Golden Star Theaters, a family-owned movie theater chain based in New Castle, Pa., recently expanded to the Mahoning Valley with the opening of Golden Star Theaters Austintown Cinema. (Photo provided) [EDITOR’S NOTE — Each week, this feature section, “Movers and Makers,” will feature the stories of the movers, launchers, entrepreneurs and makers who contribute to the vitality of the Mahoning Valley. This section is supported by our first community partner, Farmers National Bank.]
AUSTINTOWN — Golden Star Theaters, a family-owned movie theater chain based in New Castle, Pa., recently expanded to the Mahoning Valley with the opening of Golden Star Theaters Austintown Cinema.
Golden Star Theaters Austintown Cinema, 6020 Mahoning Ave., was previously Regal Cinemas in the Austintown Plaza.
Joe Rethage, operations manager of Golden Star Theaters, told Mahoning Matters the building underwent a $2.5 million dollar overhaul which included:• Remodeling the front of the building with repairs to all neon […]
Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. In the midst of economic volatility, some investors are flocking to gold and silver as an alternative to stocks, bonds, mutual funds and ETFs. In fact, some precious metals dealers are struggling to keep up with demand for bars and coins, and buyers are paying record-setting prices for rare coins.
The Gold and Silver Rush of 2020 is in full swing.
But as investors (including some who are new to the precious metals market) scoop up gold and silver bars and coins, they might be wondering about insuring their newly acquired treasure. Perhaps the most important thing to know about insuring investment-grade gold and silver—not the coins you collected as a kid that merely hold sentimental value—is that homeowners insurance typically doesn’t go very far in […]
Billionaire investor Michael Novogratz. Bitcoin is a store of value, like "digital gold," and will unlikely be used as traditional currency for the next five years, the former Goldman Sachs partner and hedge fund manager Mike Novogratz told Bloomberg.
The Bitcoin bull expects the digital currency’s price to keep rising as more people pile into the idea of adding it to their portfolios.
He expects several banks and credit-card companies to catch up to PayPal’s recent decision to allow customers to transact in cryptocurrencies.
"It’s no longer a debate if crypto is a thing, if Bitcoin is an asset, if the blockchain is going to be part of the financial infrastructure," Novogratz said. "It’s not ‘if’, it’s ‘when’, and so every single company has to have a plan now." Bitcoin is like "digital gold" and won’t be used in the same way as traditional currency for at least the […]
For representational purposes. (Photo | EPS) CHENNAI: Indians are fascinated with gold, and during festive season, the love for the yellow metal takes centre stage for many.
The pandemic has also not acted as a deterrent against gold investors, and industry experts say that many jewelers have begun breaching their pre-Covid sales figures.
If you are also planning to buy gold during the festive season, experts say there are few things you should keep in mind.
Purity —It is always better to buy hallmarked and BIS certified jewellery which indicates the purity of gold. Gold that does not carry certification may not be a good deal. Making charges and other charges —Whenever you buy jewellery, you have to pay for making charges or wastage along with the gold. Making charges is usually a percentage of the current gold price. Hence, experts advise you to choose classic and simple pieces, since these […]
Gold Price Analysis: XAU/USD pressured to break below $1,900
XAU/USD is open to start the week lower by some 0.10% despite a slide in the greenback on Friday by 0.20%. The market is range bound and trendless with election and stimulus uncertainty whipsawing prices from day-to-day.
A second wave of the coronavirus gathering pace is also problematic for investor sentiment, although the recent news of an FDA approval for remdesivir gave a hint of positive news as do the prospects of the Johnson Johnson trials getting back on track.
Read more … Gold Weekly Forecast: XAU/USD (mostly) hinges on Trump´s electoral chances " Putting pen to paper " – such commentary from Washington about a fiscal stimulus deal has been pushing gold prices higher, while pessimism about a deal held it back. With time running out toward Election Day, the next bout of cash to fuel gold prices […]
The Gruyere site. Image: Gold Road Resources. Joint venture (JV) partners Gold Road Resources and Gold Fields are on track to meet their 2020 production guidance at the Gruyere mine in Western Australia despite downtime due to a ball mill failure.
