Gold Miners Happy Price Taps at $1,300 oz

Gold Miners Happy Price Taps at $1,300 oz


Miners see Gold prices moving higher in 2019

December’s holiday cheer is carrying into Y 2019 for Gold-mining companies.

A gauge of mining shares is extending gains after its best December since the financial crisis as investors flee to safe-haven assets amid a slump in the broader equities market and a US government shutdown.

The BI Global Senior Gold Valuation Peers jumped as much as 1.6% last Thursday to the highest since May, with bullion set for a 6th straight advance.

The precious Yellow metal is in demand due to the fact that almost everyone is looking for safe-haven assets.

Gold miners are happy all the way because the sector has become more attractive.

Volatility in equities, concern about a broadening US-China trade conflict and a softening USD have underpinned a rally in bullion.

The trade showdown is starting to have an impact on economic activity, after Apple (NASDAQ:AAPL) issued a warning on its outlook and factory data weakened.

Bullion for immediate delivery rose 0.4% to $1,289.60 oz in New York, after touching the highest since mid-June.

In December, the BI miners index jumped 12%, the most for that month since Y 2008.

Harmony Gold Mining Co. and AngloGold Ashanti Ltd. paced gains Thursday.

Investors seeking havens have also been buying Silver. The Devil’s metal touched the highest since July Thursday.

Looks like Silver has gained momentum because of Gold.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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