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: [...]
Continue reading "Gold falls 3 pct as dollar firms"
Wednesday, October 15, 2008
Serengeti Resources reports positive results from Central copper-gold zone on its Kwanika copper-gold property in BC. The current release completes the results from the 2008 drilling program enabling the Company to proceed with its stated objective of completing a resource calculation by year end. Serengeti’s President & CEO David Moore states: “Hole K-114 continues to demonstrate the exceptional grade present [...]
Continue reading "Serengeti intersects 268 m grading 0.67% Cu, 0.84 g/t Au.."
Friday, October 10, 2008
Midway Gold Corp reports drilling on Pan project continues to expand gold mineralization at Wendy and Nana gold zones. Drilling results at Wendy continued to expand near surface oxide mineralization to the west towards South Pan and to the east. This zone now measures 1,650 feet along strike and 300 feet wide, and remains open to the east (where [...]
Continue reading "Midway continues to expand gold zones at Pan"
Thursday, October 9, 2008
MarketWatch reports gold prices fall as US dollar strengthens and traders lock into gains. Gold for December delivery dropped $11.50 to $895 an ounce on the New York Mercantile Exchange. Earlier, gold hit an intraday low of $885 an ounce. Other metals, however, posted gains. James Moore, an analyst at TheBullionDesk.com, notes: “While yesterday’s coordinated [...]
Continue reading "Gold futures fall as traders lock in gains"
Tuesday, October 7, 2008
San Gold reports its assay results have been received for drill hole #GS-08-74 in the new high-grade Hinge #4 zone. Hole #74 intersected 103.0 g/tonne (3.00 oz/ton) over 1.8 meters (5.9 ft) within a broader intersection of 30.5 g/tonne (0.89 oz/ton) over 6.0 meters (19.7 ft). This intersection is located between hole #33 and #25 and [...]
Continue reading "San Gold drills 103 g/tonne over 1.8 m at Hinge #4"
Monday, October 6, 2008
Reuters reports gold is down by more tham five dollars at a 2 week low. Gold was trading at $829.40 an ounce, down $5.40 from New York’s notional close on Friday, when it hit a two-week low of $818.70 after the U.S. House of Representatives voted to pass a $700 billion package to bailout the U.S. [...]
Continue reading "Gold down on oil and dollar; platinum at 3-year low"
Friday, October 3, 2008
Northern Gold Mining Inc. reports its annual meeting of shareholders on Monday 30 September 2008 at its headquarters in Toronto, Ontario. Northern Gold continues its intensive drill program on two projects. With two drills located on its Kirana Project in Kirkland Lake, Ontario, 56 holes have been completed to date. This includes 38 holes on [...]
Continue reading "Northern Gold reports annual meeting & exploration update"
Tuesday, September 30, 2008
Thomas Financial News reports the world’s largest gold-backed exchange-traded fund, New York’s SPDR Gold Trust jumped by around 30 tonnes on Monday which is the 2nd biggest in one day. Total holdings jumped to over 750 tonnes — about a third of global gold mine output — which appeared to be a new record high, and [...]
Continue reading "SPDR Gold Trust holdings surge 30 T to record -source"
Thursday, September 25, 2008
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 [...]
Continue reading "Gold pulls back as investors mull rescue plan’s fate"
Thursday, September 25, 2008
EcuaGold Resources reports its subsidiary, ColombiaGold Resources S.A. has signed a LOI to enter a JV in Colombia. CGR signed a 90-day Exclusivity Agreement with the Concessionaires in June 2008, and based on work done to date, CGR has identified seven mesothermal quartz veins on the Santa Cruz concession and six mesothermal quartz veins on the Palmichala concession. CGR [...]
Continue reading "EcuaGold signs LOI to enter into a JV in Colombia"
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Friday, October 17, 2008