Precious Metals

Gold Prices Fall as Dollar Climbs

twocents@thestreet.com (Joe Deaux) — Fri, 17 May 2013 12:10 GMT

NEW YORK (TheStreet) -- Gold prices were dropping for a seventh-consecutive session as strength in the U.S. dollar added downward pressure on the yellow metal.

COMEX Gold for June delivery was falling $11.80 to $1,375.10 an ounce. The gold price traded as high as $1,391.30 and as low as $1,371 an ounce, while the spot price was off $6.60, according to Kitco's gold index.

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Gold Slumps for a Sixth-Straight Day

twocents@thestreet.com (Joe Deaux) — Thu, 16 May 2013 15:14 GMT

NEW YORK (TheStreet) -- Gold prices continued a downward spiral on Thursday after a break through key technical support on Wednesday carried more pressure on the yellow metal.

Gold for June delivery at the COMEX division of the CME was dropping $9.90 to $1,386.30 an ounce. The gold price traded as high as $1,397 and as low as $1,368 an ounce, while the spot price was slipping $3.30, according to Kitco's gold index.

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Gold Jewelry Demand Jumps in 1Q

twocents@thestreet.com (Joe Deaux) — Thu, 16 May 2013 11:00 GMT

Juan Carlos Artigas discusses a 12% jump in first-quarter jewelry demand as revealed by the World Gold Council's gold demand trends report.

Gold Falls for Fifth Straight Day

twocents@thestreet.com (Joe Deaux) — Wed, 15 May 2013 15:47 GMT

NEW YORK (TheStreet) -- Gold prices were sinking on Wednesday for a fifth consecutive session as the prospect of rising interest rates and the rally in U.S. equities drove investors from the yellow metal.

Gold for June delivery at the COMEX division of the CME was losing $13.20 to $1,411.30 an ounce. The gold price traded as high as $1,429.40 and as low as $1,404.60 an ounce, while the spot price was dropping $25.60, according to Kitco's gold index.

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Why You Should Buy Platinum

twocents@thestreet.com (Joe Deaux) — Wed, 15 May 2013 13:14 GMT

Rising platinum demand and lower supply could push prices higher in 2013, ETF Securities U.S.'s Will Rhind tells TheStreet's Joe Deaux

Junior Miners Reach for Risks

twocents@thestreet.com (Joe Deaux) — Tue, 14 May 2013 16:50 GMT

Junior miner Miranda Gold has acquired a new project amid a tough gold environment. CEO Ken Cunningham tells TheStreet's Joe Deaux why.

Gold Hovers at Flatline as Traders Prospect

twocents@thestreet.com (Joe Deaux) — Tue, 14 May 2013 15:41 GMT

NEW YORK (TheStreet) -- Gold prices were hovering near the flatline on Tuesday as traders of the yellow metal continued trying to figure out gold's near-term direction. Gold lost 0.16% on Monday.

Gold for June delivery at the COMEX division of the CME was adding $1.10 to $1,435.40 an ounce. The gold price traded as high as $1,444.90 and as low as $1,419.70 an ounce while the spot price was adding $5.20, according to Kitco's gold index.

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Gold Plummets After Breaking Below Support (Update 1)

twocents@thestreet.com (Joe Deaux) — Fri, 10 May 2013 18:31 GMT

Updated from 11:09 a.m. ET with settlement prices

NEW YORK (TheStreet) -- Gold prices plummeted on Friday as a breakthrough technical support triggered broad selling.

Gold for June delivery at the COMEX division of the CME dropped $32 to settle at $1,436.60 an ounce. The gold price traded as high as $1,461.20 and as low as $1,418.50 an ounce, while the spot price was slumping $22, according to Kitco's gold index. ...

