Luxembourg, Japan team up to explore and mine space resources

A massive seam of pure gold worth at least nine billion pounds has been discovered in one of the poorest regions of eastern Germany.

As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table after the safe-haven rally extended too far too fast in recent weeks. Gold investors at several firms said gold prices could correct sharply, citing overvaluation. While that does not mean prominent bulls are now bears, they recommended investors take profit on gold holdings, after the precious metal traded briefly above $1,900 on Tuesday for the first time.

EKM visits Majestic Gold's (MJS.V) new mill and gold mine near Yantai, China. Featuring interviews from the President of Majestic, Rod Husband, as well as director Rudy Brauer, this video takes you on the ground to see the operations first hand.

President Hugo Chavez has signed a decree formalizing the nationalization of Venezuela's gold mining industry. The move Tuesday is aimed at giving the government total control over gold produced in the South American country.

Romanian Environment Minister Laszlo Borbely said Tuesday that a Canadian gold mine project would be given the green light only if it drops the proposed cyanide level in its tailings pond.

Shares in South Africa's Gold Fields, the world's fourth-largest gold producer, fell over four percent on Tuesday in its biggest one-day drop in 18 months as bullion's latest rally looked overdone.

Gold futures dropped for the first time in more than a week on Tuesday as global equity markets posted gains, buoyed by better-than-expected data from China. Gold for December delivery fell $19.80 or 1% to $1,873.50 an ounce at the start of trade in New York's Comex. On Monday the December contract rose $39.70, or 2.1%, Monday to settle at $1,891.90. Bullion is up 16% in August, heading for its best monthly performance since September 1999. Silver for December delivery in New York declined 1% to $42.94 an ounce after earlier touching $44.295, the highest price since May 3. It’s up 39% this year.

Medusa Mining Ltd advised the annual update of the JORC compliant ore reserve estimate for the Co-O Mine in the Philippines now stands at a probable reserve of 502,000 ozs contained in 1.5 million tonnes at 10.1 gpt Au.

Ivanhoe Mines (TSE:IVN,NYSE:IVN,NASDAW:IVN) announced an update to the production potential of its Oyu Tolgoi project.