Tag Archives: gold price
Gold mines see Action prices are rising, Chitradurga Hutti mine to reopen
As gold prices soar to all-time highs, companies on the verge of mines that were abandoned for various reasons to reopen. India’s only Gold Miner Hutti Gold Mines is reopened closed my Chitradurga after a gap of six years, because at current prices, even these low-grade ore is viable. Others like Hindalco who dig gold mine when they are ready for an unexpected buyer Diwali bonanza out of the yellow metal. “We plan our mine in Chitradurga not been used for the past six years, reflecting the rise in gold prices to revive,” said ML Patil, director of Hutti Gold Mines, a public company. (more…)
Gold rises as jobs data knocks U.S. dollars
Gold prices climbed back above $ 1,460 an ounce and silver also rose on Thursday after U.S. data showing an unexpected jump in jobless claims last week knocked the dollar.
The precious metal came under pressure in earlier trade as speculation that some euro area countries may be forced into debt weighed on the euro but rose gold, quickly returned to session highs after the employment numbers. (more…)
Gold Prices Rise on Jobs Miss, Silver at 31-year high
Gold prices rose Wednesday after a lecture on the companies added jobs in March came in shy of expectations. Gold for June delivery added $ 7.40 to $ 1,424.90 an ounce on the Comex division of the New York Mercantile Exchange. The gold price has traded in a broader range today a high of $ 1,431.70 and a low of $ 1,413.10. The spot gold prices were $ 5, depending on the Kitco gold index.
Employment figures for ADP report was not interpreted as a major miss. The private sector added 201,000 jobs in March, in line with what analysts expected jobs number on Friday. But the catch came in February was revised lower number of 217,000 to 208,000. (more…)
Gold, Silver Prices Plummet on profit-taking
Gold and silver prices tumbled as investors weighed recent highs in precious metals and looked to lock in profits before the second quarter.
Gold for April delivery lost $ 14.70 to $ 1,411.50 an ounce on the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $ 1,430 and as low as $ 1,411, while spot gold price was dropping more than $ 18, depending on the Kitco gold index.
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Gold prices settle lower after Bumpy Week
Gold prices ended slightly lower Friday gold investors digested violent and sudden rally Thursday and a report on employment underwhelming.
Gold for April delivery lost $ 4 to $ 1,349 per ounce on the Comex division of the New York Mercantile Exchange. The spot price of gold traded as high as $ 1,361 and as low as $ 1,345.50. The spot gold price was shedding more than $ 7, depending on the Kitco gold index. The dollar index was 0.37% increase to $ 78.10 as the euro dropped to $ 1.35 versus the dollar. (more…)
Gold Prices Keep $ 1,350 after Jobs Report
The gold price fluctuates after the release of the monthly jobs report initially rallying $ 7.00 on the news and then return half the profits. The price of gold traded at $ 1,351 an ounce – off versus $ 3.00 close yesterday – after the news that 36,000 nonfarm payroll jobs were created, a figure substantially less than the 150,000 expected by economists. On the other hand, unemployment fell to 9.0%, its lowest level since April 2009. Bad weather was blamed for the weak job creation. Gold prices were higher by 1% on the week heading into the last day. (more…)
