Gold futures continued to drift lower, continuing the sharp decline that traders witnessed on Monday of this week. Although yesterday gold was able to recover slightly gaining $18 off of Monday sharp selloff, today traders took gold pricing back to erase those advances made on Tuesday. As of 4:55 PM EST, the most active December contract is currently fixed at $1863.50 which is a net decline of $12.90 on the day. Considering that gold futures opened at $1956 on Monday, the cumulative damage over the last three days have been almost $100 decline per ounce. A combination of strong U.S. equities (risk-on) performance, dollar strength, and modestly higher bond yields have all dampened the bullish market sentiment in the precious metals. Ever since the first week of August when gold futures reached a new record high price at $2088, gold prices have been steadily forming a series of lower […]

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VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) — Candente Gold Corp. (TSXV:CDG) ("Candente Gold” and/or the “Company”) is pleased to advise that the previously announced (Nov 5 th , 2020) non-brokered private placement (the “Private Placement”) of 4,000,000 common shares (“Shares”) at a price of $0.05 per Share for a total of $200,000 has been fully subscribed.

Joanne Freeze, President and CEO, a control person of Candente Gold Corp., has subscribed for 53.75% of the Private Placement. In addition to Ms. Freeze there are three other subscribers. Closing of the Private Placement is expected to be completed within one week.

The Company intends to use the net proceeds of the Private Placement to advance development of its near term gold production and near surface exploration opportunities while advancing drill targets on the El Oro project, its flagship asset, and for general working capital purposes. The Shares issued pursuant to the […]

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Investor Webinar Thursday November 12 at 8:30AM EST

VANCOUVER, BC, Nov. 11, 2020 /PRNewswire/ – KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF ) (" KORE " or the " Company ") announces that drill hole FG-20-377 intercepted 31.3 meters of 3.2 g/t gold, including 14.3 meters of 6.4 g/t gold, starting at 369 meters downhole in the Lower Zone of the FG Gold Project (" Project " or " FG Gold ") in the Cariboo Region of British Columbia. This news release reports assays from drill hole FG-20-377, part of the 15-hole, 5,746 meter summer drill program at FG Gold with assays from 14 additional holes pending.

Highlights Figure 1 – Cross Section Showing Hole FG-20-369, FG-20-371, FG-20-376 and FG-20-377 (CNW Group/Kore Mining) Figure 2 – Long Section of FG Gold Main Zone Showing Lower Zone Intersections and Visible GoldFigure 2 – Long Section of FG Gold Main Zone […]

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( Kitco News ) – Gold futures prices are firmer in early U.S. trading Thursday. The precious metals are seeing some support from a weaker U.S. dollar index on this day and a pause in the global equity markets’ rallies, as traders and investors focus more on the present Covid-19 grim conditions. December gold futures were last up $7.50 at $1,869.10 and December Comex silver was last down $0.002 at $24.265 an ounce.

Global stock markets were mixed overnight, while U.S. stock indexes are also mixed ahead of the New York day session. The U.S. has seen over 240,000 deaths and more than 10.3 million confirmed Covid-19 infections, with new cases soaring to all-time highs of well over […]

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Figure 1

Haidee Target Area 2020 Drilling Program Haidee Target Area 2020 Drilling Program

TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) — Reviva l Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces results from an additional five drill holes along with partial results from a sixth drill hole from the Company’s 2020 drilling program on the past-producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.

Five of the six holes released today are infill core holes drilled in the Haidee target area at Beartrack-Arnett. The holes were drilled to confirm projections of resource blocks from the 2020 Mineral Resource estimate (see Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21 st , 2020) and to upgrade resources from the Inferred category to the Indicated category. All five holes intersected near-surface leachable mineralization and mineralized intervals […]

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Aurelia Metals has caught the gold M&A bug and is set to pitch a chunky acquisition and equity raising to investors.

It is understood Aurelia Metals is closing in on NSW-based Dargues Gold Mine and its nearby tenements, which are owned by shareholders and associates of underground mining services contractor PYBAR Mining Services. Aurelia Metals will make about 70 per cent of its earnings from gold should it acquire Dargues Gold Mine as expected. AFR Aurelia Metals is expected to pay $200 million for the mine and tenements, including $176 million cash and $24 million scrip, and fund the deal with an underwritten equity raising.

Investment bank UBS is understood to have started lining up support for the equity raising, which would be done by way of a placement and rights issue.

Aurelia Metals has secured a $65 million commitment from lending banks Investec and BNP Paribas, which would be partly used […]

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The Bellevue Gold Ltd (ASX: BGL) share price is out of form on Thursday and is sinking lower again.

At the time of writing the gold-focused mineral exploration company’s shares are down 6% to $1.32.

This latest decline means the Bellevue Gold share price is now down over 11% since hitting a record high of $1.49 on Monday. Why is the Bellevue Gold share price sinking lower?

