Gold Prices News. Gold price is back near record highs. The growing political unrest helped send the spot price of gold to around $1,418 (U.S.) an ounce on Thursday, not far from a record of around $1,430 an ounce reached in December. Gold's rice is also underpinning by rising inflation in emerging markets.
Gold companies are reporting a steady stream of record quarterly and annual financial results, buoyed by strong prices. But the corporations are warning of higher costs in the months ahead as a result of surging oil prices and other expenditures, and there’s growing concern that those pressures will erode future profits.
Deutsche Bank Securities Inc. analyst Jorge Beristain said that old producers are sensitive to higher oil prices.
Rising costs have put pressure on mining stocks despite near-record gold prices. For instance, Newmont Mining Corp. shares fell more than 7 per cent on the New York Stock Exchange Thursday while Yamana Gold Inc.’s stock was down 2.5 per cent in Toronto, despite the strong results. Barrick Gold Corp. shares fell 3 per cent, while Kinross Gold Corp. shed more than 2 per cent.
For more daily information about gold prices, you can visit gold prices.org. The site provides you with fast loading charts of the current gold price per ounce, gram and kilogram in 27 major currencies. Keep your eye on gold prices!
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