The Gold Report
Gold rose in Asia after the biggest decline in almost three weeks was seen as overdone by some investors. Silver gained.
Bullion lost 1.4 percent yesterday, the largest one-day drop since Oct. 2, as the dollar's rebound from a record against the euro reduced the precious metal's appeal as an alternative investment. The euro stabilized at $1.4197 at 10:48 a.m. Singapore time today, after losing 0.8 percent yesterday.
"Gold's move yesterday was a bit overdone," said Jonathan Barratt, managing director of Commodity Broking Services in Sydney. Demand for gold as an investment underpinned bullion at around the $746 level, he said.
Gold for immediate delivery gained as much as $3.70, or 0.5 percent, to $757.90 an ounce, before trading at $757.60 at 10:36 a.m. in Singapore. It fell to as low as $745.83 yesterday. Silver for immediate delivery gained 3 cents, or 0.3 percent, to $13.50 an ounce.
Notable Quotes
"We like NAN's Maniitsoq nickel sulfide project in Greenland." (7/23/14) North American Nickel Inc. - The Gold Report Interview with Doug Loud More >
"CMM is now fully financed to advance the Castle Mountain project." (7/11/14) Castle Mountain Mining Co. Ltd. - Tara Hassan, Haywood Securities More >
"MND's drilling extended the distribution of known mineralization." (7/11/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities More >
"TMM's positive operations are leading to free cash flow." (7/10/14) Timmins Gold Corp. - Philip Ker, PI Financial More >
"PG's new resource shows Indicated ounces increased by 69%." (7/9/14) Premier Gold Mines Ltd. - Morning Coffee More >
Gold Rises After Biggest Drop in Almost 3 Weeks; Silver Gains
Source: Bloomberg (10/23/07)
"Gold's move yesterday was a bit overdone," said Jonathan Barratt, managing director of Commodity Broking Services in Sydney. Demand for gold as an investment underpinned bullion at around the $746 level, he said.
More Experts
"AKG's mine generates a 24% IRR at our long-term gold price curve." (7/17/14) Asanko Gold Inc. - Joe Mazumdar, Canaccord Genuity More >
"TMM's Q2/14 production beat was attributed to better-than-expected recoveries." (7/10/14) Timmins Gold Corp. - Andrew Kaip, BMO Capital Markets More >
"UCU is in a short-term uptrend, confirmed by positive momentum." (7/10/14) Ucore Rare Metals Inc. - Luisa Moreno, Euro Pacific Canada More >
"We rate P Outperform; it's one of our top picks in 2014." (7/10/14) Primero Mining Corp. - Michael Gray, Macquarie Capital Markets More >
"MND's Q2/14 Au eq production was largely in line with our forecasts." (7/10/14) Mandalay Resources Corp. - Andrew Kaip, BMO Capital Markets More >