GC=F - Gold Aug 19

COMEX - COMEX Delayed Price. Currency in USD
1,419.10
+19.00 (+1.36%)
As of 2:40PM EDT. Market open.
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Pre. SettlementN/A
Settlement Date2019-08-28
Open1,391.20
Bid1,419.10
Last Price1,396.90
Day's Range1,386.10 - 1,421.00
Volume331,066
Ask1,419.30
  • Madonna edges out Springsteen to top US charts
    AFP2 hours ago

    Madonna edges out Springsteen to top US charts

    Legends Madonna and Bruce Springsteen are taking fans on a trip down memory lane, respectively nabbing numbers one and two of the US top album tally. Madonna's "Madame X" struck gold on the Billboard 200 chart, landing the icon her ninth number one album atop the list, which the industry tracker will publish in full on Tuesday. Springsteen's "Western Stars" raced in at second -- marking the first time since 1985 that the Queen of Pop and The Boss are reigning over the album chart together.

  • Gold is Now the Hottest Trade: ETFs to Add More Shine
    Zacks4 hours ago

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    Investors who are bullish on gold right now may want to consider a near-term long on the precious metal.

  • Reuters5 hours ago

    CANADA STOCKS-TSX flat as mining sector offsets losses in cannabis shares

    Canada's main stock index was unchanged on Monday, with losses in stocks of cannabis producers offsetting a rise in shares of precious metal miners as fears of an escalation in U.S.-Iran tensions spurred demand of gold. * At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 8.49 points, or 0.05%, at 16,516.94. * Investors globally will be on edge ahead of a high stakes meeting later this week between the presidents of United States and China at the G20 summit where they are expected to work out differences in trade issues.

  • Reuters5 hours ago

    UPDATE 1-Acacia Mining says Barrick offer undervalues the company

    Acacia Mining on Monday strongly disagreed with majority shareholder Barrick Gold Corp's valuation of the company, saying Barrick's proposal undervalued its life of mine plans and appears to have ignored the value of its exploration and development assets. Barrick's proposal to take full control of its African unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Toronto-based Barrick's May 21 share-for-share proposal valued Acacia at $979 million as of Friday's close, versus $787 million when it first proposed the deal, thanks to a 27% jump in Barrick shares.

  • Acacia Mining says Barrick offer undervalues the company
    Reuters6 hours ago

    Acacia Mining says Barrick offer undervalues the company

    Barrick's proposal to take full control of its African unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Toronto-based Barrick's May 21 share-for-share proposal valued Acacia at $979 million as of Friday's close, versus $787 million when it first proposed the deal, thanks to a 27% jump in Barrick shares.

  • Reuters6 hours ago

    Acacia dismisses Barrick's view on miner's value

    Acacia Mining said on Monday it strongly disagreed with majority shareholder Barrick Gold Corp's valuation of the company, saying it rejected Barrick's view of its life of mine plans. Barrick's proposal to take full control of its African unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Toronto-based Barrick's May 21 share-for-share proposal valued Acacia at $787 million.

  • 'Where's the Gratitude, Peter Schiff?' - Gold Bug Gets Grilled By Bitcoin Proponents
    Cointelegraph11 hours ago

    'Where's the Gratitude, Peter Schiff?' - Gold Bug Gets Grilled By Bitcoin Proponents

    Former Wall Street trader and host of the Keiser Report Max Keiser was leading the backlash against the bitcoin (BTC) naysayers this weekend as the bitcoin price passed $11,000. Using Twitter as a platform, Keiser focused on gold enthusiasts after several claimed that despite its performance, bitcoin was still an inferior bet to the precious metal. Among them was Peter Schiff, the veteran gold bug who has regularly trashed cryptocurrency both informally and via interviews while ironically also accepting it as payment.

  • Why Safe Haven Gold ETFs Are Soaring as Trump-Xi Trade Talks Loom
    Investopedia11 hours ago

    Why Safe Haven Gold ETFs Are Soaring as Trump-Xi Trade Talks Loom

    Gold and gold ETFs are soaring as the threat of a deepening trade conflict between the U.S. and China looms.

  • BlackRock Sees Gold Ending Year Higher on Fed's Dovish Pivot
    Bloomberg12 hours ago

