logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

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

By  +Follow October 17, 2013 10:28AM
Share:
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.

Results for RGLD
Fin_Vestor
22 Apr 14 21:06:04
$RGLD How to Succeed In Business Even If You're Canadian http://t.co/hYecF8pYZv
Fin_Vestor
22 Apr 14 20:17:08
$RGLD Valeant would be No. 1 Canadian firm by market cap with Botox deal http://t.co/zl3eOrFXuK
Jama Dahl
22 Apr 14 19:30:24
Stocks to Watch this week $MNK $DD $RGLD $DO #personalfinance http://t.co/L46MrkYkqc
Esau Braxton
22 Apr 14 18:49:19
Small-cap stocks making 52-wk highs $GD $ALR $RGLD $DUST View now http://t.co/PXgeo3bCEO
Ford Cadwell
22 Apr 14 17:38:21
Should you hold or add to $ETR $CTL $RGLD $GOOG #StockMarket http://t.co/lPvscgvHFI
Tressie Fortenberry
22 Apr 14 15:34:04
$HOLX Seeking the next hot #pennystock $RGLD $DIS $FXY #investing http://t.co/l779okndNt
Octavio Van
22 Apr 14 13:53:33
Todays Stocks you should be watching $AGNC $DISCA $RGLD $NUAN #singedinvestor http://t.co/Z9pIGt40k3
Miller Bailey
22 Apr 14 10:12:20
Are you looking for winners like $FTNT $CNX $RGLD $FB #economy http://t.co/VWLs5fdHNx
Media Sentiment
22 Apr 14 10:04:45
$RGLD received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 415
Market Int Center
22 Apr 14 10:04:38
Royal Gold $RGLD Showing Bearish Technicals With Support At $61.06 ( http://t.co/LWCNzCgNmI )
Luther Black
22 Apr 14 10:02:30
Dont want to lose like you did with $SCHW $RGLD $VRSN $CSIQ #personalfinance http://t.co/D3ASFiAOGO
Milford Schwarz
22 Apr 14 07:15:06
Todays movers to research $TRW $RGLD $CAM $BWP #wealthmanagement http://t.co/xMwP67pP1N
Babara Blodgett
22 Apr 14 05:12:39
Buy or sell? $TKR $CTL $RGLD $YOD #Stock http://t.co/tZWyelaQKa
Octavio Van
22 Apr 14 05:06:20
5 Stocks you should be watching $TE $RGLD $PSX $LGND #financial http://t.co/hSuHqMhV0F
Fin_Vestor
22 Apr 14 03:01:05
$RGLD Martin County Community Calendar, updated April 22 http://t.co/jZ5pvsAPm3
Orson Jagger
22 Apr 14 02:58:47
Latest Earnings info on $BEN $SIAL $RGLD $SSO #liquidity http://t.co/wFZgMx2E79
Fin_Vestor
22 Apr 14 01:19:04
$RGLD European Stocks Rise After Holiday as Yen, Nickel Climb http://t.co/RMLWkR1FEY
Stockaholics
22 Apr 14 01:08:53
Members saw 5,000% gains on Penny Stock Alert's in 4 months! Subscribe Today: http://t.co/5B5saivZk0 $SAND $EC $RGLD
JD Dollar
21 Apr 14 18:51:42
Looking for the next $RGLD $NSC $WTR $S #newsletter http://t.co/3NzGVnx0qi
Jeraldine Ison
21 Apr 14 17:45:45
Bad #Invesments like got you down $COG $GPC $RGLD $QLYS #wealthmanagement http://t.co/5RjzZKOt4i
Boaz Boulstridge
21 Apr 14 15:43:26
Todays movers to research $RGLD $NSR $RRC $USD #StockMarket http://t.co/F6B1WO9Mj6
Milford Schwarz
21 Apr 14 15:26:53
Whats going on with $PNC $MOS $RGLD $IBM Try this http://t.co/c2955Cgb93
Media Sentiment
21 Apr 14 13:54:23
$RGLD received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 724
Media Sentiment
21 Apr 14 13:53:42
$RGLD received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 716
