• 1 min Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount
  • 45 mins EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
  • 2 hours IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030
  • 3 hours Minister Says Norway Must Prepare For Arctic Oil Race With Russia
  • 4 hours Eight Years Late—UK Hinkley Point C To Be In Service By 2025
  • 5 hours Sunk Iranian Oil Tanker Leave Behind Two Slicks
  • 6 hours Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators
  • 13 hours WCS-WTI Spread Narrows As Exports-By-Rail Pick Up
  • 18 hours Norway Grants Record 75 New Offshore Exploration Leases
  • 22 hours China’s Growing Appetite For Renewables
  • 1 day Chevron To Resume Drilling In Kurdistan
  • 1 day India Boosts Oil, Gas Resource Estimate Ahead Of Bidding Round
  • 1 day India’s Reliance Boosts Export Refinery Capacity By 30%
  • 1 day Nigeria Among Worst Performers In Electricity Supply
  • 2 days ELN Attacks Another Colombian Pipeline As Ceasefire Ceases
  • 2 days Shell Buys 43.8% Stake In Silicon Ranch Solar
  • 2 days Saudis To Award Nuclear Power Contracts In December
  • 2 days Shell Approves Its First North Sea Oil Project In Six Years
  • 2 days China Unlikely To Maintain Record Oil Product Exports
  • 2 days Australia Solar Power Additions Hit Record In 2017
  • 2 days Morocco Prepares $4.6B Gas Project Tender
  • 2 days Iranian Oil Tanker Sinks After Second Explosion
  • 5 days Russia To Discuss Possible Exit From OPEC Deal
  • 5 days Iranian Oil Tanker Drifts Into Japanese Waters As Fires Rage On
  • 5 days Kenya Cuts Share Of Oil Revenues To Local Communities
  • 5 days IEA: $65-70 Oil Could Cause Surge In U.S. Shale Production
  • 5 days Russia’s Lukoil May Sell 20% In Oil Trader Litasco
  • 5 days Falling Chinese Oil Imports Weigh On Prices
  • 5 days Shell Considers Buying Dutch Green Energy Supplier
  • 6 days Wind And Solar Prices Continue To Fall
  • 6 days Residents Flee After Nigeria Gas Company Pipeline Explodes
  • 6 days Venezuela To Pre-Mine Petro For Release In 6-Weeks
  • 6 days Trump Says U.S. “Could Conceivably” Rejoin Paris Climate Accord
  • 6 days Saudis Shortlist New York, London, Hong Kong For Aramco IPO
  • 6 days Rigid EU Rules Makes ICE Move 245 Oil Futures Contracts To U.S.
  • 6 days Norway Reports Record Gas Sales To Europe In 2017
  • 7 days Trump’s Plan Makes 65 Billion BOE Available For Drilling
  • 7 days PetroChina’s Biggest Refinery Doubles Russian Pipeline Oil Intake
  • 7 days NYC Sues Five Oil Majors For Contributing To Climate Change
  • 7 days Saudi Aramco Looks To Secure $6B In Cheap Loans Before IPO
Alt Text

Can Mali Maintain Its Gold Mining Status?

Mali could be about to…

Alt Text

Expect Mine Closures In This Key Gold Mining Nation

Major gold mining nation South…

Alt Text

Did These Mining Giants Just Confirm The Next Gold Frontier?

After Ecuador’s President removed a…

Gold Crucifies Doubters

Gold Crucifies Doubters

Gold (GLD) blasted through to an all time high last night, doubters and naysayers carping all the way up that it was overpriced.

The white metals of silver (SLV), platinum (PPLT), and palladium (PALL) were firm, but were clearly being held back by flagging industrial demand in front of a potential double dip scenario for the economy.

Sales of one ounce American eagle gold coins has roared to an 11 year high, and there is a risk than the US Mint will run out of blanks.

Other gold coins providers are seeing the same. The maker of South Africa's krugerrands has boosted production to meet surging demand. The Austrian Mint sold 238,000 ounces of its Vienna Philharmonic coins last month, a six fold increase. The Royal Canadian Mint, which usually sees as little as 5,000 sales a month, received a single order for 120,000.

Concerns about an overhang of a potential 400 tonne sale from the IMF for a Greece bailout had kept bulls at bay, until word leaked out that a single Canadian investor offered to take the entire lot.

It does move my personal long term forecast for the barbaric relic of $2,300 from the realm of the wild eyed optimists, the Armageddon crowd, and the hyperinflationistas, to a comfortable country club of sober conservatives.

GLD Price

Article courtesy of: The Mad Hedge Fund Trader




Back to homepage


Leave a comment
  • Anonymous on June 10 2010 said:
    Thank you for taking time to share the graph with us.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News