Gold reached a new high of $1,829.70 in Thursday trading on increasingly bleak economic forecasts from Morgan Stanley, Goldman Sachs and Deutsche Bank AG. In the US, Morgan Stanley announced that it downgraded its global growth forecast for 2011 from 4.2 percent to 3.9 percent. Goldman Sachs also lowered it’s GDP growth forecasts, anticipating 4.0 [...]
Pan American Silver Corp. declared a steep growth in silver and gold output for the second quarter ended June 2009 although net income of $10.2 million or $0.12 per share in the second quarter of 2009 was half of the net income of $21.4 million or $0.26 per share generated in the second quarter of [...]
Gold demand surged 14% in value terms, but fell 8% in volumes on April 27, when Akshay Tritiya dip, from the previous year’s occasion. Data from World Gold Council, an organisation founded by the world’s major gold mining companies, pegged sales at Rs 7,280 crore, against Rs 6,359 crore in 2008. For full story, click [...]
Gold collection under India’s five exchange-traded funds surged by 27.5 per cent on year to 5.02 tonnes in March, data collected from fund houses showed. Arvind Chari, a fund manager at Quantum Mutual Fund, which offers a gold ETF, stated: This growth is reflective of the fact that more investors are investing in gold and [...]
Minera Andes has highlighted its potential for growth in the gold industry this year, despite reporting a net loss of $7 million for the 12 months until December 31st 2008. For full story, click here
By Kishori Krishnan Exclusive To Gold Investing News With friends like these, who needs enemies? Silver and gold have a new best friend amongst their midst – Ben Bernanke. His pronouncement has engineered one of the last decade’s most dramatic turnarounds, with gold price leaping nearly 60 bucks and silver joining in the melee with a [...]
With gold prices touching record highs this week and mining costs in decline, gold producers talked up expansion possibilities and tried to sell potential investors on new projects. For more information, click here
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