Category: Gold

Told you once, told you 98% of the time…

ROLL BACK to Tuesday, 4th May 1999, says Adrian Ash at BullionVault.

The US stock market has risen 10-fold over the previous 2 decades…

…and stocks now keep setting fresh all-time highs as the "information super highway" sees investors large and small bet big on anything with "dot com" in its name or prospectus.Gold in contrast is flirting with fresh 2-decade lows, losing two-thirds of its US Dollar value from the inflation-crisis top at $850 per ounce of January 1980.So asks the headline on columnist Floyd Norris’ view of the metal as central banks across the world sell off ever-more of their bullion reserves."The process of removing the glitter from gold has been a gradual but inexorable one," Norris writes."Gold’s reputation as a store of value has eroded…Much of the world is now quite happy to accept the idea that […]

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Gold bullion on a chart The gold price has shone in the pandemic, and trades 27% higher than a year ago. Yet I’d be wary of investing in the precious metal today. After hitting an all-time high of around $2,084 an ounce in August, gold has slipped to around $1,900. If we get a working Covid-19 vaccine and find a way out of the current malaise, it could fall further.

There’s another reason why I’m wary. There are no dividends or interest when you buy gold. By contrast, the FTSE 100 and FTSE 250 are full of stocks that pay dividends, even if many have suspended payouts this year. The following two shares give exposure to the gold price too.

Gold and dividends? That’s what can be achieved investing in gold mining stocks, but with an extra layer of risk. It not only brings exposure to gold price movements, but the […]

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Including 15 Metres of 2.26 g/t Gold and 16.6 g/t Silver (2.48 Au-eq) from 21 Metres

Vancouver, British Columbia–(Newsfile Corp. – October 26, 2020) – Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the" Company "or" Chakana "), is pleased to provide drill results from four additional holes completed at the Paloma East target at the expanded Soledad Project in Ancash, Peru. These results are part of the Phase 3 drill program, a fully funded 15,000 metre drill program that started August 15, 2020. Phase 3 is testing a tight cluster of high-grade, gold-enriched tourmaline breccia pipe targets within the high-priority Paloma area and will then continue onto the Huancarama breccia complex (Fig. 1). Drilling is currently underway at Paloma West where eleven holes have been completed thus far.

Significant mineralized intervals from these four holes at Paloma East include: DDH # Az Dip From –
To (m) Core […]

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Gold in wait-and-see mode ahead of US election; bears eye 1,900 [Video]

Gold completed another indecisive week , maintaining a horizontal trajectory within the 1,848-1,930 area as the final countdown to the US election nears an end, the stimulus confusion remains intact, and vaccine hopes rise. Gold sellers are dominating

Gold sellers are dominating. Last 3 months selling on rallies was dominant strategy for positional intraday traders. Occasional longs are possible only with the strict timeframes such as 15m.

W H4 and 78.6 are making a confuence close to the previous top. 1919-1922 is the POC zone where we might expect sellers to react. If the market gets higher above 1934 then sellers will be in trouble. I expect rejections off 1911-13 zone and 1919-22 zone. Targets are 1892 and 1882. Read More… Have you noticed gold rises in a risk on market? This short article is to point out […]

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A total of 85 core holes (approximately 23,400 meters) were drilled as part of the 2020 Drill Program. Barrick Gold Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX , NYSE American: NG), is pleased to announce the successful completion of its 2020 85 – hole drilling program totaling approximately 23,400 meters . The holes were drilled in both the ACMA and Lewis deposit areas of the Donlin Gold project. Assay results for the first 25 holes (representing 30% of the length drilled) have been received to date, of which nine were previously released to the market on August 6.

Assay results show higher grades over thinner intervals compared to those predicted by previous modelling, particularly in sedimentary rocks.

The Donlin Gold team is wrapping-up site activities with the drill core being logged, cut, sampled, and shipped to assay laboratories. Site activities are now completed.

[…]

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( Kitco News ) – Gold has rebounded leading into the US open but there are some key resistance levels the yellow metal has to take out before looking bullish again. Leading into the last week before the US election it is understandable things are slightly sideways. Gold has been oscillating around the $1900 per ounce market for a few sessions and today has been no different. Leading into the EU session the price of gold was weaker as there was a few bearish news stories from over the weekend to digest. Now the futures price has recovered and gold is trading just above flat. The bulls need to take out the $1916 resistance to have a […]

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( Kitco News ) – Gold futures prices are a bit lower in early U.S. trading Monday. The precious metals continue to trade in an inverse fashion with the daily movements of the U.S. dollar index, which is higher today. Losses in the yellow metal are limited to start the trading week, as U.S. and global stock markets see some selling pressure. December gold futures were last down $0.90 at $1,904.30 and December Comex silver was last down $0.365 at $24.31 an ounce.

Global stock markets were mostly down overnight. U.S. stock indexes are set to open the New York day session lower. Trader and investor attitudes are more downbeat to start the trading week, as the Covid-19 […]

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An employee shows two bars of gold produced by state-owned diversified mining company PT Aneka Tambang (Antam). (kompas.com/Garry Andrew Lotulung) State-owned miner PT Aneka Tambang (Antam) has set its sights on acquiring the lucrative Wabu Block gold mine in Papua to replenish the company’s dwindling gold reserves.

Antam is already drafting a work plan for the gold-rich block in Intan Jaya regency, as the miner waits for its parent company, state-owned mining holding MIND ID, to hand over the block, according to the company.

MIND ID’s president director had previously confirmed the handover plan on Sept 29. The holding company estimates the block to contain 8.6 million ounces of gold resources.

