Precious Metals Streaming Companies Are Enjoying This Market
(Kitco News) – Now that Fed Chair Janet Yellen, and every market analyst who has followed the Fed meeting, has obliterated the word “patient” this week, we can all move on with our lives.
Gold Extends Early Gains Amid Sharp Sell-Off in U.S. Dollar Index
Gold prices are moderately higher and have added on to early gains as the U.S. dollar index is suffering a big sell off Friday. The dollar index is poised to close at a bearish weekly low close, which would be a technical clue the dollar index has put…
Read moreLBMA London Gold Price Launches Today
(Kitco News) – Friday is the beginning of a new era as the London Bullion Market Association (LBMA) launches its new electronic-based gold benchmark, London Gold Price, replacing the century old London Gold Fix.
Read moreSalobo Stream Acquisition Made Sense, Always Room For More Deals – Silver Wheaton CEO
(Kitco News) – Silver Wheaton Corp. (TSX:SLW)(NYSE:SLW) has finally broken its radio silence, after they announced that huge $900 million stream acquisition from diversified mining giant Vale S.A. (NYSE:VALE) on March 2.
Read moreGold Up on Follow-Through Buying, Weaker U.S. Dollar
Gold prices are modestly higher on follow-through buying from gains seen Wednesday and Thursday.
Read moreDollar Hampers Gold’s Regular Trading Surge
The Dow is off 0.6%, the S&P is off over 0.4%, although the NASDAQ has been strong.
Gold Sees Follow-Through Buying; Bulls Have More Work to Do
Gold prices ended the U.S. day session solidly higher Thursday, on follow-through gains from Wednesday’s Fed-inspired rally. Short covering in the futures market and bargain hunting in the cash market were featured. Gold bulls still have some work to do to break the near-term price downtrend. April Comex gold was last up $17.00 at $1,168.20 an ounce. May Comex silver was last up $0.564 at $16.105 an ounce.
Gold ETFs Investor Inflows Positive For First Time In A Month
Investors jumped into gold-backed exchange-traded funds (ETF) Wednesday, following a more dovish-than-expected Federal Reserve. SPDR Gold Shares (NYSE: GLD) the world’s largest gold ETF saw an increase in its reserves of 1.79 tonnes to 749.77 tonnes. Some analysts note this isn’t a massive jump, compared to some of the recent outflows, but it is the first inflows seen since Feb. 20. On a monthly basis, GLD’s gold reserves have so far dropped by 13.72 tonnes in March; however, year-to-date, investor interest remains net positive as the ETF has seen its gold reserves increase by 40.75 metric tons.
U.S. Fed Loses Patience; What’s Next For Gold?
With investors and traders continuing to digest the recent Federal Open Market Committee (FOMC) meeting, one U.K-based research firm remains positive on gold prices believing that inevitably higher U.S. interest rates will have only a limited impact o…
Read moreSilver Wheaton’s Salobo Deal To Be Long-Term Accretive – CIBC
Following Silver Wheaton Corp.’s (NYSE:SLW) $900 million stream acquisition of an additional 25% of Salobo’s life of mine gold production, bringing their stream to 50%, analysts at CIBC see the deal as being accretive for the company, beginning in 2016.