Citi Looks For Gold Prices To Average $1,090, $1,050 In Third, Fourth Quarters
Citi Research sees gold averaging $1,090 an ounce in the third quarter and $1,050 in the fourth, calling for weakness due to macroeconomic conditions.
Read moreGold Weaker on Mild Profit Taking, Chart Consolidation
Gold prices are slightly lower in early U.S. trading Tuesday, on some light profit-taking pressure from recent gains and on some technical chart consolidation.
Read moreGold Finally Acting Like A Safe-Haven Asset
Kitco News – The Chinese stock market sold off sharply again Tuesday, with the Shanghai composite index down more than 6% on the day. Gold prices are finally beginning to act like a safe-haven investment asset after many gold bulls had abandoned that notion. The present technical posture for gold suggests that market has put in a near-term bottom.
The 6PM Recap With Gary Wagner: The Theory Of Theories, Like Blisters That Have Blisters
Every day, fundamentals analysts are called upon to divine the future. So, a theory has to be found for almost everything. Drought? Gold rises. No, wait: drought plus wildfire? Gold falls. It can get a little silly.
Read moreInvestors Jumping Back Into Gold, Silver But Markets Still Net Short – CFTC
A small amount of investors started to jump back into the gold and silver, helping to push prices to a three week high, according to the latest data from the Commodity Futures Trading Commission (CFTC).
Read moreGold Up on Safe-Haven Demand, Weak U.S. Economic Report
(Kitco News) – Gold prices ended the U.S. day session firmer Monday, on some more safe-haven buying and following a much weaker-than-expected U.S. economic report issued in morning trading. Increased speculator buying interest was also seen amid an improving technical picture. December Comex gold was last up $5.50 at $1,118.20 an ounce. September Comex silver was last up $0.077 at $15.29 an ounce.
Endeavour Reports Intersection High-Grade Gold-Silver Mineralization
Endeavour Silver Corp (NYSE: EXK; TSX: EDR) reports that drilling on the Bolanitos property in Mexico has intersected high-grade, gold-silver mineralization within three historic veins — San Ignacio-San Miguel, La Joya and Gabriela. Further, Gabriela mineralization is adjacent to historic mine workings that are readily accessible for development. Recent drilling highlights include 23 grams per metric ton (gpt) silver and 16.2 gpt gold over 4.6 meters true width. “We are encouraged that our exploration drilling continues to find new zones of high grade mineralization at relatively shallow depths within historic veins on the Bolanitos property,” says Luis Castro, vice president of exploration. “The Gabriela mineralization sits adjacent to historic mine workings that should provide easy access for future mining if a large enough block of mineral can be outlined.”
Are Bullish Seasonals Kicking In For Gold Now?
Gold prices edged higher Monday boosted by ongoing risk concerns surrounding China’s devaluation of the yuan.
Read moreCiti Research: Gold Historically Tends To Turn Higher Ahead Of Copper
Citi Research points out that gold historically has tended to enter periods of upward price trends ahead of copper. Going back to 1976-77, the bank lists several instances in which gold turned higher first.
Read moreDushnisky Named President Of Barrick As Management Changes Announced
Kelvin Dushnisky is now sole president of Barrick Gold Corp. (NYSE:, TSX:ABX), with James Gowans – who had been co-president of the company – taking on an advisory role before his planned retirement at the end of the year, the world’s largest mining company announced Monday.