Perceived as an inflationary hedge, Gold continues to be an attractive asset amongst investors despite inflationary pressures easing marginally in major economies around the world. For full story, click here
Gold slipped almost 2 % on as commodity prices fell and the dollar firmed against the euro. For full story, click here
Gold miners were down significantly in morning trade. Newcrest Mining slumped 4.38 %to $20.08, Newmont Mining was 19 cents down to $3.79 and Lihir Gold shed 13 cents to $1.86. Spot gold in Sydney was at $US713 an ounce, down $US23.80 on yesterday’s local close. For full story, click here
Gold producers, which were up earlier in the day, declined after the yellow metal slumped. Demand for gold as a safe haven was eroded by lower borrowing costs in Europe & the U.K. Gold mining major, Barick Gold Corp, fell 6.3 % to C$27.50. Gold Corp Inc, another big gold producer, declined 6.4 % to C$25.07. For full tory, click here
From secod week of last month to nearly the end of the same month, iShares Comex Gold ETF (IAU) rejoined the sector momentum tracker’s top 10 —holding the number three spot in rankings for that period. For full story, click here
South Africa’s gold and foreign currency reserves dropped last month as the price of bullion declined. Danalee van Dyk, economist at Standard Bank Group Ltd. said: The lower reserves reflect valuation adjustments because of the lower gold price. There was also substantial volatility in the exchange rate of the rand, which provided less scope for [...]
The yellow metal that rallied during every US recession in the past 3 decades, may fall to a two-year low as the threat of deflation curbs bullion’s shine. Joel Crane, a Deutsche Bank AG strategist, said: Gold is not considered a safe haven because investors are viewing it as part of the commodity class. Commodity [...]
Gold imports in India declined 27 % in October from a year earlier reversing a 2 month surge as volatile prices and fall of the local currency hit demand. Suresh Hundia, president of the Bombay Bullion Association, said: Imports in the world’s largest gold consumer fell to 44 tonnes in October from 60 tonnes in [...]
Gold futures finished the October month’s trading with their worst monthly record since early 1983, as a rising U.S. dollar and fund liquidations pounded the yellow metal. For full story, click here
The African miner said that the output may increase and costs fall in the current quarter as it tries to take advantage of a fall in the rand. Graham Briggs, CEO of Harmony gold, said: Output may advance 1.3 percent to about 12.5 metric tons (401,883 ounces) in the three months ending Dec. 31 compared with the [...]
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