Investors have been selling the company’s shares over the last few days after a meaningful pullback in the gold price.This has been driven by news of a potentially effective COVID-19 vaccine being developed by Pfizer, which has given risk sentiment a boost and put pressure on safe haven assets.The impact has been so great that it has overshadowed a positive update by the company this week in relation to its resource estimate at its Bellevue Gold Project in Western Australia.According to the release, the […]

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gold bullion bar Gold prices fell on Monday when news of the Pfizer-BioNTech coronavirus vaccine broke and investors turned their attention — and dollars — to the stock market, but the precious metal hasn’t lost its shine. As of late day Wednesday, gold was valued at $1,866 an ounce, not too far below its all-time highs north of $2,000 earlier this year.

Gold reached a record-smashing high of $2,080 an ounce in early August, spurred by central banks’ monetary easing, which created negative real yields, Citi economists told CNBC. Gold has a tendency to rise when the stock market is volatile, which was the case over the summer when the price of gold surged. Even with an invigorated stock market, some analysts think that gold will remain a hot commodity. Under the imminent Joe Biden presidency, Americans might be able to expect another round of COVID-19 relief stimulus payments , […]

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This photo shows gold bars stacked in rows.

Ktsdesign | Science Photo Library

Gold prices edged higher on Thursday, after dropping over 1% in the previous session, as concerns over the economic fallout from surging Covid-19 cases outweighed positive vaccine news.

Spot gold rose 0.3% to $1,869.51 per ounce by 0339 GMT.U.S. gold futures were 0.4% higher at $1,869.30.“Gold traders are trying to strike a balance between a positive vaccine news versus a rising number of coronavirus cases around the globe,” said Margaret Yang, a strategist with DailyFx, which covers currency, commodity and index trading.Although the vaccine may affect the medium- to long-term trend of gold prices, monetary and fiscal stimulus are needed in the near-term to shelter the global economy, Yang said. European Central Bank President Christine Lagarde signaled further support for the economy on Wednesday as the pandemic intensified in Europe, with cases expected to spike in winter.Gold tends […]

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Gold futures are drifting higher on Thursday with the move supported by a modest dip in the U.S. Dollar against a basket of major currencies. Falling Treasury yields and a drop in demand for equities are also underpinning gold prices.

Capping the market this week are concerns that a COVID-19 vaccine would open up the global economy faster than expected, dampening the need for aggressive fiscal and monetary stimulus.

Underpinning prices are worries that the vaccine would take months to distribute and become effective, which would be too late to avoid another economic downturn in the global economy. This would increase the need for more stimulus measures.

At 02:34 GMT, December Comex gold futures are trading $1867.40, up $5.80 or +0.31%.Daily December Comex Gold Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through $1848.00 will signal a resumption of the downtrend with […]

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( Kitco News ) – Despite this week’s price drop, gold has more room to the upside and will benefit in the aftermath of the U.S. election amid the COVID-19 uncertainty, said Orchid Research.

"Even though gold’s positioning is heavily long, we think that it has room to become even longer in the weeks ahead, judging by our dry powder level analysis," Orchid Research wrote in said in a Seeking Alpha post on Wednesday. "We think that the aftermath of the U.S. elections will continue to elicit heightened uncertainty, in a context in which additional stimulus measures are needed to fight the COVID-19."

The post-election scenario involves macro uncertainty, more stimulus, and rising coronavirus cases, all of which are supportive drivers for gold.

"This should drive the dollar lower (even though its positioning is already short) and U.S. real rates lower under downward pressure. As a result, we expect investment demand for […]

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( Kitco News ) – The gold market continues to hold critical support above $1,850 an ounce; however, according to one market analyst, it might be only a matter of time before this level gives out, and investors see lower gold prices.

In a telephone interview with Kitco News, Carley Garner, founder of the commodity brokerage firm DeCarley Trading said that there are a lot of mixed technical signals in gold and silver, but ultimately she is bearish the precious metals as too many investors are discounting the U.S. dollar strength.

"I believe that the U.S. dollar is bottoming so any rally in gold and silver should be sold," she said.

Garner said that the yield differential between the U.S. and other countries will continue to provide support for the U.S. dollar."The Federal Reserve is not expecting to raise interest rates anytime soon, but even at their current levels they are still […]

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(Bloomberg) — Gold declined, wiping out Tuesday’s gains, as the dollar strengthened and defensive shares pushed up equities in Europe.

Bullion rose on Tuesday, after slumping the most in three months the previous day as signs of a vaccine breakthrough hurt haven demand. Optimism over the vaccine that’s helping drive global stock markets higher led Goldman Sachs Group Inc. to boost its price targets for Europe’s main equities gauge and the S&P 500 Index.

A vaccination campaign could begin by spring, U.S. Health and Human Services Secretary Alex Azar said. Still, there are concerns that the pandemic is worsening in some countries. America reported a record number of infections Monday and may go on to hit the most hospitalizations yet later this week. The situation also looks dire in Europe amid rising fatalities in Germany.