The JV worked to re-configure the milling circuit as the plant transitioned to fresh rock processing, following a previous failure relating to a ball mill motor late in the quarter.
This occurred during a restart of the processing facility after a scheduled maintenance shutdown late in the quarter.
The failure meant Gruyere’s plant utilisation was below target, at 97 per cent, due to the additional downtime.Despite this, the JV processed 1.9 million tonnes of ore at a head grade of 1.03 grams per tonne of gold and a recovery of 91.5 per cent for 55,919 ounces of gold produced during the September quarter.Gold Road Resources anticipates a stronger quarter during December […]
Getty Images Gold prices ended with a loss on Friday to log their first weekly decline in three weeks, as overall strength in U.S. currency weighed on dollar-pegged metals.
Gold is down for the week “thanks to an appreciating U.S. dollar,” said Lukman Otunuga, senior research analyst at FXTM. Overall, “it has been another range-bound week for gold thanks to fluctuating expectations over the U.S. fiscal stimulus, rising coronavirus cases across the world and jitters ahead of the U.S. elections.”
“The precious metal is clearly waiting for a fresh directional catalyst to make the next major move either up or down,” he told MarketWatch.
December gold GOLD, -0.29% GCZ20, -0.23% rose $2.50, or 0.1%, to settle at $1906.40 an ounce after rising less than 0.1% on Thursday. Prices Thursday had touched an intraday low of $1,892.70, highlighting fitful trade for bullion on the week.“Should $1,890 prove to be reliable support, prices may […]
(Updates prices) * Silver up 1.5% this week * Dollar set to fall about 1% for the week * Interactive graphic tracking global spread of coronavirus: here By Asha Sistla Oct 23 (Reuters) – Gold eased on Friday as the dollar recouped some losses, but uncertainty going into the Nov. 3 U.S. elections limited bullion’s losses. Spot gold fell 0.1% to $1,903.07 per ounce by 2:06 p.m. EDT (1806 GMT). U.S. gold futures settled unchanged at $1,905.20. "Gold’s moves are really mirroring the dollar at this point," said Tai Wong, head of base and precious metals derivatives trading at BMO. Gold is in a "restive" $1,890-$1,930 range with any dips to the bottom being lapped up, he added. "The initial pop in gold (and slightly lower dollar) was due to the results of the last presidential debate not likely to make a difference in the election outcome, with (Democratic […]
Gold recover attempt was capped at $1,914 to test support at $1,895 again.
XAU/USD lost ground with the US dollar picking up.
Uncertainty about US stimulus has boosted risk aversion.
Gold’s upside attempt witnessed during the Asian and European trading sessions has been halted at $1,914 on the Early US session as market sentiment plunged and the precious metal has dropped to find support at $1,895. XAU/USD loses footing with the USD coming up Gold futures have dropped nearly $20 from session highs, with equity markets moving into negative territory after having opened with moderate gains. The Dow Jones Index is trading 0.6% lower with the Nasdaq 0.4% below the previous closing. Risk appetite has taken a hit during Friday’s North American session, as the investors grew increasingly anxious about the lack of progress in the US coronavirus stimulus negotiations. This has boosted demand for the […]
Gold Road Resources released its Q3 results last week with a disappointing quarter for quarterly gold production due to unplanned downtime related to a ball mill motor bearing failure.
Unfortunately, this has pared back FY2020 production guidance at Gruyere to 260,000 ounces at the mid-point from 268,000 ounces previously.
