Mike Obel

Iamgold Corp., a Canadian gold producer, said Tuesday it paid $10 million for a 13.2 percent stake in Tolima Gold Corp., which holds interests in Colombia's most prolific gold belts.

The balance sheet of the Eurosystem of central banks hit a new high last week, while gold and gold receivables held by euro zone central banks remained unchanged at 419.822 billion euros in the week ending Dec. 2, European Central Bank data showed on Tuesday.

Gold prices fell Tuesday on a lack of Asian demand for bullion and investor discouragement that four consecutive daily efforts to push the price convincingly above the mid-$1,700s failed.

Ecuador's government and Kinross Gold Corp. reached an agreement in principle on terms of the Canadian company's plan to produce gold from the country's Fruta del Norte deposit.

Gold prices fell Monday after European leaders and Italy's new head of state produced specific plans for containing their sovereign debt crisis.

Peruvian President Ollanta Humala declared a state of emergency late on Sunday to quell protests against Newmont Mining's $4.8 billion Conga gold mine project that have hobbled the region of Cajamarca for 11 days.

Production at Gold Fields Ltd.'s Cerro Corona gold mine in Peru has not been affected by a nearby protest against another large mining venture, the South African company said Monday.

U.S. derivatives market CME Group will allow international investors to use China's currency as collateral when trading futures contracts, starting next month.

Gold prices barely moved Monday, as weak physical buying and easing investor interest offset anticipation of good economic news from the U.S. and hope that this week's big European meeting aimed at solving the debt crisis will not disappoint.

Gold prices concluded a stellar week Friday with a modest gain as prospects of fresh support for weak Eurozone members and short covering offset profit taking.

Simone Bora is contemplating the unthinkable -- an Indian wedding without lavish amounts of gold after record high prices and a sinking rupee have dimmed her hopes of sparkling at the party. We need to think whether to buy gold or not because nearly 30,000 rupees for 10 grams is too much, Bora said in a jeweler's shop in Zaveri Bazaar in Mumbai, one of the world's biggest gold markets. Thirty-thousand rupees is $580.

Silver Bull Resources Inc., a Canadian company that explores for silver, said Friday a stock offering resulted in proceeds of nearly $7.53 million, most of which came from Coeur d'Alene Mines Corp., a large U.S. silver producer.

The Toronto Stock Exchange has given notice to Gold Reserve Inc. that it does not meet the bourse's listing requirements since Venezuela expropriated the company's main asset, Gold Reserve said Friday.

Fitch Ratings says OAO Severstal's (Severstal) decision to separate Nord Gold N.V. (Nord Gold) is neutral to its ratings.

South Africa's National Union of Mineworkers said on Friday it had sealed a 2-year wage deal with Lonmin, averting a possible strike against the world's third largest platinum producer.

Palladium prices are on a tear, with the white metal rocketing up more than 10 percent in the last week on growing optimism about European and U.S. economic prospects.

The spectacular bull run in gold prices is unlikely to end soon, with bullion retaining its appeal in 2012 due to the uncertain global economy, analysts and industry officials said on Friday.

Yukon-Nevada Gold Corp said the U.S. federal mine regulator put its Jerritt Canyon mill on safety watch list for alleged violations.

Teenage girls pose for pictures beside the latest arrival in Mumbai's modern Phoenix Mills mall -- a gold ATM machine selling jewellery and $600 gold coins -- but for more than just window-shopping, it faces stiff competition from traditional stores.

Russia's MMC Norilsk Nickel, the world's largest palladium producer, will sharply cut sales from its stockpile in the next two years before ending them altogether in 2014, a company executive said Thursday.

Gold prices slipped modestly Thursday as investors booked profits from this week's 3.3 percent rally in the yellow metal.

HSBC Securities is raising its forecast for the average price of silver in the next two years on strong retail investment demand and a narrowing market surplus.

Gold prices climbed to a nearly two-week high Thursday, along with other risky assets, after the world's richest central banks jointly pledged to make it easier for the Eurozone's acutely stressed banks to obtain funding.

Gold shot higher Wednesday after the world's top central banks launched a coordinated plan to provide liquidity to struggling Eurozone banks and China did likewise for its banks.

Billionaire philanthropist and investor George Soros is seen investing at least $50 million to subscribe for shares in the initial public offering of Chow Tai Fook Jewellery Group Ltd, Ming Pao Daily News reported on Wednesday citing sources close to the deal.

Newmont Mining has temporarily suspended work on its $4.8 billion Conga gold project to calm violent protests and restart talks with the local community, the company's Peru chief said late onTuesday.

Morgan Stanley said it prefers exposure to gold, silver and livestock in the coming year, as such commodities perform well in a global economic slowdown.

Severstal, Russia's biggest steelmaker, is set to spin off its Nord Gold unit and could list the standalone business in London, less than a year after being forced to pull a planned $1.5 billion public offering.

Precious metals prices jumped Wednesday, with palladium surging nearly five percent, after the world's top central banks announced a coordinated rescue of the Eurozone's rapidly deteriorating finances.