Tag Archives: gold stocks
Gold falls in equities and fixed the eurozone talks
Gold fell for the third consecutive session on Wednesday, moving back along with riskier assets, such as nervous investors sold on a lack of progress in the euro zone debt talks and an uncertain U.S. economic outlook. Bullion followed Wall Street lower after French President Nicolas Sarkozy said the plans for Europe’s debt crisis are stuck with Paris and Berlin at odds over how the firepower of the bailout fund raising region. Moody’s sovereign credit rating downgrade in Spain also weighed. (more…)
Gold rises on deal Slovakia, European optimism
Gold rose Wednesday with riskier assets, such as the dollar fell on hopes that the eurozone debt crisis will be included after the parties have agreed to the Slovak regions bailout Fund. Wall Street and industrial metals also posted sharp gains after Slovak lawmakers said they plan to increase the powers and scope of the European rescue fund EFSF expand approve. Bullion broke above the 20-day moving average, which is technically inspired buying.
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PRECIOUS-Gold hovers around $ 1,800 ahead of Fed meeting
Gold prices hovered around $ 1,800 per ounce on Wednesday as concerns about a deterioration in the euro Zone debt crisis supported the safe-harbor sentiment, while the Investors awaited the conclusion of a U.S. Federal Reserve policy meeting for trading cues.
The Fed, which has made it clear that the intention of taking further steps to eliminate the growth, is expected to decide the balance longer-term Treasury notes to boost a faltering economy. (more…)
Many Hurdles Miners’ Keep A Lid on gold and silver stocks
Investors in gold and silver mining stocks in 2011 have been wondering why they perform well, despite record gold prices and margins. There are a number of factors have contributed to reduce stock prices this year. Building a mine is a time consuming and expensive process that takes years. It has to do with drilling results, estimates 43-101, pre-feasibility studies, feasibility studies and obtaining authorization processes, environmental surveys and community discussions on issues such as waste water, power to acquire, and use of hazardous chemicals. All this will take years before the first equipment is ordered and construction begins.
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Pop gold prices Amid panic Jobs
Gold prices were soaring Friday after the worst job numbers in almost one year led to a rush to safety. Gold for December delivery jumped $ 47.80 to $ 1,876.90 an ounce on the Comex division of attention on the New York Mercantile Exchange. The gold price has traded as high as $ 1,884.60 and as low as $ 1,826.90, while the spot price of gold rose by $ 58, depending on Kitco’s gold index. (more…)
Gold rallied to a record above $ 1,900 an ounce, Gartman said the prices will go “parabolic.”
Gold rallied to a record above $ 1,900 an ounce, the metal pushed overbought levels according to technical analysis tools, such as economist Dennis Gartman said the prices will go “parabolic.” Bullion relative strength index has topped 70 since Aug. 5, a signal to some investors who study technical charts that prices can be set down. Gold hugged the upper Bollinger band for most of this month, possible resistance to the signal, while a moving average convergence / divergence indicator and Elliot Wave patterns suggest prices are overloaded, said Ross Norman, chief executive officer of London bullion brokerage Sharps Pixley Ltd. (more…)
Gold steadies near live high, hang economy concerns
Gold held steady on Wednesday, hovering near a lifetime high around $ 1,778 an ounce beaten in the previous session, but further gains could be limited by a rebound in equities after the U.S. Federal Reserve pledged to keep rates near zero.
Stocks bounced in Asia after U.S. stocks jumped to unprecedented commitment by the Federal Reserve to raise interest rates to maintain near zero for at least two years, although the move confirmed fears that the U.S. economy will remain weak for much longer than previously expected.
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