Gold News: What the Earning Reports Mean for Its Price

A closeup of two gold bars

While tensions with North Korea continue to dominate the news, there is some great fundamental gold news coming out about its exploration.  Exploratory drilling is up for the fifth straight quarter, not just for gold but for other metals such as lithium and copper.

Earnings reports from the senior gold miners like Barrick (NYSE:ABX) show most companies are getting costs under control, with Barrick reporting a cost-per-ounce of $731, down 12% in just two years.  And Indian marriage season buying should be ramping up, though we won’t see any reliable numbers until September.

Related: Is Unemployment Affecting the Price of Gold?

So things are looking good right now for our favorite metal.  For your weekend reading enjoyment, today we feature a piece that discusses gold vs the S&P 500.  Trading and investing, after all, are really just ways of trying to increase your wealth by fluctuations in relative value.

But that’s deeper than we probably need to get today with gold news.  So relax, enjoy the article, and let us know what you think in the Comments below.

Related: Did Gold Jump Due to Trump’s Threat?

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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