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Gold Prices Fall on Mixed Central Bank Sentiment

twocents@thestreet.com (Joe Deaux) — Thu, 09 May 2013 17:21 GMT

NEW YORK (TheStreet) -- Gold prices were slipping on Thursday as dovish rhetoric from the European Central Bank was offset by a survey of economists that suggested the ECB will leave rates unchanged until the end of 2014.

Gold for June delivery at the COMEX division of the CME was off $7.60 to $1,466.10 an ounce. The gold price traded as high as $1,476 and as low as $1,458.80 an ounce, while the spot price was shedding $6.80, according to Kitco's gold index.

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Gold Rebounds as Traders Cover Shorts (Update 2)

twocents@thestreet.com (Joe Deaux) — Wed, 08 May 2013 20:53 GMT

Updated from 2:23 p.m. ET with added comment and miner closing prices

NEW YORK (TheStreet) -- Gold prices on Wednesday rebounded as traders covered short positions amid concerns that Syria's civil war could expand through the Middle East and as the dollar weakened.

Gold for June delivery at the COMEX division of the CME rose $24.90 to $1,473.70 an ounce. The gold price traded as high as $1,475.80 and as low as $1,446.70 an ounce, while the spot price was charging higher by $21.60, according to Kitco's gold index. ...

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Why Is Gold So Volatile?

twocents@thestreet.com (Joe Deaux) — Wed, 08 May 2013 13:24 GMT

Gold on Wednesday is retracing most of its prior day losses, and ETF Securities U.S.'s Will Rhind tells TheStreet's Joe Deaux why.

Gold Prices Sink on Profit-Taking (Update 1)

twocents@thestreet.com (Joe Deaux) — Tue, 07 May 2013 19:31 GMT

Updated from 10:29 a.m. ET with analyst comments, BullionVault's Gold Investor Index and settlement prices

NEW YORK (TheStreet) -- Gold prices dropped on Tuesday as traders preferred profit-taking on their positions and moving into equities, which were breaching all-time highs.

Gold for June delivery at the COMEX division of the CME fell $19.20 to settle at $1,448.80 an ounce. The gold price traded as high as $1,470 and as low as $1,440.40 an ounce, while the spot price was plummeting $19, according to Kitco's gold index. ...

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Warren Buffett Dissing Gold?

twocents@thestreet.com (Joe Deaux) — Mon, 06 May 2013 13:31 GMT

Warren Buffett wasn't bullish on gold this weekend, but RJO Futures's Phil Streible tells TheStreet's Joe Deaux what it means.

China Puts Gold Where Its Money Is

twocents@thestreet.com (Jeff Nielson) — Fri, 03 May 2013 19:33 GMT

VANCOUVER, Canada (Bullions Bull Canada) -- Since the Crash of 2008 exposed the global financial system as simply one big Ponzi scheme ticking down to implosion, one of the most public and emphatic economic policies of China's government has been the rapid/relentless accumulation of more gold reserves to "back" its own monetary system.

This economic priority has become an even greater imperative as China steadily replaces the U.S. dollar with the renminbi as the world's new reserve currency. Stage I of that process has seen trillions of dollars in bilateral trade agreements and currency-swaps.

Stage II was the establishment of a "renminbi trading bloc among seven of 10 of Asia's most prosperous economies, where the renminbi is now the reserve currency for these nations. ...

Gold Fluctuates on Upbeat Jobs Report

twocents@thestreet.com (Joe Deaux) — Fri, 03 May 2013 14:27 GMT

NEW YORK (TheStreet) -- Gold prices were fluctuating around the flatline on Friday after an upbeat jobs report triggered investors to move into equity markets.

Gold for June delivery at the COMEX division of the CME was rising $2.50 to $1,470.10 an ounce. The gold price traded as high as $1,487.20 and as low as $1,455.40 an ounce, while the spot price was increasing $7.30, according to Kitco's gold index.

