TomaGold Corporation (TSXV:LOT) and Quinto Real Capital Corporation (TSXV:QIT) launched a 2,500 metre drilling program on the Monster Lake gold property in Chibougamau, Quebec.
Articles Tagged "Price of gold"
Avrupa Minerals Ltd. (TSXV:AVU) released drill results from the Alvalade Joint Venture in the Portuguese Pyrite Belt. Gold and copper intercepts were found in MBV02 and mineralization was intercepted in four other drill holes.
Last year gold was seen as a safe haven that could mitigate exposure to the European debt crisis, but it is now trading in line with more traditional drivers.
As apprehension about Spain's ability to finance its debt mounts, gold prices declined this week following a drop in the euro and a rate decision from the European Central Bank.
Gold prices started off the week trading higher based on Monday’s news that Federal Reserve Chairman Ben Bernanke believes the United States' economy has to grow more quickly to reduce the unemployment rate. Overall, spot market gold prices have appreciated slightly by about 0.7 percent this week.
It has been a volatile week for gold prices, most heavily influenced on Wednesday after United States Federal Reserve Chairman Ben Bernanke gave no hints that a third round of quantitative easing was expected in the immediate future.
The Bank of England preserving its official Bank Rate paid on reserves at 0.5 percent helped the spot market price of gold to climb to $1747.50 per troy ounce. Gold prices were further supported by the Bank's vote to inject another 50 billion pounds into its financial system along with news of Greek leaders finally negotiating a deal on fiscal reforms.
Gold spot price has climbed nearly 12 percent so far in 2012, supported by positive economic data and monetary policy guidance in the US.
Ansell Capital Corporation (TSXV: ACP) is a publicly traded mining exploration company focused on exploring and developing Canadian gold and silver properties.
Centerra Gold sees continued pressure from wage inflation and higher oil prices in 2012. VP of Investor Relations John Pearson said they are trying to cut costs and increase efficiency.