Angelos Damaskos, manager of the £ 40m fund Junior Gold and CEO of the Sector Investment Managers, up five gold miners best placed to benefit from the upturn in commodity prices. Damaskos said the upward trend in gold price is set to continue as the crisis developed economies remains complex. Read more
The Gold Report: You wrote last summer that “the global macroeconomic picture does not look right,” citing high unemployment in the U.S. and Europe likely would be higher driven by higher taxes and less government spending in the face of major sovereign debt problems. Sounds a bit like Groundhog Day. You could say the same today. How do you feel about the global economy now? Read more
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Gold prices rising at a steady upward trend. They have reached an important milestone of crossing over the psychological $ 1,300 per ounce, and perhaps on their way to the expected price of $ 1500 hit by the end of the year.
Momentum traders and gold investors benefit from the upward trend in gold prices. The trend in trade, a trader is long with an upward trend until the trend is reversed. Read more
Gold Stock NEWS – gold-posting their best month since last August in April-May to see additional gains in September as merger and acquisition activity in the gold sector remains in a record time. That pace accelerated during the night as two major gold producers, Goldcorp (GG) and Eldorado Gold (EGO), clashed over the same target.
Gold Corp. pulled ahead in the race for the Australian based gold digger Andean Resources (AND.TSX) buy when the board of directors of both companies unanimously approved a cash and stock offer worth C $ 3.6 one billion U.S. dollars, or C $ 6.50 per share. The punters a rival bid by an Eldorado Gold for a stock offering valued at EUR only $ 6.36 per share. The agreement represents a 35% premium over Gold Corp. the Andes, aos TSX closing price of C $ 4.81 on Thursday. Read more
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AMSTERDAM, NETHERLANDS AND Limassol, Cyprus – Severstal Gold NV BlueCon Limited, a subsidiary of OAO Severstal (“Severstal”) (RTS: CHMF), announce that BlueCon Limited has its shares of Crew Gold Corporation transferred to Severstal Gold NV No change in the economic ownership has occurred. Severstal remains the ultimate beneficial ownership of those shares. An updated report early warning under applicable Canadian securities legislation will be presented. Read more
Manhattan Corporation has two main topics on its agenda for the rest of the year: enlarge the resource base on its existing uranium projects, and, separately, to acquire an operation of new advanced uranium . Pontoon Drilling on the Manhattan Project in Western Australia will continue, but do not be surprise if the company runs all acquisitive later this year. (more…)
The Gold Price dropped again in London on Thursday, taking this week’s loss to almost $30 an ounce and slipping to 3-week lows at $1102.50.
Emerging-world stock markets shed another 0.8%, while commodities steadied but the US Dollar extended its 5-month highs vs. the Euro.
“With gold breaking out of the lower end of its recent trading range, we now find it difficult to see major upside for the metal in coming weeks,” says Standard Bank’s Walter de Wet. (more…)
Goldman Sachs Group Inc. Chairman and Chief Executive Lloyd Blankfein said he did not step down, despite media reports that he plans to resign it. Blankfein spoke with reporters after Goldman’s annual meeting in Jersey City, NJ, on Friday. The event included tough talk of activist shareholders on topics ranging from climate change to executive pay to legislators and regulators of accusations that the company generates profit from betting against their clients.
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