ASX gold stocks have slumped with the precious metal since news of a promising COVID‐19 vaccine hit, but some experts believe it can still rebound to a record in 2021.

The price of the precious metal tumbled around 4% in the past week to US$1,877 an ounce. This triggered a 4% slide in the Newcrest Mining Limited (ASX: NCM) share price, 6% decline in the Evolution Mining Ltd (ASX: EVN) share price and 11.5% drop in the Northern Star Resources Ltd (ASX: NST) share price.

In contrast, the S&P/ASX 200 Index (Index:^AXJO) climbed around 3% over the same period. ASX gold stocks losing their glitter

Gold’s lost some of its lustre on growing confidence that the world would soon emerge from the pandemic.It’s also been on a backfoot since media organisations declared Joe Biden the new US president while the Senate remains in Republican hands.This means Biden will find it hard […]

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Howard Ruff’s advice could have set you up for an early retirement in the mid-1970s…

Howard was a newsletter writer. He launched his Ruff Times letter in 1975. He even had his own syndicated TV show.

Howard had a kookiness about him, too. He was widely known as the "Prophet of Doom." He constantly wrote about how the late 1970s and 1980s were going to be worse than the Great Depression.

Heck, he even told readers to stock up on a year’s worth of food… because terrible times were right around the corner.That polarizing commentary was partially responsible for his following. Subscribers came for the outlandish claims, but they stuck around for the big opportunities that Howard wrote about.With his doom-and-gloom outlook, Howard pounded the table to buy gold, silver, and any other precious metal that his subscribers could get their hands on.Howard expected inflation to ravage the U.S. economy. He saw […]

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By VanEck

On Tuesday, October 26, VanEck held its first ever, virtual Gold Insights Afternoon with VanEck & Friends . The idea behind the afternoon was to create a combination of timely insights, actionable ideas and solutions to challenges we have heard from investors. We believe the event was a success and we certainly enjoyed hosting it. By our reckoning, those attending represented over $5.5 trillion in assets under management/advisement.

To complement what investors already knew, and for them to benefit from the sophistication and knowledge of institutional professionals, we wanted to combine, in one place and in one conversation, the perspectives on gold of leading investors, allocators and investment consultants.

The afternoon kicked off with two introductory presentations, the first by Joe Foster, Portfolio Manager of VanEck’s Gold Strategy, on The Investment Case for Gold (see “ VanEck Reasserts Case for Gold Investing as Price Hits All-Time Highs ”) and the […]

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Gold Fundamental Outlook: Neutral

At the beginning of this past week, gold prices tumbled in the worst performance over a daily basis since the middle of August, catching some investors off-guard. Yet, follow-through struggled as the precious metal spent most of its time consolidating afterwards. XAU/USD’s behavior that day served as a reminder for traders of the downside fundamental risks.

This past Monday, Pfizer reported that its Covid-19 vaccine was more than 90% effective in preventing the disease. As a result equity markets, specifically sectors that were most impacted by the pandemic (such as travel and tourism), rallied the most. This optimism also extended into bond markets. Specifically, Treasury yields on the far end of the maturity spectrum soared – see chart below.

The latter reflects growth confidence in the medium term, pushing up real Treasury yields (inflation-indexed bonds). Gold is inherently an anti-fiat asset and generally suffers when rates of […]

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* Stock rally as investors price gridlock in Washington

* Trump wins battlegrounds of Florida, Ohio and Texas

* FACTBOX-Who is winning the U.S. election?

* 2020 U.S. ELECTION: What you need to know right now* Graphic: Global markets since Trump’s election in 2016 tmsnrt.rs/3mLQXkZ (Recasts and updates prices)Nov 4 (Reuters) – Gold prices fell on Wednesday as bets that the Democrats will be unable to take control of the U.S. Senate in the razor-edge American election dashed hopes for a larger U.S. coronavirus stimulus.Spot gold fell 0.7% to $1,896.02 per ounce by 1:52 p.m. EST (1553 GMT). U.S. gold futures settled down 0.7% at $1,896.20.Prices fell more than 1% earlier in the session as the dollar emerged as the favoured safe haven, with President Donald Trump falsely claiming victory with millions of votes still uncounted in the tight presidential race.“It’s becoming quite expected that the senate is not going to shift […]

