Minco Gold Corp (TSX:MMM) announced the results of the current phase of exploration conducted on the company's Yejiaba property in Gansu Province, China.
Articles Tagged "china"
Sprott's David Franklin follows the gold trail from West to East, concluding that redemptions out of the world's largest gold ETFs are being sent to Switzerland and Hong Kong, for eventual delivery to China.
Positive economic news is hurting gold again, but it could get worse for the metal next week, when the US Federal Reserve makes a decision on quantitative easing.
Chinese gold mining companies are making acquisitions at a record pace, compared to Western gold miners sidelined from M&A due to writedowns, debt and pressure from shareholders to hold off on deals, Bloomberg reported.
The decline in the gold price has created a massive buying opportunity in Asia, with gold jewelry, coins and bars flying off the shelves. The World Gold Council crunches the numbers for the second quarter.
An increase in the dollar and an improving U.S. economy caused gold prices to ease July 15.
China, Australia and the United States were the top bullion producers in 2012.
As the West flees gold, another set of buyers has come forward with the aim to preserve wealth.
Majestic Gold (TSXV:MJS) announced Thursday that it has entered into an agreement with Yantai Dahedong Processing whereby Dahedong will exchange its 25-percent interest in the net profits of its Chinese subsidiary, Yantai Zhongjia Mining, for a 25-percent working interest in Zhongjia.
Nasdaq reports that China will launch two gold bullion ETFs.