Jul

Comex Gold Sells Off, Hits Fresh Six-Week Low on Technical Selling

Comex gold futures in New York have sold off Tuesday morning, as more technically related selling is featured. A lack of fresh, bullish fundamental news has also allowed technically based trading to become more prevalent Tuesday. August gold last traded down $16.70 at $1,191.00 an ounce. August gold could be seeing the beginning of a bearish downside “breakout” from a minor bearish pennant pattern that had formed on the daily bar chart in recent trading sessions. The next major downside near-term technical target for the gold bears is pushing and closing August futures prices below solid chart support at $1,168.00.

Categories : July 2009, July 2010

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Gold Industry News

Early Glance: Gold companies February 7, 2012
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NovaGold Closes US$332.5 Million Bought Deal Equity Offering February 7, 2012
[Marketwire] - VANCOUVER, BRITISH COLUMBIA-- - NovaGold Resources Inc. today reported that it has completed its previously announced bought deal equity offering of 35 million common shares, at a price of US$9.50 per ... […]
Orient Venture Capital Inc. Announces Proposed Qualifying Transaction With Virginia Energy February 7, 2012
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Orient Venture Capital Inc. Announces Proposed Qualifying Transaction With Virginia Energy February 7, 2012
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Denver Post Says Midway Gold Was the Top-Performing Stock in Colorado for 2011 February 7, 2012
[Business Wire] - Midway Gold Corp. reports that on December 31, 2011, the Denver Post reported that Midway was Colorado’s top-performing stock in 2011 with a 151% share price increase. […]

Energy & Oil Industry News

Oil prices climb as Iran threatens EU supply cut (AP) February 7, 2012
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BP preparing "vigorously" for oil spill lawsuits (Reuters) February 7, 2012
Reuters - BP said it was preparing "vigorously" for lawsuits related to its Gulf of Mexico oil spill, which are due to start later this month, as it unveiled a rise in fourth-quarter earnings boosted by higher oil prices and one-off gains. […]
Oil hovers near $97 as traders eye US supplies (AP) February 7, 2012
AP - Oil prices hovered near $97 a barrel Tuesday in Asia amid trader concern U.S. crude supplies will continue to rise because of weak demand. […]
Canada's Harper in China visit focused on energy (AP) February 7, 2012
AP - Canadian Prime Minister Stephen Harper is visiting China to discuss oil sales and other economic ties following U.S. President Barack Obama's rejection of a pipeline carrying Canadian oil across the continental United States. […]

Business News

Bernanke Reiterates U.S. Labor Market Is 'Long Way' From Return to Normal - Bloomberg February 7, 2012
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Nymex Crude Gains as Investors Reverse Brent Bet - Wall Street Journal February 7, 2012
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Jewel-Osco parent to cut 800 jobs in US; 20 in Chicago - Chicago Tribune February 7, 2012
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Glencore and Xstrata deal draws criticism - Financial Times February 7, 2012
Telegraph.co.ukGlencore and Xstrata deal draws criticismFinancial TimesBy Javier Blas, Kate Burgess and Tom Burgis Xstrata and Glencore are facing calls from some shareholders to sweeten their proposed all-share merger that would create a $90bn group, combining the world's largest commodities trading house with one of the ...Glencore, Xstrata Enlist 18 […]
Coinstar Soars on Profit, Buyout of NCR Unit: Los Angeles Mover - BusinessWeek February 7, 2012
New York Daily NewsCoinstar Soars on Profit, Buyout of NCR Unit: Los Angeles MoverBusinessWeekFeb. 7 (Bloomberg) -- Coinstar Inc., owner of the Redbox movie-rental kiosks, rose the most in 15 months after reporting profit that almost tripled and plans to buy the competing DVD service operated by NCR Corp. Coinstar, based in Bellevue, ...Coinstar surges on Re […]

More Business News

Oil prices climb as Iran threatens EU supply cut (AP) February 7, 2012
AP - Oil prices are rising as Iran again threatens to cut off supplies to Europe. […]
Watchdogs to drag shadow banks into the light (Reuters) February 7, 2012
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Delaware officials wrestle over mortgage deal (Reuters) February 7, 2012
Reuters - Delaware stands to leave up to $40 million in homeowner relief on the table, if it does not join a multi-state mortgage settlement, according to a letter from the state's banking commissioner seen by Reuters on Tuesday. […]
Summary Box: Coke adjusted 4Q results beat Street (AP) February 7, 2012
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Greece drafts bailout text for parties as talks inch forward (Reuters) February 7, 2012
Reuters - Greece's government is preparing a document with a list of painful reforms needed to clinch a new financing package, a government official said on Tuesday, moving Athens one step closer to a deal needed to avoid a chaotic debt default. […]