2014 Global Gold Mine Output Rose 2.25%; Canada See Biggest Rise – Natixis
(Kitco News) – Global gold mine production rose in 2014 by at least 2.25% to 2,875 tonnes, with Canada seeing a large jump in output last year, according to a French-based investment bank.
Read moreGold Sees Modest Rally on Some Safe-Haven Demand
Gold prices have rebounded from overnight selling pressure to trade modestly higher in early U.S. dealings Friday.
Read moreThe 6PM Recap With Gary Wagner: Doves And Hawks Greeks And Germans
As is their usual pattern, markets can’t decide on what the FOMC minutes actually mean for the U.S. economy as a whole.Gold was up on a dovish interpretation of the minutes for a while today, having traded as high as 1224.
Newmont Posts 4Q, Full-Year Profit As Cash Costs Lower
(Kitco News) – Newmont Mining Corporation (NYSE: NEM) reported net income of $39 million, or 8 cents per share, in the fourth quarter and $548 million, or $1.10 per share, in 2014.
Read moreGold Price Not As Sensitive To ‘Calendar Events’ As Many Believe – Capital Economics
(Kitco News) -With Chinese markets closed in celebration of the Lunar New Year, some analysts are expecting to see lower gold prices as a result of weaker demand. However, one research firm is not convinced that will be the case.
Read moreGoldcorp Looking Past Cerro Negro Impairment, Still A Cornerstone Asset – CEO
(Kitco News) – Goldcorp Inc. (TSX:G)(NYSE:GG) reported a net loss in its fourth quarter earnings, largely due to a $2.3 billion net of tax impairment charge on its Cerro Negro mine, located in Argentina, but that’s not changing how the company feels about one of its newest mines.
Nichols: Market Can’t Ignore Gold’s Safe-Haven Appeal Forever
The gold market has ignored geopolitical uncertainty in Europe and the ongoing crisis in Ukraine, and instead is focusing on U.S. interest rates and the U.S. dollar, but this trend can’t continue says Jeffrey Nichols, senior economic advisor to Rosland Capital, a precious metal asset firm. “As the dollar has appreciated, gold denominated in U.S. dollars has depreciated – a tendency that has been exacerbated by the pull of higher equity prices and the flow of funds from under-performing gold to over-performing stocks,” he says. “This situation can’t and won’t continue forever. Eventually, markets must reflect realities. The U.S. dollar may be the most attractive – or least unattractive – runner in today’s currency derby, but fundamentally it remains unhealthy.” Nichols adds that gold’s short-term volatility has little to do with its long-term fundamental bullish outlook. “We expect the price of gold will move to new historic highs in the next few years as more people and institutions around the world have the means and desire to hold more of their wealth in gold.”
Gold Ends Firmer But Gains Pared by Bearish Outside Markets
Gold ended the U.S. day session with moderate gains, on follow-through strength following Wednesday afternoon’s dovish-FOMC-minutes-inspired rally. Short covering in the futures market and bargain hunting in the cash market were featured. However, bearish outside markets—a firmer U.S. dollar index and lower crude oil prices—helped to push gold and silver prices well down from their daily highs. April Comex gold was last up $8.20 at $1,208.40 an ounce. March Comex silver last traded up $0.15 at $16.46 an ounce.
LBMA To Launch New Gold E-Auction March 20
(Kitco News) -With the administration in place the London Bullion Market Association announced that it is set to launch the new the LBMA Gold Price, March 20.
Read more‘Our Focus Is Gold, Not Diversifying’ – Barrick Chairman
(Kitco News) – Barrick Gold Corp.’s (TSX:ABX)(NYSE:ABX) executive team left little doubt that the gold mining giant’s focus is firmly on the yellow metal.
