Category: Gold

Gold had a monumental 2020 as bullion soared to multiple record highs throughout the year amid the economic uncertainties brought by the covid-19 pandemic, which helped to cap off its best annual performance in a decade. During the past calendar year, gold prices traded at an average of $1,769.59/oz, well exceeding what most analysts were forecasting in mid-January. According to the London Bullion Market Association’s (LBMA) annual precious metals forecast competition, analysts were forecasting the gold price to be $1,558.8/oz on average, an increase of 12% from the average price in… Read More Here

Growing miner Equinox Gold beat its revised 2020 production guidance and churned out 477,200 gold ounces last year. With 136,400 oz. generated in the fourth quarter, the company exceeded its prior forecast of 425,000 to 465,000 oz. for the year. The 2020 production numbers include gold poured during the ramp-up and commissioning of the Castle Mountain open pit mine in California, which reached commercial production on Nov. 23. All-in sustaining costs are expected to fall within the guidance range of $975 to $1,025 per oz. “Equinox Gold had another year… Read More Here

Gold on Monday bounced off a six-week trough as a rally in equities stalled, though gains were capped by a stronger dollar and higher US Treasury yields. Spot gold was up 0.1% at $1 849.64 per ounce by 10:39 GMT, after touching its lowest since December 2 at $1 816.53. Gold last week recorded its biggest percentage fall since late November. US gold futures gained 0.8% to $1 849.70. “Some investors are taking a pause on other markets, and this is supportive for gold,” said ActivTrades chief analyst Carlo Alberto De… Read More Here

Gold prices declined from a near eight-week high on Wednesday as investors await the outcome of US Senate runoff elections in Georgia, which could affect the prospects for more fiscal stimulus, and thus for gold. Spot gold fell 2.2% to $1,905.30 per ounce by 11:50 a.m. EST, having gone as high as $1,958.90 per ounce earlier in the session. US gold futures were down 2.4% in New York. Meanwhile, the US dollar recovered from earlier losses, causing bullion’s new year rally to lose momentum. “We have seen a small bounce… Read More Here

Gold rose to an eight-week high aided by a weaker dollar and lower real rates, as investors awaited the outcome of elections in Georgia that will determine control of the Senate and President-elect Joe Biden’s agenda. Bullion could benefit if Democrats win the two seats in the runoff contest as it would mean an easier path to approving more fiscal stimulus, according to Credit Suisse Group analyst Fahad Tariq. Polls in the state closed amid record-breaking turnout, but there is a chance the winners will not be determined for days, or even weeks,… Read More Here