Mineweb reported that Standard & Poor's Financial Services LLC has lowered its rating for drilling company Boart Longyear Ltd. (ASX:BLY) in part due to its view that gold, copper and iron prices will not improve this year or in 2015.
Articles Tagged "gold price"
Gold was unchanged at $1,335.30 an ounce on Wednesday as the Ukraine crisis cooled and investors awaited U.S. data on the strength and progress of the economy, according to Reuters.
This morning, as tensions in Ukraine receded, gold fell 1.3 percent, or $17.34, to $1,333.50 an ounce. Meanwhile, US gold futures for April delivery were down $16.70 an ounce, to $1,333.50.
Mining Weekly reported that in February, the US Mint sold 31,000 ounces worth of American Eagle gold bullion coins. That's a 60-percent decline from the 80,500 ounces it sold in the year-ago period.
This morning, gold gained more than 1 percent, or $17.85, to trade at $1,343.64 an ounce. Meanwhile, gold futures for April delivery rose 1.73 percent, or $22.90, to hit $1,344.50 per ounce.
A draft research paper states that unusual trading patterns around 3:00 p.m. in London show that the London gold fix may have been manipulated for the past decade.
Bloomberg reported that gold's recent price increase has put the US Mint on track to record its worse month of gold coin sales since September.
Gold fell 0.6 percent, or $7.99, to $1,332.60 an ounce today. Earlier in the session, it hit $1,345.35 an ounce, its highest price since October 30.
Reuters reported that Newmont Mining Corp. (NYSE:NEM) intends to cut as many as 600 jobs at its Ghana-based gold mine by this June. Its reasons for doing so include an "ageing facility and slumping gold prices."
Mineweb reported yesterday that although gold has performed well in February, a month that is historically not good for the metal, UBS AG (NYSE:UBS) expects its luck to run out in March, also typically a poor month for gold prices.