Gold Market News Directory

Burkina Faso Passes New Mining Code

Reuters reported that on Friday, Burkina Faso's transitional parliament passed a new mining code that eliminates a previous 10-percent tax break on the profits of mining companies. Companies must now pay into a local development fund.

Second Chinese Bank May Join LBMA Gold Price

Mineweb reported that three new participants have been added to the LBMA Gold Price benchmarking process. One of those is the Bank of China, and rumor has it that another Chinese bank will also be approved for participation.

Gold Drops Further

Gold spot price was down 0.6 percent on Tuesday, hitting $1,178.10 an ounce as the euro dropped against the dollar and stock markets rallied in hopes that Greece would reach a deal with it creditors.

Metals Focus: Miners Debt Remains a Concern

The latest Precious Metals Weekly from Metals Focus provided a look at the performance of 10 major gold producers. The article noted that while miners have to some extent lowered their costs, the gold price has also fallen and debt for the miners remains a concern.

Gold Price Today: Gold Hits One-week High

The gold price gained 1.1 percent to reach $1,189.60 an ounce on Wednesday. The increase is the third in a row for the metal, and puts it at a one-week high. Meanwhile, COMEX gold futures for August delivery reached $1,189, an increase of 0.97 percent.

Infographic: Toll Milling in Peru

The latest infographic from Visual Capitalist, presented by Montan Mining (TSXV:MNY), looked at toll milling in Peru. Peru is South Americas largest producer and exporter of gold, but illegal mining accounts for nearly 20 percent of exports, according to government estimates.