This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gold Prices Climb on Speculation of Added Fed Easing (Update 1)

So-called fiscal cliff negotiations resumed over the weekend between President Barack Obama and House Speaker John Boehner (R., Ohio) without any details of what they discussed, but a spokesman for Boehner said "the lines of communication remain open."

Gold prices occasionally have reacted to news that has emerged from negotiations about the fiscal cliff -- when tax relief measures and deep spending cuts will automatically go into effect.

A lack of more specifics from the weekend meeting between the president and the Republican speaker appears to have failed to move investors in a decided direction.

For Monday, most eyes are on the possibility of more monetary stimulus from the Fed.

Gold mining stocks were mostly higher Monday. Shares of Goldcorp (GG - Get Report) were gaining 0.71%, while shares of Royal Gold (RGLD - Get Report) were increasing 1.8%.

Among volume leaders, Barrick Gold (ABX - Get Report) was climbing 2%, and Newmont Mining (NEM - Get Report) was up 2.1%.

Gold ETF SPDR Gold Trust (GLD) was increasing 0.44%, while iShares Gold Trust (IAU) was up 0.46%.

-- Written by Joe Deaux in New York.

>Contact by Email.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ABX $12.52 0.00%
GG $19.01 0.00%
GLD $113.05 0.00%
NEM $24.98 0.00%
RGLD $62.30 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs