The precious metal managed to claw back a few dollars on Thursday after hitting a 4.5-month low on Monday due to the Iran-US nuclear deal.
Articles Tagged "ASX:NCM"
Here are five companies mining the precious metal Down Under.
Gold rallied to a three and a half-month high this week, with the US and UK considering military intervention in Syria.
Newcrest Mining (TSX:NM, ASX:NCM) announced a statutory loss of A$5,778 million for the year ending June 30, 2013.
The renowned exploration geologist offers some hope for junior gold investors who are willing to be patient.
Investors continued to dump the stock after Barrick announced a delay at Pascua Lama and a writedown of as much as $5.5 billion.
MoneyNews reported that Newcrest Mining's (ASX:NCM) decision to write down the value of its mines by as much as A$6 billion ($5.5 billion) will lead to the biggest one-time charge in gold mining history.
Gold investors held on for a long, scary ride in the markets on Thursday as gold broke through $1,300 an ounce and plumbed two-and-a-half-year lows.
Gold came roaring back this week, retracing about half of the losses it sustained on April 15.
Reuters reported that Newcrest Mining Ltd. (ASX:NCM) plans to spend AU$5 billion in order to increase gold production by 1 million ounces in the next five years. Other major mining companies, such as Barrick Gold Corp. (TSX:ABX), are aiming for similar production increases.