Archive for June, 2008
Gold Miners Lead All Industries as the Dollar Falls
COMMENTARY: Gold and silver miners saw a flurry of trading in the last 20 minutes of trading on Friday that lifted the industry to a 1.3% gain. The triple witching day volume came in the absence of any company specific news, but higher commodity prices and a notable dollar decline may have registered on traders at the close of the week. The [...]
Dubai’s gold sales rise 18% as price eases
DUBAI: Dubai’s gold jewellery sales volume rose 18% last month on relatively less volatile and lower gold prices, a senior gold industry executive in the Gulf Arab emirate has said. “So far prices are OK for buyers and not as high as they used to be in March,” Tawhid Abdullah, managing director of the Dubai Gold and Jewellery Group told [...]
Gold rebounds on bargain hunters
By Lewa Pardomuan of Reuters SINGAPORE -- Gold has rebounded, as investors sought bargains after prices dropped to near a six-week low the previous day on a firmer US dollar, but the $US900 resistance level remains a tough one to crack. Gold rose to $US871.45/872.45 an ounce from $US867.55/869.55 late in New York on Thursday, when it fell to [...]
Gold Wheaton and FNX Mining Launch New Gold Stream Company
TORONTO, ONTARIO--(Marketwire - June 12, 2008) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FNX Mining Company Inc. (TSX:FNX) ("FNX") is pleased to announce that the Company and Kadywood Capital Corp. ("Gold Wheaton") (TSX VENTURE:KDC.H) are launching Gold Wheaton Corp., a new gold stream [...]
Gold Wheaton and FNX Mining Launch New Gold Stream Company
TORONTO, ONTARIO--(Marketwire - June 12, 2008) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FNX Mining Company Inc. (TSX:FNX) ("FNX") is pleased to announce that the Company and Kadywood Capital Corp. ("Gold Wheaton") (TSX VENTURE:KDC.H) are launching Gold Wheaton Corp., a new gold stream [...]
UPDATE 2-Tokyo bourse says to list first gold ETF
By Miho Yoshikawa TOKYO, June 13 (Reuters) - Japan's largest bourse plans to launch the nation's first bullion-backed, gold exchange-traded fund on June 30, in a bid to draw more investors and help enhance Tokyo as a financial centre. The Tokyo Stock Exchange said on Friday that it will offer the SPDR Gold Shares ETF, which is sponsored [...]
Gold futures trim losses as core inflation rate as expected
NEW YORK (MarketWatch) -- Gold futures lightly pared their losses after the government reported core inflation rose 0.2% in May, while the overall consumer price index climbed 0.6%. Down $6.00 earlier on, gold futures for August delivery fell $2.00 to $870.00 an ounce on the New York Mercantile Exchange. Silver futures for June delivery gained 13 [...]
Gold futures trim losses as core inflation rate as expected
NEW YORK (MarketWatch) -- Gold futures lightly pared their losses after the government reported core inflation rose 0.2% in May, while the overall consumer price index climbed 0.6%. Down $6.00 earlier on, gold futures for August delivery fell $2.00 to $870.00 an ounce on the New York Mercantile Exchange. Silver futures for June delivery gained 13 [...]
Precious Signs
It is impossible to extrapolate anything from a single data point, however careful observation usually pays dividends especially when looking for certain clues that financial markets may signal. Today, Thursday June 5, 2008 I noticed that gold was down on the day and yet gold stocks were up. Silver actually had a rather positive day overall and [...]
With Inflation, There’s no Free Lunch
If Americans feel they are being pick-pocketed by inflation, they should take a look overseas. With the United States pushing its trade deficit and dollars on the rest of the world, many world central banks thought they could grab a “free lunch” by buying US Treasuries to hold the exchange rate of their currencies down, and paying for them by [...]
