Kirkland Lake Gold Reports Profitable Second Quarter
Kirkland Lake Gold Inc. (TSX: KGI) reports net and comprehensive income for the second quarter of C$13.8 million and C$14 million, respectively, or 12 Canadian cents per share.
Read moreGold Rebounds While Labor Report Looms
The biggest news of the day emanated from London where the Bank of England lowered its overnight rate to 0.25%, lowest ever. The central bank also announced other various stimulus measures that hover around the £170 billion.
Some analysts here are saying that this might preclude a rate rise by the Federal Reserve here in the United States as it would spread the strengths of the dollar and pound too much. (The dollar would grow stronger if the Fed raises rates.)
It’s More Expensive To Hold Euros Than Gold – BAML Analyst
(Kitco News) – Gold has been one of the best performing assets this year, making gains of almost 29% year to date, but it is also attractive as a global currency, according to one commodity analyst.
Read moreGold Lifted On Bank Of England Rate Cut; U.S. Jobs Data On Deck
Gold prices ended the U.S. day session modestly higher Thursday, boosted by the announcement from the Bank of England that it is easing its monetary policy.
Read moreBarclays: ETP Inflows For Precious Metals On Pace For Record In 2016
The year 2016 has already topped the previous record for the amount of money flowing into exchange-traded products featuring precious metals, Barclays said Thursday.
Read more“Does The Fed Lie, Or Is It Really Stupid?” – Gerald Celente
After successfully boosting global equity markets with countless trillions of dollars, are central banks finally admitting their policies are failing?
Read moreHecla Profitable In 2Q As Silver Output Jumps 71%, Gold Output Rises 41%
Hecla Mining Co. (NYSE: HL) posted a net profit in the second quarter as production soared and the company also benefited from higher prices of precious metals.
Read moreGold Hit’s Session Highs Following Weaker Initial Claims Data
(Kitco News) – Thursday, the Labor Department said first-time weekly jobless claims in the U.S. increased by 3,000 claims to seasonally adjusted 269,000 during the week to Saturday.
Read moreSpot Gold Up More Than 1% Against British Pound After BOE Rate Cut
(Kitco News) – A slightly stronger U.S. dollar is not providing a significant drag on gold prices Thursday morning as the precious gets a lift in the broader currency markets, especially against the British pound.
Read moreGold Erases Overnight Losses, Sees Modest Rally, As Bank Of England Eases
Gold prices are modestly higher in early U.S. trading Thursday and recovered overnight losses following the announcement from the Bank of England that it is easing its monetary policy.
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