Friday, October 24th 12:43 PM

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%…..Continue

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.

Gold recovers on pullback in US dollar, Silver volatility predicts turning point: ETFS

  • Weak data from Germany underscores the fragile state of the Euroarea, bolstering the case for further easing from the European Central Bank, which may strengthen demand for gold as a monetary metal.

Gold trades above $1200 on return of physical demand in India, China

  • In a weekly update, Barclays said that the bounce could be shortlived amidst not so favourable macro environment. On the other hand festival and wedding season in India could present short covering rallies and therefore an uptrend in gold.

Gold rises to $1230, Silver to $17.69: Monex Precious Metals Review

  • Monex spot gold prices opened the week at $1,196 . . . traded as high as $1,230 on Thursday and as low as $1,196 on Monday . . . and the Monex AM settlement price on Friday was $1,222, up $26 for the week.
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