Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: .
Sector: Gold Mining
Epic: GOLD
News: Latest news
Web Site: Gold
Other Articles: 09-03-201008-03-201025-02-2010

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday March 11, 11:17Eco Animal Health Group: moves into US and China could be transformational

Aivlosin® now accounts for more than half of global sales for ECO. Sales in China during FY 2009 were more than 60% ahead of the previous year, and expectations for FY 2010 indicate similar progress.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Wednesday March 10, 06:27Tantalum market outlook

There are mounting fears in the tantalum market that serious shortages are looming. Weak demand in consuming industries, particularly capacitors, coupled with large inventories in the supply chain, has kept tantalum prices low.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Tuesday March 09, 10:55Nidec Corporation adds third factory and laboratory in Dalian City, China

Nidec Corporation (NYSE:NJ), the Japan headquartered manufacturer of small-to-mid-size motors, fan motors, and pivot assemblies, is to expand its presence in China through the construction [...]

FULL ARTICLE ►
Gold

Gold

Gold is a chemical element with the symbol Au and the currency code is XAU. It is a highly sought-after precious metal which, for many centuries, has been used as money, a store of value and in jewelry. The metal occurs as nuggets or grains in rocks, underground "veins" and in alluvial deposits. Modern industrial uses include dentistry and electronics, where gold has traditionally found use because of its good resistance to oxidative corrosion.
Monday, February 08, 2010

Gold and silver bounce around, gold and silver producers mostly rise in early deals

company news image

After climbing in the early hours of the new trading week, spot Gold once again came under pressure as U.S. investors started to weigh into the market.  It was a fairly choppy start to the day for Gold, which initially rose as high as $1074 per ounce in European trading, but was quickly knocked back to $1062 by the time U.S. markets opened, only to bounce again, and is currently trading around $1070.  Nonetheless, even at $1070/ounce, gold is still up on the day. It was a similar story for Silver, though the extent of the pull back from earlier gains was sharper, leaving the metal down at $14.88/ounce, but like gold, has quickly recovered back above the $15 level.


Equity markets started the day down, but quickly recovered.   The NASDAQ and S&P 500 both bounced off early losses are currently trading around 0.25% higher.  Oil and Gold were outperforming equities, up around 1% and 1.5% respectively. Canadian stock markets followed the higher commodity prices.  The TSX climbed 6 points to 11,229, while the TSX Venture rose 8 points to 1,464.  Both markets were buoyed by good performances from energy and mining stocks.


Major mining stocks posted good gains this morning in both London, New York and Toronto.


Gold miner Randgold Resources (LSE: RRS, NYSE: GOLD) led the sector in London with a 5.5% advance, while the world’s largest primary Silver producer Fresnillo (LSE: FRES), and Platinum miner Lonmin (LSE: LMI) followed, climbing 4% and 1.5% respectively.


Goldcorp (NYSE: GG) was one of the brighter spots in New York, rising almost 1% after initially opening lower, as was Agnico-Eagle (NYSE: AEM) which rose 0.4%.  Emerging mid-tier gold producer CGA Mining (TSX/ASX: CGA) had a good run after announcing it had completed an $83 million placing. Shares in the company jumped nearly 11%.

 
Nevsun Resources (TSX: NSU), another success story in West Africa, was also on the move, climbing 8.7%.


Not all precious metal miners basked in the sun however.


In London’s FTSE 250, Aquarius Platinum (LSE: AQP) was flat, while mid-tier gold miner Petropavlovsk (LSE: POG) lost around 1%. Silver producer Hochschild Mining (LSE: HOC) pulled back 1.8%.


In New York, Tier 1 gold producer Newmont Mining (NYSE: NEM) started the day weaker, falling around 1.1%, while Barrick Gold (NYSE: ABX) also slipped, down 0.2%.

AddThis Feed Button
Register here to be notified of future Gold articles.

Other Gold articles


Other Gold news

More news ►

Investors interested in Gold recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.