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Gold Prices Get Fed, ECB Bump (Update 1)

twocents@thestreet.com (Joe Deaux) — Thu, 02 May 2013 19:02 GMT

Updated from 12:22 p.m. ET with settlement prices

NEW YORK (TheStreet) -- Gold prices jumped on Thursday after the European Central Bank reduced interest rates and the Federal Reserve reiterated its commitment to monetary stimulus.

COMEX Gold for June delivery rose $21.40 to $1,467.60 an ounce. The gold price traded as high as $1,473.30 and as low as $1,448.10 an ounce, while the spot price was adding $9.80, according to Kitco's gold index. ...

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Gold Sinks Ahead of Fed Announcement

twocents@thestreet.com (Joe Deaux) — Wed, 01 May 2013 15:23 GMT

NEW YORK (TheStreet) -- Gold prices were plummeting as profit-takers sank the yellow metal ahead of the Federal Reserve's policy-making announcement Wednesday afternoon.

Gold for June delivery at the COMEX division of the CME was dropping $27.90 to $1,444.20 an ounce. The gold price traded as high as $1,477.40 and as low as $1,442.80 an ounce, while the spot price was diving $32.50, according to Kitco's gold index.

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Could Fed Juice Gold?

twocents@thestreet.com (Joe Deaux) — Wed, 01 May 2013 13:22 GMT

The Federal Reserve's announcement on Wednesday could offer a more dovish tone for gold, ETF Securities U.S.'s Will Rhind tells Joe Deaux.

Gold Slightly Higher in Quiet Session

twocents@thestreet.com (Joe Deaux) — Tue, 30 Apr 2013 17:54 GMT

NEW YORK (TheStreet) -- Gold prices were slightly higher amid a quiet trading session on Tuesday as investors paused a day ahead of the Federal Reserve's policy-making announcement.

Gold for June delivery at the COMEX division of the CME was gaining $6 to $1,473.40 an ounce. The gold price traded as high as $1,479.50 and as low as $1,460.50 an ounce, while the spot price was slipping $2.10, according to Kitco's gold index.

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Gold Prices Gain Ahead of ECB Meeting

twocents@thestreet.com (Joe Deaux) — Mon, 29 Apr 2013 14:00 GMT

NEW YORK (TheStreet) -- Gold prices were climbing on Monday as traders anticipated a policy-making meeting this week of the European Central Bank.

COMEX Gold for June delivery was rising $13.20 to $1,466.80 an ounce. The gold price traded as high as 1,478.30 and as low as $1,461.6 an ounce, while the spot price was up $1.40, according to Kitco's gold index.

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Gold Prices Slip as Merkel Speaks (Update 1)

twocents@thestreet.com (Joe Deaux) — Fri, 26 Apr 2013 19:31 GMT

Updated from 8:53 a.m. ET with settlement prices and analyst comments

NEW YORK (TheStreet) -- Gold prices fell on Friday after German Chancellor Angela Merkel suggested that the European Central Bank may need to raise interest rates for Germany as it would have to provide greater liquidity for struggling eurozone members.

COMEX Gold for June delivery dipped $8.40 to $1,453.60 an ounce. The gold price traded as high as $1,484.80 and as low as $1,447.3 an ounce, while the spot price was down 8.70, according to Kitco's gold index. ...

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Gold Posts Biggest Gain in 2013 (Update 2)

twocents@thestreet.com (Joe Deaux) — Thu, 25 Apr 2013 18:39 GMT

Updated from 11:11 a.m. EDT with settlement prices.

NEW YORK (TheStreet) -- Gold prices posted on Monday the biggest gain of 2013 as speculation of an impending rate cut by the European Central Bank added upward momentum to the yellow metal. Gold jumped 1.1% on Wednesday.

Gold for June delivery at the COMEX division of the CME surged 38.30 to $1,462 an ounce. The gold price traded as high as $1,463.40 and as low as $1,426.30 an ounce. Gold has retraced about half of its losses since the two-day collapse on April 12 and April 15. ...

