Gold
Business Insider, The Daily Reckoning, discusses the midday turn on Wall Street yesterday, despite the continuing unrest in the Middle East.
Bloomberg reports that the presidents of Kenya and the Democratic Republic of Congo have begun an investigation into rumors that 2.5 metric tons of gold was smuggled from Congo into Nairobi.
Market Watch reports that Newmont Mining Corp. (NYSE:NEM) was hit Thursday after the world’s second biggest gold producer lowered its estimated 2011 gold output, lessening the glow off a 46% jump in its fourth-quarter profit.
Bloomberg reports that as unrest in Libya spurs demand for the metal as an alternative investment, gold could continue to rise in London, extending the fourth consecutive weekly advance.
Yukon-Nevada Gold Corp. (TSE:YNG) announced additional assay results from its ongoing 2010 and 2011 Smith Mine underground drilling program at its gold production Jerritt Canyon property in Nevada, USA.
Callinan Mines (CVE:CAA) continuing exploration program at Gossan Hill has located gold mineralization in each of 12 holes for which assay results have recently been received.
International Business Times reports that gold and oil prices extended rallies in Europe.
Bloomberg reports that Centamin Egypt Ltd. ( LON:CEY), a gold company operating in the North African country, says political upheaval has caused “mild disruptions” and that all employees have returned to work at its Sukari mine.
Bloomberg reports that Newmont Mining Corp. (NYSE:NEM) said its fourth-quarter earnings jumped 45 percent on the rising price of gold and increased production, although the company warned that production will later drop because of problems at mines in Australia and Indonesia.
Lake Shore Gold Corp. (TSE:LSG) announced results from an additional 72 holes of underground drilling at the Timmins Mine.
