Gold and silver shares continued their recent march higher on Friday

Gold and silver shares continued their recent march higher on Friday, as the Philadelphia Gold & Silver Index (XAU) rose 1.7% to 203.36 in early afternoon trading.

Among gold mining companies, Harmony Gold (HMY) climbed 3.1% to $12.18 per share and Yamana Gold (AUY) rose 3.0% to $17.57 per share.  Silver Wheaton (SLW) and Silver Standard Resources (SSRI), two of the most widely-held silver stocks, advanced 3.3% and 5.4%, respectively.

Read More »

The gold price held firm near $1,720 per ounce Friday morning

The gold price held firm near $1,720 per ounce Friday morning after fourth quarter U.S. GDP growth came in at 2.8%, below the 3.0% consensus estimate among economists.  The price of gold hovered in a tight range between $1,718 and $1,728 in overnight trading, while the U.S. dollar stabilized against many of the world’s leading currencies.  Silver held near unchanged at $33.60 alongside the gold price, while U.S. equity markets opened modestly lower following the disappointing GDP report.

Read More »

Pan American (PAAS) Minefinders (MFN) Agree to C$1.5B Deal

Pan American Argent (PAAS) and Minefinders (MFL.TSX, AMEX: MFN) appear that they entered into a absolute acceding whereby Pan American will access Minefinders for C$15.60 per share, or about for C$1.5 billion. The action amount represents a 36% exceptional to aftermost Friday’s closing amount for MFL.TSX of C$11.50 per share.
Read More »