Gold gets hammered as coronavirus vaccine talk brightens Gold futures on Monday were on pace for their steepest daily drop in three months, as a positive report on a vaccine candidate sent the dollar and government bond yields higher, pressuring bullion.

Pfizer and BioNTech on Monday said their COVID-19 vaccine candidate was 90% effective at preventing COVID-19, derived from the novel strain of coronavirus.

“Interestingly, gold is getting whacked in the wake of the vaccine news. U.S. rates are rising on the back of the announcement and that’s bad news for the yellow metal which has fallen as low as $1,900, having traded above $1,950 ahead of the release,” wrote Craig Erlam, senior market analyst at Oanda in a Monday note.

“Investors now clearly betting on a stronger economic recovery and everything that comes with it,” the Oanda analysts wrote.December gold GCZ20, -3.66% GOLD, -1.53% was trading off 63.40, or 3.3%, […]

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( Kitco News ) – See on the daily bar chart for December Comex gold futures that Monday’s big losses have pushed the yellow metal back into the bottom portion of the recent sideways trading range – after prices hit a seven-week high overnight. Importantly, no significant chart damage has been inflicted on the daily or the longer-term charts. However, bulls need to defend strong technical support at the September low of $1,851.00. A drop below that price level would inflicted serious near-term chart damage to suggest a new leg down in prices.

Here’s a postulation for the gold market bulls to ponder: This vaccine news is short-term negative for gold, no doubt. However, could it be that […]

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Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! ( Kitco News ) – In what has been a wild morning, gold prices are down nearly $100 Monday but so far, holding critical support levels after Pfizer and BioNTech announced a potential vaccine for the COVID-19 virus.

However, some analysts are warning that the selling pressure appears to be overdone as there is plenty of uncertainty and liquidity in the marketplace to support the precious metal. December gold futures last traded at $1,855.60 an ounce, down 5% on the day.

Robin Bhar, an independent commodity analyst, said that while the latest headlines are negative for gold, there is still a lot of investors who don ’t know about the potential vaccine. He added that investors should wait for […]

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Map 1: Glenrock Property Compilation Map 2: Stone Gold: Glenrock and Coppercorp Properties TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) — Stone Gold Inc. ( TSX-V / STG ) (" Stone Gold " or the " Company ") is pleased to announce that the results from its fall 2020 surface rock and soil geochemical sampling program are available for the Glenrock Gold Property (“Property”) located 100 km north of Sault Ste. Marie, Ontario. The exploration program was undertaken in follow-up to the results of the surface sampling program reported in the Sept 10, 2020 News Release.

http://stonegold.ca/cr-capital-corp-announces-summer-glenrock-property-exploration-results

During the program, 28 surface rock geochem samples were obtained from outcrop and 30 soil geochem samples were collected over a GPS located grid covering the Glenrock West and Glenrock Northwest occurrences with the larger Glenrock Property area.

2020 Fall Program Results The results of the fall 2020 program further advance and […]

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Gold futures plunged more than 4% on Monday as news of the first successful late-stage COVID-19 vaccine trials encouraged investors to buy higher-yielding assets like the U.S. Dollar. This drove down demand for dollar-denominated gold. Earlier in the session, gold edged higher amid a weaker dollar and hopes for more stimulus following Joe Biden’s victory in the U.S. elections.

At 17:44 GMT, December Comex gold is trading $1861.00, down $90.70 or -4.77%. Demand for Higher-Risk Assets Surges

Equities jumped after Pfizer Inc said its experimental COVID-19 vaccine was more than 90% effective. Pfizer and German partner BioNTech SE said they expect to seek U.S. emergency use authorization later this month.

Along with the surge in stock prices, U.S. Treasury yields leaped on Monday following news from Pfizer. This made the U.S. Dollar a more attractive investment to the detriment of gold.The yield on the 10-year Treasury note jumped 13 basis points […]

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getty I’ve been getting a bunch of spam in my inbox recently telling me in panicked tones that the world as we know it is on the verge of ending and the only solution is to invest in gold. Touting its great returns, risk hedge capabilities and inflation protection for my portfolio, these missives implore me that if I want to preserve any semblance of wealth after the upcoming apocalypse, I must sell [ enter the asset class of your choice here ] and put that money to work in gold. Today. Now. Immediately.

Whenever the markets and world affairs are in turmoil—war, plague, political strife, social unrest—the gold-bugs emerge from their cocoons as predictably as cicadas do in the spring and making about as much noise. Maybe more.

