Streetwise Articles
Gold Gains As The Dollar Dips
Source: TheStreet.com (12/8/06)
According to TheStreet.com, gold was moving higher Friday, after seemingly favorable economic news failed to support the greenback.
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The Most Important Number In The World
Source: Doug Casey, International Speculator (12/8/06)
According to Doug Casey, International Speculator, ...this time, for reasons explained, inflation will trigger a monetary crisis the likes of which few living today have experienced.
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ML Downgrades Mega-Miners But Positive On Gold And Silver
Source: Mineweb.net (12/8/06)
According to Mineweb.net, Merrill Lynch forecasts a $675/oz spot gold price in 2007 “due to a rebound in fabrication demand for bullion, lower central bank sales, and continued growth in investment demand.”
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Gold Mining Has To Overcome Rampant Capital And Operating Cost Inflation
Source: Mineweb.net (12/7/06)
According to Mineweb.net, BMO Capital Markets precious metals analysts suggested Wednesday that the major hurdle the gold mining industry has to overcome in the near to medium term “is rampant capital and operating cost inflation.”
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Gold Mining Has To Overcome Rampant Capital And Operating Cost Inflation
Source: Mineweb.net (12/7/06)
According to Mineweb.net, BMO Capital Markets precious metals analysts suggested Wednesday that the major hurdle the gold mining industry has to overcome in the near to medium term “is rampant capital and operating cost inflation.”
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Gurus Go For Gold
Source: Forbes.com (12/6/06)
According to Forbes.com, Gold bullion just hit a three-month high and now trades at $649.60, up 26% over the past year.
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Silver Hits 6-Month High As Gold Struggles To Advance
Source: Reuters (12/5/06)
According to Reuters, silver hit a new six-month high on Tuesday as investors poured in money on expectations that thin liquidity and growing interest in an exchange-traded fund might push prices to further peaks.
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Chinese Gold Consumption To Grow 17% This Year
Source: AP (12/5/06)
According to the AP,...Some economists have been lobbying for China to invest more of its foreign exchange reserves, now thought to top a record $1-trillion, in gold to hedge against a weaker U.S. dollar.
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Gold Marches On Towards $700 Again
Source: Mineweb.com (12/3/06)
According to Mineweb.com, most recently the metal has been trading between $630 and $650 – nearer the latter for most of the period – and it seems like the next break-out up to around perhaps $675 to $680 could well be on the cards within days.
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Gold Hits 16-Week High
Source: Financial Times.com (12/1/06)
According to the Financial Times.com, traders are looking at gold to test the key resistance level of $650, if gold does break through this level - it could trigger another strong upward move.
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Gold Rallies On Jobs News
Source: The Street.com (11/30/06)
According to The Street.com, gold prices were surging again Thursday, as the dollar slid on news of an unexpectedly large jump in U.S. jobless claims.
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Gold And Those Who Mine It Gain As The Dollar Lags
Source: AP (11/30/06)
According to the AP,gold and shares of gold miners shone Thursday as the dollar continued to weaken amid concerns about the U.S. economy, boosting the appeal of so-called safe havens like gold.
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Toronto Gold Stocks Shine As Bullion Rallies
Source: Reuters (11/30/06)
According to Reuters, shares of gold miners on the Toronto Stock Exchange surged almost 5 percent on Thursday amid a rally in bullion prices, extending their gains over the past 12 months to more than 50 percent.
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North American Mid-Tier Gold Mining Sector Shrinking
Source: Mineweb.com (11/29/06)
According to Mineweb.com, Precious Metals Research Analysts from Merrill Lynch noted..."One consequence of the shrinking number of North American mid-tier gold producers "is a potential expansion of valuation multiples for the remaining mid-tier producers (which is already occuring)...
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Gold Tops $640
Source: Reuters (11/27/06)
According to Reuters,cash gold rose above $640 an ounce on Monday to its highest level since August as investment funds bought the precious metal as an alternative to the slumping dollar, which slipped to a 20-month low against the euro.
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Gold Rises To 11-Week High in N.Y. On Dollar Drop Against Euro
Source: Bloomberg.com (11/27/06)
According to Bloomberg.com, gold in New York rose to an 11-week high after a decline in the value of the dollar against the euro boosted the metal's appeal as an alternative investment.
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Junior Mining Exploration Indexes introduced
Source: Mineweb.com (11/27/06)
According to Mineweb.com, Canadian securities dealer Haywood Securities has unveiled its Junior Exploration Index (HJEI) which will track 26 junior mining companies specifically chosen for their discovery potential.
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Gold Gains As Rebound In Crude Oil Boosts Inflation Concern
Source: Bloomberg.com (11/21/06)
According to Bloomberg.com, gold in New York rose as a gain in crude-oil prices boosted the appeal of the precious metal as a hedge against inflation.
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China Plans To Open Gold Markets, Facilitate Gold Trade
Source: Mineweb.com (11/17/06)
According to Mineweb.com, the chairman of the China Gold Association said the nation will fully open its gold market on a gradual basis to foreign investors, and work to facilitate future gold trade.
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Dollar Breakdown to Ignite Gold Market
Source: SeekingAlpha.com (11/17/06)
According to SeekingAlpha.com, traditionally, the demise of the dollar is what sends investors scurrying for an asset class that will retain its value even in the face of rampant inflation.
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Price Stability Drives Recovery In Q3 Gold Demand
Source: World Gold Council (11/15/06)
According to the World Gold Council, the gold price in the third quarter 2006 was, on average, 41% higher than in the same period for 2005.
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Gold Prices Climb In New York
Source: Bloomberg.com (11/14/06)
According to Bloomberg.com, gold prices in New York gained on speculation a decline in the value of the dollar will boost the metal's appeal as an alternative investment.
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Gold Will Top $850 Says Newmont's Murdy
Source: miningmx.com (11/14/06)
In a recent interview with miningmx.com, Wayne Murdy, CEO of the world's number two gold miner, Newmont, said that the gold price will top its historic 1980 high of $850/oz in coming years.
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Mining and the Markets
Source: International Speculator, Doug Casey (11/14/06)
Even though the natural resource bull market is now in full swing, the lumpeninvestoriat still hasn’t caught on to this trend. Doug Casey explains why you should jump on the resource train before everybody else does…
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Apparent World Gold Supply Down 17 Percent
Source: Mineweb.com (11/9/06)
According to Mineweb.com, the gold supply represented by mining production and hedging fell 17% year-on-year in the first half of the year as miners failed to increase tangible gold production, sold less gold forward, and closed out existing hedge positions.
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