The Fed-inspired drop in the gold price prompted investors to buy a net 5.4 tonnes on Friday, the first increase in holdings by the world's largest gold-backed ETF since November 5.
The US Federal Reserve surprised the market and announced it's throttling its quantitative easing program that has pumped $4 trillion of easy money into the US economy.
The CEO of world number two miner Rio Tinto said the quality of Chinese mining equipment is catching up and in some instances surpassing that of the major US manufacturers.
The transaction creates a diversified, Americas-based mid-tier gold producer that would generate the equivalent of 250,000 to 270,000 ounces of gold next year.