The precious metal has nearly doubled its value so far this year, but history shows investors hoping to hop aboard the bandwagon should be wary.

Hundreds of thousands of barrels of new supply will have difficulty finding space in crowded pipelines.

Price is about a third less than last year's level as global supplies of the crop nutrient exceed demand.

Large mining companies are selling off some of their prized assets after the prolonged global commodities markets rout left some with high levels of debt.

Egypt's gold mining industry has for years been long on potential and short on investment.

Fujimori says she will repeal laws aimed at protecting the environment that ban the use of dredges and heavy machinery by miners in rivers and wetlands.

The Russian Direct Investment Fund is considering taking a part in the privatization of the country's diamond miner Alrosa.

The Russian government aims to make more than 60 billion roubles ($909 million) from selling a 10.9 percent stake in Alrosa, with the sale taking place on the Moscow Exchange this year.

Mine sales stumble on looming clean-ups

Banks says that India's gold imports could hit a record high this year amid widespread smuggling to sidestep government levies on overseas shipments.

Years of soft commodity prices have depressed demand for mining equipment as miners cut costs and shutter unprofitable sites.

China has agreed to scrap some export subsidies on a range of products from metals to agriculture and textiles, the United States said on Thursday, in a step by Beijing to reduce trade frictions with Washington.