Gold Retreats as Fund Managers Book 2011 Gains
Gold struggled Friday as fund managers booked profits on the yellow metal's gains this year, offsetting the lift it normally would have gotten from rising crude oil prices and stocks.
Gold ETF Inflows Down in '11 - Report
The inflows into gold-backed exchange-traded funds that helped drive bullion demand sharply higher during the financial crisis have more than halved this year, according to Reuters data, and are unlikely to recover in 2012 as appetite grows for other assets.
Catalyst Metals Mulls Stake in Kangaroo Flat
Catalyst Metals Ltd. agreed to evaluate a gold mine in southeastern Australia for up to 12 months with the option of acquiring a stake in the property, Catalyst said Thursday.
Gold, Euro in Tight Range, European Stocks up
Rising European stocks and a weaker dollar supported gold Thursday, but the yellow metal remained tethered to the previous day's closing price on light volume and a lack of anything that encouraged risk taking.
Gold, Stocks, Euro Pare Gains after ECB Bank Loans
Gold lost early gains Friday, along with stocks and the euro, as an unexpectedly high number of Eurozone banks queued up for low-interest loans reminded investors of just how widespread Europe's sovereign debt crisis has become.
TSX Defers Considering Crocodile Gold's Poison Pill
The Toronto Stock Exchange is deferring consideration on whether to accept Crocodile Gold Corp.'s recently adopted poison pill plan so a securities commission can consider the matter.
Afton-Ajax Needs $795M in Investments - Study
KGHM, Europe's No.2 copper producer, and Abacus Mining will need to invest $795 million in their joint Canadian copper and gold project Afton-Ajax, according to a feasibility study cited by KGHM on Wednesday.
Hecla Mining's Lucky Friday to Resume Output in Late Feb
Hecla Mining Co. aims to resume production at its big Lucky Friday silver mine in Idaho by the end of February.
KGHM, Major Copper, Silver Producer, Hikes Profit Outlook
KGHM, Europe's No. 2 copper miner, raised its 2011 net profit forecast by 16 percent on Wednesday thanks to the stronger dollar and higher silver prices and volumes.
Global Stocks, Gold Down Despite ECB Lending
Global stocks and commodities fell Wednesday as investors shrugged off heavy European Central Bank lending and eyed a troublesome U.S. earnings report.
Gold, Silver Surge on Housing Data
Gold prices rose Tuesday with other commodities and global equities on unexpected signs the U.S. housing market is turning around and continued improvement in the Eurozone.
Gold, Silver Miners' Shares Soar
Shares of gold and silver miners soared Tuesday after a surprisingly strong U.S. housing report sparked a global move toward risky assets that lifted equities, commodities and the euro.
Gold Found to Boost Solar Cell Efficiency - Study
A layer of gold nanodots on the surface of indium-tin oxide (ITO) coated glass may improve the efficiency of organic photovoltaic cells, according to new research published in the journal, Gold Bulletin.
Indian Gold Buying Down as Rupee Weakens
Gold prices in India, the world's top buyer, edged higher on Tuesday on a weak rupee and recovery in the world market, although the upside further discouraged buying, dealers said.
Crocodile Adopts 'Poison Pill, Offers Maud Creek Update
Australia-focused Crocodile Gold Corp., which is in the middle of an unsolicited takeover offer, said Tuesday a new study estimates its Maud Creek Deposit holds inferred resources of 1,072,000 ounces of gold at 2.4 gram per ton.
Gold Rises 1%, Silver up 2% on U.S., German Data
Gold prices rose more than 1 percent and silver popped nearly 2 percent Tuesday on fresh evidence the struggling U.S. housing industry is recovering plus rising German business sentiment that boosted investors' risk appetite.
Silver Mining Shares Fall As Demand Prospects Fade
Shares of silver mining companies got hammered Monday as the futures price of the metal fell on dimming prospects from China and Europe that next year will bring any improvement in demand.
Silver, Palladium Fall but Gold Stays Near $1,600
Prices for silver and palladium, the two precious metals with the most industrial applications, fell Monday on growing evidence of weakening demand from China and a possible recession in Europe.
South American Silver's In-Ground Resources Double - CEO
South American Silver Corp. said Monday its Escalones copper-gold-silver project in central Chile has inferred resources of 610,000 ounces of gold and 16.8 million ounces of silver.
Gold-Ore Resources Buying Astur Gold for $150M
Gold-Ore Resources Ltd. is buying Astur Gold Corp. in a$150 million all-stock deal that will create a gold producer focused on Spain and Sweden.
European Goldfields Sees Qatar Money as Fall-Back Option
European Goldfields, which has agreed a C$2.5 billion ($2.4 billion) takeover by Canadian group Eldorado Gold, is hoping to keep an investment deal with Qatar's sovereign wealth fund as a fall back option.
Technical Issues Delay Grasberg Workers Return
Striking workers at Freeport McMoRan Copper & Gold Inc's giant Indonesian mine delayed on Saturday until next week a plan to go back to work after a three-month strike because of technical issues, a union spokesman said.
Peru's Pres. Slips in Polls after Mine Protests
Peruvian President Ollanta Humala's approval rating fell for the third straight month in December to 47 percent after fierce protests against a mining project sparked his government's first crisis, pollster Ipsos Apoyo said on Sunday.
Gold Going beneath $1,500 in Next 3 Months - Poll
Gold prices will fall below $1,500 an ounce over the next three months and are unlikely to retest September's all-time highs until later 2012 at the earliest, according to a Reuters poll of 20 hedge fund managers, economists and traders.
Newcrest Mining Cuts '11 Gold Output Forecast
Australia's Newcrest Mining Ltd., the world's third-largest gold producer, on Monday cut its 2011 guidance for gold output to 2.43 million ounces to 2.55 million ounces.
European Goldfields OKs $2.4B Takeover by Eldorado Gold
European Goldfields, which has agreed a C$2.5 billion ($2.4 billion) takeover by Canadian group Eldorado Gold, said on Monday an investment deal with Qatar's sovereign wealth fund remained in place.
Gold Barely Moves as Chinese Demand Offsets Euro Fears
Gold prices hovered in a tight range Monday as doubts that Eurozone banks have enough access to cash and the uncertainties about the severity of the continent's recession offset physical demand from Asian buyers.
Bargain Hunting Snaps Gold's Week-Long Tumble
Gold found a bottom to bounce off Friday as investors, especially those focused on bullion, responded to the bargains emerging from this week's huge price drops.
Nigerian Stock Market to List its First Gold ETF
Nigeria's bourse is to list its first exchange traded fund (ETF) on Monday, a South African gold-backed fund that will broaden the exchange's range of products beyond equities and bonds, the stock exchange said on Friday.
Cerro Grande Mining's Yearly Profit up Sharply
Chile-focused Cerro Grande Mining Corp., which produces gold, silver and copper, swung to a profit in the fiscal year ended Sept. 30 on lower costs and higher sales.
