William Rhind, Head of US Operations for ETF Securities described his perspective on relative gold price movements, “we are going to see a little bit more consolidation and stability around the gold price we saw a big move in the last few days over $100 as its moved up from its low in the $1500s.I think that right now we are looking for a little bit of stability.”
Even as the price of gold has shown considerable upward volatility this year, gold royalties have escaped much of the consideration that has been offered for exposure through gold equities, gold bullion, or gold exchange traded funds.
This week mid-tier gold miner AuRico Gold Inc. announced a $1.46-billion deal to buy Northgate Minerals Corp. eliminating a prior merger offer from Primero Mining Corp.
The price of gold and forecasting any future target price has invariably been the subject of numerous confidential discussions among central bankers; however, if the level of interest in the price of gold is any indication of what is to happen in the future, perhaps it would be a worthwhile observation to follow the trend of the “smart money”.
As the price of gold appears to spiral continually upward among pervasive fears of economic security, Venezuelan President Hugo Chavez has made wide sweeping policy changes in Venezuela to redistribute gold assets and nationalize the industry.
Reuters reported on developments and key facts about India's gold industry.
Bloomberg reported that Venezuela's President announced he will nationalize the country's gold industry.
Gold prices hit a record of $1,814.95 an ounce on Thursday but slipped as investors liquidated their long positions on the back of the CME Group’s announcement that it was raising margins on COMEX gold futures.
Entrée Gold Inc. (TSE:ETG) files its interim operational and financial results for the quarter ended June 30, 2011.
Prices for gold have lately been demonstrating greater sensitivity to news flow out of Europe than positive data out of the United States. With the market seeking out bullish news, confirmation of the European debt crisis will continue to be the strong triggers that will take gold prices up.
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