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.
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.
Chalice Gold has agreed to sell its 60 percent interest the Zara gold project in Eritrea to China SFECO Group for $100-million. The sale will enable Chalice to pursue other mining opportunities in Eritrea and around the world.
Gold performed well in 2011 and the 2012 gold outlook by most accounts is also positive. But still, investors should prepare for a bumpy ride.
Centerra Gold sees continued pressure from wage inflation and higher oil prices in 2012. VP of Investor Relations John Pearson said they are trying to cut costs and increase efficiency.
Friday, February 3, 2012