The good news is that the company continues to improve its balance sheet, ending the quarter with over $100 million in cash and no debt.I see this recent pullback as a low-risk buying opportunity, but I believe there are more attractive opportunities among the more growth-focused Australian producers.We’ve finally begun the Q3 Earnings Season for the Gold Miners Index ( GDX ), and one of the first companies to report its results is Gold Road Resources ( OTCPK:ELKMF ). While the mid-tier Australian gold producer started off the year strong and was tracking in line with guidance, Q3 was a tough quarter […]
Oct 26 (Reuters) – Gold prices eased to an over one-week low on Monday in early Asia trade as the dollar firmed and talks over the new U.S. coronavirus aid package showed no signs of progress. FUNDAMENTALS * Spot gold fell 0.1% to $1,899.41 per ounce by 0053 GMT, after hitting $1,890.19, its lowest since Oct. 15. * U.S. gold futures were down 0.2% at $1,900. * The dollar index was up 0.1% against a basket of currencies. * U.S. House Speaker Nancy Pelosi said on Sunday the Trump administration was reviewing the latest plan for more COVID-19 relief over the weekend and that she expected a response on Monday, adding that she was still optimistic a deal could be reached. * U.S. reported 79,852 new infections on Saturday, close to the previous day’s record of 84,244 new cases. Hospitalizations are also rising and have hit a two-month high […]
Adult chinchillas are pictured in France. (Getty images/slowmotiongli) (Newser) – An effort to pull 3.5 million ounces of gold from a site high in the mountains of northern Chile is expected to cost $860 million—$400,000 of which has already been spent on rodents. A colony of 25 endangered short-haired chinchillas has made a home at the site now under development by Gold Fields, as Ed Stoddard writes at Undark . To secure the deal, the South African-based gold mining company had to agree to trap and move the 25 animals previously hunted to near-extinction, which are protected under Chilean law. The project is seen as a test of how mining companies will respond to increasing pressure to limit environmental impacts, and it will be both pricey and time-consuming, stretching on for nine months from August. Some $400,000 has already been spent on non-lethal traps and population surveys. Then again, […]
The peak in gold prices at $2,067 coincided with the weakness in the dollar against the currency majors but there has been some revival, though not significant, in the exchange rates, in the last one month. The correction in the gold prices to $1,850 an ounce, too, was in alignment with the currency strength. It seems gold has taken support at the $1,850/1,860 levels after its downward movement.
Interest rates have been low and may continue to be so for some more time due to the slow economic growth and recovery due to the pandemic. Lower interest rates reduce the opportunity cost substantially and help gold prices to stay up. The inference that can be drawn from the Federal Reserve notes, as also those of other central banks, is that of a prolonged period of lower rates.
Apart from this, inflation, too, is showing a tendency to edge higher. The Fed […]
Manchester United’s form has been erratic on the pitch of late, and times are tough off the field too.
The Red Devils suffered a net loss of £23.2million in the year to June 30 as the pandemic sucker-punched ticket and broadcast revenues.
Man Utd shares, listed in the US, are down from almost $20 to $14.20 so far this year. Off form: Manchester United shares have slumped this year That’s bad news for Nick Train, manager of the Finsbury Growth & Income Trust, who holds the stock.
The floppy-haired funds star has seen the trust’s share price diminish by about 10 per cent this year, but tells me he’s sticking with Ole Gunnar Solskjaer’s men for the long haul.He says: ‘Perhaps contemplate the comparison between equity in Manchester United and gold. Both are rare and beautiful in the eyes of some. Both have eternal characteristics.’New gold cannot be created and no one […]
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(Kitco News) – Investors should not expect to see the gold market to get anywhere in a hurry as prices continue to consolidate around $1,900 in the near-term, according to the latest Kitco News Weekly Gold Survey.
The gold market continues to struggle for direction as sentiment among market analysts is decidedly mixed; meanwhile retail investors remain extremely bullish on gold next week; however, interest in the market remains at lows levels not seen since the start of the year.
Adrian Day, president and CEO of Adrian Asset Management, described the price action and sentiment in the gold market as two-steps forward, one step back. He added that this volatility will continue until after the Nov. 3 U.S. General Election."Some […]
Gold has been on a roll this year and every piece of bad news makes it look like a smarter investment.
