Gold mining company shares rose on the last trading day of 2011, tracking gains in the precious metal itself and outperforming the broader equity markets.
Out with the old year, in with the new and for investors uncertainty is likely to be the only certainty once more.
Gold demand in India rose on Friday, after prices fell 3 percent in the past two days, luring jewellers who began restocking and preparing for the wedding season beginning mid-January, dealers said.
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Gold demand in India rose on Friday, after prices fell 3 percent in the past two days, luring jewellers who began restocking and preparing for the wedding season beginning mid-January, dealers said.
Yukon-Nevada Gold Corp. expects increased production from its Jerritt Canyon project next year, the Vancouver-based company said Friday.
Japan's leading share average ended higher on Friday but marked a 17 percent loss for 2011, a tumultuous year in which massive natural disasters triggered a nuclear crisis and Europe's debt turmoil drained volumes, leaving investors uncertain of a turnaround next year.
February gold hit a fresh six-month low of $1,523.90 per ounce overnight. Gold has been under intense pressure since it closed at $1,741.80 per ounce Dec. 7.
Gold prices began the final trading day of 2011 higher as bargain hunters took advantage of a recent downdraft that has left the metal with its first fourth-quarter loss in more than three years.
The top after-market NASDAQ Stock Market gainers are: MoSys, Pacific Biosciences of California, Career Education, Thoratec, and Royal Gold. The top after-market NASDAQ Stock Market losers are: Primo Water, DexCom, SIGA Technologies, Xyratex, and Northern Technologies International.
Asian stocks nudged higher and the euro clung to overnight gains Friday, the last trading day of 2011, as positive data from the United States helped allay concerns on the global economy, while year-end short covering lifted crude prices.
Gold prices fell on Thursday to their lowest level in nearly six months as tight liquidity in the euro zone forced investors to sell the metal, but strong U.S. economic data prompted a stock rally on Wall Street.
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Wall Street stocks resumed their upward move into year-end on Thursday but the S&P 500 continued to churn around its 200-day moving average as jitters over Europe contrasted with better-than-expected U.S. economic data.
Gold prices Thursday tumbled to levels not seen since last summer, slashing what just weeks ago had been a gain of more than 20 percent this year to less than 10 percent.
Gold demand in India marginally improved on Thursday after prices fell to their lowest level in more than two months, but many buyers in the world's biggest importer were on the sidelines hoping for a steeper fall soon, dealers said.
The United States Mint said it has enough American Eagle gold and silver bullion coins to meet demand and does not expect to allocate them in early 2012.
Gold fell to a three-month low on Thursday as prices were weighed down by a firm dollar, while investors remained cautious ahead of an important Italian bond auction later in the day.
Gold prices plunged 1.7 percent Thursday on a strengthening dollar, which was rising ahead of a crucial auction of Italian bonds and fresh worries about Eurozone banks.
The top aftermarket NYSE gainers Wednesday were: Hudbay Minerals, Radian Group, Ritchie Bros. Auctioneers, Gol Linhas Aereas Inteligentes, AuRico Gold, Jones Group, HyperDynamics Corp, Parker Drilling, Huntsman Corp and Suncor Energy Inc.
Asian stocks fell on Thursday, taking cues from weak U.S. and European shares, as players cut positions heading into the year end with an Italian debt auction later in the day keeping markets nervous.