Shares in African Eagle (LON:AFE) rose after its joint venture partner BrightStar Resources discovered a substantial additional gold mineralised system at the Miyabi project in Tanzania.

Gold prices fell around the world Wednesday after a German court cleared the way for Europe's richest nation to help its weakest ones and a slew of encouraging news lifted global stock markets.

Freeport McMoRan Copper & Gold's Indonesia mine workers are set to strike from Sept. 15 to Oct. 15 unless the firm meets their demands for a pay rise, Julia Parorongan, the firm's workers union spokeswoman, told Reuters on Tuesday.

"Gold and bonds are doing really, really well and we're making profits on them and putting these into the asset classes that are getting cheaper and cheaper, which are definitely equities," Sydney-based Holt said in an interview.

Brazil-focussed gold explorer Serabi Mining's shares rose after it revealed encouraging results from a drill hole between the Palito and Currutela prospects at its 100% owned Jardim do Ouro project in the Tapajos region.

Citi analysts note that the coal industry is set to become the country's highest taxed mining sector it would appear, given corporate tax, state mining royalties of up to 10%, an upcoming Mineral Resource Rent Tax (which, incidentally, is to be charged

Gold and silver fell on Thursday, as weak U.S. housing and manufacturing data and uncertainty about the end of the Federal Reserve's bond-buying program dragged down commodities across the board. Gold, which has fallen three out of the last four