Five Precious Metals Miners Bucking Stock Market Downdraft
With gold and silver prices down Monday and the bulk of safe-haven investors opting for U.S. Treasuries instead of precious metals, shares of companies that mine for gold and silver were nearly all down along with the broader stock market.
Dollar, Dollar-Related Assets Soar, Precious Metals Fall
Gold fell Monday in midday trading as investors decided to diversify their safe-haven opportunities by increasing their holdings of U.S. Treasuries, the dollar and the Japanese yen, said George Cocalis, senior market strategist for PFGBEST.
Peruvian Miners Agree to End Strike
Workers at Peru's Cerro Verde mine, which yields 2 percent of the world's copper, agreed to end an indefinite strike they began last week, but may down tools again on Sept. 27, a union leader said Monday.
European Central Banks Become Net Buyers of Gold
For the first time since 1985, European central banks have become net buyers of gold, according to data from the World Gold Council.
Polyus Gold Reports First-half Profit Double Year Earlier Result
Polyus Gold, Russia's top gold producer, reported a first half net profit of $206.8 million in the first half of 2011, nearly double year-on-year, due to a rise in the price and demand for the precious metal.
Newmont Mining Linking Dividend and Gold Price
Newmont Mining Corp. plans to boost its dividend payments to shareholders, should gold prices remain above $1,700 an ounce, the company said on Monday.
Aurizon Mines Reports High-Grade Zones in Quebec
Canada's Aurizon Mines said it has found two new high-grade gold zones at its Marban Block property in the Abitibi region of Quebec.
Silvercorp CEO Buying Shares - Regulatory Filings
Rui Feng, the chief executive of embattled miner Silvercorp , has boosted his stake in the company further, according to regulatory filings that indicate his vote of confidence in his own firm.
Gold Prices Steady as Hope for Europe Falls; U.S. Dollar Up
Gold prices held steady Monday, as concerns about Europe's sovereign debt crisis, its weak financial sector and divisions among leaders about how to solve the crises drove investors into safe-haven securities like the U.S. dollar.
India, China Driving Global Gold Demand - World Gold Council
India and China drove the second-quarter's robust demand for gold, the World Gold Council said in its analysis of industry trends during the three-month period.
Gold Price Rallies on European Concerns
Gold prices rallied on Monday after European policy makers failed to soothe fears of Greek default and contagion to other euro zone countries, prompting investors to seek refuge in the precious metal.
Agnico-Eagle Mines to Buy Grayd Resource for $279.6M
Canadian gold miner Agnico-Eagle Mines said it will buy Mexico-focused junior peer Grayd Resource Corp for about C$275 million($279.6 million) in cash and stock to focus on early stage gold projects.
Freeport McMoRan's Indonesian Workers Returning to Work
More than a thousand workers have returned to Freeport McMoRan Copper & Gold's strike-hit Indonesia mine, the company said on Monday, leading the union to say some production has restarted at the world's third-biggest copper mine.
London Bullion Market Assoc Takes Aim at Conflict Gold
The London Bullion Market Association is working out ways for refiners on its Good Delivery List to avoid falling foul of new regulations against conflict gold as a number one priority, LBMA chairman David Gornall told Reuters on Sunday.
Foreign Investors Eyeing Mongolian Gold
Foreign investors in mineral-rich Mongolia hope parliament will revoke a controversial law banning mining in the country's river and forest areas when it convenes for its busy autumn session next month.
Gold Rallies on Safe-Haven Buying, Economic Gloom
Gold rallied 1 percent on Friday in volatile trade, as the safe-haven bid for precious metals returned when a survey showed U.S. consumers gloomy about the economic outlook.
Don't Worry about Higher Royalties in Peru - Miner
A drive by Peru's leftist president to raise mining royalties should not derail multibillion-dollar investments, industry executives said, but they added that the final law must reflect the spirit of negotiations with companies.
Zimbabwean Gold Mine Reports Big Output Jump
Gold miner Mwana Africa's Zimbabwe mine output has risen to a monthly average of 4,500 ounces, outstripping its targeted annual production rate, company executives said on Friday.
Gold Prices Rise on Bargain Hunting, Safe Haven Investing
Gold and other precious metals jumped Friday on bargain hunting and a loss of faith that global central bankers will be able to contain Europe's sovereign debt crisis to Greece.
EU to Mull Stockpiling Strategic Raws Materials
The European Union will decide in the coming months whether to start stockpiling raw materials that are critical for the bloc's industrial and high-tech production, an EU spokesman said on Friday.
Silver, Platinum May be Weakest Precious Metals: Analysts
Silver and platinum may lag other precious metals in the coming months, according to analysts studying both their price movements and the broader economy.
Gold Rebounds With Other Safe Havens
Gold prices rebounded Friday, along with other safe-haven investments, literally hours after dropping sharply on word that the world's biggest central bankers were jointly moving to protect the eurozone's commercial financial institutions.
De Beers in New Contract with Botswana
Diamond producer De Beers said on Friday it had signed a new 10-year contract for the sorting, vaulting and sales of the diamond production of Debswana, its joint venture with the government of Botswana.
Indonesian Strike at Freeport McMoRan's Cooper, Gold Mine Delays Outbound Shipments
A strike involving thousands of workers at Freeport McMoRan's Indonesian copper mine and port has delayed around 133,000 tonnes of copper ore concentrate shipments, industry officials said on Friday.
Foreign Miners Being Attracted to Philippines
Foreign investors are bullish in pursuing mining ventures in the Philippines, with few signs of a slowdown in mineral demand from Asian neighbors such as China, but policy bottlenecks are hampering a faster flow of investments to the sector.
China Formalizes its Own Standard for Gold Purity
China has set its first national standard for gold at 99.999 percent purity, state media Xinhua reported on Friday, citing the National Gold Standardization Technical Committee.
Gold Falls to Two-Week Low in European Trading
Gold tumbled to a two-week low on Friday as diminishing liquidity concerns prompted a bout of selling, but lingering concern about financial stability and strong physical buying interest from Asia later helped it to recover.
South African Mine-Union Talks Stalled
South Africa's main mine workers union said on Friday separate wage talks with Exxaro Resources and Impala Platinum , the world's second-largest platinum producer, had deadlocked but strike action was not imminent.
Gold, Silver Rise in After-Hours Trading
Gold and silver prices moved higher late Thursday after posting big losses in the New York futures market.
Silvercorp Shares Jump on Stock Buyback News
Shares of Silvercorp Metals Inc., battling anonymous charges of accounting fraud, shot higher Thursday despite a downdraft among precious metals miners that battered their share prices after announcing a stock buyback and a cut in the number of shares outstanding.
