New Found Gold starts commercial output at Hammerdown mine
New Found Gold has reached commercial production at Hammerdown in Newfoundland after two months of sustained throughput and recovery. Shares rose more than 5% on the news.
Gold Market
Summaries produced by the GoldRate.info market desk from primary reporting, with sources linked on every article.
New Found Gold has reached commercial production at Hammerdown in Newfoundland after two months of sustained throughput and recovery. Shares rose more than 5% on the news.
Gold prices rose on September 16 supported by a weaker US dollar. Traders awaited the Federal Reserve's policy decision, with markets pricing a 90% chance of a quarter-point rate hike.
Gold prices erased gains and slid after the Federal Reserve hiked rates by 25 bps to a 3.75-4.00% range, with most officials projecting at least one more increase this year.
Gold and silver prices have stabilised slightly after recent declines, with analysts pointing to oversold conditions and key support levels holding ahead of this week's FOMC meeting.
Commodity markets are volatile as West Asia tensions disrupt supply chains. ICICI Direct's Pankaj Pandey explains the outlook for gold, metals and crude oil, and what it means for stocks.
A well-known commentator argues that market psychology, not artificial intelligence or economic data, is the true driver of gold prices. He sees a key support level for December futures.
Gold and silver futures dipped slightly on MCX on September 16. Retail gold prices in major Indian cities remained largely unchanged at ₹1,53,160 per 10 gm for 24-carat.
Gold failed to break above $4,500 and corrected lower, dipping below $4,450 and testing the $4,250 support zone. A bearish trend line at $4,355 is capping near-term gains.
Gold and silver prices rose in domestic markets on Wednesday, with MCX gold futures gaining Rs 1,300 per 10 grams and silver climbing Rs 4,000 per kg ahead of the US Fed decision.