Gold Ends Modestly Weaker, Hits 7-Week Low, Amid Bearish Outside Markets, Greece-EU Deal
(Kitco News) – Gold prices on Monday ended the U.S. day session modestly lower, but well off the daily low, and did hit a seven-week low early on. Some better risk appetite in the market place and bearish outside marketsâ??a stronger U.S. dollar index and lower crude oil pricesâ??helped to pressure gold. April Comex gold was last down $3.90 at $1,201.30 an ounce. May Comex silver last traded up $0.25 at $16.345 an ounce.
Gold, Silver Spec Long Positions Drop For Third Straight Week: CFTC
The latest data from the Commodity Futures Trading Commission (CFTC) show that a lack of safe-haven demand, and growing expectations the Federal Reserve, will raise interest rates in the second half of the year attracting short-sellers to the gold mar…
Read moreMineral Resources Minister Meets With Harmony At Kusasalethu
Following a fire at Harmony Gold Mining Co. Ltd.’s (NYSE:HMY)(JSE:HAR) South African-based Kusasalethu underground mine Sunday, where all 486 miners in the mine were rescued, the country’s Minister of Mineral Resources Ngoako Ramatlhodi paid a visit to the mine.
Gold-Backed ETPs Continue To Attract Long-Term Investors
(Kitco News) – The gold market continues to attract long-term investors as gold-backed exchange-traded products (ETPs) continue to see weekly inflows, despite a drop in future prices.
Read moreU.S. Existing Home Sales Fall 4.9% In January
(Kitco News) – The winter chill appears to be impacting the housing market as fewer U.S. consumers bought homes in January, according to the latest report from the National Association of Realtors (NAR).
Read moreGold Bulls Hooked Ahead Of Yellen Testimony
(Kitco News) – Comex April gold futures are weaker Monday, but off overnight lows. For now, gold bulls are tentatively defending a key technical zone, which including a rising bull trendline and key Fibonacci retracement support zone. Fundamentally, all eyes are on U.S. Federal Reserve chairman Janet Yellen this week as she readies for her semi-annual monetary policy testimony to Congress on Tuesday and Wednesday.
First Majestic Posts 4Q, FY Loss; Impairment Stings Earnings
(Kitco News) – First Majestic Silver Corp. (TSX:FR)(NYSE:AG) reported a net loss after taxes for the fourth quarter totaling $64.6 million, lower than last year’s fourth quarter net loss of $81.2 million, while the company’s full-year loss stood at $61.4 million, higher than 2013’s loss of $38.2 million.
Gold Down, Hits 7-Week Low, on Greece-EU Deal, Bearish Outside Markets
Kitco News) – Gold prices are under moderate selling pressure and hit a seven-week low in early U.S. trading Monday, on some better risk appetite in the market place and amid bearish outside markets—a stronger U.S. dollar index and lower crude oil prices.
Gold Could Fall Next Week On Yellen, Tentative Greece Deal
(Kitco News) – Gold prices could see some more pressure in the near-term as the market ends the week in negative territory.
Centerra’s Project Pipeline Poised To Give Sequential Growth
(Kitco News) – With a lot of gold mining companies focused on battening down the hatches and riding out this low gold price environment, while watching costs, Centerra Gold Inc.’s (TSX:CG) project pipeline shows promise.