to hold onto support above $1,200 an ounce; however, one international financial institution thinks it is only a matter of time before prices fall another $100.
Read moreBarrick: 2016 Gold Output At Upper End Of Guidance
Preliminary 2016 gold production of 5.52 million ounces was around the high end of Barrick Gold Corp.’s (NYSE, TSX: ABX) guidance range of 5.25 million to 5.55 million ounces, the company said Wednesday.
Fresnillo Sees 2017 Silver Output Topping 2016 Record
Fresnillo Plc. (LON, BMV: FRES), the world’s largest primary silver producer, posted record production of the metal in 2016 and expects output to be even higher in 2017.
Gold Pressured By Rallying World Stock Markets
Gold prices are moderately lower in early U.S. trading Wednesday, as a “risk-on” trader and investor mentality is prevalent in the world marketplace this week—evidenced by world stock markets that are on the rise.
Euphoria Hits Gold Rally
Gold managed to tick up to the $1,218 level yesterday before the rally in the equity market ended the momentum.
Read moreFreeport McMoRan Reverses To Profit In 4Q
Freeport-McMoRan Inc. (NYSE: FCX) reports net income of $292 million, or 21 cents per share, for the fourth quarter, a turnaround from a $4.1 billion loss ($3.47 per share) in the same period a year ago.
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