Gold News

Hand picked GOLD NEWS from around the web. Get the latest and greatest gold news from one source! All economic news effecting the price of gold.

Gold price set for best month in eight years

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 tops profit estimates on gold price surge

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.

Gold & Silver: The Master Plan – Mike Maloney

“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.