The Bank of England preserving its official Bank Rate paid on reserves at 0.5 percent helped the spot market price of gold to climb to $1747.50 per troy ounce. Gold prices were further supported by the Bank’s vote to inject another 50 billion pounds into its financial system along with news of Greek leaders finally negotiating a deal on fiscal reforms.
Gold miners may be set for another year of strong earnings but with them, there will be challenges.
Gold spot price has climbed nearly 12 percent so far in 2012, supported by positive economic data and monetary policy guidance in the US.
As expected, there was strong gold consumption associated with the Chinese New Year celebrations. But will the Year of the Dragon be one of sustained strong demand from China?
Following Wednesday’s announcement by the Federal Reserve that interest rates would likely stay near zero in the coming two years, the price of gold surge to its highest price in four months.
There’s gold in Cambodia. The question is– are the risks and costs worth the possibilities?
Strong supply and demand fundamentals give long-term bullish gold outlook.
Rye Patch Gold has won a legal claim to explore gold in Nevada, announced a discovery and encouraging Phase I drilling result from an exploration program, all within the past six weeks. While its share price has risen dramatically — soaring more than 80 percent on Dec. 5 – it seems that investors’ enthusiasm has dropped off a bit.
Jaguar Mining said on Wednesday it has signed confidentiality agreements with several parties announcing it was engaging in a strategic review process to “explore alternatives”.
Newmont Mining Corp said on January 5 it would pay more than $2 billion in taxes over the life of its proposed Conga mine inPeru after violent protests by residents and local politicians in the Cajamarca region — where the operation is located — since November. The protestors claim the Colorado gold miner’s activities will taint their water and affect a major aquifer.
Friday, February 10, 2012