Freeport-McMoRan Slumps To $2.5B Loss
(Kitco News) – Diversified mining giant Freeport McMoRan Inc. (NYSE:FCX) reported a net loss of $2.5 billion, or $2.38 per share in the first quarter of 2015, a sharp decline from net income of $510 million, or 49 cents per share in the first quarter o…
Read moreThe 6PM Recap With Gary Wagner: Gold Torpedoed By U.S. Housing Data
As George Harrison sang, “Little darling, I feel that ice is slowly melting.” And now, if the huge jump in both sales and prices of existing homes are any indication, the American economy is in for the spring ride of its life.
Bad News For Electric Vehicles On Earth Day
Just in time for Earth Day, U.S. based consumer advice site Edmunds.com released a shocking report: despite continuing enthusiasm in specific buyer groups, overall sales of alternative fuel vehicles are declining!
Read moreGold Closes at 3-Week Low Close on Technical Selling, Upbeat U.S. Housing Data
Gold futures prices ended the U.S. day session solidly lower and closed at a three-week low close Wednesday. Chart-based sellers were active in gold and silver today, including sell-stop orders being triggered in the futures markets. A positive U.S. e…
Read moreGold’s Inability to Break Above $1,200 Was ‘Ominous Warning’ – Triland Metals
Gold’s failed attempt to break through near-term resistance at $1,208 was an “ominous warning” for investors, say analysts at Triland Metals. They add that the next price level to keep an eye on will be April’s earlier low at $1,183 an ounce. “This is the key pivot point for the medium term direction of this market,” they said. Despite the bearish momentum, the analysts are expecting prices to remain range bound between support at $1,175 and resistance at $1,225.
Indian Gold Sales Surpass Expectations For Akshaya Tritiya – Analysts
According to reports, gold sales in India picked up during the Akshaya Tritiya festival after what was believed to have been a relatively slow start.
Read moreTrading Activity In Gold, Silver Increase In March Despite Falling Prices – LBMA
Trading activity in gold and silver increased in March, despite falling prices, according to the latest data from the London Bullion Market Association (LBMA).
Read moreAlamos Cutting Dividend To Preserve Cash For Growth – CIBC
Alamos Gold Inc. (TSX:AGI) announced it would be cutting back on its semi-annual dividend earlier in the week, bringing it down to 3 cents per share from 10 cents per share. CIBC analysts note it was a move to preserve cash.
Read moreGold, Silver Coin Sales Down On Monthly, Yearly Basis
(Kitco News) – Although gold prices appear to be stabilizing around $1,200 an ounce, analysts at Barclays noted in a research note Monday that investor demand in the form of bullion coins has been lackluster in April.
Read moreU.S. Existing Home Sales Rise 6.1% In March
(Kitco News) – Improving weather conditions helped the housing market find some momentum last month as sales of existing homes were stronger than expected, according to the latest report from the National Association of Realtors (NAR).
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