That’s because gold comes into its own when times are hard – and they are particularly grim right now. Gold also does well when interest rates are low – and they are at record lows in most parts of the world today.
Buying gold outright or investing in Exchange Traded Funds offer direct exposure to the metal. But there is also the option of buying gold mining shares. Coining it: Chief executive Richard Gray in the mine which has already produced commemorative coins MIDAS UPDATE: There’s even more gold in them thar SCOTTISH hills!
Some investors may find gold alluring but would prefer to keep their cash close to home, supporting businesses and fostering employment on these shores. Scotgold is an intriguing option for anyone falling into this bracket.The company […]
JP Morgan says bitcoin’s 2020 surge is set to continue as the digital cryptocurrency competes better against gold as an alternative currency. In a note, the financial institution says that with millennials set to become a more important market participant in the coming years, their preference for bitcoin to gold sets up the crypto for future success.
The financial institution’s assessment comes as the digital currency continues to see increasing adoption by institutional investors and an embrace by corporations like payments giant Paypal.
According to a report , JP Morgan estimates the “physical gold market is worth $2.6 trillion, which includes assets held within gold ETFs.” The financial giant deduces that for bitcoin to catch up with gold market value, “the cryptocurrency would have to surge 10x from current levels.”
At the time of writing, the bitcoin market capitalization was at $242.2 billion while the value of one BTC was just […]
Gold markets have initially pulled back a bit during the trading session on Wednesday, only to turn around a break above the $1900 level. That being said, the market looks very likely to pay quite a bit of attention to the 50 day EMA which is flat and driving right through the middle of the recent trading action. With that being the case, the market is likely to continue to see a lot of interest in this area, and of course the US dollar is greatly influential on what happens in the gold market anyway. With the US dollar losing a little bit of a ground on the Wednesday session, that does drive gold up a bit. Gold Price Predictions Video 15.10.20
To the downside, I think that the $1850 level continues to be an area that will offer a bit of support, but I believe there is even […]
Fears of a vaccine pushing the gold price down are overplayed, said Lobo Tiggre of the Independent Speculator.
“I think this is another one of these overblown things. Yes, we have seen gold move on vaccine headlines, I don’t deny that, but it’s a mistake to think that 2020 gold is all about the vaccine,” Tiggre told Kitco News.
The most important fundamental drivers of gold are still tied to monetary and fiscal policies, Tiggre said.
“We have been on a volatile upward trend since late 2015, well before COVID. But even the more recent and dramatic upturn started after the Powell pivot. This is really about monetary and fiscal policy, starting, first and foremost with monetary policy. It’s about negative real rates,” he said.Even if a vaccine were to be introduced, it would still take time for the economy to normalize, Tiggre noted, and the fundamentals behind the gold price would […]
Gold prices on the rise as the U.S. dollar retreats Gold prices tallied a third straight gain on Wednesday, with prices for the precious metal marking their highest finish in over a month, as a rise in bond yields was overshadowed by weakness in the U.S. dollar.
Copper futures, meanwhile, logged another settlement at the highest since 2018 , buoyed by signs of strength in Chinese demand. On Wednesday, Reuters reported on the possibility that China will buy copper for its stockpiles ahead of a meeting of the nation’s leaders to discuss the next five-year economic plan.
Looking to gold, “concerns about a will-they, won’t they agree [to a U.S.] a stimulus deal is weighing on the U.S. dollar,” Ross Norman, chief executive officer of Metals Daily, told MarketWatch.
So “in short, gold is being seen as the go-to safe haven,” he said. “Gold has switched back to dollar watching and is […]
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( Kitco News ) – Gold and silver futures prices are moderately down in early U.S. trading Thursday, as both metals continue to trade in an inverse fashion with the daily movements of the U.S. dollar index , which is higher today on a corrective bounce after hitting a six-week low Wednesday. The safe-haven gold and silver bulls continue to be perplexed their metals can’t catch a bid when the U.S. stock indexes start to wobble a bit. December gold futures were last down $13.80 at $1,915.70 and December Comex silver was last down $0.326 at $24.91 an ounce.
