Gold Prices Lifted, Lowered by Global Forces
Gold prices hovered in a tight range Thursday as bullish and bearish forces pinned the yellow metal to a virtual standstill.
Eagle Plains Resources Spinning off Yellowjacket Gold Project
Eagle Plains Resources Ltd. said Thursday it plans to spinoff its Yellowjacket Gold Project, located in northwestern British Columbia, to a newly formed unit.
Zambia's New Govt Wants More of Foreign Miners' Revenue
New Zambian President Michael Sata fired his respected central bank governor on Thursday and his new mines minister floated plans to boost tax receipts from mining companies, rattling investors in Africa's biggest copper producer.
Gold Prices Rise in Choppy Trading
Gold prices rose on Thursday in choppy trade, with strong physical demand and gains in the euro lending support, but investors remained cautious towards the precious metal after this month's intense volatility.
Silver Mining Stocks up after More German Support for Eurozone Bailout
Silver mining company shares rose solidly Thursday, even though the price of silver itself was up a mere 0.4 percent.
Strikers Halt Work at Rio Alto Mine in Peru
Small Canadian miner Rio Alto Mining Ltd said on Thursday a strike has halted mining activities at its La Arena gold mine in Peru temporarily.
UC Berkeley Bake Sale: Opposition Building
UC Berkeley's provocative bake sale by Republican students, a poke in the eye of the university's politically correct establishment that recalls the school's free speech legacy, has sparked top-down opposition from university officials and student government leaders.
Sylvania Platinum Seeks OK to Mine in South Africa
Australia-based Sylvania Platinum Ltd. said Thursday it applied for a permit to mine in the northernmost part of South African.
Fed Chairman Bernanke Suggests More Intervention
Federal Reserve Chairman Ben Bernanke said on Wednesday the central bank might need to ease monetary policy further if inflation or inflation expectations fall significantly.
Gold Prices Pare Losses after Overwhelming German OK of Bigger Bailout Fund
Gold prices held steady Thursday after German lawmakers, by a surprisingly large majority, accepted a bigger financial burdern in bailing out weak Eurozone economies and strong Asian demand for physical gold offset a weaker dollar.
Euro Gains on Dollar After Germany Bailout Fund Vote; Skepticism Remains
The euro rose against the dollar on Thursday as the German parliament approved the euro zone rescue fund's new powers, though Skepticism over the lack of a comprehensive plan to deal with the region's debt crisis was seen to be checking gains.
Indonesian Miners Protest Outside Govt Office in Freeport Row
Up to 1,500 striking workers at Freeport McMoRan Copper & Gold Inc.'s giant gold and copper mine in Indonesia's remote Papua province protested outside a government office on Thursday, urging authorities to help end a dispute over pay.
Mongolia's Mining Contract Redo Has Risks & Rewards - Analysts
Mongolia's quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.
Ardent Mines Aims to Buy Brazilian Mineral Rights Next Month
Ardent Mines Ltd. expects to buy mineral rights in north-central Brazil next month, the U.S.-based company said Wednesday.
Banro to Start Gold Production in Congo on Oct. 10
Canadian gold mining company Banro will start producing gold at its Democratic Republic of Congo mine on Oct. 10, ramping up output to 120,000 ounces per year by January, the company said on Wednesday.
AngloGold Ashanti to Invest $250M/Year in Brazil
South African gold miner Anglogold Ashanti will invest $250 million each year through 2016 to raise its Brazilian output of the precious metal by two thirds, its chief executive said on Wednesday.
Gold Prices Slump 2 Percent ahead of German Vote on Bailout Fund
Gold prices slumped 2 percent Wednesday as investors braced for a key vote on the future of the European bailout fund and readjusted portfolios ahead of the fourth quarter.
Zimbabwe's PM Knocks Indigenisation Policy
Zimbabwe is hurting investor confidence and stalling recovery by promoting a law to force the transfer of foreign-owned firms to local ownership, Prime Minister Morgan Tsvangirai said on Wednesday.
3 Things Holding Back a Recovery in Gold Prices
On Monday gold concluded its biggest three-day plunge in nearly 30 years, and prices struggled Wednesday under the weight of three factors -- the absence of which would sharply boost the chance of the yellow metal to resume its climb toward $2,000 per troy ounce.
Carlos Slim's Minera Frisco Cutting Silver Hedges
Mexican miner Minera Frisco, owned by the world's richest man Carlos Slim, said on Tuesday it was cutting its silver and copper hedges for this year and next, citing a significant decline in metals prices.
U.S. Mint Expected to Re-price its Silver Coins
Silver coins being offered by the U.S. Mint have been pulled from the shelf after a recent 26 percent drop in silver's value, in what is expected to be a pause to re-price the coins.
5 Reasons Gold Prices Just Took a Big Dive
Gold prices fell in the last week more than 10 percent, their longest such plunge since 1983, in a plunge that left the metal's reputation as safe-haven investment bruised, or worse.
Canada's MDN Finds Gold in Tanzania
Canadian explorer MDN Inc. said it found high-grade gold at its Nikonga project in Tanzania.
Gold Prices Stable as Fear and Greed Reach Standstill
Gold prices slipped modestly Wednesday after posting small overnight gains as investors sought a safe-haven for their money, traders picked up bargains and Asian buyers purchased coins, bars and jewelry.
Japanese Investors Stood Firm During Recent Slump
Japanese households stayed put in gold during the market turmoil this month, in sharp contrast to a selling rush when prices surged in August, reflecting gradually spreading recognition of gold as an investment asset.
Gold Rises Ahead of New Greek Talks, U.S. Data
Gold rose on Wednesday, gaining from investor unease over the lack of a solution to the European debt crisis that dented other more industrial raw materials, such as crude oil and copper, ahead of further possibly weak U.S. data.
SPDR Investors, Gold Options Traders Remain Steady
Amid the second-largest gold sell-off since 1983, the casual observer could be forgiven for thinking that investors were dumping bullion in droves.
Fed's Operation Twist: Richard Fisher's Six Objections
The Federal Reserve's new Operation Twist drew a number of objections from Richard W. Fisher, president of the Federal Reserve Bank of Dallas, who explained his opposition to the move in a speech Tuesday.
Gold Surges More Than 3 Percent on Bargain Hunting, Lower Dollar
Gold surged nearly 4 percent Tuesday on bargain hunting and increased Asian purchases of bullion, both of which were aided by a sharply lower U.S. dollar.
Gold Sales by IMF, European Central Banks Decline: WGC
Sales of gold by European central banks and the International Monetary Fund fell to their lowest annual level since an agreement governing such transactions was ratified in September 1999, the World Gold Council said Tuesday.
