Gold prices today (Thursday) climbed higher in morning trading, on track for global gains across three consecutive trading sessions.
Today's gold prices fell to levels not seen since mid-June. By market close Thursday, the yellow metal will have fallen for a fifth-straight session - its longest slump since June 2.
Gold investing 2014 update: Gold prices have had a strong first half in 2014. At the midpoint in July, the yellow metal had gone up 9.2% in value.
Investors in physical gold have benefited from the rise. Throughout the year, gold has consistently outperformed other major asset classes like U.S. treasuries and equities.
Two themes have dominated gold news the last few months, and both have opposite effects on gold price.
While silver and gold tend to move in similar directions, this week is different.
As gold reclaims the important $1,300-an-ounce price tag that it lost in recent period of sell-offs, silver prices have moved in the opposite direction falling below $20.
Gold mining stocks have benefitted from gold prices' 6.24% rise in 2014 - with some rising as much as 13 times the gain in physical gold.
This week, Money Morning Resource Specialist Peter Krauth had his eye on two gold mining stocks that were due to release earnings: Franco-Nevada Corp. (NYSE: FNV) and Royal Gold Inc. USA (Nasdaq: RGLD).
Gold prices today (Wednesday) were up a whopping $18.70 an ounce (up 1.43%) as of 12:30 p.m. EDT. Spot gold traded at $1,307.30 an ounce after closing at $1,288.60 an ounce in the previous session.
Junior miners can be among the most speculative, most volatile stocks on earth.
They boom, bust, and repeat. Only they do this with more extreme swings than most any other market.
The Nasdaq Composite for example, home to tech and biotech stocks alike, is up by nearly 120% over the past five years, while junior miners doubled... but then gave it all back.
In the last three years, junior miners have, as a group, lost about 58%, while the S&P 500 is up 52%.
But it's looking increasingly like we're entering a brand new boom phase, with junior gold miners up as much as 45.8% this year - with a lot more in store... Full Story
Gold prices are up for the year, but fell 3.3% in July.
Gold started the month off strong as geopolitical conflict rocked parts of Europe.
Gold market news, July 30, 2014: On July 25, South Africa's Rand Refinery - the biggest processing facility for gold in Africa and one of the biggest worldwide - announced it will receive a shareholder loan to make up for "lost" 87,000 ounces (2.7 tons) of physical gold in its inventory. The press release describes what amounts to a $112 million loss at current gold prices, making this one of the strangest stories to hit the gold market in 2014.
May 19 was a big day for gold prices worldwide - perhaps the biggest this year. On that day the powerful European central banks announced the signing of the fourth Central Bank Gold Agreement. While that may sound harmless, it’s anything but.
Watch for the gold spot price - the price of gold for immediate delivery - to make dramatic moves as the Federal Open Market Committee (FOMC) meets this week.
It has already had a volatile morning ahead of the meeting's Tuesday kickoff.
Gold prices have notched a 7% rise year to date as of late July, but the yellow metal has had its fair share of ups and downs in 2014.
Gold mining stocks, on the other hand, have risen higher, and posted some eye-popping returns for investors.
The Dow Jones Industrial Average was hammered on Thursday and the S&P Volatility Index soared after a Malaysian Airlines plane crashed in a Ukrainian war zone on suspicions it was struck by a missile. In addition, multiple big name brands slumped heavily after failing to meet second-quarter earnings expectations.
Commodity prices in gold, oil, and agriculture saw strong gains as investors fled to hard assets.