Gold prices fell on Friday, extending the previous session's retreat from record highs as fresh strength in equity markets and gains in the euro versus the safe-haven Swiss franc pointed to sharper appetite for risk.
Toronto-based Primero Mining Corp., a precious metals producer, said Friday it expects its common shares to begin trading on the New York Stock Exchange on Monday under the symbol "PPP."
WestMountain Index Advisor Inc. said Friday it has begun a drilling program at its flagship Bonanza Terra Gold Project, which has the potential to produce more than one million ounces of gold, in Alaska.
An anorexic under doctor's orders to put on weight might fret unnecessarily about getting fat one day.
With the wild ride on the world's markets enough to give even the most seasoned investors the jitters, everyone is talking about gold.
Mining company European Goldfields, which secured a long-awaited Greek permit last month, posted a narrower pretax loss for the second quarter and said it had made "major progress" with its Olympias project, on track for first production next year.
Handing out flyers at the corner of 47th Street and Fifth Avenue in New York City's Diamond District, Mariabi Peenya is having trouble finding passersby eager to sell their gold jewelry for cash.
A surge in prices to all-time highs has galvanized the French retail gold market, for long a dusty corner beloved of coin investors, drawing in ordinary punters but also the unwelcome attention of armed robbers.
Gold prices eased in Europe on Friday, extending the previous session's retreat from record highs, as fresh strength in equity markets and gains in the euro versus the safe-haven Swiss franc pointed to sharper appetite for risk.
European stock markets rose on Friday as a ban on short-selling financial shares prompted investors to creep back into battered banking shares, although concerns over the health of French banks kept the mood edgy.
Spot gold reversed early losses, putting it back on track for its best week since January 2009 as worries about the euro zone debt crisis and global growth drive investors to safe havens.
Gold eases off the session's record highs after the CME Group raised margins on COMEX gold futures, but turmoil in the global financial markets and fears of slower growth buoyed sentiment.
Asian stocks edged up on Friday, as investors hunted for value after an intense week of volatility, though the festering European financial crisis may mean that havens like gold and the Swiss franc may still draw buyers.
Gold recoiled after tapping a new record on Thursday, tumbling more than 2 percent as an equities rebound and higher trading margins fanned profit-taking from the biggest rally since 2008.
Oil is likely to remain weak in the short term due to the sluggish global economy, while gold reaches new peaks on its increasing safe haven appeal and an expected further easing of U.S. monetary policy, a London-based fund manager said.
Which is a better way to battle the capital market blues: the Swiss franc or Frank Sinatra?
Gold and silver settled lower Thursday after investors returned to stocks amid encouraging news from the Labor Department and stricter margin requirements from the CME Group Inc., which runs US futures markets.
South African stocks added more than 3 percent on Thursday, the biggest daily percentage increase in 15 months, boosted by sentiment generated by better-than-expected U.S. labour market data.
Pan American Silver Corp. said Thursday it swung to a profit in the April through June quarter on higher metal prices.
Shares of gold mining companies fell Thursday as the broader stock market rebounded on bargain hunting and encouraging US jobs data.
Royal Gold Inc., which holds royalty interests in gold producing properties, said Thursday net income for the April through June period jumped 106 percent as new properties began commercial production and a labor dispute ended.
Gold slid from record highs Thursday as investors cashed in some of the previous session's near 3 percent gains after U.S. stocks opened higher and following a move by CME Group to hike margins for trading COMEX gold futures.
