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
"GCM's new plant will allow it to grow production to 170 Koz gold by 2015." (7/30/14) Gran Colombia Gold Corp. - The Gold Report Interview with Ralph Aldis More >
"We've been impressed with how far DAN has moved the Lac ą Paul project along." (7/29/14) Arianne Phosphate Inc. - The Mining Report Interview with John Chu More >
"Metallurgical testing on MKA's REE deposit in Malawi suggests that it should be fairly easy to process with relatively high rates of recovery." (7/28/14) Mkango Resources Ltd. - The Gold Report Interview with Paul Renken More >
"MND should gain CA$2.46M from accelerated exercise of Elgin's warrants." (7/28/14) Mandalay Resources Corp. - Andrew Kaip, BMO Capital Markets More >
"On ICG's Lamaque PEA, the base case yielded an IRR of 38%." (7/24/14) Integra Gold Corp. - Kevin MacKenzie, Salman Partners 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
"CMM is now fully financed to advance the Castle Mountain project." (7/11/14) Castle Mountain Mining Co. Ltd. - Tara Hassan, 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 >
"BAR is a development company that keeps adding numbers to the bottom line." (7/21/14) Balmoral Resources Ltd. - The Gold Report Interview with Byron King More >
"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 >