RTT News reports gold prices moved higher as traders move towards a safer investment. December gold moved to $918.30, up $36.80 on the session. The metal hit a 10-day intraday high of $924.90. The Federal Reserve slashed its benchmark interest rate by a 50 basis points to 1.5 percent. A number of other central banks [...]
Reuters reports gold prices in India eased on Monday. In the local market, demand was still thin as buyers stayed away on hopes for further fall, they added. “Another 5 percent fall from current levels will make people buy gold again,” said Daman Prakash, director of MNC Bullion Pvt Ltd, a wholesaler in Chennai. For complete [...]
By Dave Brown – Exclusive to Gold Investing News On Friday, the U.S. Labor Department released figures indicating that payroll records fell by 159,000 in September, the biggest decline in five years. The unemployment rate remained constant at 6.1 per cent, which had already appreciated from April’s levels of 5 per cent. As if they [...]
Tao Minerals, Ltd. reports an update on its status of one million financing arrangement. Tao and the lender of the $1,000,000 financing previously announced in a news release dated April 10, 2008 have jointly agreed to the cancellation of that agreement. Due to the cancellation of the agreement, Tao will not be filing the registration [...]
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 [...]
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 [...]
FT.com reports investors in gold-backed exchange-traded funds (ETFs) have accumulated a record 1,039.68 tonnes of bullion which makes them the largest holders of gold. Spot gold prices yesterday hit a peak of $908.8 an ounce, the highest level in seven weeks. Bullion eased later to $889.80, down from Monday’s last quote in New York of $900.20. Gold [...]
Tara Gold Resources Corp. reports an update on its current pipeline of nine near production and exploration projects in Mexico. Tara Gold is currently focused on closing the San Miguel sale; start-up of Gold/Silver/Copper production at Lluvia de Oro; start-up of Zinc/Lead/Silver production at Don Ramon and Lourdes; and assessing opportunities to advance Picacho and [...]
AP via Yahoo! News reports gold prices gain the highest in a day gain ever in terms of the dollar. Gold for December delivery rose as much as $90.40, or 11.6 percent, to $870.90 an ounce in after-hours trading on the New York Mercantile Exchange after jumping $70 to settle at $850.50 in the regular session. For [...]
Shoshone Silver Mining Company reports it has agreed to sell its California Creek claims located near Elko, Nevada to Bayswater Uranium Corporation, Vancouver, BC. Upon completion and approval of this agreement by the TSX Venture Exchange, Shoshone Silver Mining Company will receive 200,000 shares of Bayswater common stock. Shoshone Silver Mining’s President, Lex Smith states: “Shoshone’s sale [...]
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