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
"ROG's PEA projects a low cash cost of $455/oz and a 47.7% IRR." (3/5/14) Roxgold Inc. - The Gold Report Interview with Ron Struthers More >
"BAR's drill results from Grasset attest to the area's underexplored nature and polymetallic potential." (3/5/14) Balmoral Resources Ltd. - Eric Lemieux, Laurentian Bank Securities More >
"TGM has demonstrated a 100% success rate at five new Karma targets." (3/4/14) True Gold Mining Inc. - Tara Hassan, Haywood Securities More >
"GUY will continue to be an excellent stock to own." (3/4/14) Guyana Goldfields Inc. - Ben Kramer-Miller, Wall St. Cheat Sheet More >
"We continue to favor accumulating shares of KDX." (3/3/14) Klondex Mines Ltd. - Philip Ker, PI Financial 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
"ATY has a proven management team, high grades and expansion potential." (3/3/14) Atico Mining Corp. - Erik Bermel, M Partners More >
"ICG's Lamaque has all the qualities to become Val d'Or's next gold mine." (2/25/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"We expect KDX's Fire Creek PEA to confirm very robust economics." (2/28/14) Klondex Mines Ltd. - Erik Bermel, M Partners More >
"The results from CFO's Duparquet project are pretty encouraging." (2/26/14) Clifton Star Resources Inc. - The Gold Report Interview with Michael Fowler More >
"RIC's 2013 production was above its guidance and our forecast." (2/21/14) Richmont Mines Inc. - Adam Melnyk, Desjardins Securities More >