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Tag: Gold Price

See below for the latest article regarding the Gold Price.

gold price silver copper oil

Midway through the week, it appeared as though gold prices were on the way to a recovery, but by Thursday the yellow metal was trending downwards again.

On Friday, the Economic Calendar noted that an emerging US dollar was putting pressure on gold prices. The publication also noted the dollar has reached its highest level in 13 years. The dollar index, which measures the US currency, rose 0.5 percent to 101.55.

That being said, MarketWatch reported that the precious metal will likely record its fifth weekly loss in a row–the lowest result in 10 months–as the Federal Reserve meeting fast approaches.

As of 1:26 p.m. EST on Friday, the gold price was $1,160.40 per ounce–a 1.14 percent drop over the five-day period.

Looking over to the silver price, the white metal had a bit of an interesting week, skyrocketing to $17.18 per ounce on Wednesday.  The precious metal dropped off after that, however, falling to $16.86 per ounce as of 1:38 p.m. EST on Friday.

According to the Economic Calendar,  although the white metal plunged on Friday, it is still on pace for its first weekly gain predating the US election.


On the base metals side, the copper price  nose-dived midway through the week, falling to $2.62 per pound on Wednesday. However, the red metal made a recovery late in the week, rising to $2.65 per pound as of 1:40 p.m. EST on Friday.

Although the copper price made a slight recovery over the week, Daily FX  noted it failed to "make new highs."

"While today’s upswing in price has brought the commodity back into positive territory for the week, the commodity is still considered to be technically consolidating on the daily chart," the publication said.

Lastly, spot oil prices had another huge week, with a minor blip partway through before rallying in the latter half.  On Friday, the Wall Street Journal reported that the price firmed in anticipation of a meeting behind held over the weekend between oil-producing countries to cut production.

As of 1:50 p.m. EST on Friday, oil prices were $51.46 per barrel–a 13.52 percent increase over the five-day period.

Don’t forget to follow us @INN_Resource for real-time news updates.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

This article is updated each week. Please scroll to the top for the most recent information.

Weekly Round-Up: Oil Notches Biggest Weekly Gain Since 2009

This week, gold prices were on the downward trend again. As November came to a close mid-week, the yellow metal officially recorded its worst monthly loss since June 2013, MarketWatch reported.

By Friday, the gold price appeared to be making a slight recovery supported by a correction in the US dollar, which had reached a 13-year high the week before.

Although the yellow metal was making gains early Friday, it still netted a 1.21 percent loss over the five-day period. As of 1:03 p.m. EST on Friday, the gold price was $1,175.29 per ounce.

Looking over to its sister metal, the silver price had a bit of a rollercoaster week, and the Economic Calendar noted the white meal was "on the defensive" before the US open.

That being said, while the silver price was a low $16.34 per ounce early Friday, it rose sharply to $16.75 per ounce as of 1:18 p.m. EST, rising 1.15 percent over the five-day period.


On the base metals sector, the copper price rose sharply early in the week from $2.57 per pound to $2.64 per pound. As the week went on, the copper price tapered off slightly to $2.62 per pound as of 1:30 p.m. EST on Friday.

Midweek, and as November came to a close, Bloomberg noted that copper's gains over the month resulted in its strongest month in over a decade.  The publication reported that the price increase was in part a result of traders in China.

Lastly, spot oil prices made huge gains over the week. Oil soared 9.53 percent over the five-day period, pushing over the $50 mark to $51.37 per barrel as of 1:40 p.m. EST on Friday.

CNBC reported that the oil price stabilized on OPEC's decision to ax crude output, noting the price soared to its biggest weekly gain since 2009. The publication also said crude prices were under pressure as data indicated oil output in Russia was on the rise during the month of November.

Don’t forget to follow us @INN_Resource for real-time news updates.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

Related reading: 

Weekly Round-Up: Gold Price Falls to 9-Month Lows

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Weekly Round-Up: Gold Price Tumbles to Six-Month Low

Weekly Round-Up: Gold Price Soars on US Election Fears

Weekly Round-Up: Gold Price Booms on US Data

Weekly Round-Up: Foreign Demand Bumps Up Gold Prices


Angkor Gold Announces Agreement to Buyback 2.5% NSR on Phum Syarung Mine

Angkor Gold Announces Agreement to Buyback 2.5% NSR on Phum Syarung Mine

As previously announced on May 2, 2014 (, the Company sold Net Smelter Return (“NSR”) interests for an aggregate of 2.5% of the Company’s 7.5% NSR to come from Mesco Gold (Cambodia) Ltd. (“Mesco”) on Mesco’s Phum Syarung mine located in northeastern Cambodia. The sale of the NSR interests raised

