The wreck of a World War II-era British cargo ship, whose holds are believed to be filled with seven million ounces of silver, has been discovered approximately 4,700 meters below the surface of the North Atlantic Ocean. At today's value, the cargo is worth in excess of $200 million.
Gold will continue to serve as a hedge against risk on a longer-term basis despite recent falls, given the lack of other safe-haven assets to protect investors against global economic uncertainty, a manager at Stenham Asset Management said.
Gold prices recovered from huge overnight losses Monday before paring losses to about 1 percent. Still in the last three days the precious metal has now lost more than 9 percent of its value in its biggest three-day drop since 1983.
European stock index futures fell on Monday, following a slump in Asian shares, and the euro slid amid skepticism that Europe's latest efforts to contain its sovereign debt crisis can prevent it from wreaking more damage on the world economy.
In years past, gold often acted as a safe haven when stocks were falling, and it hit a record in August while equities struggled. Now, however, it's mired in its worst selloff in decades. What does it mean for investors who see gold as a core portfolio holding?
Gold prices seem to have lost their golden touch in September, falling from a high of $1,920 per ounce to $1,650, a drop of 14 percent.
Gold crashed more than $100 lower on Friday as a slide turned into a freefall, with weeks of volatility, renewed strength in the dollar and talk of hedge fund liquidation wrecking its safe-haven status.
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.
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.
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.
After gold's 10-year winning streak shattered all but the most bullish forecasts, it takes a brave man to call for a correction. It takes an even braver man to do so at the year's biggest bullion conference.
Gold lost its appeal as a safe haven on Monday, falling over 2 percent as fears of a Greek debt default and larger euro zone problems drove investors into bonds and the dollar.
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.
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.
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.
Impala Platinum, the world's second-largest producer of the precious metal, said on Thursday a Zimbabwe government threat to remove the licence of its unit in the country Zimplats' had fallen away.
Gold prices slipped below $1,800 an ounce on Thursday as stock markets extended gains, with assurances from Germany and France about keeping Greece in the euro bloc boosting appetite for assets seen as higher risk at the precious metal's expense.
Toronto's main stock index pushed higher on Tuesday morning, following a steep sell-off in the previous session, as U.S. oil prices rose and Wall Street rallied on strength in the banking sector.
Gold prices steadied in volatile trade on Tuesday after briefly extending the previous session's 2.5 percent slide below $1,800 an ounce, as the dollar's gains versus the euro put fresh pressure on the precious metal.
Surging auto sales in China could give a lift to palladium, a precious metal that has a critical industrial function in the catalytic converters of cars and trucks.
Silver and gold both fell Friday but the white metal was off proportionately more because unlike gold, which is a pure play store of value, silver has a significant and growing role in various industrial applications.
The precious metal that we see on earth today has come from the sky, claimed the geologists from the University of Bristol.