Hedge funds are the least bullish on gold since 2007 prompting contrarians betting all the big sellers have been flushed out, to push gold higher Tuesday.
Canadian mining companies are becoming increasingly unwilling to add employees to their payrolls and are reporting the weakest hiring intentions since Q3 2009.
The legislation could have enabled Canada's Gabriel Resources to proceed with plans to build Rosia Montana mine, Europe's largest open cast gold operation.