Gold is at a 120-year high (at least) relative to US house prices. Likewise, it is at a 74-year high relative to US wages, at multi-generation highs relative to wheat, coffee and cocoa and at the same price relative to the cost of a Yale education as in the first decade of the 20th century.
Mexico may not be breaking records at London’s Olympic Games, but back home it is scoring big. On Monday, the Mexican Chamber of Mining announced the country hit a new record in gold production in 2011.
Barrick Gold, the world’s largest producer of the precious metal, said it would continue to pursue acquisition opportunities despite the full review of its operations.
AngloGold Ashanti's, the world’s third-largest gold producer, reported that profits from its Latin American operations dropped 52% from $92 million to $48 in the second quarter of this year.
On Monday conflicting reports about the outcome of a four-year old probe into possible price manipulation of silver left investors perplexed about the future trading direction of the precious metal.
AngloGold’s completion of five small, but high-value-yielding acquisitions over the past four years was expected to add about 700 000 oz/y to its production profile at about two-thirds of the cost its competitors would pay to build new assets.
China's number one gold producer said Monday first-half revenues surged 61.4% to $7.8 billion compared to 2011 and should exceed $15.5 billion for the full year.