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The Silver Market: An 'Operation,' Not a Liquidation

twocents@thestreet.com (Jeff Nielson) — Thu, 25 Apr 2013 12:22 GMT

VANCOUVER, Canada (Bullion Bulls Canada) -- Recent commentaries have focused on the massive liquidation in the paper-gold market, as large investors (and in large numbers) have fled that paper in favor of real metal. It has now been established that this flight out of the paper-gold market was in response to the Cyprus "steal" -- and at least to some extent has been a choreographed event.

Naturally this had led to a question from readers: What about the silver market? Indeed, while the silver market has also seen the price for paper-silver plunge, there has been no corresponding liquidation seen with respect to demand for paper-silver.

So what is going on here?...

Gold Finds Groove on Weak Durable Goods (Update 1)

twocents@thestreet.com (Joe Deaux) — Wed, 24 Apr 2013 20:58 GMT

Updated from 11:25 a.m. ET with settlement prices.

NEW YORK (TheStreet) -- Gold prices popped Monday after durable-goods orders suggested that the U.S. manufacturing sector was softening.

Gold for June delivery at the COMEX division of the CME jumped $14.90 to $1,423.70 an ounce. The gold price traded as high as $1,433.60 and as low as $1,411.50 an ounce, while the spot price was adding $17.60, according to Kitco's gold index. ...

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New Silver ETN Offers High Income Potential

twocents@thestreet.com (Roger Nusbaum) — Wed, 24 Apr 2013 14:32 GMT

NEW YORK (TheStreet) -- A few months ago I wrote about the then new Gold Shares Covered Call ETN issued by Credit Suisse .

That exchange-traded note was designed to synthesize a long position in the SPDR Gold Trust . It also synthesizes the sale of calls each month that are 3% out of the money.

The objective of GLDI is to provide investors with exposure to gold along with the opportunity to receive monthly income -- in the form of dividend from the payment of the notional call premium. Investors will enjoy monthly gains in the precious metal of up to 3%. ...

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Platinum Beating a Slow Economy?

twocents@thestreet.com (Joe Deaux) — Wed, 24 Apr 2013 13:30 GMT

Platinum may beat the slowing global economy ETF Securities' Will Rhind Tells TheStreet's Joe Deaux

Silver Demand Softens on Industrial Swoon

twocents@thestreet.com (Joe Deaux) — Wed, 24 Apr 2013 12:30 GMT

NEW YORK (TheStreet) -- While gold dominates negative headlines, a new report on silver is out to remind investors that silver hasn't posted a great run either.

Silver prices, which often move in correlation with gold prices, suffered in 2012 from a setback in global economic growth as industrial demand softened and physical demand waned due to restrained buying in Asia, according to the Silver Institute's 2013 world silver survey.

The report, published Wednesday morning, comes a week after COMEX gold saw its largest single-day dollar drop on record and as silver has dropped 13.4% since its close on April 12. ...

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Global Macro: Germany and Copper Predict Market Weakness

twocents@thestreet.com (Andrew Sachais) — Wed, 24 Apr 2013 10:00 GMT

NEW YORK (TheStreet) -- So far this week, equity markets are focusing more on corporate fundamentals than on the macro environment.

Earnings have not disappointed but the global macro picture continues to show weakness. China export data contracted Tuesday and German business activity faltered. Global growth is not expected to be robust anytime soon, and this continues to play into selling inflationary assets.

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Smart Retiree Yield Solutions

twocents@thestreet.com (Gregg Greenberg) — Tue, 23 Apr 2013 20:08 GMT

Fross & Fross co-founder Tom Fross says don't forget about dividend paying stocks when searching for yield.

Can Micro Gold Miners Survive?

twocents@thestreet.com (Joe Deaux) — Tue, 23 Apr 2013 17:04 GMT

Micro cap gold miners face a tough market since gold's collapse. TomaGold's David Grondin tells TheStreet's Joe Deaux how they can survive.