News

Gold ended the trading day at $1,322 an ounce on the Comex division of the New York Stock Exchange on Monday, a 10-week high, 6.1% gain for the month of June, and 3% gain for Q2. This is gold’s largest monthly gain since February. Kitco points out that technical buying, bargain buying, and the U.S. dollar

“The crowd cheered and blew horns, in what at times seemed more like a soccer game than a labor rally,” the Wall Street Journal described in its report on the end of the South African platinum mine strike. On Monday, the country’s major platinum mining union, the Association of Mineworkers and Construction Union (AMCU), agreed

Gold has reached a three-week high today as investors who sold their gold before yesterday’s Fed meeting have now bought it back following the announcement hinting at continued low interest rates. Gold for August delivery, by 10:00 a.m. EST when reported on by the Wall Street Journal, was at $1,288.40 per ounce, an increase of

We reported earlier today that gold was holding steady as the market was anticipating a statement from the Federal Reserve and a press conference by Janet Yellen, the Fed’s current Chairwoman. The statement, as expected, announced a downgraded outlook for the U.S. economy and a phasing out of its Quantitative Easing (economic stimulus) program. The Fed had

Gold is again responding to the conflicts in Iraq and Ukraine and gold bugs are standing by awaiting the next Federal Open Market Committee (FOMC) statement plus Federal Reserve Chair Janet Yellen’s press conference happening this afternoon. So far today in early trading, gold has held steady at $1,271.50 an ounce, only dropping by 50

Gold may be headed for a rally on safe-haven demand due to some interesting international developments. Gold for August delivery is up 0.2% to $1,262.40 an ounce today as of about 10:00 am EST. Silver also rose by 0.2%. The World Bank forecasted lower expectations for global economic growth, estimating it will expand by 2.8%

Impala Platinum Holdings, the world’s largest platinum mine, recently announced that its production will be halted until at least the middle of this year, even if the dominant union, the Association of Mineworkers and Construction Union (AMCU), resolves the work stoppage soon. About 70,000 members of the AMCU have been on strike since January 23,