Canadian explorer MDN Inc. said it found high-grade gold at its Nikonga project in Tanzania.
Gold prices slipped modestly Wednesday after posting small overnight gains as investors sought a safe-haven for their money, traders picked up bargains and Asian buyers purchased coins, bars and jewelry.
Japanese households stayed put in gold during the market turmoil this month, in sharp contrast to a selling rush when prices surged in August, reflecting gradually spreading recognition of gold as an investment asset.
Gold rose on Wednesday, gaining from investor unease over the lack of a solution to the European debt crisis that dented other more industrial raw materials, such as crude oil and copper, ahead of further possibly weak U.S. data.
Amid the second-largest gold sell-off since 1983, the casual observer could be forgiven for thinking that investors were dumping bullion in droves.
Asian stocks edged higher and a rally in the euro stalled on Wednesday, as investors looked for more signs that European leaders were tackling a debt crisis that threatens the financial system before committing bolder market bets
Gold slipped 1 percent in volatile trade on Wednesday as the U.S. dollar regained strength on doubts over the progress of Europe's efforts to tackle the region's debt crisis, while this week's brutal correction also kept investors at bay.
Gold prices are plunging in September partly because struggling Eurozone sovereign states are dumping [it] in the open market, speculated Michael Pento, president of Pento Portfolio Strategies.
Gold surged nearly 4 percent Tuesday on bargain hunting and increased Asian purchases of bullion, both of which were aided by a sharply lower U.S. dollar.
Sales of gold by European central banks and the International Monetary Fund fell to their lowest annual level since an agreement governing such transactions was ratified in September 1999, the World Gold Council said Tuesday.
It's hard to be upbeat about gold these days, but technical analysts are keeping their faith in the long-term bull run -- just barely.
Gold prices rose more than 4 percent Tuesday, breaking a three-day losing streak, on optimism that Germany this week will approve an expansion of Europe's bailout fund and a decline in the U.S. dollar.
One thing is clear. There's nothing like a gold standard when it comes to analyzing the way the precious metal prices have behaved in the past three months. Gold's decade-long bull run peaked in the last three months when the prices went up by around 30 percent.
Spot gold rallied more than 1 percent and U.S. gold futures as much as 4 percent on Tuesday, snapping four consecutive sessions of losses as a weaker dollar helped battered commodities stage a comeback.
Gold prices rose more than 3 percent on Tuesday as a drop in the dollar index helped the precious metal snap a four-day run of losses and after an early rout in the previous session tempted price-sensitive physical buyers back to the market.
India's commodity exchanges are poised for steady growth over the next few years after annual turnover more than quintupled to $2.5 trillion since futures trading started in 2003, but political hurdles hinder more dramatic development.
Gold tumbled nearly 4 percent Monday, hit by momentum selling and heavy liquidation by commodity hedge funds triggered by another sharp margin hike.
The top after-market NYSE gainers on Monday are: iSoftStone Holdings, Flotek Industries, Ivanhoe Mines, Chicago Bridge & Iron and Freeport-McMoran Copper & Gold. The top after-market NYSE losers are: CoreSite Realty, Accuride, Carbo Ceramics, RPC and Oil States International.
European stock index futures rose sharply on Tuesday, after Asian shares rebounded from multi-month lows and as the euro clung to gains on hopes that euro zone officials will act to corral Greece's debt woes and prevent a financial meltdown.
Asian shares rebounded and the euro clung to gains on Tuesday on hopes that euro zone officials will act to corral Greece's debt woes and prevent another full-blown banking crisis.
Asian shares rose on Tuesday on hopes that euro zone officials will act to corral Greece's debt woes and prevent another full-blown banking crisis, but the euro failed to hold on to all its gains.
Gold prices fell 2.7 percent Monday, its fourth day in a row to decline, as investors raised cash to cover losses and a touch of optimism about Europe drew investors back into the stock market.
