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Daily Gold Market Report
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Live London Gold News Wire
15 to 30 minutes old
www.usagold.com --LIVE NEWS--
Iran Gets Back 13 Tonnes of Gold in Sanction Relief21:07
The New Indian Express - Business
1 to 2 hours old
www.usagold.com --LIVE NEWS--
Gold rush sweeps north Niger19:45
Yahoo! New Zealand - Business
Gold rush sweeps north Niger19:42
The West Australian - Business - World
2 to 4 hours old
www.usagold.com --LIVE NEWS--
Sizing Up Europe Stocks, Junk Bonds, and Gold19:24
Barron's Online - Funds
Gold holds two-day drop before US jobs report; palladium rises19:02
Business Times Online - Energy & Commodities
Gold Holds Two-Day Drop Before U.S. Jobs Report; Palladium Rises18:58
Bloomberg - Gold
Picosun and Carleton Strike Gold with ALD18:23
PR Newswire (Press Release) - Business Technology
Gold and AUDJPY Sell Signals18:19
FXstreet - Exclusive Reports
Gold weaker in Asia as markets look ahead to Greek bailout referendum17:25
Investing.com - Commodities
4 to 6 hours old
www.usagold.com --LIVE NEWS--
Barrick’s Cyanide Breakthrough on Gold Solves Puzzle17:07
Bloomberg - Gold
Gold And Silver Price: Monthly And Quarterly Ending Analysis16:45
Gold Silver Worlds
Gold falls as greenback strengthens16:34
Business News
Gold slides on first day of Financial Year 201616:29
Proactive Investors (Australia)
Gold - Greece having only a minor impact, "difficult to see ... a more notable reaction"16:10
ForexLive.com
Greece default: Why isn’t gold budging?15:53
CNBC.com - Europe
S Africa gold miners face tough pay talks15:43
FT.com - Africa
What If Gold Is Declared Illegal?15:42
Zero Hedge
6 to 8 hours old
www.usagold.com --LIVE NEWS--
Gold drops on strong dollar, revived hopes for Greece15:07
The Economic Times - Market
Forest Rock Garden Resort A’pura grabs gold in Paris14:52
Lakehouse Daily News - Business
Gold around four-week low on strong dollar14:40
Gulf Today - Business
World’s best gold forecaster is solidly bearish on bullion14:28
The Globe and Mail
Peru mining output rises on copper, gold, lead output gains14:16
Business News Americas - Mining
Gold Stocks Break Below 2008 Low13:58
The Market Oracle - The Market Oracle
Continental finds more gold at Buriticá13:58
Mining Journal
AMEC honours Gold Road, Mineral Resources13:58
Mining Journal
Melrose lands at copper-focused Gold Reach13:58
Mining Journal
Zacks Upgrades Harmony Gold Mining to “Hold” (HMY)13:57
Ticker Report - Banking
Barrick Gold (ABX) Stock Falling as Gold Futures Settle in the Red13:56
TheStreet.com
Gold, silver slip in face of US manufacturing strength13:56
Business News Americas - Metals
Futures Speculators Too Bullish On Gold13:50
Investing.com - Commodities
Earlier Today
www.usagold.com --LIVE NEWS--
Goldcorp (GG) Stock Down on Lower Gold Prices13:19
TheStreet.com - Markets
Over 4Moz of LatAm gold output to come online by 201813:05
Business News Americas - Mining
Kinross Gold (KGC) Stock Retreating as Gold Prices Fall12:56
TheStreet.com
Mexico's gold exports pass US$1bn12:55
Business News Americas - Metals
There’s a huge disparity between how regulators deal with gold and stock market manipulation12:51
Mining.com
What are Mexico's lowest cost gold mines?12:45
Business News Americas - Mining
Buying Gold Helps in a Crisis like Greece12:41
Money Morning
Gold dips to lows near $1,17012:09
FXstreet
Central Rand Gold eyes Asian investors12:06
IOL - Business - Companies
Jeb Handwerger: Fed Interest Rate Increase Could Be Best Thing To Happen To Gold11:51
Seeking Alpha - All Articles
Gold & Silver Trading Alert: Gold Stocks Break Below 2008 Low11:20
FXstreet - Latest Analysis
Greek default fails to boost gold11:16
Business Day - Markets
Gold continues slide ahead of U.S. jobs report, Greek referendum11:14
Investing.com - Commodities
Gold & Silver Trading Alert: Gold Stocks Break Below 2008 Low11:08
Gold-Eagle
Lakewood-based Pershing Gold to be listed on Nasdaq starting July 611:02
Denver Post, Colorado
Former US Mint Director Clueless On Gold In Fort Knox10:53
GoldSeek.com
Gold & Silver Trading Alert: Gold Stocks Break Below 2008 Low10:43
GoldSeek.com
China Nonferrous Gold Limited insider Sells £364 in Stock (CNG)10:24
Ticker Report - Banking
Gold Forecast: Gold Fails Despite Global Turmoil09:58
Gold-Eagle
Gold And Silver - Monthly, Quarterly Ending Analysis09:57
The Market Oracle - The Market Oracle

