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Gold and Gold Stocks Rise on Chinese Downgrade, Debt Default Calamity

By  +Follow October 17, 2013 10:28AM
Tickers Mentioned:

Gold advanced for the fifth consecutive day in Thursday trading, with December futures jumping over three percent to $1,321.50 per ounce on the COMEX as the ripple effects of two weeks of shut-down government and the threat of national default continue to favor a traditional safe-haven role for the yellow metal.

One of those ripple effects during the day’s trading was the relative drop of the dollar, as speculation has taken hold that recent events will prompt the Federal Reserve to delay once more the inevitable winding-down of its $85 billion monthly quantitative easing program. The dollar has also been affected by the recently-ended Washington, D.C. calamity that caused one of China’s biggest credit-rating firms to downgrade the US from A to A-. It is well known that China has the largest holding of US treasuries of any nation.

David Wilson, a Citigroup Inc. (C) analyst in London said earlier in that day that "There was a knee-jerk reaction to the Chinese downgrading," and indeed estimates that 10 million ounces of gold, along with another 16 million of silver, traded immediately after the news was released.

In this climate, gold stocks of all sizes were in a celebratory mood and had rallied broadly to substantial gains shortly ahead of the closing bell. Major Canadian miners rose, including Barrick Gold (ABX) , up 5.60 percent to $18.61, Kinross Gold ($KGC) up 5 percent to $4.94, and Eldorado Gold (EGO) , up over 9 percent to $6.20.

US gold stocks were not left behind, with heavy trading sending Allied Nevada Gold (ANV) up 3.60 percent to $4.27, while Newmont Mining (NEM) jumped 5.30 percent to $27.25, and Royal Gold Inc. (RGLD) adding nearly 7 percent to $50.21.

Overall, speculation about a delay in the tapering of federal stimulus spending sent other precious metals higher, with silver futures for October delivery bumping up over 2 percent, nearing $22 per ounce.