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(Reuters) – Gold rose on Friday as increasing coronavirus infections globally re-ignited concerns about the economic toll from the pandemic, while scepticism over the reach of a potential COVID-19 vaccine further boosted the safe-haven metal. FILE PHOTO: Gold bullion is displayed at GoldSilver Central’s office in Singapore June 19, 2017. REUTERS/Edgar Su Spot gold XAU= rose 0.5% to $1,884.76 per ounce by 1:57 p.m. EST (1857 GMT). But bullion was still bound for its worst weekly loss since late September, down 3.4% so far, mainly hurt by initial euphoria over an effective vaccine from Pfizer PFE.N earlier in the week.

U.S. gold futures GCv1 settled up 0.7% at $1,886.20.

“We have got COVID-19 raging in the U.S. and the uncertainty surrounding that and the potential for some more economic damage in the coming months; all that is working in favour of gold market bulls,” Kitco Metals senior analyst Jim Wyckoff said.

Pfizer […]

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Summary

Endeavour Mining released its Q3 results this week and reported quarterly gold production of 244,000 ounces, up 35% year over year.

However, gold production was down at most of the company’s primary operations, with the increase in gold production mostly tied to the addition of the new Semafo assets.

Fortunately, the company remains on track to meet its FY2020 guidance of 995,000 to 1.09 million ounces, given that Q4 should be a much stronger quarter.I continue to see Endeavour as attractive from a valuation basis, especially given its strong organic growth profile and recently announced new dividend.We’re more than three-quarters of the way through the Q3 Earnings Season for the Gold Miners Index ( GDX ), and Endeavour Mining ( OTCQX:EDVMF ) is the most recent name to report its results. On the surface, the company had a solid quarter with gold production up considerably year over year, but it was […]

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The gold futures contract gained 0.63% on Thursday, as it extended its short-term consolidation following Monday’s 5% sell-off. Gold sold off after global financial markets’ euphoria rally in reaction to Covid-19 vaccine news release. The yellow metal has retraced all of last week’s advance. It came back down to $1,850 price level , as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.5% higher this morning, as it is extending yesterday’s advance. What about the other precious metals? Silver gained 0.16% on Thursday and today it is 0.4% higher. Platinum gained 1.83% and today it is 1.1% higher. Palladium gained 1.08% yesterday and today it’s 0.4% higher. So precious metals are higher again this morning .

Yesterday’s U.S. CPI release has been flat at 0.0% vs. expected rise of 0.1%. The Unemployment Claims number has been slightly lower than expected at 709,000. Today we […]

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Generally, when we think of dividend stocks, we tend to lean toward the traditional dividend growers. Utility stocks, telecoms, and even bank stocks tend to come to mind at first glance. But what if I told you there was a sector where dividends were growing by high double to even triple digits over the last year? That sector, if you can believe it, is gold. Gold companies as income stocks

After several years of austerity and pain, the gold sector is in excellent shape. Companies are increasing payouts quickly as balance sheets are bulging with cash due to a number of reasons.

First of all, gold companies are earning gold at or near all-time highs. Income grew significantly this year even in the face of challenges set by the global pandemic. This is especially true for Canadian companies that also benefit from a low Canadian dollar as gold is […]

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Summary

The major gold miners reported outstanding Q3 results. Their collective gold production not only rebounded sharply from Q2’s lockdowns, but even grew from the comparable prior-year quarter.

That was better performance than global gold miners as a whole. Yet production costs did rise on ongoing COVID-19 mitigation measures and lower ore grades, eroding some potential earnings growth.

But with record-high average gold prices, the major gold miners’ profits still rocketed higher in both unit and bottom-line terms. Their collective earnings from normal operations have never been stronger.The major gold miners’ stocks have been grinding lower on balance for a few months now in a healthy correction. This necessary rebalancing is achieving its mission of dampening enthusiasm, paving the way for this contrarian sector’s next bullish push. Rebounding from governments’ COVID-19 lockdowns, the gold miners reported strong operating and financial results last quarter that fully justify more bull-market gains.The leading and dominant […]

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The price of 22 karat gold, which is used in jewellery, has fallen below 50,000 per 10 gms, which has encouraged consumers to buy. Kolkata: The recent softening of the gold price has supported demand for the metal during Dhanteras .

