Gold Producers Climbing Off 28-Year Low Versus Metal

Barrick Gold Corp. (ABX) and other bullion producers are climbing from 28-year lows relative to the metal as they tame costs, raise cash flow and beat profit estimates.
Share-valuation measures have improved since mid-year, suggesting a return of optimism regarding the sector, Kenneth Hoffman, a Bloomberg Industries analyst, said in an Oct. 29 report. Goldcorp Inc. (G) and Agnico-Eagle Mines Ltd. (AEM) rose the most in almost five months after their earnings last week beat analysts’ forecasts. Barrick, the world’s largest producer, reports results tomorrow.
“The gold shares are starting to outperform the gold price,” David Christensen, chief executive officer of ASA Ltd. a San Mateo, California-based company that manages about $550 million and invests in precious metals companies. “As the companies begin to tighten their operating constraints and generate more cash flow, we’re seeing some of that turnaround in the valuations in the industry.” : Source Bloomberg Read More >>>>

Gold rebounded after a drop to the lowest price in almost seven weeks

Gold rebounded after a drop to the lowest price in almost seven weeks spurred purchases and as investors boosted holdings in exchange-traded products to a record. Silver, platinum and palladium advanced.

Spot gold climbed as much as 0.4 percent to $1,708.85 an ounce and was at $1,706 at 12:06 p.m. in Singapore. The metal slumped to $1,699 yesterday, dropping below $1,700 for the first time since Sept. 7, as the European Central Bank warned about the risk of deflation in some countries.
Source Bloomberg : Read More >>>>>

Obama Better for Gold Bugs

Another term of Barack Obama would be bullish for gold : Phil Streible, Sr. commodities broker at RJO Futures, says Mitt Romney’s pledge to boot Fed Chief Ben Bernanke if he wins puts him at odds with gold investors. An Obama win would be positive and bullish for gold says Phil

Jim Rogers Doubts Any Silver Market Manipulation

Daily Bell: The CFTC just dropped an investigation into silver manipulation. Is it manipulated day-to-day and does it matter?
Jim Rogers: A) It doesn't matter and B) I don't think it is. There are conspiracy theorists out there who say it's manipulated but I don't buy it. Mainly, I don't buy it because if it were manipulated like the conspiracy theorists say, it's been going on for 25 or 30 years. By now somebody would have told us. You can't keep a secret like that because then the conspirers would have to be all over the world. There would have to be tens of thousands of people. By now we would know about it. I'm a little skeptical.
It doesn't matter, as far as I'm concerned. Silver is going to go much higher. I own silver and if there's somebody trying to artificially suppress it, more power to them because in the end it's going to go up even higher. Whenever you artificially suppress something, once it finally breaks free, boy, does it skyrocket. Look at gold in the '70s. They artificially kept it down at $35 for a few decades. Finally the market said enough and it went up over 40 times. - in Daily Bell

Silver is Still Cheaper than it was 32 Years ago

“Consider this: Silver is the only major commodity not to have reached a new all-time high in this bull market; silver is still cheaper than it was 32 years ago, prices are astonishingly depressed,” Peter Cooper wrote for Resource Investor. [Silver ETFs Not Shining in 2012]