Frik Els , Editor

China set to lift ban on interbank gold trading further boosting demand

China represents about a quarter of global demand for the precious metal and allowing the country's banks to trade gold directly with each other should boost demand further.

Frik Els | July 19, 2012 | 7:35 pm

Iron ore price spirals to 8-month low; traders draw 2008 comparisons

Chinese import prices are now the lowest since November 8 2011, when the steelmaking ingredient was recovering from a crash in October. During that month iron ore shed $60 a tonne from all time highs above $180.

Frik Els | July 19, 2012 | 6:23 pm

Doesn’t get any better than this! New Caribbean assays bring GoldQuest gains to 1,500% in just 8 weeks

The Vancouver-based gold junior's stock was worth a mere 7.5c when the first drill results from its Las Tres Palmas trend in the Dominican Republic was first released. By June 1 it had increased ten-fold. On Wednesday it gained another 22% after new drill results hinted just how rich the Romero discovery may eventually turn out to be.

Frik Els | July 19, 2012 | 12:15 am

Selling gold? Look no further than Khartoum

The most deep-pocketed shopper among the 150 or so boutiques in Khartoum’s gold district is the Sudanese central bank.

Frik Els | July 18, 2012 | 8:03 pm

Australian ‘coal girl’ back in court for $30k because motel ejected her

"I know of women (prostitutes) who have bought Winnebagos and caravans – but even getting a booking at a caravan park is hard."

Frik Els | July 18, 2012 | 6:10 pm

US Senator warns copper ETFs would ‘undoubtedly’ increase the price

The letter sent to the SEC by Senator Carl Levin, a Michigan democrat, states this type of investment vehicle in copper would also make the market “more susceptible to squeezes and corners by speculators”.

Frik Els | July 17, 2012 | 10:24 pm

AuRico dives 12% over Mexico production problems, announces new CEO

AuRico Gold Inc. (NYSE:AUQ) shed 12% on Tuesday on massive trading volumes, after its preliminary operational results for the second quarter provided a few nasty output surprises and its CEO stepped down.

Frik Els | July 17, 2012 | 8:26 pm

Here is China’s Bridge to Nowhere. It also happens to be the world’s longest

Simply put, China has built too much, too quickly.

Frik Els | July 17, 2012 | 6:40 pm

Iron ore falls through $130 as Chinese steel price hits 2012 low

A build-up in steel inventories and a steep drop-off in demand as China's building boom begins to look more and more unsustainable send iron ore down 3.4% in just the last week and more than 25% below the $174 a tonne struck this time last year.

Frik Els | July 17, 2012 | 4:11 pm

I’ll have mine rare: Chief of $10 billion Chinese Pilbara project now prefers beef over iron ore

Citic Pacific Mining executive chairman Dongyi Hua says "soaring demand for Australian food, particularly beef, among China's 100 million wealthy people could buffer Australia's economy from the effects of an end to the mining boom" particularly given the risk that iron ore prices could fall further.

Frik Els | July 17, 2012 | 12:09 am

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