Gold prices slipped modestly Wednesday as stock investors in Europe and the U.S. dumped their holdings and abandoned the euro in a global stampede to safety.
Rare yellow diamond will go up for auction.
AngloGold Ashanti , the world No. 3 gold miner, reported record-breaking quarterly earnings on Wednesday, beating forecasts as bullion's bull run filled its coffers.
A four-hour power cut hit Zambia's capital and main mining region on Wednesday, although it was not clear what if any impact there was on output from Africa's biggest copper producer.
The chief executive of AngloGold Ashanti said the world's No. 3 gold producer could employ deep-mining technology under development in South Africa in other countries, with future ore discoveries expected to be far below the surface.
South African stocks posted their biggest one-day loss in five weeks on Wednesday, dropping 2.3 percent as fears about the outlook for Italy's debt crisis pushed investors to sell off recent gainers such as miners and banks.
A one-day protest by communities in the northern region of Cajamarca on Wednesday against Newmont's $4.8 billion Conga gold project was peaceful and did not hurt mining operations, the government and the company said.
The chief executive of AngloGold Ashanti said the world's No. 3 gold producer could employ deep-mining technology under development in South Africa in other countries, with future ore discoveries expected to be far below the surface.
Gold and silver mining company stocks rose Wednesday, defying a global downdraft in equities and underscoring the traditional role precious metals have as a safe haven for investors.
Global markets stampeded Wednesday after the bond market signaled that Europe's third-largest economy can no longer survive without a rescue.
The major European bourses are down anywhere from 2.0 percent to 2.6 percent.
Toronto's main stock index looked set to open lower on Wednesday, hurt by weaker commodity prices as doubts about Italy's ability to tackle its debt problems persisted even after Prime Minister Silvio Berlusconi pledged to resign.
Silver Wheaton Corp.'s third-quarter profit doubled as the selling prices of gold and silver soared and sales volume jumped.
Canadian miner Timmins Gold Corp (TMM.TO: Quote) swung to a second-quarter profit as it sold more gold at higher prices.
Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.
Gold prices slipped Wednesday as skyrocketing Italian government bond yields signaled the beginning of a possibly terminal phase in that nation's economy.
Italian borrowing costs reached the breaking point Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.
India gold slipped from its morning high on Wednesday, as investors chose to take profits after a rally that took it to a more than two months high triggered by safe haven buying.
European shares looked set to follow Asian equities higher Wednesday and the euro steadied after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms that may keep Europe's debt crisis from spreading.
When artists break free from the bands that have always defined them to take up solo careers, some celebrate their emancipation with radical musical departures. Others adhere to the old group's sound as much as possible, either out of fear, habit, or a desire to prove once and for all that they were the brains of the band.
Tracey Gold will host the controversial Lifetime show
Jamaican reggae fusion singer-songwriter Diana King released her new album AgirLnaMeKING on Tuesday, the same day she celebrated her 41st birthday.