Market Int Center
21 Apr 14 13:49:59
Royal Gold $RGLD Showing Bearish Technicals ( http://t.co/Sp3RMJsB6p )
Laci Jack
21 Apr 14 13:39:05
Are you Bullish on these #stocks $RGLD $MYL $XRAY $ISRG Give it a try http://t.co/6sShR9Jtkm
Louie O'Malley
21 Apr 14 10:51:02
Are you Investing in $RGLD $DPZ $ANF $GAIN I suggest http://t.co/gj7jHNPk5X
Miller Bailey
21 Apr 14 09:46:26
5 Stocks you should be watching $TRZA $NWSA $RGLD $CADX Must have http://t.co/roUxrjGlUW
Thor Edeson
21 Apr 14 09:44:58
#Stocks you might want to buy $RGLD $PLD $SWN $GOOG I suggest http://t.co/Cs5enuHLnx
Offshorehunter
21 Apr 14 09:18:27
$RGLD $PAAS $GOLD $DSLV daily charts http://t.co/Z2ajA1qQVZ
Fausto Tilley
21 Apr 14 05:26:44
Find out the latest on $ARG $NE $RGLD $NUAN #singedinvestor http://t.co/kFk1YCyPBv
Adria Mosley
21 Apr 14 02:10:11
#Stock Market Reports on stocks like $RGLD $LPNT $MBI $GOOG #personalfinance http://t.co/luUhaKTNL9
Fin_Vestor
21 Apr 14 01:20:43
$RGLD Long live the Queen! Elizabeth turns 88 http://t.co/TZVrh40JOM
Fin_Vestor
20 Apr 14 23:57:33
$RGLD Long live the Queen! Elizabeth turns 88 http://t.co/jnrIrm73CF
Lilly Bynum
20 Apr 14 20:27:17
5 Stocks you should be watching $FRC $RGLD $ADT $GRPN #moneymanagement http://t.co/oS7xrz9oGl
Bettie Pagan
20 Apr 14 20:10:00
$TDG Great #Stock Newsletter on $RGLD $AAPL $GOOG Try this http://t.co/vW4S9VOV33
Crew Daily
20 Apr 14 17:06:22
$UNP Are you Bullish on these #stocks $RGLD $TEG $CRAY Worth a look http://t.co/kcUGAcKOQV
Sky Hunter
20 Apr 14 16:43:36
$HOLX #Stocks you might want to buy $RGLD $RK $SSO View now http://t.co/PcHeAEN95K
Stockaholics
20 Apr 14 16:06:50
Our Penny Stock Newsletter Picks, gained 5,000% in 4 months! Subscribe Today: http://t.co/5B5saivZk0 $SAND $EC $RGLD
Fin_Vestor
20 Apr 14 15:35:36
$RGLD Myles Chefetz, Michael Schwartz dominate Miami's fine-dining scene http://t.co/IhlKDd3tRy
Esau Braxton
20 Apr 14 13:11:11
Are you Bullish on these #stocks $HSP $ZNGA $RGLD $CLF View now http://t.co/sBj88ET9Ea
TickerChirp
20 Apr 14 12:45:05
Hottest Tweets Pertaining to $RGLD on 04/20/2014 http://t.co/JrIrzWODI8
Marius Jackson
20 Apr 14 10:10:08
Small-cap stocks making 52-wk highs $FII $ALKS $RGLD $VFC #newsletter http://t.co/wg2Zj4YZSo
Haiden Dallas
20 Apr 14 09:13:59
Bad #Invesments like got you down $GMCR $TUP $RGLD $IR Must see http://t.co/tfWJtT9tV6
The Amazing Seven
20 Apr 14 09:13:13
Wow. Great #Stock #Research on $AGNC $MOS $RGLD $PCLN #wallstreet http://t.co/R98icbNUiY
Mike Lansing
20 Apr 14 08:38:49
Awesome #Stock #Research on $NWSA $RGLD $HFC $RT #financialnews http://t.co/70JZYkROGs
Ward Anders
20 Apr 14 07:15:56
$ROP Here are some Stocks to Watch $RGLD $ASNA $GAIN #liquidity http://t.co/AzsCuavrvG
Darryl Kendal
20 Apr 14 06:31:32
Awesome #Stock #Research $RHI $CBG $RGLD $VFC #overvalued http://t.co/2khe5fPACK
Mind Equity
20 Apr 14 05:18:01
Are you Investing in $RGLD $LRCX $FCX $GLD Give it a try http://t.co/Mj1FGIWSEE
				
				
By  +Follow October 17, 2013 10:28AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.