Sales picked up from 11 am on Friday and jewellers are expecting sales during the day to cross those of last year’s Dhanteras. Leading jewellery trade body India Bullion & Jewellers Association ( IBJA ) has indicated a 35% increase in volume terms over last year.

The price of 22 karat gold, which is used in jewellery, has fallen below 50,000 per 10 gms, which has encouraged consumers to buy. Jewellers are witnessing a lot of pent-up demand in the market after a hiatus of almost eight months when concerns over the pandemic had forced consumers to avoid non-essential purchases and conserve cash.

“Sales have picked up very well since […]

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Gold prices lost some of its blinks at last week’s trading session cumulatively. For the week, it lost 3.4%, its most for a week since late September.

What we know: New York -traded gold for December delivery settled up 0.7% at $1,886.20.

That said, its gain recorded in the last trading session, couldn’t prevent it from posting its worst weekly loss since September, triggered by early selling in the week after market hype that showed Pfizer’s COVID-19 Vaccine was, what the world was waiting for.

What this means: Investors’ of late have been trooping into riskier assets like global stocks on the bias that Pfizer’s COVID-19 vaccine would provide a lifeline to the world’s economy, triggering the precious metal to lose 4.5% at the early part of the week.Investors’ over-exuberance with progress reported by Pfizer on its Covid-19 vaccine trials triggered a massive rally in risk assets on Monday that […]

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The precious metals market plummeted on the positive vaccine news earlier this week. With an expected V-shaped recovery amplified by the effectiveness of the vaccine, investors shifted their focus from safe-haven assets to risky assets. Following this news, both gold and silver witnessed a sell-off.

However, even if the vaccine clears all the FDA tests for approval, widespread immunization is months away. Economic pain and high unemployment levels require government stimulus, which is long overdue. There are fading hopes for another fiscal stimulus package when the Fed is encouraging both inflation and stimulus.

The global economy continues to remain weak, short-term interest rates remain unchanged, and central banks are continuing with their loose monetary policy. The value of precious metals is inversely linked to the economy. Consequently, investors will soon turn to precious metals in protecting their investments, and hedge against inflation and economic uncertainty.

As ETFs provide a broad and diversified […]

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GOLD PRICES tried but struggled once again on Thursday to recover from this week’s $100 plunge, made after US pharma-giant Pfizer declared successful trials of a Covid-19 vaccine.

Gold priced in US Dollars rallied to $1877 per ounce as longer-term interest rates fell back from their spike and global stock markets also retreated after setting fresh all-time highs on Pfizer’s vaccine news .

Hungary meantime said today it will become the first European Union member to trial Russia’s ‘Sputnik V’ Covid vaccine , "the latest in a series of moves that analysts say prove Budapest is cosying up to Moscow," according to the Financial Times .

"The gold market like all others is built on expectations," said James Steel, chief precious metals analyst at London bullion market-maker and clearer HSBC, "so it needs to recalibrate because we’re not going to get that 15% of GDP fiscal stimulus" proposed by US Democrat Joe […]

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Father and son duo Fred and Dustin Hurt on ‘Gold Rush: White Water.’ A brand-new season of Gold Rush: White Water begins today, Friday, Nov. 13 at 9 pm ET/PT on Discovery Channel. Immediately following is a behind-the-scenes special, The Dirt, at 10 pm ET/PT. You can also watch both shows on FuboTV , Sling or Philo .

Gold prices have soared this year, and some lucky folks are taking advantage. The Dakota boys, father and son duo Fred and Dustin Hurt, will be back on the water to mine for gold in the hopes of cashing in big this season. But with a delayed start to the season and record snowfall creating dangerous mining conditions, it’ll be a challenge.

At 76, Fred knows that this might be his last Alaskan diving season, so he’s going to do everything in this power at the dive site, the Trifecta, and he’ll dredge […]

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