Note: I will be out of the office from June 29 through July 6. Consequently this page may not be updated. See the Daily Blog for updates.

Gold Consolidates Amid Hope for Last-Minute Greek Deal

by Peter A. Grant

June 26, AM
(from USAGOLD.com) --

Gold eked out a new low for the week in early New York trading, but quickly rebounded intraday. The yellow metal remains well contained within the recent range as the market awaits an outcome on the Greek crisis.

Greece was offered a €15 bln deal earlier today that would have kicked the can until November. However, the offer was quickly rejected by Greek PM Tsipras, who categorized it as "blackmail".

Earlier in the week German chancellor Merkel declared that she would not allow Greece to blackmail Germany. She went on to warn that if a deal is not struck before markets open on Monday, capital controls would be likely in Greece and default would be increasingly likely.

The rhetoric is certainly not reflective of negotiations that are achieving any kind of success. Nonetheless, markets seem to be holding out hope for a last-minute deal, as we've seen numerous times in the past.

After all, the policymakers and technocrats of Europe have summer holidays to plan. A Greek default will ruin the rest of summer! So, they have to kick the can beyond August at a minimum.

The Chinese stock market tanked on Friday, dropping 7.4%. It was the biggest one-day point drop in 7-years. That puts the Shanghai composite index down 19% from its mid-June peak. The swing from raging bull market, to the cusp of a bear market, has taken just 2-weeks.

As noted on this page in recent months, we've seen a lot of clients buying gold with funds they've taken out of the stock market. They have expressed concerns that shares are overvalued and they are taking money off that table and bolstering their hedge positions. They typically view gold as being undervalued at these levels.

Apparently the same thing is happening in China. Chinese imports of the yellow metal via Hong Kong surged 36% in May.
"We think investors are becoming increasingly worried about a more pronounced correction in China's stock market and will return to gold to diversify their portfolios." — Simona Gambarini, commodities economist at Capital Economics via CNBC
The heightened volatility in Chinese stocks seen in June is likely to help underpin gold, driving safe-haven demand. Continued uncertainty about Greece, even if some sort of agreement is reached, should also be supportive.

The time to own your safe-haven is before you actually need it. The May surge in Chinese gold imports suggest some Chinese investors were ahead of the curve. Certainly some of our clients have been ahead of the curve as well.

Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

 

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Bullion-related historic gold coins
A hedge within a hedge

Our recommended vintage gold coins track the gold price, compare favorably in price, size and weight to fractional modern bullion coins, offer potential for premium growth and enjoy strong global liquidity. Over the years we have placed hundreds of thousands of these negotiable items with privacy-minded investors – a hedge within a hedge and an important inclusion in the well-balanced physical gold portfolio.

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