It’s tempting. After all, who doesn’t seek some emotional stability and comfort during a crisis? For centuries, people have turned to gold […]

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Debuting today from the United States Mint are two new collectibles commemorating the 75th anniversary of the end of the second world war. Available beginning at Noon ET are the End of World War II 75th Anniversary 24-Karat Gold Coin and Silver Medal. U.S. Mint images of a 2020-W Proof $25 End of World War II 75th Anniversary 24-Karat Gold Coin. The West Point Mint-struck piece is in 1/2-ounce of .9999 fine gold. These two pieces, which are struck in a collector proof finish, follow the End of World War II American Eagle Coins which launched Nov. 5 . Both were hot ticket items selling out quickly, causing significant issues for most while ordering.

The latest anniversary products share designs and they have limited mintages — 7,500 for the 1/2-ounce $25 gold coins and 20,000 for the 1-ounce silver medal. As indicated in its name, the proof gold coin is […]

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Key Highlights EUR/USD started a strong rally above the 1.1750 and 1.1800 resistance levels.

GBP/USD surged above 1.3050, gold price climbed higher sharply towards $1,960.

The US nonfarm payrolls increased 638K in Oct 2020, more than the market forecast of 600K.

The Euro Area Sentix Investor Confidence could improve from -14 to -8.3 in Nov 2020. EUR/USD Technical Analysis The Euro formed a support base near 1.1600 before starting a fresh increase against the US Dollar. EUR/USD surged above 1.1800 and traded to a new two-month high. Looking at the 4-hours chart, the pair gained pace after it broke the 1.1750 resistance and a connecting bearish trend line. There was a proper close above the 1.1800 zone, the 100 simple moving average (red, 4-hours), and the 200 simple moving average (green, 4-hours).The pair even climbed above the 76.4% Fib retracement level of the downward move from the 1.1880 high […]

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NPV 5% of $305 million and IRR of 58% at $1,500/oz Gold
Initial 9.5-year Mine Life with 110,500 oz of Average Annual Production from 2022–2026

all dollar figures in US dollars, unless otherwise indicated

VANCOUVER, BC, Nov. 9, 2020 /PRNewswire/ – Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce Board of Directors approval to commence full construction of the Company’s 100% owned Santa Luz Gold Mine ("Santa Luz" or the "Project") located in Bahia State, Brazil, with an approved construction budget of $103 million. Using the base case $1,500/oz gold price, Santa Luz is expected to produce 903,000 ounces ("oz") of gold and generate $436 million in after-tax net cash flow over an initial 9.5-year mine life from 1.1 million oz of open-pit gold Mineral Reserves (a breakdown of Mineral Reserves and Mineral Resources is provided in tables below), […]

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all dollar figures in US dollars, unless otherwise indicated

VANCOUVER, BC, Nov. 9, 2020 /PRNewswire/ – Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to report its third quarter 2020 summary financial and operating results. The Company’s unaudited condensed consolidated interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2020 are available for download on SEDAR, on EDGAR and on the Company’s website.

The Company will host a conference call and webcast today commencing at 8:00 am PT (11:00 am ET) to discuss third quarter results and upcoming milestones. Further details are provided at the end of this news release.

"Equinox Gold again delivered record results with more than 128,000 ounces of gold sold, $98 million in earnings from mine operations and adjusted net income of $39 million," said Christian Milau, Chief Executive Officer. "Proactive […]

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A COVID-19 vaccine seems closer after Pfizer announced that its immunization candidate is 90% effective after its 43,500-strong Phase 3 trial. Hopes of a quick solution for the coronavirus pandemic is sending markets higher.

The implication for gold is that the chances of additional vast fiscal and monetary stimulus are diminishing. The US Congress was debating a relief package and the precious metal was moving in response to every twist and turn in the talks.

The levels to watch are $1,880, $1,860, $,850 on the downside, and $1,930, $1965, and $1,972 on the upside. The Relative Strength Index has been flirting with overbought conditions ahead of Pfizer’s announcement and is now falling toward 30, oversold conditions.

XAU/USD four-hour chart: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as […]

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TEHRAN- Jamal Razaghi, the head of Shiraz Chamber of Commerce, Industries, Mines, and Agriculture, has investigated the status of forex, gold coin, and stock exchange market in Iran during the past Iranian calendar week (ended on Friday). What follows is a glimpse of his investigation.

Gold coin and forex markets started last week with a downward trend, despite the fact that several other petrochemical companies were included in the sanctions list.

What the foreign currency exchange market players had predicted from the U.S. election process was the fall in the price of the dollar and the prolongation of sales queues, so that the price of the dollar reached nearly 270,000 rials on Saturday.