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Results for RGLD
Javier Hasse
30 Nov 15 13:47:46
Barclays' Year-In-Review On #Gold $AEM $NEM $EGO $KGC $GG $AUY $FNV $SLW $RGLD https://t.co/eBeCpu3bGj via @benzinga #stocks #commodities
30 Nov 15 13:15:53
Barclays' Year-In-Review On #Gold $AEM $AUY $EGO $NEM $KGC $GG $RGLD $SLW https://t.co/R1GWofrJcL
China Invest
30 Nov 15 12:50:13
RT SeekingAlpha: Royal Gold's Exposure To Thompson Creek Is Not A Big Deal https://t.co/Vn7sso64LG $TC $RGLD
Long & Short Ideas
30 Nov 15 12:45:15
Royal Gold's Exposure To Thompson Creek Is Not A Big Deal https://t.co/5o7buDGP72 $TC $RGLD
Gold News
30 Nov 15 12:45:15
Royal Gold's Exposure To Thompson Creek Is Not A Big Deal https://t.co/DPyjqx35uE $TC $RGLD
Seeking Alpha
30 Nov 15 12:45:15
Royal Gold's Exposure To Thompson Creek Is Not A Big Deal https://t.co/3W5KXnXYHF $TC $RGLD
30 Nov 15 12:35:09
FOMX DD 4 investors.Read here: https://t.co/7yeFtYQQ00 $RGCO $RGEN $RGI $RGLD $RGLS $RGNX $RGR $RGRO
Consumer News
30 Nov 15 11:49:23
Royal Gold, Inc USA $RGLD Given Average Recommendation of “Buy” by Analysts https://t.co/q065jhlsSP #acn
Ticker Report
30 Nov 15 11:48:11
Royal Gold, Inc USA $RGLD Given Average Recommendation of “Buy” by Analysts https://t.co/fFjeuhcjMW
30 Nov 15 11:48:02
$RGLD: Royal Gold, Inc USA) (NASDAQ:RGLD) Given Average …: https://t.co/iZRhMzlfYI
Breaking News
30 Nov 15 11:46:16
$RGLD: Royal Gold Inc USA) – Get News & Ratings Daily: https://t.co/iwE37ZzWXj
US Banking News
30 Nov 15 11:45:12
Royal Gold, Inc USA $RGLD Given Average Recommendation of “Buy” by Analysts https://t.co/p4431NFzuv
30 Nov 15 04:18:02
$RGLD: Company Shares of Royal Gold, Inc. (NASDAQ:RGLD) Rally 0.31%: https://t.co/f9UAKOaMDD
Rosner Stocks
30 Nov 15 00:47:05
RGLD Royal Gold, Inc. Message Board Posts https://t.co/0W2g2myuaG $RGLD $CRS.V $UJO.L $LFAP #RGLD #pennystocks #tradeideas
30 Nov 15 00:46:33
REDD.L Redde Ask Size https://t.co/Ok50EJoV40 $REDD.L $HELE $RGLD $EWS #REDD.L #share #stockmarket
30 Nov 15 00:46:04
PIRS Pieris Pharmaceuticals Inc. Last Trade https://t.co/uhppmoe9UV $PIRS $LNC $LGND $RGLD #PIRS #share #share
30 Nov 15 00:42:34
JDST Direxion Daily Junior Gold Miners Index Bear 3X Shares Ask https://t.co/2G7AxQoCJs $JDST $PFE $RGLD $SBIN.IN #JDST #invest #invest
Sleek Money
29 Nov 15 22:20:57
Royal Gold, Inc USA Expected to Post Earnings of $0.23 Per Share $RGLD https://t.co/7Pw3SAZ2w1
US Banking News
29 Nov 15 22:16:33
Royal Gold, Inc USA Expected to Post Earnings of $0.23 Per Share $RGLD https://t.co/HUfb9QXvJ7
29 Nov 15 14:46:03
RGLD Royal Gold, Inc. News https://t.co/kHOOgq5IAt $RGLD $BLCM $NYMX $WMT #RGLD #invest #share
29 Nov 15 14:45:08
PG.TO Premier Gold Mines Ltd. Stock Forum https://t.co/eIRhX0ihAO $PG.TO $SBUX $RGLD $IBM #PG.TO #tradeideas #finance
Stock Forums
29 Nov 15 14:37:07
EDAP Edap Tms S.A. Investor Opinions https://t.co/a40yuNdJA3 $EDAP $LGND $OCLR $RGLD #EDAP #stocks #share
Penny Stocks Blog
29 Nov 15 10:54:48
RT @stock_forums: RGLD Royal Gold, Inc. Volume https://t.co/gofvlwZYJr $RGLD $SMN $NFLX $SMN #RGLD #stock #pennystocks
29 Nov 15 10:48:19
SQQQ ProShares UltraPro Short QQQ Ex-Div Date https://t.co/0IvV6WzsDB $SQQQ $AEO $RGLD $VRSZ #SQQQ #investing #tradeideas
Stock Forums
29 Nov 15 10:46:40
RGLD Royal Gold, Inc. Volume https://t.co/gofvlwZYJr $RGLD $SMN $NFLX $SMN #RGLD #stock #pennystocks
29 Nov 15 07:31:02
$RGLD: Wall Street analysts bullish on RGLD's earnings growth: https://t.co/XpF43Btktc https://t.co/McjaNHfwlW
