Filed under: Major Movement , Competitive Strategy , Barrick Gold (ABX) , Commodities , Federal Reserve Back in the late 1970s, the Hunt brothers from Texas tried to corner the silver market . That drove prices to $48 an ounce. Now, 31 years later, silver is shooting higher again. The March silver futures contract closed at $32.296 per ounce , up 72 cents. Since gold is expensive, investors are turning to silver to hedge against inflation. Many fear that the Federal Reserve will not be able to control the spike in commodity prices. The Fed is buying $600 billion of treasuries and keeping interest rates near zero. Continue reading Silver Near a 31-Year High Silver Near a 31-Year High originally appeared on BloggingStocks on Sat, 19 Feb 2011 12:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments
Northgate Minerals
Exeter (AMEX:XRA), Gammon (NYSE:GRS), Nevsun (AMEX:NSU), Northgate Minerals (AMEX:NXG) Soar on China Gold Imports
Gold prices today were soaring before noon as news from the Shanghai Gold Exchange that China had acquired 209 metric tons of the yellow metal through October caused gold miners like Exeter (AMEX:XRA), Gammon (NYSE:GRS), Nevsun (AMEX:NSU) and Northgate Minerals (AMEX:NXG) soar in share price.To contrast this, China only acquired 45 tons of gold for all of 2009, showing they are protecting their
Northgate Minerals (NYSE:NXG) Retains "Buy" Rating from Canaccord
Northgate Minerals (NYSE:NXG) had its “Buy” rating maintained on them by Canaccord Genuity, even though weaker ore grades had caused third-quarter results to be disappointing. “We reiterate our recommendation on Northgate based on relative valuation, superior leverage to higher gold prices, potential reserve/resource upside particularly at Young Davidson, Fosterville and Stawell and the
Jaguar Mining (NYSE:JAG) Struggles on Controlling Costs
An interesting story is emerging as gold miners release their earnings. This quarter there seems to be the haves and have nots, and the have nots, like Jaguar Mining (NYSE:JAG), who recorded a loss in the latest quarter, are going to get punished by investors because of the high expectations accompanying record high gold prices. The thinking seems to be if a gold miner can’t make it at these
Northgate Minerals (AMEX:NXG) Crushed on Costs, Production
You know a gold miner is in trouble when they can’t produce in the type of rising gold price environment we’ve been in, and that doesn’t bode well for Northgate Minerals (AMEX:NXG) (TSE:NGX), which did just that in the latest quarter. Higher gold prices couldn’t overcome the production problems at two of the company’s mines, or the rising costs associated with them. Their Kemess mine in British
Seabridge Gold (AMEX:SA), Northgate Minerals (AMEX:NXG), Jaguar Mining (NYSE:JAG) Strong on Gold Prices Surging
Seabridge Gold (TSE:SEA)(AMEX:SA), Northgate Minerals (TSE:NGX)(AMEX:NXG), Jaguar Mining (TSE:JAG)(NYSE:JAG) are all moving up with the price of gold today, as are most gold mining stocks, as a slow but steady positive move continues for gold, which has been in positive territory for the sixth day in a row. Northgate has flirted around $3.00 a share today, although it’s standing at $2.99 at
Northgate (AMEX:NGX) Launching Construction at Young-Davidson Mine
Northgate Minerals Corp. (AMEX:NGX) (TSE:NGX) said they’ve received approval from regulators to start development on the Young-Davidson gold mine in northern Ontario. Construction is scheduled to being in the early part of August, with the main process building being the first structure to go up.Reserve at the mining project are estimated to be about 2.8 million ounces, although additional
