Did Gold’s Strength This Week Spill Into Mining Stocks?
The short answer is not really, no.
Gold prices took advantage of a weaker U.S. dollar and geopolitical tension in Yemen to try stringing together its second winning week in a row, but miners didn’t really hop along for the ride.
Hecla Moves To Acquire Revett Mining Co. For $20 Million
Hecla Mining Co. (NYSE:HL) made a move to acquire Revett Mining Co. Inc. (TSX:RVM)(NYSE MKT:RVM) for $20 million in stocks.
Read moreFinal U.S. GDP Rises 2.2% In The Fourth Quarter, Grows 2.4% For The Year
(Kitco News) – The U.S. economy ended 2014 slightly weaker than economists were expecting, according to the Department of Commerce’s final gross domestic product report.
Gold Sees Corrective Pullback From This Week’s Gains
Gold prices are modestly lower on a downside technical correction and mild profit taking after good gains achieved earlier this week.
Read moreGold Premiums To Fall In China As Import Market Expands April 1 – WGC
(Kitco News) – Gold premiums in China are expected to fall, according to Albert Cheng, managing director of the World Gold Council’s (WGC) Far East office, as the Chinese government prepares to open up the market to more importers April 1.
Gold Ends Firmer, Hits 4-Week High, on Safe-Haven Demand and Technical Buying
Gold prices ended the U.S. day session higher, hit a four-week high and pushed above what was psychological resistance at the $1,200.00 level Thursday. Safe-haven demand amid a flare-up in the Middle East and chart-based buying fueled the gold market …
Read moreEndeavour Mining, True Gold Announce Executive Appointments
Endeavour Mining Corp. (TSX:EDV)(ASX:EVR) announced that Christian Milau, chief financial officer of the company, resigned his position and will be joining True Gold Mining Inc. (TSXV:TGM) as the company’s chief executive officer.
Gold’s Relationship With The U.S. Dollar Is Complicated – WGC
(Kitco News) – Gold still has an important role to play in an investor’s portfolio, even as the U.S. dollar holds near 12-year high, according to the latest research from the World Gold Council (WGC).
Don’t Underestimate Yemen’s Threat To Regional Stability – Nomura
With geopolitical risks growing in the Middle East, creating a “risk-off” environment that is supportive to gold prices, economists at Nomura caution investors to not underestimate the role Yemen could have on the region’s stability. In late January, the Japan-based bank warned of the deteriorating situation in the country and the risks this poses. “Wider strategic importance of Yemen should not be underestimated, especially with its geographical situation at the mouth of the Red Sea,” the bank says. “Our economist believes the situation further compounds the complexities of the troubled region and merits a continued watchful eye owing to the additional threat to wider stability. Indeed, this development may have implications for the ongoing P5+1 nuclear negotiations, for which we assign a higher than 50% probability to an agreement being reached, including political agreement by 31 March.”
