gold stocks

Gold Prices Flat Ahead of Fed Minutes, Gold Stocks to Watch

Gold pricesGold is trading slightly negative this morning at $1,676 as investors pause ahead of the release of Fed minutes. Loose monetary policy helped gold shoot up to record highs last year, but better than expected economic data in recent months has another round of QE looking less likely.

The Fed minutes will give insights into the Fed’s March meeting and if the Fed is considering any additional steps to help grow the economy. As long as the U.S. economy continues to show signs of improving, the Fed is likely stay on the sidelines. However, many analysts believe if data was to worsen, the Fed would be quick to act in order to keep the recovery on track.

Over the past five days, gold prices have dropped as low as $1,650 and as high as $1,680. [Read more...]

Gold Prices Soft on Demand Worries, Gold Stocks Update

Gold pricesGold is starting off the quarter drifting. Demand concerns out of India and Turkey are weighing on investors. The Fed speech last week helped prop up the price, but the unknown factor of when is weighing on the market.

The tempering of near-term demand is not being picked up by investor demand so it is keeping the metal rangebound. If QE3 gets announced later this month then the rally will be back on. But if the macro data keeps the perception of a recovery then one wonders if the Fed will indeed pull the trigger.

Gold prices are currently up just under $4 to 1,675.80. [Read more...]

Gold Prices Rebound on Euro News. Gold Stocks Update

Gold pricesGold prices are staging a rebound today as global growth concerns are finally giving a boost to the metal. Though it is still rangebound, the likelihood of QE3 increased this week and it could just be a matter of time before the metal breaks above the psychological $1700 level again.

Of course if macro data starts to improve again, the Fed could delay action, setting the metal back even further. This seems to be less likely as the EU still does not have a handle on the sovereign debt crisis. Plus you had the Greek PM today not ruling out the need for a third bailout. Guess the country insists on making this one drawn out saga with no real end in sight. [Read more...]

Gold Prices Soft On Demand and Taxation Fears, Gold Stocks to Watch

Gold pricesIt has been hard out there for a Gold bull in recent weeks. The metal has been getting hammered on all fronts as concerns are being raised on all fronts. Have gold prices in a sense become a bubble? What if the economy continues to sputter along just well enough not to demand another round of monetary easing or other Fed action?

Those that see gold as the salvation for what they deem ‘central planning run amok’ will always say buy the dip. They have been long a long time and their entire investment thesis is based off fiat currencies will die off and hard-backed currencies will return. Rightly or wrongly, they will buy and hold till the end of time so to speak.

It is the trader that looks at the metal as more of speculative play that is beginning to crack. Over the past few days you India start to ramp up taxes on gold imports. Government always finds a way to increase revenue on the back of commodities that the populace really wants. Now imagine if China does the same. What effect would that have on demand? It would almost assuredly plummet as speculators in that country would move on to something else they can sell to the masses with better margins.

Which scenario plays out over the coming months will be interesting. Will the data points that have bolstered the recovery slow or reverse enough to warrant QE 3? Or will demand soften on a continued recovery and emerging taxes on gold imports? [Read more...]

Gold Prices Flat as Market Trades Higher, Gold Stocks to Watch

Gold pricesGold is trading flat today and is up only $4 at $1,647.50/oz. Gold prices have taken a hit in recent days as investors’ optimism has grown as the outlook for the U.S. economy looks better. The recent jump in the dollar had also negatively affected gold.

Stocks are up some in midday trading a few days after the Dow saw a more than 200 point jump. Investors seemed to have little reaction to positive weekly jobless claims that came out earlier today. Jobless claims fell to a four year low with 351,000 initial claims for state unemployment benefits.

Gold investors have been waiting for the Fed to confirm another round of quantitative easing. But the Fed has given no indication that another round is coming or even needed. Until another round of QE or a significant downturn in the market, gold will likely continue to trade in its current range. [Read more...]

Gold Prices Wither in Fed’s Wake, Gold Stocks to Watch

Gold pricesGold price bulls have not had a good couple of days. The metal was hammered after the release of the Fed statement the other day. With the prospect of QE3 dim in the near future, gold prices were sent plumbing the depths to an 8-week low.

The dollar strengthened on the news, as the Fed indicated the economy is growing a moderate pace. Platinum has also surpassed gold in price for the first time a in a good while. Silver was also not spared the bloodbath, down over 4% on the day.

Analysts who have parsed the Fed statement, say there are increasing signs of an optimistic tone. Gold bulls have pegged the continued rally on the resumption of some form of QE 3. Could be the metal is in for a correction until the point comes when the central banks have to unwind the stimulus they have used to prop up both the financial sector and the markets. [Read more...]

Gold Trading Flat, A Quick Look at Gold Stocks

Gold pricesGold is trading pretty much flat today as stocks rally close to or over 1% in today. Gold is currently trading down slightly at $1,695.50. Stocks are rallying today as the U.S. economy shows more signs of improving. The retail sales report came out today and showed retail sales jumped 1.1% marking the biggest gain in five months. It seems consumers bought motor vehicles and other goods despite the rise in gas prices.

Gold is performing more like commodities lately as the price of oil is also falling. It’s hard to be a safe haven investment when the market is currently bullish. If the market was to turn bearish, gold may return back to its old form as investors look to sell stocks and put their money somewhere safe i.e. gold. [Read more...]

Gold Below $1,700, Gold Stocks to Watch

Gold pricesGold prices moved below $1,700 this morning as the entire market looks weak today. Gold is off some today as the dollar is showing some strength today. Gold investors will have their eyes on a Fed meeting later this week where they will discuss monetary policy.

Investors are in a holding pattern today as no news is driving the market one way or another. The market is being held down slightly due to China’s trade balance. Gold prices may rise more, but gold traders will have to wait for the market to have a significant downturn. Gold would then become a flight to safety investment like it was late last year and during 2008. [Read more...]

Gold Price Sends Gold Stocks Lower

Gold pricesA market wide sell off is affecting the price of gold today. Investors’ worries grew today as a deadline between debt holders and Greece is quickly approaching. Representatives for Greek bond holders have said that a Greek default could cause more than $1.3 trillion in damage to the region. The deadline for accepting a bond swap is Thursday night and will cause creditors to lose 75% of the value of their bonds.

Stocks are down across the board today with the Dow down 195 points, the Nasdaq has slipped 43 points and the S&P 500 is down 21 points.

Gold prices are also taking a hit today. Gold for April delivery is trading down $36.00 right now at $1,667.90. Gold stocks in turn are also trading negative today. Gold prices have fallen steadily since Ben Bernanke gave no indication of additional monetary easing when speaking to members of Congress last week. [Read more...]

Gold Stocks and Gold Prices for March 5: KGC, AUY, ABX, GLD, GG, IAG

Gold pricesGold prices are slightly lower this afternoon as pretty much everything in the stock market is selling off a little bit. Gold is currently trading down nearly $5 at $1,705 per oz and is down nearly $90 since last Wednesday. Investors were disappointed last week after Ben Bernanke made no mention of further monetary easing when speaking to Congress. Gold’s sell off today could be attributed to a lack of a rally off of positive U.S. economic data as investors instead focus on poor economic data in China and Europe.

Let’s take a look how gold stocks are reacting to today’s gold price action.

Kinross Gold Corporation (NYSE:KGC) is down 2.72% this afternoon at $10.62. KGC has traded a touch over 6 million shares so far today and trades 8.6 million shares a day on average. KGC shares have dipped nearly $1 a share in the past five trading days. The company has a market cap of 12.11 billion. [Read more...]

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