Gold Falls Hard; Silver Falls Harder
Gold prices plummeted Friday, at one point tumbling to 15 percent below the level of three weeks ago, as investors started buying stocks and, to a lesser extent, euros. Silver is now down 25 percent from its mid-week level.
World Stocks Break from 14-Month Lows
World stocks came off 14-month lows on Friday on expectations policymakers would take further action to ease the Eurozone debt crisis, while commodities fell broadly on worries about a global economic slump.
Silvercorp Metals Files Suit Against Detractors
Silvercorp Metals Inc. said Friday it is suing a group of detractors for allegedly spreading falsehoods about the company in the hope of profiting from a decline in its share price.
Gold Price Falls 3 Percent, Losing Safe-Haven Cred to Dollar
Gold prices fell about 3 percent Friday, setting up the third weekly decline for what has recently been touted as the pre-eminent safe haven.
Peru's Congress Raises Taxes, Royalties on Mining Companies
Peru's Congress raised taxes and royalties on the lucrative mining sector on Thursday, handing a legislative victory to leftist President Ollanta Humala after he campaigned on promises to ramp up welfare spending.
Spot Gold Drops to Six and a Half Week Low
Gold hit a one-month low on Friday and was set to post its sharpest weekly drop since May, hit by a sell-off in the commodities complex and with some traders citing selling in the precious metal to cover losses in other asset classes.
Gold, Cyanide and Mine Dumps - Prospects and Perils
The vast majority of South Africa's gold lies deep underground but atop the mine dumps scattered around Johannesburg, you can actually walk on the stuff.
Freeport Indonesia's Union May Extend Strike Beyond One Month
Freeport Indonesia's labour union may extend its strike at the Grasberg copper mine beyond one month, since talks with management were deadlocked, union official Juli Parorrongan told Reuters on Friday.
G20 Talks But No Specific Action
Finance officials from the Group of 20 nations on Thursday pledged to preserve financial stability and said central banks were ready to provide liquidity as needed, but a communique after the meeting offered few hints of fresh action to contain Europe's raging debt crisis or revive the faltering global economy.
U.S. Gold Futures in Steepest Loss in a Month
U.S. gold futures posted their steepest losses in a month on Thursday, dragged down by a global flight from risk that raises new questions about bullion's value as a safe haven and the sustainability of its long rally.
Commodity Investors Head for Exits
Commodity investors fled for the exits on Thursday in a panic over raw materials demand, unconvinced that Federal Reserve action will stem a global economic slowdown that shows signs of infecting China and Germany.
Gold Prices Plunge as Global Pessimism Sparks Stampede on Dollar
Gold prices plunged Thursday when investors stampeded out of precious metals, as well as stocks, into the perceived safety of the U.S. dollar.
Gold Price Down More Than 3 Percent
Gold fell by more than 3 percent on Thursday, set for its largest monthly decline since January, after the Federal Reserve's move to boost U.S. growth lifted the dollar, which battered the commodities complex.
Silvercorp Stock Buyback Reaches 4.5M Shares
China-focused Silvercorp Metals Inc said on Thursday that it has so far bought back some 4.5 million common shares worth about $35 million, as the company fights back against allegations of fraud.
Anglo Asian Mining to Start Work in Azerbaijan
Anglo Asian Mining plans to start work at the Gosha gold mine in Azerbaijan in the second half of 2012 after the successful launch of production at the neighbouring Gedabek mine, the company said in a statement on Thursday.
Commodities Falling around the World, China Weakness Cited
Commodities skidded on Thursday as investors scrambled to liquidate after a U.S. Federal Reserve warning, coupled with signs of slower growth in China and Europe, stoked worries about slowing demand for fuels and metals.
Gold Price Drops on Fed's 'Operation Twist'
Gold prices plummeted more than 3 percent Thursday after the Federal Reserve pronounced the economy seriously ill but then prescribed what many traders and analysts saw as a virtual aspirin.
Freeport-McMoRan Says Indonesian Strike Cutting Output
Freeport-McMoRan Copper & Gold Inc is unlikely to meet third-quarter sales estimates because of a strike at its vast Grasberg mine in Indonesia.
Gold Price Falls in European Trading
Gold fell on Thursday, after the Federal Reserve's widely-anticipated move to boost U.S. growth lifted the dollar but pummelled global equities and hit the entire commodities complex.
Spot Gold Slips In Asian Trading
Spot gold slipped on Thursday under the weight of a rallying dollar, after falling more than 1 percent in the previous session when the U.S. Federal Reserve announced its plan to load up long-term securities and offered a grim economic outlook.
Pakistani Province Objects to Barrick Gold-Antofagasta JV
Pakistan's Baluchistan province has objected to a mining lease being sought by a joint venture between Antofagasta and Barrick Gold, further delaying a major planned copper and gold project in the country's southwest.
Gold Fields Could Invest up to $2B in Filipino Venture
South Africa's Gold Fields Ltd. could invest up to $2 billion to develop a gold and copper prospect in the Philippines, a government official said on Wednesday, although the company said it was far too early for such estimates.
Gold Falls on Profit Taking Ahead of Fed Announcement
Gold fell on Wednesday as investors booked profits on the metal's rally earlier in the day ahead of the outcome of a Federal Reserve policy meeting that many hope will confirm the central bank's strategy to kick-start U.S. growth.
Chinese Firm Launches Second Kyrgyzstani Gold Mine
Kyrgyzstan launched its second foreign-run gold mine on Wednesday after the Chinese owners settled a dispute with local residents, raising hopes that bigger projects could follow in the Central Asian state.
Silver Price Breaks from Gold, Platinum by Rising
Silver broke from the other precious metals Wednesday, posting gains amid a general downdraft that pulled down the euro and European stocks.
South African Miners Sue Anglo American in London Court
Several hundred South African former miners have launched court proceedings against Anglo American Plc in London, the latest in a wave of lawsuits and compensation claims over lung disease that could cost the gold industry billions.
Freeport-McMoRan Says Indonesian Strike Cutting Mine Production
Freeport-McMoRan Copper & Gold Inc said the strike at its vast Grasberg mine in Indonesia has hurt production and it is unlikely to meet third-quarter gold and copper sales estimates
Gold, Silver Down Slightly as World Awaits News of Possible Fed Action
Gold and silver prices slipped modestly and the U.S. dollar edged higher Wednesday as the financial world awaited results of a two-day meeting by leaders of the U.S. central bank that was expected to result in fresh efforts to stimulate business.
Gold Steady Above $1,800 as Traders Await Fed News
Gold held steady above $1,800 an ounce on Wednesday ahead of the outcome of a Federal Reserve policy meeting at which the U.S. central bank is expected to unveil its next steps to revive the world's largest economy.
Silver Prices Seen Rising Sharply - Denver Gold Forum Participants
All that glitters is not just gold, with prices for silver also expected to strongly rise within the year due to a worsening economic landscape.
