Friday, October 31st 09:16 AM

Radomski said that RSI indicator is not oversold, so gold can very well fall further. How low can gold go initially? At least to the previous October low or perhaps…..Continue

Gold set to bottom at $1000 and climb to $3000 in three years: Jordan Roy Byrne

  • Byrne said that key driver of gold is negative real rates. There is talk of increase in interest rates by US Federal Reserve some time in early 2015. However, since the governments are in huge debt, raising interest rates actually raises the cost of holding such debt.

Gold eyes FOMC meet, Silver supply to decline: ETFS

  • In US dollar terms, gold ended the week with a year-to-date (YTD) gain of 2.4% compared to the 6.3% YTD increase in the S&P 500 index and despite a 7.1% increase in the US dollar index.

India Gold prices 7% lower this Diwali season

  • Rajesh Exports Ltd. anticipated jewelry sales rising between 30% and 40% during Dhanteras, and, as noted by several news reports, gold purchases were running 15% to 20% higher on average for Dhanteras

Solfernino Mine's irresistible offer: Gold for $650 per ounce

  • Solferino Gold Mine/Colombia Reserva De Oro will be initially mining 150,000 oz of gold, and is earmarking 40,000 oz of it to be sold at $650 an oz. Considering that gold closed yesterday at $1246, the possibility of getting it at $650/oz is unheard of. It is by far the lowest price in the world for gold today.

Gold gains on volatility, rise in net speculative longs:ETFS

  • Net speculative longs in gold increase for the first time since August 2014. There is a growing sense that the metal’s price has been beaten up too far. With the marginal cost of production close to US$1100/oz, miners are likely to cut back on production should the price fall any further, helping to constrain supply.

Troy signs minerals agreement for the Karouni Gold Project in Guyana

  • The Minerals Agreement details all fiscal, property, import-export procedures, taxation and other related conditions for the development and operation of Karouni.

India's Diwali festivities could push Gold higher

  • The gold-supportive macro environment has seen gold extend its gains above the $1200/Oz mark as the dollar has weakened, the St. Louis Fed discussed the possibility of further stimulus, and importantly, demand picked up amid the seasonally strong period of consumption.

Monex Precious Metals Review :Gold rises to $1249, Silver to $17.79

  • Monex spot gold prices opened the week at $1,227 . . . traded as high as $1,249 on Wednesday and as low as $1,227 on Monday . . . and the Monex AM settlement price on Friday was $1,239, up $12 for the week.

Gold rebound thwarted by positive US data, equity gains

  • Despite hitting a resistance at $1250 levels, gold is still on track for second weekly gains. Changing rate expectations are driving gold and US dollar, analysts said.
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