    BlackRock Sees Gold Ending Year Higher on Fed's Dovish Pivot

    (Bloomberg) -- Gold’s rally to the highest since 2013 may have room to run further after the Federal Reserve indicated a readiness to cut borrowing costs, which would keep real rates low and weigh on the dollar, according to BlackRock Inc.“Gold could end the year higher,” Russ Koesterich, portfolio manager at the $27 billion BlackRock Global Allocation Fund, said in an interview. “If we continue to see a pivot toward easier monetary policy from the Fed, then I think gold can go higher from here,” he said, adding that there is likely to be some pullback and consolidation in the near-term.Gold is back in the limelight as investors seek havens amid slowing global growth due to the fallout from the U.S.-China trade dispute and as central banks globally adopt a more dovish tone. While the Fed left its key rate unchanged on Wednesday, it dropped a reference to being “patient” on borrowing costs and forecast a larger miss of their 2% inflation target this year. The greenback weakened to erase its 2019 gains.“If easier policy from the Fed contains the dollar, that’s an environment, all else equal, that is supportive of gold,” Koesterich said last week in a phone interview after the central bank’s decision. “What I’d add is if we get a situation where the Fed is easing perhaps more than people thought because trade frictions are rising, that might be a particularly strong period for gold.”The Fed would be easing at the same time as volatility would be rising and demand from investors for hedges would be going up, he said.Spot gold rose as much as 0.8% to $1,411.23 an ounce and traded at $1,406.02 at 7:12 a.m. in London. Prices surged to $1,411.63 on Friday, the highest level in more than five years. Citigroup Inc. said Thursday that the enthusiasm is justified, with $1,500 to $1,600 possible in the next 12 months under a bullish-case scenario that includes borrowing costs falling below zero.The Fed last cut rates in 2008 and began its most recent tightening cycle at the end of 2015, with four hikes last year. The so-called dot plot, which the U.S. central bank uses to signal its outlook for the path of interest rates, shows that policy makers are divided for the remainder of 2019. European Central Bank President Mario Draghi last week paved the way for a rate cut, and counterparts in Australia, India and Russia have lowered borrowing costs.“In the near term, gold, like bonds, has had a very large move, so it would not be surprising if there was some consolidation,” said Koesterich, adding that BlackRock’s bullion holdings through exchange-traded funds have been “relatively static” over the last month. “But if we are moving into a period where the Fed or other central banks feel the need to ease monetary conditions, gold is probably going to have a better environment than it did earlier this year.”(Updates price in sixth paragraph.)To contact the reporter on this story: Ranjeetha Pakiam in Singapore at rpakiam@bloomberg.netTo contact the editors responsible for this story: Phoebe Sedgman at psedgman2@bloomberg.net, Keith GosmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Investing.com13 hours ago

    Top 5 Things to Know in the Market on Monday

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  • A Monumental Fight Over Facebook’s Cryptocurrency Is Coming
    Coindesk15 hours ago

    A Monumental Fight Over Facebook’s Cryptocurrency Is Coming

    The buck stops with Zuck in the looming fight between the world's governments and Facebook over Libra.

  • Investing.comyesterday

    Energy & Precious Metals - Weekly Review and Calendar Ahead

    By Barani Krishnan

  • Angola bounces back after slump in fuel production
    AFPyesterday

    Angola bounces back after slump in fuel production

    Angola is bouncing back after its fuel production slumped last year to a decade low as President Joao Lourenco steers reforms vital to the country's economy and wins approval from oil majors. "We should come back to 2012/2013 to see the same level of interest" as that now being shown by investors, Brusco told AFP on the sidelines of a conference earlier this month in Luanda. France's Total, the premier operator in Africa's second-largest oil producer after Nigeria with output of 650,000 barrels per day, confirms as much.

  • Top Gold Stocks of April 2019
    Investopedia2 days ago

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    Here are some of the top gold stocks, drawn from among the largest gold mining and related companies in the world.

  • Is Royal Gold, Inc. (NASDAQ:RGLD) Struggling With Its 5.1% Return On Capital Employed?
    Simply Wall St.2 days ago

    Is Royal Gold, Inc. (NASDAQ:RGLD) Struggling With Its 5.1% Return On Capital Employed?

    Today we are going to look at Royal Gold, Inc. (NASDAQ:RGLD) to see whether it might be an attractive investment...

  • Above $300: Ether Price Clocks 10-Month High
    Coindesk2 days ago

    Above $300: Ether Price Clocks 10-Month High

    The price of ethereum’s native cryptocurrency ether surpassed $300 today to hit ten-month highs.

  • Gold Shot to a 6-Year High This Week. Here's What to Watch Next
    Bloomberg3 days ago