“This will, of course, be a new hope for Antam,” Antam corporate secretary Kunto Hendrapawoko told The Jakarta Post on FridayAntam’s takeover of the Wabu Block is expected to further consolidate the company’s gold business, which contributes over 60 percent of […]

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LONDON, Oct. 26, 2020 /PRNewswire/ — Australia’s first New South Wales Gold Rush took place over 120 years ago. Back then, prospectors wielded nothing more than pickaxes. Now, a second Gold Rush is on, with a mad rush to this territory with gold explorers wielding the latest technology. Mentioned in today’s commentary includes: IAMGOLD Corporation (NYSE: IAG ), Newmont Corporation (NYSE: NEM ), Yamana Gold Inc. (NYSE: AUY ), Pan American Silver Corp. (NASDAQ: PAAS ), Kinross Gold Corporation (NYSE: KGC ).

Huge mining names have now gathered. And a sea of junior explorers is attempting to storm the venue. But one stands out: Sentinel Resources Corp . ( SNL ; SNLRF ) . It has 8 massive gold projects covering nearly 95,000 hectares which contains nearly 200 historic, high-grade Gold-Rush-era mines and showings.

Sentinel Resources Corp. is already up over 3X (and rising) likely because it’s sitting on an incredibly […]

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A one kilo Swiss gold bar and US dollars gold coins are pictured in Paris on February 20, 2020.

JOEL SAGET| AFP via Getty Images

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. […]

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Gold prices have fallen off their highs, cooling down as fiscal stimulus talks have yet to reach the final line. While both Republicans and Democrats are reporting progress, time is running out toward the elections and it is unclear if lawmakers would opt to pass legislation during the "lame duck" period.

The precious metal was rising on hopes for a multi-trillion dollar injection of funds from the federal government. Moreover, the market mood dampened after US security authorities said that Iran and Russia obtained voter registration files and are threatening people ahead of Election Day. Concerns about foreign interference may contribute to a contested election and no new stimulus.

How is XAU/USD positioned after these developments?

The Technical Confluences Indicator is showing that gold has robust support at $ 1,909 , which is the convergence of the Simple Moving Average 200-1h and the SAM 5-one-day.Below this critical line, an additional cushion awaits […]

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Gold futures finished marginally lower and consolidated in a tight range for a third week with investors held hostage by the lack of movement toward a fresh government fiscal stimulus plan. The price action was choppy with gold rising along with hopes for a deal falling when those hopes were dashed.

It wasn’t the actual stimulus headlines that drove the price action, but what they did to the U.S. Dollar. When stimulus was on the dollar weakened, driving up foreign demand for the dollar-denominated commodity. When both sides nearly walked away from negotiations, the greenback rose, pressuring gold prices.

Last week, December Comex gold settled at $1905.20, down $1.20 or -0.6%.

Gold is viewed as a hedge against inflation and currency debasement spurred by stimulus measures. Stimulus Update It doesn’t make sense to retrace the stimulus headlines from last week. All one has to know is that they changed nearly every day […]

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Photo by Rocky Widner/NBAE via Getty Images It’s been well over seven months since the Golden State Warriors last played a game. And while we don’t yet know when they’ll play again, we suddenly have a tentative date.

Shams Charania of The Athletic and Stadium recently reported that the league is targeting Dec. 22 as the season opener, which is a very quick turnaround. It seems to be for a wide range of reasons: the ability to return to a normal schedule for 2021-22; the possibility of players still competing in the Olympics; and, of course, money. The NBA is targeting Dec. 22 for the start of the 2020-21 season and a 72-game campaign that finishes before the ‘21 Olympics, sources tell @TheAthleticNBA @Stadium . — Shams Charania (@ShamsCharania) October 23, 2020 NBA and NBPA have been in conversations about the Dec. 22 proposal. It’s been important for teams and […]

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Central banks shifted to net sellers of gold during the September quarter for the first time in nearly a decade Gold And Silver > Gold-and-silver-news

Staff Reporter

Central banks shifted to net selling during the period for the first time in nearly a decade.

Net sales were estimated at just under 13t.An absence of purchases from Russia and China drove the shift, along with increased gross sales by some countries battling the economic effects of COVID-19.Refinitiv’s analysis suggests banks are taking advantage of high gold prices."It is in the near term that we are likely to see increased volatility, choppy trading and fluctuations in the stock markets and the gold price, particularly in the run-up to US presidential elections," said precious metals director Cameron Alexander."While we may see gold consolidating or caught up in a broader sell-off in the short term, gold should benefit from growing risks revolving around […]

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Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Sign up here to get the day’s top stories delivered straight to your inbox. As time passes, especially in 2020, a lot changes. But one thing that hasn’t changed much is the value of gold.

Perhaps best known for its use in bars, coins, and jewelry, gold is immune to rust, decay, and corrosion. But these physical aspects are not what makes the metal so special. (Consider that silver also shares some of gold’s valuable qualities, but doesn’t hold nearly as much value.)

Let’s take a deeper look at how gold holds value, and why it’s seemingly immune to nearly any financial crisis. The Rich History of Gold

In order to understand why today’s gold retains high value, we’ll need to take a look back […]

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News of the discovery of approximately 40 million troy ounces of gold in Russia’s Siberian region is likely to boost the profitability of the country’s biggest gold producer, while adding to the supply of the “scarce” resource. Reports say the Polyus owned the Sukhoi Log contains 540 million tonnes of ore, which translates to an average of 2.3 grams per ton. The reserves, which will account for a quarter of Russia’s gold stocks, are likely to generate $76 billion in revenues for Polyus when using current prices. How Bitcoin Compares to Gold

Although the Sukhoi Log announcement adds to the proven reserves and stocks of gold, it is unclear how this will affect the metal’s price in the immediate to short term. However, gold which has traditionally been used as a hedge against inflation is likely to grow in value as the money supply increases. The precious metal behavior […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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