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Gold, silver pull back on some profit-taking, normal consolidation Gold and silver prices are lower in midday U.S. dealings Thursday, on routine downside corrections following recent gains. Some profit-taking from the shorter-term futures traders was also featured today. A rebound in the U.S. dollar index today was also a negative daily element for the metals. Once again, it appears the two metals are tracking the U.S. stock indexes, which are lower at midday. June gold futures were last down $27.00…

Fed minutes reaffirms Powell's testimony which supports higher gold price The hard truth remains, economic stimulus continues to be needed as both the Federal Reserve through their monetary policy, and the U.S. Treasury through fiscal policies has ballooned, and more stimulus will likely will be needed. Today the minutes from the April FOMC meeting were released. They indicated that Federal Reserve members discussed being more transparent in regards to their future direction of interest rates. The Fed minutes coupled with…

Every time this happens, gold stocks explode – Frank Holmes Major bull rallies in gold stocks have been preceded by generalist investors rushing back into the sector, and this is exactly what is happening right now, said Frank Holmes, CEO of U.S. Global Investors. April saw historical highs in gold-backed ETF inflows, as well, record number of new online trading accounts have been opened during the last two months. “This past quarter has been a game changer. We now have…

Supply crunch pushing silver price to 3-month high All eyes are on silver as prices are starting the week with some robust follow-through buying after Friday's breakout session. In a comment to Kitco News, Phillip Streible, chief market strategist at Blue Line Futures, said that a perfect storm of increased investment demand and falling supply is expected to continue to push silver prices higher. May silver prices last traded at $17.51 an ounce, up 2.5% on the day. Sunday's rally…

$9,000 gold and triple-digit silver prices will come, but do this first – Midas Touch Consulting vid Long-term, investors can expect gold prices to climb multiple times its current value, and silver prices to rally into the triple digits, but they should not count on the precious metals to break out in the short-term. In , a correction is due and investors should take this as a buying opportunity, said Florian Grummes, managing director of Midas Touch Consulting “It looks…

Corvus Gold jumps 15% on Nevada drill results Nevada explorer Corvus Gold (TSX:KOR) traded up 15% to $2.58 a share on Wednesday after announcing a new discovery below its Mother Lode deposit. The company highlighted a drill result showing 125.5m @ 2.6 g/t gold including 14.8m @ 8.9 g/t gold & 24.7m @ 4.9 g/t gold. In a news release Jeffrey Pontius, President and CEO of Corvus, said the results reveal the potential of CIZ. “These new results now reveal…

Osisko Gold Royalties reports higher adjusted 1Q profit Osisko Gold Royalties Ltd. (TSX & NYSE: OR) posted a larger adjusted profit in the first quarter as revenues were boosted by higher prices of precious metals, the company said late Tuesday. Revenues from royalties and streams totaled $37.8 million, an increase of 13% from $33.5 million in the same quarter a year ago. The company listed 18,159 gold equivalent ounces, down from 19,753 a year ago. However, the average gold rose…

Hold on for inflation equities trade, JP Morgan says HANDOUT – 18 September 2019, US, Washington: US Federal Reserve (FOMC) chairman Jerome Powell speaks during a press conference. The US Federal Reserve on Wednesday lowered the target range for interest rates by a quarter point – the second cut in just ove Equity investors should not worry about inflation for the time being despite central banks unleashing monetary policy, JP Morgan said. The investment bank said it had received questions…