29 Nov 15 05:52:08
XLV Health Care Select Sector SPDR Market Cap https://t.co/MgWjHFVDPs $XLV $STRZA $RGLD $EBAY #XLV #tradeideas #investing
29 Nov 15 05:46:07
SCIE Spectra Science Inc. Prev Close https://t.co/JfnmyL6mx9 $SCIE $EMB $RGLD $SD #SCIE #stock #stock
Lucky Jimmy
29 Nov 15 05:45:35
RGLD Royal Gold, Inc. Bid Size https://t.co/crSU8Xo75M $RGLD $CMG $NATI $TSLA #RGLD #share #stock
Investors Hangout
29 Nov 15 05:40:03
GOOG Alphabet Inc. - Class C EOD Data https://t.co/cZJeyLXlVn $GOOG $RGLD $UAN $FM.TO #GOOG #share #stockmarket
Stock Forums
29 Nov 15 05:33:18
AMZN https://t.co/6JSWIfy41E, Inc. 52Wk Low https://t.co/9hHuRVUv2o $AMZN $LUV $NUGT $RGLD #AMZN #tradeideas #share
IH News Desk
28 Nov 15 23:50:14
TRQ Turquoise Hill Resources Ltd. Short Sales https://t.co/ct7BnCUI9r $TRQ $GM $RGLD $ECH #TRQ #investing #stocks
28 Nov 15 23:41:10
HYG iShares iBoxx High Yield Corporate Bond Fund Exchange https://t.co/8tWFBivm2J $HYG $KORS $FB $RGLD #HYG #pennystocks #stock
Rosner Stocks
28 Nov 15 23:40:06
HMY Harmony Gold Mining Co. Ltd. Change https://t.co/dicM9a42ku $HMY $SBUX $MPWR $RGLD #HMY #finance #stockmarket
Lucky Jimmy
28 Nov 15 23:39:02
GM General Motors Co. Chart https://t.co/19Wn6KfcVo $GM $RGLD $EWQ $FDN #GM #tradeideas #finance
28 Nov 15 21:49:11
UUP PowerShares DB US Dollar Index Bullish Fund % Change https://t.co/9pSPMWmsVm $UUP $FSLR $X $RGLD #UUP #stockmarket #stockmarket
28 Nov 15 21:49:09
UUP PowerShares DB US Dollar Index Bullish Fund % Change https://t.co/26zY27p3GT $UUP $FSLR $X $RGLD #UUP #stockmarket #stockmarket
Rosner Stocks
28 Nov 15 21:48:03
TSN Tyson Foods Inc Cl A P/E Ratio https://t.co/ujudOZKWaW $TSN $GBSN $SUNE $RGLD #TSN #pennystocks #finance
28 Nov 15 21:45:32
RGLD Royal Gold, Inc. Shares https://t.co/FoFnxl5u98 $RGLD $ASNA $SGYP $VXX #RGLD #tradeideas #stock
28 Nov 15 21:44:18
MYEC MyECheck, Inc. Short Sales https://t.co/7Zq7XYXEix $MYEC $VRSN $RGLD $CSCO #MYEC #stockmarket #investing
Paul Henry
28 Nov 15 20:26:39
$MHRC has now gained 756.25% In The Past 2 Weeks! Huge News: https://t.co/fKslN0dN7c $SAND $EC $RGLD
Michael Cook
28 Nov 15 20:26:09
3,500% Gains On Stock Picks In 5 Months And An Amazing New Pick Is On The Way! Get It Early: https://t.co/GCmBVIIC8f $SAND $EC $RGLD
28 Nov 15 18:46:08
RGLD Royal Gold, Inc. Ex-Div Date https://t.co/ANCMNT1na9 $RGLD $EDZ $TNA $IBM #RGLD #investing #stocks
28 Nov 15 17:01:03
$RGLD: Wall Street analysts bullish on RGLD's earnings growth: https://t.co/XpF43Btktc https://t.co/gUI9B4eeZN
Lucky Jimmy
28 Nov 15 16:51:06
XHB SPDR S&P Homebuilders Index ETF P/E Ratio https://t.co/Qkm1JEJBuW $XHB $RGLD $CMG $GOV #XHB #stockmarket #invest
28 Nov 15 16:47:07
RGLD Royal Gold, Inc. Prev Close https://t.co/lYWBDsyWZ1 $RGLD $V $COH $FCG #RGLD #finance #stock
28 Nov 15 16:43:32
IWM Russell 2000 iShares 52Wk High https://t.co/nAxVk213x6 $IWM $RGLD $^GCZ15 $AMRN #IWM #tradeideas #nasdaq
28 Nov 15 16:40:04
FIT Fitbit, Inc. Ex-Div Date https://t.co/yn1tIxQxcJ $FIT $RGLD $SBUX $FB #FIT #stockmarket #stocks
Investors Hangout
28 Nov 15 16:39:36
ERY Direxion Daily Energy Bear 3x Shares Change https://t.co/jLUXdYGimN $ERY $RGLD $OTC.TO $RTH #ERY #pennystocks #investing
28 Nov 15 16:37:02
DBC DB Commodities Tracking Index Fund Ask Size https://t.co/ZMJN43QuHt $DBC $NWBO $NEM $RGLD #DBC #nasdaq #stockmarket
By  +Follow October 17, 2013 10:28AM



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