BCGold Corp. reports that it has began its diamond drilling on its Carmacks copper-gold properties, Yukon. BCGold is the largest landholder in the Carmacks Copper-Gold Belt. Its 17 Carmacks Copper-Gold Properties are strategically located proximal and adjacent to Sherwood Copper Corp.’s Minto Mine, which commenced commercial production on October 1, 2007, and Western Copper’s Carmacks Copper Project, located 52 kilometres [...]
Reuters(London) reports the US dollar firmed up against Euro while gold fell about 3 percent. Spot gold <XAU=> was quoted at $786.15/788.65 an ounce at 1304 GMT, down from $804.50 late in New York on Thursday, when it slipped 5 percent. Earlier it touched a low of $777.80. Matthew Turner, at commodity analysts VM Group says: [...]
Alexis Minerals, junior explorer and gold producer reports its discovery of copper-rich sulphide zone in Val d’Or, Quebec. The mineralization is located on the wholly-owned Dunraine property (Figure 1), 1720 metres vertically below surface and 1.5 km west of the past producing Louvicourt Mine in Val d’Or, Quebec (Past Production: 15.65 Million tonnes (Mt) @ 3.42% [...]
Bloomberg.com reports equity markets and oil prices have dropped and gold demand has been reduced as a safe haven metal. Gold for immediate delivery fell $14.76, or 1.8 percent, to $789.84 an ounce as of 12:11 p.m. in London. The decline for the week is 7 percent, the most since the five days ended Aug. 15. [...]
Brigadier Gold Limited reports its extention of the gold zone in the M-Island Zone, Larder Lake project, Ontario. The extension to the gold zone, which was first identified in holes MI-08-05 and hole MI-08-06 (see news release dated August 13, 2008), was intersected in Holes MI-08-08 and MI-08-09. Hole MI-08-09 returned grades up to 35.93 g/t gold over [...]
MarketWatch reports gold prices falls for the first time below $800 per ounce as investors look for cash. Also pushing gold prices lower were news reports that central banks were selling gold. The latest weekly data from the European Central Bank showed 7.6 tons of gold was sold during the week ended Oct. 10, according to Bloomberg, [...]
Mineweb(Editorial) reports gold has lost about 5%, lowest in this month with fears of global markets unstability. On Thursday, the dollar gold bullion price lost USD 40 an ounce, within minutes, shortly after trade started up in the Americas. The price plunged through the USD 800 an ounce level, before bouncing up a bit, and then fell [...]
Reuters(London) reports gold prices falls a month low as investors sell off commodities. Spot gold <XAU=> fell to a session low of $792.50 an ounce, before bouncing back to $801.10/804.10 at 1443 GMT, against $848.00 in late New York trade on Wednesday. For complete story, click this link. Follow developments in gold mining and exploration [...]
Bloomberg.com reports gold fell for 4th time today after the U.S. agreed to spend $250 billion to rescue banks. Stocks in the U.S., Europe and Asia rose for a second day after Treasury Secretary Henry Paulson announced plans to buy stakes in financial firms to ease the lending crisis. Gold fell 1.9 percent yesterday as the Standard [...]
The Economic Times of India reports higher gold prices have slowed a generally robust festival demand in Indian spot market. MUMBAI: While traditionally festival season starting from Daserra to Diwali have been perceived to be an auspicious time to buy gold, peculiarly higher prices have tamed the demand outlook this year. President, Bombay Bullion Association, Mr. [...]
Tuesday, October 21, 2008