Spot Gold Soars to All-Time Nominal High
Spot gold soared to an all-time high above $1,910 on Tuesday, scoring a record top for a fourth consecutive session, as persistent worries about global economic growth burnished bullion's safe-haven appeal.
H&T Group PLC Results Boosted by Surging Gold Price
Pawnbroker H&T Group Plc said it expected full-year results to be above the top end of current market expectations, driven mainly by surging gold prices that boosted its first-half pretax profit.
Hochschild Mining Posts Strong 1H Results
Latin American precious metals miner Hochschild Mining posted its highest-ever first-half profit, driven mainly by strong gold and silver prices, and said it was on track to meet its full-year production target.
Vietnam OKs Import of Gold by Domestic Firm
Vietnam's central bank has authorized at least one domestic firm to import more gold to help cool soaring prices and state-run newspapers said it may open the market to unlimited imports to narrow the gap between local and world quotes.
Shanghai Gold Exchange to Admit Aussies, Kiwis
Australia and New Zealand Banking Group's China unit has received regulatory approval to trade gold futures on the Shanghai Futures Exchange, it said on Tuesday, becoming the second foreign bank allowed access to the country's gold futures market.
Gold Settles Back After Breaking through $1,900
Gold prices retreated more than 1 percent from record highs on Tuesday as a recovery in appetite for assets seen as higher risk, such as stocks, took the steam out of a rally that many saw as overdone above $1,900 an ounce.
Shanghai Gold Exchange to Raise Gold Margins
The Shanghai Gold Exchange said on Tuesday that it will raise trading margins on three gold spot-deferred contracts to 12 percent from 11 percent from Aug. 26 to limit trading risks following recent wild price swings.
Gold Price Cracks $1,900: New Record on Safe-Haven Buying
The price of gold ripped past $1,900 per ounce Monday, boosted by fears of enough wealth-destroying developments to erase any doubts that the world's oldest safe-haven investment is still the world's No. 1 safe-haven investment.
Gold Sets New Record on Safe-Haven Buying
Gold set a new record Monday as investors fled stocks, weakening currencies and U.S. Treasuries for the safety of gold and gold-related assets.
Sputtering Global Economy Keeps Gold Near $1,900
Gold rallied almost 2 percent to a record near $1,900 an ounce on Monday as a sputtering global economy boosted expectations for further monetary easing, raising bullion's appeal as a hedge against inflation.
Canada's Silvercorp Buying Chinese Assets
Canada-based Silvercorp Metals Inc. said Monday it is buying a controlling share of Zhongxing Mining Co. Ltd. and Chuanxin Mining Co. Ltd. for $10.4 million.
Gold's Bull Market Has Room to Run: UBS Analyst
The current bull market in gold is broadly based, not the result of speculators, and the rally has more room to run, a UBS analyst said Monday.
How Much Gold Does Libya Have?
Sure Libya has one of the richest oil reserves in Africa, but it's got gold, too ... and lots of it.
Silver Mining Companies Jump 5% to 7%
Silver company shares led mining stocks higher Monday with many of the major companies posting gains between 5 percent and 7 percent.
Analysis: Gold Shines As Swiss Franc Fades
Moves by the Swiss National Bank to curb strength of the Swiss franc will fuel investors' insatiable demand for gold, adding to its relentless rise to new record highs as confidence in the franc as a safe store of value dwindles.
3 Reasons Why Silver is Set for a Price Breakout
Silver is set to sling-shot higher as it plays catchup to gold, creating big opportunities for investors, according to silver bulls.
Gold Hits Record High As Investors Abandon Alternative Safe Havens
The price of gold shot up to a record high Monday as traders abandoned other safe haven investments -- the ones governments can control -- for the world's oldest and most independent form of wealth.
European Stocks Higher, in Light Volume; Oil Stocks Helping Gains
Investors tucked into beaten down oil stocks, helping lift Europe's leading shares on Monday after a sharp retreat the previous week, while gold issues drew interest amid lingering worries about global growth.
Silver Jumps Nearly 2 Percent in Early Trading
Silver jumped early Monday by nearly 2 percent in what investors in the white metal hope will be the start of a rally that may resemble what gold has been experiencing.
Gold Price Just $2 Shy of Record High $1,900
The price of gold early Monday came within $2 of a record high $1,900 per ounce before settling back to 1.2 percent gain over Friday's closing price as a host of global economic worries drove investors into the security of the world's oldest form of money.
Surging Gold Mining Company Stocks Lift London Exchange
Miners helped Britain's bruised FTSE 100 stage a recovery on Monday, with Randgold Resources boosted by bullish gold prices and broker comment, and Anglo American up as it considered a bid for Australia's Macarthur Coal.
Gold Near Record High $1,900
Gold prices rallied toward $1,900 an ounce on Monday as concerns over the global economic outlook fueled interest in the precious metal as a haven from risk and due to talk that weak U.S. growth could spark a further round of monetary easing.
Indian Gold Buyers May Scale Back Purchases - Analyst
Gold buyers in India, the world's largest consumer of the yellow metal, are investing in it on expectations prices may rise, but imports are likely to fall as limited budgets buy less gold, the head of India's biggest importing bank told Reuters on Saturday.
5 Reasons Gold May be a Bubble Ready to Pop
The higher gold climbs the more intense the debate between bulls and bears, those who think the yellow metal has a long way to run before it even approachs its 1980 inflation-adjusted high of $2,400 and those who say the latest nominal record of $1,852.20 is just waiting to pop.
Unpredictable, Increasing Govt Intervention Hobbles Business Initiatives - Study
Grant Thornton International, a global accounting and consulting firm, is warning that the worldwide mining sector faces an uncertain future in the shadow of increasing and unpredictable government intervention.
SA Miners Reject Second Anglo American Platinum Offer in Two Days
South Africa's National Union of Mineworkers said Anglo American Platinum (Amplats), the world's largest platinum producer, again raised its wage offer on Friday, trying to head off a strike that could cause a jump in global prices of the precious metal.
Got Gold? Want Gold? Beware of Counterfeiters
With gold prices vaulting 30 percent so far this year pawn shops and rare coin dealers are doing a land office business ... and close behind are the bad guys.
Fearful Friday: Gold, Silver Surf Global Angst to New Heights
From dawn in Tokyo to dusk in New York on Friday, fear lifted gold to a record high -- its fifth such day in a row -- and boosted silver, too, as the world's investors succumbed to the accumulated effect of one emerging danger after another.
Gold, Silver Rise as Investors Seek Safety
Gold and silver prices rose dramatically early Friday as investors fled crumbling Asian and European stock markets, but later in the session some of those early gains disappeared as investors began buying heavily discounted tech stocks.
Stocks Rise as Tech Leads Market Higher
Investors started buying beaten-down stocks Friday, especially in the tech sector, to lift the Nasdaq composite index into positive territory and shortly thereafter boosting other major indexes.
