South Africa is in the midst of a massive waves of strikes by tens of thousands of workers across many industries which threaten to paralyze the national economy.
Merger news and strong demand from Europeans lifted gold and silver prices Monday, as well as shares of the companies that mine the precious metals.
The chief executive of Harmony Gold, Africa's third largest gold producer, said on Monday he remained committed to a 2015 output target of 2 million ounces despite a decline in production over the last financial year.
Silver prices and the shares of silver mining companies rose Monday along with the price of gold and the broader U.S. stock market.
The Swiss franc dropped to two-week lows against the euro and dollar on Monday on speculation the Swiss National Bank could further act to curb strength in the currency by setting an exchange rate target as early as this week.
Tanzania plans to conclude negotiations with mining companies early next month to allow the government to raise royalty payments on gold exports to 4 percent from 3 percent.
Gold prices eased for a third session on Monday as stock markets and cyclical assets such as industrial commodities continued to recover from a rout they suffered early last week, diverting investment away from the precious metal.
Gold and silver prices rose Monday in early U.S. trading as Europeans bought unusually large volumes of the yellow metal.
Many stars including Justin Bieber, Kim Kardashian, Tyra Banks, Victoria Justice, Nick Cannon, Will Ferrell, Kerry Washington, and of course, Demi Lovato came out to the Do Something Awards in LA on Aug. 14. The show was hosted by Jane Lynch from "Glee," and celebrated people under 25 who help out their community and world around them through various social activities. Some of the celebrities were receiving awards in various categories while other were presenters.
Commodities saw volatile movement last week, driven by intensifying talk of U.S. double-dip recession, spreading of sovereign crisis from the European periphery to core economies, speculations of U.S. Fed's easing measures, and supportive macro-economic data.
Newcrest Mining , the world's No.3 gold miner, plans to focus on expanding in Asia, where it will spend A$9 billion ($9.3 billion) to boost its gold output by 50 percent over the next five years.
Many stars including Justin Bieber, Kim Kardashian, Tyra Banks, Victoria Justice, Nick Cannon, Will Ferrell, Kerry Washington, and of course, Demi Lovato came out to the Do Something Awards in LA on Aug. 14. The show was hosted by Jane Lynch from "Glee," and celebrated people under 25 who help out their community and world around them through various social activities. Some of the celebrities were receiving awards in various categories while other were presenters.
Brigus Gold Corp. swung to a profit in the first half of the year on a huge jump in production, lifting shares Monday of the Canadian mining in premarket trading.
Asian equities bounced on Monday and safe-haven assets like gold and the Swiss franc fell as market players cautiously returned to pick up bargains after last's week wild ride, though concerns over the weak global economic outlook may keep gains in check.
Harmony Gold, the world's fifth largest gold producer, reported a 67 percent drop in quarterly profits that fell short of market expectations as power rates and the costs of a troubled asset it recently bought took a bite from its earnings.
With recession fears weighing on equity markets, resource investors would do well to steer clear of speculative Canadian mining plays and put their cash into producing miners with strong balance sheets.
San Gold Corp's quarterly loss nearly halved helped by higher production and soaring bullion prices.
Gold prices eased for a third session on Monday as stock markets and cyclical assets such as industrial commodities continued to recover from a rout they suffered early last week, diverting investment away from the precious metal.
The continuing sovereign debt crisis in the eurozone and S&P?s downgrade of the U.S. credit rating have increased the safe haven demand for gold and the prices have reached new highs. But investors remain skeptical whether there could be further rally in the price.
Asian equities bounced on Monday and safe-haven assets like gold and the Swiss franc fell as market players cautiously returned to pick up bargains after last's week wild ride, though concerns over the weak global economic outlook may keep gains in check.
President Barack Obama honored the Green Bay Packers on Friday for winning the Super Bowl despite being a die-hard fan of the team's long-time rival to the south, the Chicago Bears.
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