The Gold Report
Gold and silver rose on expectations the Federal Reserve will cut U.S. interest rates today, weakening the dollar and boosting the appeal of the precious metals as alternative investments.
Prices paid to U.S. producers fell more than forecast in August, tempering concern about inflation as the Fed considers lowering its benchmark lending rate for the first time in four years. Gold has rallied in five of the past six bear markets for the U.S. dollar.
...Gold futures for December delivery rose $2.20, or 0.3 percent, to $726 an ounce at 9:02 a.m. on the Comex division of the New York Mercantile Exchange. The price earlier reached $730.50, the highest since May 12, 2006. Before today, gold had climbed 13 percent this year.
Notable Quotes
"GRG has an exciting high-grade silver discovery and just released an NI-43-101-compliant resource estimate with 105 Moz Ag eq." (5/17/13) Golden Arrow Resources Corp. - The Gold Report Interview with Thibaut Lepouttre More >
"THO's Escobal remains on budget and on schedule; its progress is encouraging." (5/10/13) Tahoe Resources Inc. - Chris Thompson, Raymond James More >
"We reiterate our Outperform rating on P and it remains one of our top picks." (5/10/13) Primero Mining Corp. - Shawn Campbell, Macquarie Capital Markets More >
"DGC is attractively priced and should outperform its peers." (5/10/13) Detour Gold Corp. - Brad Humphrey, Raymond James More >
"Lead, zinc and gold factor heavily into the economics for MAG's Juanicipio silver project." (5/14/13) MAG Silver Corp. - The Metals Report Interview with Brent Cook More >
Gold, Silver Futures Gain on Expectations Fed Will Cut Rates
Source: Bloomberg (9/18/07)
...Gold futures for December delivery rose $2.20, or 0.3 percent, to $726 an ounce at 9:02 a.m. on the Comex division of the New York Mercantile Exchange.
More Experts
"ATY absolutely has potential for further discoveries at El Roble." (5/10/13) Atico Mining Corp. - The Gold Report Interview with Paul Harris More >
"OLE has the single largest set of deposits in Senegal, a country where gold mining is growing." (5/13/13) Oromin Explorations Ltd. - The Gold Report Interview with Peter Grandich More >
"BRD's Grey Fox continues to return high-grade gold results." (5/9/13) Brigus Gold Corp. - Eric Winmill, Casimir Capital More >
"We currently have a Buy recommendation on PVG." (5/8/13) Pretium Resources Inc. - Ash Guglani, Salman Partners More >
"NGC will solidify its position as having the most advanced and economically robust graphite project out there." (5/8/13) Northern Graphite Corporation - Kiril Mugerman, Industrial Alliance Securities More >