    Gold Shot to a 6-Year High This Week. Here's What to Watch Next

    (Bloomberg) -- Call it the trifecta that gave rocket fuel to the gold market: Powell, positioning and politics.It was Jerome Powell’s signal that the Federal Reserve is moving closer to lowering interest rates and a brewing conflict between Iran and the U.S. that lit a spark in the market, burnishing gold’s credentials as a hedge against inflation and a weakening dollar. It was enough for gold to break through a long-term technical resistance at $1,350 an ounce, which unleashed a wave of short-covering and momentum buying.In a world where many competing safe-haven assets such as government bonds are offering negative rates and the yield curve is pointing to a recession, gold is looking like an good bet. Now, all eyes are on investors who must weigh up whether to chase prices higher or cash in on the rally.“There’s been gold-friendly news all around,” Ole Hansen, head of commodity strategy at Saxo Bank A/S, said by phone from Copenhagen. “Those who have bought in the past few weeks will need reassurance that they haven’t just entered at the top of the market."Gold ended the week trading near $1,400 and recorded the biggest weekly gain in three years.There are a lot of newcomers to the gold rally. Investors poured almost $3 billion into exchange-traded funds linked to the metal so far this month, which could be the biggest inflow since January.But technical indicators signal that the market is getting overheated. The relative strength index is deep in overbought territory, and investors may soon decide to take profit unless there are fresh external catalysts to help keep the rally going, Hansen said.Here are a few key things likely to drive sentiment through the rest of the month:Economy WatchAny further signs of a slowdown in the U.S. economy could help prop up the case for an interest-rate cut, thereby boosting gold’s appeal. After reports on Friday showing U.S. manufacturing was on the cusp of contraction in June, GDP data and consumer confidence figures will be closely watched next week.The Iran SituationSo far, gold’s rally has been driven mainly by the Fed’s dovish pivot, but a further deterioration in U.S. relations with Iran could fuel a fresh round of haven buying. U.S. officials say Iran is rejecting efforts to resolve the dispute through diplomatic channels, raising the possibility of military action that would have immediate and far-reaching political and economic consequences in the Middle East.Trump and Xi at G-20Trump is due to meet with Xi Jinping at the end of the G-20 Summit with hopes of reviving talks on a trade deal. Failing to get the two sides back on track could stoke worries about the trajectory of global growth.“Gold is very friendly towards recession,” Saxo Bank’s Hansen said.To contact the reporter on this story: Mark Burton in London at mburton51@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Dylan GriffithsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Gold Bug Peter Schiff Celebrates Metal’s Pitiful Gains, Bashes Bitcoin
    CCN3 days ago

    Gold Bug Peter Schiff Celebrates Metal’s Pitiful Gains, Bashes Bitcoin

    By CCN Markets: Longtime crypto critic and gold proponent Peter Schiff is excited. He’s not happy due to the stock market hitting new all-time highs or bitcoin prices surging but rather by a microscopic advance in the price of gold. This week, the price of gold topped $1,400 per ounce for the first time in more than five years. This, a mere 25% rally from recent lows, was enough for Schiff to declare victory: Over the last year exactly, it is up $130 per ounce or 10 percent. Schiff: Wrong on Gold for a Long Time Peter Schiff has reasons

  • MarketWatch3 days ago

    Gold futures settle above $1,400 for first time in almost 6 years

    Gold futures edged higher Friday, scoring a weekly gain of just over 4% and settling above $1,400 an ounce for the first time since September 2013. The metal found support from "intense safe-haven purchasing given potential for further escalation with Iran," as well as "follow through" from the Federal Open Market Committee meeting earlier this week, said Jeff Wright, executive vice president of GoldMining Inc., which signaled the central bank's willingness to cut interest rates. August gold rose $3.20, or 0.2%, to settle at $1,400.10 on Comex.

  • Key Catalysts to Watch as Gold Looks Beyond $1,400
    Market Realist3 days ago

    Key Catalysts to Watch as Gold Looks Beyond $1,400

    Gold is outperforming stocks even when stock markets are making highs. The SPDR Gold Shares (GLD) has gained 8.7% in the last one month, and the VanEck Vectors Gold Miners ETF (GDX) has amplified that return by rising 21.1% in the same period.

  • Gold Prices Surpass $1,400 and Gold ETFs Surge
    Market Realist3 days ago

    Gold Prices Surpass $1,400 and Gold ETFs Surge

    Gold futures registered their single largest one-day jump of 2.8% on June 20 following the Fed’s dovish stance at its June meeting. While the Fed kept rates unchanged, it hinted at future rate cuts if the conditions warrant them, which sent gold prices soaring.

  • What Percentage Of Maya Gold and Silver Inc. (TSE:MYA) Shares Do Insiders Own?
    Simply Wall St.3 days ago

    What Percentage Of Maya Gold and Silver Inc. (TSE:MYA) Shares Do Insiders Own?

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  • Female sports journalists still face rampant sexism on the job
    Quartz3 days ago

    Female sports journalists still face rampant sexism on the job

    The Women's World Cup is putting a spotlight on the sexual harassment that plagues the industry for female sports journalists.

  • Middle East Tensions Perk Up Oil Prices: Here's How to Profit
    Zacks3 days ago

    Middle East Tensions Perk Up Oil Prices: Here's How to Profit

    U.S. oil prices post its biggest one-day gain so far this year as tensions between the United States and Iran heat up.

  • Gold Stocks in Focus on Dovish Fed, Geopolitical Tensions
    Zacks3 days ago

    Gold Stocks in Focus on Dovish Fed, Geopolitical Tensions

    Easing monetary stance, rising geopolitical tensions have increased demand for gold as a safe haven thus pulling up its prices.