Gold price slips as traders weigh outlook for Fed interest rate cuts
Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.
Goliath Gold, a thinly traded African exploration company this week reported a deepening loss for the year to end-March as it pushes ahead with drilling programmes at its Johannesburg East Rand assets.
Gold One spun out its deeper assets into Goliath, which was formerly White Water Resources, in a R262m ($35m) deal that will give Gold One 71% of the new company.
BusinessDay – Goliath Gold drills on as losses mount:
Goliath has warned it will close the operational Sub Nigel mine, which acted as a training centre for Gold One’s new Modder East mine, because of uncontrolled flooding at nearby Grootvlei mine.