“The biggest reason for another abrupt drop in gold prices would be more good news on the […]

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In the two-week short interest reporting period that ended October 30, the price of gold slipped by about 1.5%. For the year to date, gold futures have gained approximately 22%, after posting an all-time high at $2,089.20 in July. Shortly before noon Wednesday, the yellow metal traded at around $1,863 per ounce.

Short interest decreased on three of five gold-mining stocks and increased on two of three gold exchange-traded funds in the two-weeks ended October 30.

Newmont Corp. ( NYSE: NEM ) saw short interest fall by 187% to 8.0 million shares. That represents about 1.0% of the company’s float. Days to cover remained at two. In the two-week short interest period, the share price slipped by about 0.3%. Its 52-week range is $33.00 to $72.22, and shares traded at $63.55 on Wednesday.

Barrick Gold Corp. ( NYSE: GOLD ) short interest rose by 4% in the two weeks to the end […]

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Gold prices tumbled on Monday after the Pfizer-BioNTech coronavirus vaccine news sparked a broader market rally . Investors fled safe haven assets like gold, which had surged on worries about the pandemic.

But the price of the gold is still hovering just under $1,900 an ounce — not far from all-time highs above $2,000 earlier this year.

While gold has been volatile, it has benefited from many of the same trends that have lifted bitcoin as well as silver, platinum and other precious metals the past few months. And many analysts are confident gold will just keep on climbing.

The Federal Reserve is likely to keep rates low , even in a Joe Biden administration That will hurt the dollar and make alternative currencies more attractive. More stimulus would bolster the economy, and that could push gold even higher as many investors use it as an inflation hedge.“All of the reasons for […]

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The gold mining space has been buzzing with merger talks. Endeavour Mining is seeking to acquire smaller West African-focused miner Teranga Gold. Endeavour is 24.12% owned by Egypt’s Sawiris family and has been on the acquisition path this year as gold prices have rallied on the back of global stimulus to cushion economies from the fallout of the COVID-19 pandemic.

As a result of the solid run-up in the bullion price, shares of Teranga Gold have gained 87% this year as of Nov 9, giving the company a market capitalization of about C$2.2 billion ($1.7 billion). Endeavour is valued at about C$5.23 billion ($4 billion) in Toronto (see: all the Materials ETFs here).

The potential deal, if completed, would solidify Endeavour’s position as West Africa’s leading gold producer as it would add operating mine — Wahgnion — to its four existing mines in Burkina Faso, namely, Boungou (acquired from SEMAFO), Karma, […]

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The gold futures contract gained 1.19% on Tuesday, as it bounced after Monday’s 5% sell-off. Gold sold off following global financial markets’ euphoria rally after Covid-19 vaccine news release. The yellow metal has retraced all of its 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 0.4% lower this morning, as it continues to fluctuate following Monday’s drop. What about the other precious metals? Silver gained 3.21% on Tuesday and today it is 0.5% lower. Platinum gained 2.92% and today it is 0.8% lower. Palladium lost 1.11% on Tuesday and today it’s 0.1% lower. So precious metals are slightly lower this morning .

Yesterday’s German ZEW Economic Sentiment has been lower than expected. Today we won’t get any new important economic data releases. And the markets will wait for tomorrow’s U.S. CPI […]

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Gold (XAU/USD) is trying hard to extend its recovery from six-week lows of $1850, reached after the coronavirus vaccine optimism negated the immediate need for fiscal and monetary stimulus.

However, the continued escalation in the COVID-19 cases in Europe and the US has revived the calls for additional stimulus, in a bid to support the global economic recovery, which eventually underpins the sentiment around gold. With the US observing Veterans Day, thin trading conditions could exaggerate the moves in the bright metal. Gold: Key resistances and supports

Despite the upbeat momentum, the Technical Confluences Indicator shows that the yellow metal is struggling below the minor resistance at $1888, which is the Fibonacci 38.2% one-month.

The next critical resistance is aligned at $1891, the meeting point of the previous day high and pivot point one-day R1 at $1897 could likely challenge the bull’s commitment.Further up, the $1903 barrier is the level to […]

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Contrarians weren’t surprised by gold’s huge plunge on Monday of this week, when the yellow metal at one point was down more than $100 an ounce.

To be sure, it would be going too far to give contrarians credit for predicting the plunge. But it is true that contrarians have been largely bearish since July, when gold market optimism reached hardly-ever-before-seen levels. So to that extent contrarians have been suspecting that any big surprises in the gold arena would be on the downside.

Even after Monday’s big drop, contrarians continue to look for lower prices.

These are the conclusions I draw after analyzing the average recommended gold market exposure level among a set of short-term gold market timers who my firm has been monitoring on a daily basis since 2000. (This average is the Hulbert Gold Newsletter Sentiment Index, or HGNSI.) Currently, this average stands at 31.7%, which is higher than 55% […]

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