Gold surged by Rs 300 to all time high of Rs 43,585 per 10 grams in the local market Saturday, as its international price also jumped to $ 1,594 an ounce, market sources said. According to Karachi Saraf Association, tola (11.664 grams) price also

Gold Fields’ attributable group production for the June quarter is expected to be around 872,000 gold equivalent oz, up 5% from 830,000 gold equivalent oz in Q1, the South African miner said Tuesday. During Q2, production from the country’s South Africa region was affected by six public holidays as well as two significant seismic-related accidents at the Kloof Driefontein Complex mine, which resulted in production stoppages due to safety interventions, the company said.

Widely respected economist in China, Li Yining of Peking University, has joined a chorus of advisers urging the Chinese government to increase the country’s gold reserves as a hedge against inflation of foreign currencies. “China should increase its gold reserves appropriately, and China must take every chance to buy, especially when gold prices fall,” Li told China’s Xinhua news agency.

Northern California gold mine that has been a tourist attraction for years could go back to mining as high gold prices boost the promise of profits. Sutter Gold Mining Inc. has lined up $20 million in financing to restart operations. Image is from Wikipedia, a map of the gold regions of California.

Lower Gold prices on account of easing of European sovereign debt problems and consequent decrease in precious metals demand provides the right opportunity for investors to enter the precious metals market, according to financial experts at Hunter Wise

Mexican mining production rose 22% in April from the year-ago month, led by a big jump in output of copper, the National Statistics Institute, or Inegi, said Thursday. Copper production rose 77% to 32,324 metric tons.

Gold futures tumbled to a six-week low as Greece progressed in staving off a default, curbing demand for the metal as an investment haven. Greece may get as much as 85 billion euros ($124 billion) in new financing, including a contribution from private

Greece’s central bank increases its gold reserves Greece’s central bank increased its gold reserves marginally in May, choosing not to sell some of its vast holdings as efforts continued to trim the public debt. The International Monetary Fund’s

Though Chinese funding failed to materialize, International Minerals (TSX: IMZ) said it is in talks with an alternate suitor for its Rio Blanco gold-silver project and Gaby gold project in Ecuador, the silver miner reported. Last November International

Russia’s gold industry association recently released data show that this top 5, Russia’s gold output reached 59.105 tons, an increase of 9%. Which the Russian gold mining amounted to 49.508 tons, representing a growth of 11.2% over the same period.

Canada’s Aurizon Mines said gold mineral reserves at its Casa Berardi mine in northwestern Quebec rose 44 percent in 2010. The gold reserves at Casa Berardi mine, whose life has been extended from six to 10 years, rose to 1.5 million ounces.