Newmont Mining’s CEO sees gold at $1,750/oz next year

Newmont Mining Corp’s (NEM.N) second-quarter profit missed Wall Street expectations as higher costs and lower production offset a soaring gold price that hit a record high on Friday.

China Business News | July 31, 2011 | 8:56 pm

Europe’s elusive gold reserves: Are Greece, Portugal sitting on billions of dollars?

Europe’s elusive gold reserves: are Greece, Portugal sitting on billions of dollars? The first thing any insolvent private person is forced to do is relinquish the family silver. But other rules seem to apply to governments.

China Business News | July 31, 2011 | 6:36 pm

HSBC to begin trading in gold in Shanghai Futures Exchange

HSBC, the leading bank with operations worldwide, has become the first foreign bank in China to be given membership in Shanghai Futures Exchange and would start trading in gold futures, Reuters reported.

China Business News | July 31, 2011 | 4:46 pm

Mexico ups gold reserves by over 90 tonnes in two months

Mexico massively ramped up its gold reserves in the first quarter of this year, buying over $4 billion of bullion as emerging economies move away from the ailing U.S. dollar, which has dipped to 2-1/2-year lows.

China Business News | July 31, 2011 | 4:35 pm

Libya holding huge gold reserves, IMF data shows

Libya has declared gold reserves worth more than $6bn at current prices, thought to be held largely at home. The reserves are substantial, ranking in the global top 25, according to International Monetary Fund (IMF) data.

China Business News | July 31, 2011 | 4:26 pm

Striking S.African coal and gold miners to meet the Chamber of Mines in separate talks on Monday

Striking S.African coal and gold miners will meet the Chamber of Mines in separate talks on Monday in a bid to end stoppages that have cost Africa’s largest economy tens of millions of dollars in lost output.

China Business News | July 31, 2011 | 2:46 pm

Gold may fall as rally to record high spurs selling

Gold may decline in London as a rally to a record this week on debt concerns in the US and Europe prompts some investors to sell the metal.

China Business News | July 31, 2011 | 1:16 pm

Gold and silver looking heavy for a trade: Najarian

Last week currency traders celebrated what was advertised as a resolution to the European default crisis by selling the dollar and getting long the Euro.

China Business News | July 30, 2011 | 11:06 pm

Gold exports helps Vietnam keep trade deficit in July at USD200 million

Gold exports have helped Vietnam keep trade deficit in July at USD200 million, up just USD40 million in comparison with last month.

China Business News | July 30, 2011 | 9:36 am

China tops world in gold output in 2010

China, which became the world’s largest gold producer since in 2007, retained its position again in 2010 by mining 340.88 tonnes, up 8.57 percent year on year, the China Gold Association said Sunday. Increases in gold output will help China hedge against financial risks and inflation, as well as maintain economic security, the association said.

China Business News | July 23, 2011 | 9:56 pm

Anglo Asian Mining increases gold output in Azerbaijan

Anglo Asian Mining (LSE: AAZ.L -news) increased its gold production in Azerbaijan by 0.4 percent year-on-year to 28,610 ounces in the first half of 2011 from 28,493 ounces in the same period last year, the company said on Tuesday.

China Business News | July 23, 2011 | 9:16 pm

No plan for additional gold reserves – Bank Indonesia

Bank Indonesia has no current plan to increase its foreign exchange reserves based on gold.

China Business News | July 17, 2011 | 6:50 pm

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