Gold and silver suffered small losses on the week in subdued trading. In European trade this morning gold was at $1707, down $22 from last Friday’s close, and silver at…
Over the next 30 years, Frank Holmes predicts that gold will reach incredible new highs with China being…
“Don’t fight The Fed” may soon have a very different meaning for the long-time asset-gatherers and commission-rakers who spew this age-old phrase to justify buying stocks at the first sign of any easing by central banks.
If Guggenheim Investments’ Global CIO, Scott Minerd, is right, not fighting The Fed may soon mean buying gold alongside them…as he explores The Fed’s increasingly unorthodox policy options ahead if the economy remains mired in a protracted downturn.
That’s a question I’m asked frequently. It’s usually followed by a comment along the lines of, “I don’t get it. It’s just a shiny rock. People dig it out of the ground and then put it back in the ground. What’s the point?”
I usually begin my reply by saying, “It’s not a rock, it’s a metal” and then go from there.
I have a lot of sympathy in these conversations.
Further to its press release last week, Novagold Resources (NYSE American, TSX: NG) has released a detailed statement to address the May 28 report issued by short seller J Capital Research, which accused the company of misleading investors in regards to its Donlin gold project in Alaska.
In the statement, Novagold chairman Dr. Thomas S. Kaplan recounts and attacks every statement made by J Capital which it considers to be “defamatory”, fiercely defends his company and its gold project, and alleges the short seller provided misleading information to make profits.
Gold price edged higher on Monday, rebounding from the previous session’s steep fall, as investors are hopeful of further monetary policy action from the US Federal Reserve this week.
Spot gold climbed 0.4% to $1,690.90 per ounce by 11:30 a.m. EST, while US gold futures rose 1.0% to $1,698.20 per ounce in New York.
“The Fed will continue to have uber dovish policies, they will continue to suppress real rates and that’s the main driver for gold purchases over the last few months,” Daniel Ghali, commodity strategist at TD Securities, told Reuters, adding that the macro implications will continue to support the precious metal.