Rockcliff Expands Size of Talbot Deposit-North Lens

Rockcliff Copper Corporation (TSX VENTURE:RCU)(FRANKFURT:RO0)(WKN:A142TR) is pleased to announce additional drill hole assay results from its phase 2 drill program on the Talbot Property, Manitoba. Drill holes TB-013 and 14 have extended the strike length of the high grade, gold-rich, Talbot copper deposit a total distance of 175m north of

Gold Miners to Hike Investment in 2017

Gold Miners to Hike Investment in 2017

As gold miners’ profitability is strongly tied to the gold price, this has resulted in the industry generating significantly stronger cash flows and earnings, boosting their credit quality, Moody’s Investors Service says.

Scorpio Gold Reports Financial Results for Third Quarter of 2016

 Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV:SGN) is pleased to announce its financial results for the third quarter ended September 30, 2016 (“Q3”). This press release should be read in conjunction with the Company’s condensed interim consolidated financial statements for Q3 of 2016 and Management Discussion & Analysis

Cornerstone Capital Resources Cascabel Exploration Update: Hole 18 Intersecting Copper Mineralization

Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSX VENTURE:CGP)(FRANKFURT:GWN)(BERLIN:GWN)(OTCBB:CTNXF) announces the following project update for the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15% interest financed through to completion of a feasibility study. SolGold Plc is funding 100% of the

Frank Holmes Sees Peak Gold in 2017

Frank Holmes Sees Peak Gold in 2017

Mining Journal’s Best Americas Based Fund Manager tells us about the four-year gold cycle, the current correction phase, the Trump impact on the economy and where gold will be in 2017.

a big day for biotech

The S&P/TSX Composite index (INDEXTSI:OSPTX) was on the rise last week, gaining 0.26 percent to close the five-day period with 14,864.03 points.

On Thursday, CTV News reported that the index rising was helped by the energy sector making gains although the oil price was down.

Companies that registered the highest gains over the five-day period included:

  • Scandium International Mining (TSX:SCY)
  • Treasury Metals (TSX:TML)
  • Largo Resources (TSX:LGOLGC)
  • TMAC Resources (TSX:TMR)
  • Osisko Gold (TSX:OR)

Here is a closer look at those companies:


Scandium International Mining

First on the list is Scandium International Mining, who owns an 80 percent interest in the Nyngan Scandium Project in Australia. In May 2016, the company completed a feasibility study and is now focused on bringing the project to construction. On November 16, Scandium International announced the receipt of US$474,000 tax incentive refund in relation to costs incurred for the year-ended June 30, 2016.

Last week, shares of the company increased 62.5 percent to reach $0.26.

Treasury Metals

Treasury Metals is a gold exploration and development company, focused on its projects in Ontario. On November 11, the company announced initial results from phase 1 of the ongoing drilling program on its 100 percent owned Goliath Gold Project.

Shares of Treasury Metals increased 17.54 percent last week to reach $0.67.

Largo Resources

Middle of the pack on last week's top gaining TSX stocks is Largo Resources, the only pure play producer of vanadium. On November 16, the company announced the signing of a non-binding term sheet for 2017 debt facilities.

Over the five-day period, shares of Largo Resources increased 17.5 percent to close the week at $0.47.


TMAC Resources

TMAC Resources holds 100 percent interest in the Hope Bay Project in Nunavut, Canada, and hopes to be Canada's next major gold mining camp.

The company's shares increased 9.27 percent last week to reach $17.10. Despite the boost in share price, TMAC Resources did not have any news on its gains.

Osisko Gold

Last but not least on the 5 top gaining TSX stocks is Osisko Gold, whose shares made a slight increase of 5.24 percent to finish the week off at $13.26. The company notes it is an intermediate precious metal royalty company, focused on activities in the Americas commenced in June 2014.

Don't forget to follow @INN_Resource for real-time news updates! 

Data for 5 Top TSX Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.


Related reading:

5 Top TSX Stocks: Northern Dynasty Minerals Gains 77 Percent

5 Top TSX Stocks: Exchange Falls to Lowest Close in Six Weeks

5 Top TSX Stocks: Exchange Drops on Lower Oil Prices

5 Top TSX Stocks: Exchange Dips on Chinese Inflation Data

5 Top TSX Stocks: Exchange Drops on Jobs Figures

5 Top TSX Stocks: Exchange Increases on Higher Oil Prices

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