Global stock markets were mixed overnight, with Asian shares mostly weaker and European shares mostly firmer. U.S. stock indexes […]
Ahmedabad: While stability in gold prices coupled with the auspicious muhurat of Dussehra are expected to infuse the much-needed optimism for gold demand, yellow metal sales are expected to take a major hit this festive season. Estimates by India Bullion and Jewellers’ Association (IBJA) suggest that gold sales are expected to decline at least by 50% against last year.
Gold price stood at Rs 52,800 per 10 gram on Saturday. Haresh Acharya, director, IBJA, said, “Gold sales will be at least half of that last year. However, it will be mostly driven by jewellery sales
“With the government announcing 100 persons permitted in wedding occasions, people are out to make purchases,” said Manoj Soni, an Ahmedabad-based jeweller.
“Pent-up demand will play a major role in driving jewellery purchases. Moreover, since it is a Sunday, people will come in to make purchases” said Jigar Soni, president, Jewellers’ […]
Earlier this week, Bitcoin ( BTC ) advocate and Real Vision CEO Raoul Pal said gold is breaking down against BTC. If the dominant cryptocurrency continues to gain momentum against BTC, it could strengthen its perception as a store of value.
In the past month, the price of Bitcoin gained 30.36% against the U.S. dollar, from $10,136 to $13,217. In the same period, gold has gained about 2.25%, from $1,863 to $1,903. Gold slumps against Bitcoin. Source: Raoul Pal, Bloomberg Why is Bitcoin outperforming gold and stocks?
In the past two weeks, while the price of Bitcoin rallied strongly, both gold and the U.S. stock market steadily recovered.
The confluence of three major factors likely contributed to the upsurge of Bitcoin since early October.First, PayPal’s crypto integration announcement buoyed market sentiment. Second, the institutional demand for BTC has continuously increased following Square, MicroStrategy, and Stone Ridge’s investment. Third, Bitcoin’s favorable high […]
A gold bar is wrapped in a financial newspaper.
GSO Images | Getty Images
Gold retreated 1% to near $1,900 an ounce on Thursday on better-than-expected U.S. jobs data, with appeal of the metal further weighed down by a stronger dollar and doubts over a U.S. stimulus package before the presidential elections.
Spot gold fell 1.1% to $1,903.06 per ounce, and U.S. gold futures slipped 1.3% to $1,905.20.“The jobless claims number, which is much better than expected,” was pressuring gold, said Edward Moya, senior market analyst at OANDA, adding that “an improving number kind of takes away some of the urgency for getting a stimulus deal done now.”Data showed initial claims for state unemployment benefits in the U.S. dropped 55,000 to a seasonally adjusted 787,000 last week, although the overall number was still relatively high.A Reuters survey had forecast 860,000 claims in the latest week.The dollar , meanwhile, bounced back from a […]
(Reuters) – Freeport McMoRan Inc FCX.N beat analysts’ estimates for third-quarter profit on Thursday, as the miner benefited from higher gold prices due to the COVID-19 pandemic and cost cuts.
The Phoenix, Arizona-based company announced a major cost-cutting drive in April and has also lowered its capital expenditure.
Total costs and expenses fell about 7% to $2.97 billion in the third quarter ended Sept. 30.
The average price that Freeport received for its gold surged nearly 28% to 1,902 per ounce in the third quarter, with copper and gold sales nearly 7% higher than the company’s July estimates.Gold prices have surged this year as investors flocked to safe-haven investments due to the uncertainty fueled by the pandemic.Freeport said on Thursday plans to transition the giant Grasberg copper and gold project in Indonesia to underground operations from open pit mining were on schedule.The company reported net income attributable to shareholders of $329 million, […]