Gold Price Rises As 32,732 Gold Contracts Are Delivered Video by Arcadia Economics After seeing record gold and silver deliveries on the #COMEX in recent months, the market has been eagerly awaiting the August #gold deliveries. And sure enough, it…
While millions of ounces of gold trade on the futures market every day, typically only a tiny fraction of that goes to delivery. But in recent months, huge amounts of bullion have flowed into New York and the Comex has seen record deliveries.
Gold prices edged higher on Friday as the worsening covid-19 pandemic continues to stifle the global economy.
Spot gold rose 11% for the month of July, heading for its biggest monthly gain in over eight years, driven by a declining US dollar and real yields. By 11:15 a.m. EDT, the spot price was up 1.0% to $1,974.40 per ounce, near an all-time high.
Concerns have also been raised about the dollar’s status as the world’s reserve currency of choice as it gets closer to its biggest monthly drop in almost a decade.
Newmont (NYSE: NEM, TSX: NGT) said on Wednesday that higher gold prices helped generate significant free cash flow in the second quarter.
The world’s largest gold miner’s adjusted net income for the June quarter was $261-million, or $0.32 per diluted share, compared with $92-million, or $0.12 per diluted share, in the prior-year quarter. The results topped analysts’ estimates of $0.31 per share.
Newmont reported $984 million in adjusted EBITDA and $388 million in free cash flow.
As the Fed and central banks continue to prop up the U.S. and global economy with money printing and liquidity, the fundamentals for gold and silver will only get better.
Gold futures tally a ninth gain in a row on Wednesday to settle at another record, then move even higher after the Federal Open Market Committee reiterated…
Gold is hovering around an all-time high, but Goldman Sachs says there’s more upside ahead.
Gold futures climb Tuesday to notch another record-high settlement as a fall in U.S. consumer confidence boosts the metal’s haven appeal.
“I see that there could be an even greater panic into gold and silver this time around than last time – the world is in a lot more trouble today than it was in 1979”.Join Mike Maloney for today’s update on the metals markets, including new analysis of the Gold/Silver ratio and how to construct your own investing plan for precious metals.
Record Money-Printing Has Been Rocket Fuel for the Price of Gold.