Longway to go ...donot worry on $1 ....$2
Missing connection ?
Fooling around people with short interest!!!!!!LOL
Gold prices continue to linger around the $1,200 mark and the debate rages on between the bullion bulls and bears as to where the future lies. For the past five years, the bears have been right, and any bull that took a position in the miners over that time is looking at some ugly losses.
Is the downward trend finally coming to an end?
It’s true that gold’s safe-haven status has lost some of its shine in recent years, especially in the U.S., as global equity markets continue to remain resilient in the face of serious political and financial threats. At the same time the strong U.S. dollar has provided little incentive for Americans to move into gold.
The attitude in the U.S. could soon change. Greece might send Europe down a road nobody wants to go; China’s massive property bubble still hasn’t popped; and the entire Middle East is at risk of becoming one massive war zone. A bad turn in any one of these situations could set off a stampede back into gold.
Kinross has battled hard to right the ship after its disastrous US$7.1 billion deal to acquire Redback mining back in 2010. A large part of the Redback purchase has been written off and Kinross is finally standing on solid ground again.
The company reported better-than-expected Q1 results and is producing enough cash flow to easily cover its capital projects. Production is on track to meet guidance and the balance sheet is actually quite healthy. Kinross finished Q1 with more than US$1 billion in cash and cash equivalents.
Bill Gross, money manager at Janus Capital Group Inc., said the global economy is “dangerously close to deflationary growth.” Once there is a “whiff of deflation, things tend to reverse and go badly,” Gross said
China, one of the largest importers of gold and other commodities, is allowing its currency to be driven more by market forces. Prices of the yellow metal had climbed briefly the previous day, helped by a weaker dollar.
Commodities broadly have taken a hit because it suggests weakness in a big gold buyer but one theory floating is that Chinese buyers, fearing currency devaluation and swooning from China’s recent stock SHCOMP, -0.01% market volatility, are seeking a haven in gold and supporting the metal’s price.
“There are suggestions that a Chinese devaluation of the yuan will mean that Chinese investors who have suffered from the stock market blowout and now fearful of further yuan depreciation/devaluation, will opt for gold,” wrote Richard Perry, market analyst at Hantec Markets in a research note Tuesday.
At lowest GOLD price this was traded in double digits......after split the first time KGC is taking upward movement regardless of Gold Prices.