The Economic Times of India reports higher gold prices have slowed a generally robust festival demand in Indian spot market. MUMBAI: While traditionally festival season starting from Daserra to Diwali have been perceived to be an auspicious time to buy gold, peculiarly higher prices have tamed the demand outlook this year. President, Bombay Bullion Association, Mr. [...]
Reuters reports gold fell about 2 percent today after peaking a 2-1/2 month high as a drop in the global equity markets forced a broad-based commodities sell-off. Spot gold was quoted at $897.00/901.00 an ounce at 1436 GMT against $911.50 an ounce late in New York on Thursday. Earlier it touched a session low of $887.95. For complete story, click this [...]
MIneweb(EDITORIAL) reports on Wednesday strong in-flows of cash from investors were attracted to the listed gold stocks as interest rates were cut by some leading banks. As an illustration of the extent of volatility, BHP Billiton, the world’s biggest diversified resources group, opened for trade in on Wednesday London at GBP 10.13 a share, down sharply from [...]
MarketWatch reports gold prices fall as US dollar strengthens and traders lock into gains. Gold for December delivery dropped $11.50 to $895 an ounce on the New York Mercantile Exchange. Earlier, gold hit an intraday low of $885 an ounce. Other metals, however, posted gains. James Moore, an analyst at TheBullionDesk.com, notes: “While yesterday’s coordinated [...]
Reuters reports gold prices in India eased on Monday. In the local market, demand was still thin as buyers stayed away on hopes for further fall, they added. “Another 5 percent fall from current levels will make people buy gold again,” said Daman Prakash, director of MNC Bullion Pvt Ltd, a wholesaler in Chennai. For complete [...]
Reuters reports gold is down by more tham five dollars at a 2 week low. Gold was trading at $829.40 an ounce, down $5.40 from New York’s notional close on Friday, when it hit a two-week low of $818.70 after the U.S. House of Representatives voted to pass a $700 billion package to bailout the U.S. [...]
MarketWatch reports how sentiment influences gold’s short term markets after having US legislation pass the bill on the bail-out plan on Friday last week. Take Friday, the day in which the much-vaunted Wall Street bailout legislation finally received Congressional approval. There is no reasonable doubt that this legislation will have significant long-term inflationary consequences. And yet, [...]
MarketWatch reports gold falls after Congress approved the $700 billion plan to bail out the financial sector. Gold for December delivery was last down $12.30, or 1.5%, at $832 an ounce on the Comex division of the New York Mercantile Exchange. For complete story, click this link. Follow developments in gold mining and exploration for free.Sign on [...]
Northern Gold Mining Inc. reports its annual meeting of shareholders on Monday 30 September 2008 at its headquarters in Toronto, Ontario. Northern Gold continues its intensive drill program on two projects. With two drills located on its Kirana Project in Kirkland Lake, Ontario, 56 holes have been completed to date. This includes 38 holes on [...]
The Motley Fool(Editorial) reports with the global crisis, gold is still in favor. Amid this financial crisis of historic proportions, gold is once again gaining favor as a tangible store of honest value. Though often maligned as an outdated relic, gold has tripled in value since 2001. Meanwhile, the greenback has declined 33% against a basket [...]
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