Large managed futures funds, including hedge funds, reversed to sell tech futures while continuing to buy gold and silver in the latest reported week, according to an analysis by Merrill Lynch.
The Ivory Coast’s gold production capacity will almost double to 13t a year by 2013, from its current annual output of 7t, according to the country’s energy and mines minister Adama Toungara. “We will be able to reach 13tpa by 2013 and 20tpa by
When it comes to turmoil in the global economy, the world’s pain could prove Denver’s gain.
Gold prices have soared in recent weeks, reflecting the precious metal’s status as a hedge against financial turmoil.
“Denver is ground zero for mining in the United States in terms of the capital that is concentrated here and the skills here,” said Tim Wood, executive director of the Denver Gold Group.
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Ghana gold production rose 14% for the first quarter of 2011 versus a year ago to 796 797 oz, and gold revenues during the same period soared 47% to $1.15-billion, the West African nation’s chamber of mines said on Friday.
Announcement by the State Bank of Vietnam (SBV) to permit companies to import five tons of gold bullion helped cooling down the gold high fever that has been spreading throughout the country, especially in Hanoi and Ho Chi Minh City since the beginning of the week.
Following the significant narrowing of cost-in-use of conventional Silver materials and nanosilver in electronics industry, which may encourage some industry players to switch to higher performance nanosilver technologies, according to ‘Nanosilver
In a rare development, gold prices have surpassed usually costlier platinum from the precious metal basket. Abroad, gold is trading at $1,746 per ounce and platinum at $1,732. In the Mumbai market, gold prices on Tuesday went up further by Rs 875 to Rs
on Wednesday morning, with the lead contract for June 2012 briefly climbing to 4,408 yen per gram, surpassing 4,399 yen logged on Tuesday. The rise was fueled by a surge in gold futures in New York overnight. After hitting the record high, gold is being
It soared to a record $1,700 an ounce Monday after the United States suffered its first-ever debt downgrade at the hands of Standard & Poor’s. With gold rising 30 percent this year and nearly 400 percent over the past decade, it’s reasonable to ask
Reading the headlines about a new all-time high for gold north of $1,675 and you could be forgiven for thinking that gold was the star performer amongst the precious metals over the past month. Wrong!
