MarketWatch reports gold futures fell about 5% to its lowest level in 2 weeks with the rising US dollar. Gold’s losses followed broad declines in precious metals and other commodities. Silver plunged 13%. Gold for December delivery lost $43, or 4.8%, to end at $844.30 an ounce on the Comex division of the New York Mercantile [...]
Romios Gold reports its sampling of a mineralized breccia swarm at their Trek property. Following the sampling program, a diamond drilling program was initiated to further test the exposed mineralization. The diamond drill program, consisting of six holes, as reported in Romios Gold’s Press Release dated Sept 3, 2008, produced positive results with hole TRK -08-01 cutting [...]
Resource Investor(Editorial) reports physical gold and silver demand is becoming popular with the panic driven paper futures. Most bullion dealers will tell you the main problem at the moment is that few people are selling bullion and many more people want to buy with current spot market pricing. Increasingly investors are turning to metal ETFs [...]
MarketWatch reports gold fell for the first time as the dollar rises with a downward pressure on prices while the $700 billion rescue plan is in the hopes of passing. Gold surged more than $25 overnight, reaching $920.20, as “the bailout rejection triggered a run” in gold prices and “safe-haven demand continued to flow into the market,” said James Moore, [...]
National Post reports Goldcorp’s Red Lake mine is expected to increase production starting in 2009. “We forecast an increase in gold production, from the 625Koz estimated for 2008, to a sustainable level of 800Koz/yr starting in 2009.” Mr. Curran maintained his “top pick” rating and $47 price target on Goldcorp stock, noting that cash costs at [...]
Reuters reports gold has a bright outlook with industrial demand for the metal and renewed interest in gold futures by stock market fugitives says a director at AngloGold Ashanti, the world’s third-largest gold miner. “We are excited about the future because we think it has a place in the stability of the different currencies and there is a [...]
MarketWatch reports gold futures rise above $900 an ounce Monday on safe-haven buying while the $700 billion plan to rescue the U.S. financial markets. Meanwhile the U.S. dollar rose sharply against its major rivals, limiting gains in dollar-denominated gold prices. Gold for December delivery rose $14.50, or 1.6%, to $903 an ounce on the Comex division of [...]
Journey Resources and Grenville Gold report a second amendment to the joint venture agreement dated February 5, 2008 on Silveria project, Peru. Under the terms of the amended joint venture agreement, Journey has an exclusive option to acquire up to a 75% interest in and to the Property by funding certain expenditure requirements on the Property. To [...]
National Jeweler Network(Editorial-Sept 24) reports big jewelers though not in competition with other independent jewelers, bankruptcy of the two retail giants: Friedman’s Jewelers and Whitehall Jewellers will make waves in the industry. Friedman’s filed for Chapter 11 bankruptcy protection in January, with Whitehall following suit in June, a somewhat surprising occurrence considering that two months earlier, the Chicago-based [...]
MarketWatch reports gold prices fell as Washington proposed plans for financial bail out is awaiting its fate. In a sobering speech to the nation late Wednesday, Bush said major sectors of the U.S. financial system are at serious risk of disruption, outlining the potential for banks to fail, the stock market to drop, home values to [...]
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