Asia Gold-Price dip perks up demand ahead of festive, wedding seasons

Ross Beaty, the founder of Pan America Silver and Equinox Resources, is not cowed by the bad economic news. He looks at the markets and still sees opportunity.

After one of the year's lowest trading volumes – just over 90,000 lots – gold maintained levels reached after Friday's sharp rally.

"Looking forward, the demand for drilling services from the senior mining houses continues to be strong."

Three lawmakers from President Ollanta Humala’s ruling Gana Peru party resigned on Monday over the government’s handling of protests against -Xstrata last week, warning that social and environmental protests are threatening billions of dollars of mining projects.

At the moment the draft legislation requires mining companies to disclose on a project-by-project basis what they pay local officials in foreign countries.

Canada topped the global mining and metals sector as the number one target destination by total deal value in the first three months of this year, says international firm Ernst & Young.

Gold demand in India, one of the world's leading buyers, is likely to fall by at least 4% in volume in 2012, as higher inflation trims disposable local income, according to the latest research report by Morgan Stanley.

After making a deal to combine with privately-held Absolute Gold last May, GoGold Resources (CVE:GGD) has now filed a NI 43-101 showing the mineral interests it acquired from Absolute are a resource containing 37.1 million ounces of silver equivalent and 741,000 ounces gold equivalent.

Consumers made the most of the dip in the price of bullion and mainland China's gold purchases via Hong Kong hit a record 101.7 tonnes in April, up 62%.