Category: Gold

Easy come, easy go. The yellow metal rallied on Friday just to plunge on Tuesday. What’s your next move, Mr. Gold? Ugh, the recent rally in gold prices was really short-lived. As the chart below shows, the price of gold increased after the publication of disappointing nonfarm payrolls on Friday. However, it declined as soon as on Tuesday, and on Wednesday it slid below $1800. I have to admit that I expected a more bullish performance. To be clear: I was far from opening champagne. For instance, I pointed out that the tapering of quantitative easing remained on the… Read More Here

Gold extended its losses on Tuesday and is on course for its biggest intraday drop in nearly a month, as a buoyant dollar and higher yield took the shine off the safe-haven metal. Spot gold fell 1.6% to $1,794.17 per ounce by 11:10 a.m. EDT. US gold futures were down 1.9%, trading at $1,799.10 per ounce in New York. In the meantime, the US dollar rose 0.5% against its rivals, making bullion more expensive for holders of other currencies. “The gold market is seeing some retracement” with the dollar likely… Read More Here

During the worst pandemic in over a century, many companies are trying to stay above water and many would appreciate steady year-over-year revenue, let alone sales growth. The context of the pandemic makes Equinox Gold Corp.’s (TSX:EQX) mind-boggling 96,081.2% revenue growth over five years even more amazing. Equinox Gold recorded the largest revenue growth on BIV’s top 100 fastest-growing list since 2013 and posted greater growth than all the first-place companies combined in the intervening years. “We had this vision of creating a top 10 or 15 gold mining company… Read More Here

Gold prices traded within in a tight range on Wednesday as investors held off from making large bets as they prepared for key US jobs data that could influence the Federal Reserve’s stimulus tapering strategy. Spot gold slipped 0.2% to $1,811.18 per ounce by 11:15 a.m. EDT, holding above the key $1,800 level. The most active gold futures contract fell 0.4% to $1,811.00 per ounce in New York. Meanwhile, the dollar index edged up from a one-month low, making bullion more expensive for holders of other currencies. The US non-farm… Read More Here

Gold climbed higher on Friday as Federal Reserve chairman Jerome Powell stopped short of signaling when the central bank would dial back its economic support, while reiterating his view that the current price spikes are transitory. Spot gold rose 1.1% to $1,811.51 per ounce by 11:50 a.m. EDT, breaking past the $1,800 level for the second time this week. US gold futures were up 0.9%, trading at $1,811.60 per ounce in New York. In a virtual speech at the Jackson Hole symposium earlier, Powell stated that the central bank could begin reducing… Read More Here

Gold prices retreated below $1,800 on Wednesday as the US dollar halted its slide, while investors sought cues on the timeline of monetary tapering from the US Federal Reserve’s symposium later this week. Spot gold declined 0.9% to $1,786.96 per ounce by 11:45 a.m. EDT. US gold futures were down 1.1% at $1,788.90 per ounce in New York. Earlier this week, gold surged to its highest in nearly three weeks, driven by a broad retreat in the dollar. “We’re seeing a slight recovery in the dollar and also some investors taking out… Read More Here

Gold prices rose above $1,800 per ounce on Monday after the US dollar retreated from multi-month highs, while investor concerns that the Delta coronavirus variant could dampen the pace of global economic recovery also lifted bullion’s safe-haven appeal. Spot gold rose 0.5% to $1,801.63 per ounce by 11:30 a.m. EDT, the highest in over two weeks. US gold futures jumped 1.2%, trading at $1,805.30 per ounce in New York. Meanwhile, the dollar index was down 0.4%, easing off the 9-1/2-month high hit last week, bolstering gold’s allure for holders of… Read More Here