The price of gold coin, following the dollar on Saturday, decreased by 6,000 rials to less than 130 million rials (about $3,95).The atmosphere in the domestic financial markets is emotional due to the increase in uncertainties, and with the […]

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SmartFX, the retail commodity brokerage, has recently announced that it has launched specific contracts to hedge physical gold positions for bullion traders.

While the majority of retail FX brokers provide the opportunity to trade spot gold to their clients, SmartFX started offering the possibility of diversification of gold trading portfolio.

“From now clients are able to choose between 1 Kg Bars 995, 1 Kg bars 9999, TT Bars (10 Tola Bars), 1 Ounce bars, 32 Oz bars to hedge gold positions quoted in different weight units against the United States Dollar (USD)”, Mrs. Asha Rathore, Executive Director of SmartFX, commented.

Apart from the new gold instruments, there are more than 73 other trading instruments available for trading for SmartFX’s clients.“With new gold instruments on our Smart Account we are covering all our clients’ needs. But there are no limits to improvement and it is an ongoing process, which is why we continue […]

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* Spot gold may rise to $1,975/oz – technicals * Dollar hovers near a more than two-month low * Interactive graphic tracking global spread of coronavirus: tmsnrt.rs/3mvcUoa (Adds comments, updates prices) By Eileen Soreng Nov 9 (Reuters) – Gold rose on Monday as Joe Biden’s win in the U.S. presidential race weighed on the dollar and ignited hopes of more monetary stimulus measures to revive an economy battered by COVID-19. Spot gold rose 0.4% to $1,960.11 per ounce by 0817 GMT. Earlier in the session, it hit its highest since Sept. 16 at $1,965.33. U.S. gold futures gained 0.4% to $1,958.80. "Gold prices are moving up anticipating another stimulus (package) by the U.S. and once that comes, you could see another leg of this rally," said Kunal Shah, head of research at Nirmal Bang Commodities in Mumbai, India. "Considering the way currency debasement is taking place, further upside should […]

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Gold bulls are in charge at the start of the and a break of resistance opens bullish prospects.

The price is currently trapped below hourly resistance and above key support.

The price of gold has kicked off the week on the front and from an hourly perspective, but it is priming for a bullish opportunity above a key support structure.

However, there is work to do yet.The price started the day popping from a low of $1,951.19 tally up bids all the way to $1,959.90 before a significant set-back to $1,952.73.The price is currently holding at a critical support level.The price has reached a 61.8% Fibonacci retracement of the bullish impulse on the hourly chart , meeting support structure with the wicks to the 78.6% Fibo and subsequent rejection. However, while there has been deceleration since the sharp price drop, the highs offer too much rigidness from a […]

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Gold (XAU/USD) looks to extend its recent bullish momentum starting out a fresh week amid hopes of additional fiscal stimulus under US President-elect Joe Biden. Biden is a presumptive victor, as the legal challenges by the Trump campaign remain.

Markets also cheer the prospects of continuity of the current policy environment even on a divided government, with Republicans taking hold of the Senate. The upbeat market mood continues to dimmish the US dollar’s attractiveness as a safe-haven. However, the gains in the global stocks and rising coronavirus cases could likely limit the upside in the metal. Let’s see how gold is positioned on the charts. Gold: Key resistances and supports

The Technical Confluences Indicator shows that the yellow metal remains on track to test the critical resistance at $1965, which is the pivot point one-month R2.

Ahead of that level, the confluence of the previous day high and Bollinger Band one-hour […]

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While the long-term outlook is muted, several short-term factors hint that the current up move in gold will continue for some more time. Gold prices have jumped by 34% from the last Dhanteras day. Further, investors who have bought gold on every Dhanteras over the past five years have earned returns of 7.9%. Here’s why you should continue with the tradition despite the record high prices.

It’s that time of the year again. Diwali and Dhanteras are round the corner, and it is the time Indian households buy gold as it is considered auspicious. Historically, this gold buying tradition has rewarded them handsomely. For instance, investors who have bought gold on every Dhanteras over the past five years have earned returns of 7.9% (see chart). The 10-year and 15 -year returns stand at 10.7% and 11.9% respectively.However, most of the

Access the exclusive Economic Times stories, Editorial and Expert […]

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Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! ( Kitco News ) – The gold market is starting the week on solid footing with modest gains following last week’s nearly 4% rally.

December gold futures last traded at $1,955.40 an ounce, up 0.19% on the day.

Gold’s humble gains after the market’s Sunday evening open comes as Democratic nominee Joe Biden continues to secure his place as President-elect. Although some states haven’t released their official tally from last week’s election, Biden has secured enough votes to win the race to the White House, according to media reports.

Although Biden continues to solidify his place in history, garnering the most votes for any U.S. president, many political pundits said the next few weeks will be filled with uncertainty as […]

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