Increased price lifts Avocet
Gold miner Avocet reported output in line with expectations in the Q2 and benefited from increased prices for the yellow metal. For full story, click here For company’s website, click here
Archive for October, 2008
Why Buy Gold When the Price is Falling
Prices of the metal being steady is the reason. In Eurozone recent weeks have seen the € fall from $1.60 to $1.25 a fall of 22%. This is the time that gold has fallen iom $900 to $700, a fall 22%. In the €, gold has remained steady at +€560 of late. For full story, click here
Gold futures rises for second day
Gold futures rose for a 2nd day in New York as the dollar fell, boosting the appeal of the precious metal as an alternative investment. For full story, click here
Gold Cortez Drill Intersects 0.07 opt Gold Over 50ft.
US Gold Corporation said that drilling at Gold Bar at Tonkin project in the Cortez Trend, successfully intersected what US Gold’s geologists believe is a new mineralized zone. For full story, click here For company’s website, click here
Barrick Gold Q3 profit down
Barrick Gold Corp. posted Q3 net income of US$254 million, down from $345 million a year earlier. Peter Munk, chairman and interim CEO of Barrick Gold, said: While gold prices have been volatile in the face of a global credit crisis as investors have liquidated positions across all asset classes, we continue to be positive about the [...]
Gold up nearly 3 % on weak dollar
Gold rose around 3 percent to a one-week high as a weaker dollar and rising oil prices boosted sentiment. Eugen Weinberg, analyst at Commerzbank, said: It’s surprising that the increase in gold wasn’t as pronounced as expected.. I expected gold to climb above $800 on the dollar’s weakness. The sentiment for gold is improving day by day, [...]
‘Gold may reach $1000/oz next year’
A higher gold price was on the way with $1 000/oz possible next year Nick Holland, Gold Fields, CEO siad. Nick Holland, Gold Fields, CEO siad: I still remain firmly of the view that we are going to see a higher gold price. I still believe we could see $1 000/oz during 2009. But gold [...]
Gold prices could have reached a vital bottom
US monetary theorist Franklin Sanders said on Monday that the prices of the yellow metal may have reached a significant bottom in the present economic climate. Franklin Sanders, US monetary theorist, said: Obviously confirmation is needed, but it now appears that silver and gold prices have made an important bottom. Premiums are still crazy high, deliveries [...]
Gold firms will pay for results misses
The Q3 results strats on Wednesday for large-cap gold firms stocks are now “poised to disappoint” in a difficult market environment. Anita Soni, Credit Suisse analyst, said: We expect earnings, production or cost misses will be viewed unforgivingly in the current environment of extreme aversion to operational risk. For full story, click here
New Director in Alliance Mining Board
Travis M. Snider has joined the Board of Directorsof the company. Travis has over 14 years experience in the mining and exploration industry. Jan Ross, President, Alliance Mining, said: We are very please to have a hands on person like Travis to join our team as he will play a integral role in advancing our gold [...]
