Gold

Bloomberg reports gold may decline to below $1,700 an ounce in September before climbing to an all-time high of $2,000 in October as the metal extends its longest rally in at least nine decades, according to technical analysts. The Wall Street Journal reports market participants expect volatile trading in gold to continue this week, as traders look to what may be contentious debate on US President Barack Obama's proposed jobs and infrastructure program and as traders take positions ahead of the meeting of the Federal Reserve's policy-making committee next week.

Gold for December delivery – the most actively traded contract – fell 2.4%  or $45, to $1,815 an ounce on the Comex division of the New York Mercantile Exchange by lunchtime on Monday failing to capitalize on its safe-haven status as investors were forced to raise cash to cover losses on equity markets. The benchmark Dow Jones Industrial Average suffered another day of heavy selling, declining more than 120 points in volatile trade while European and Asian markets were battered after the deputy finance minister of Greece said the debt-laden country has cash to operate only until next month. Germany was readying measure to protect its banks against a Greek default while France's financial institutions were downgraded because of its exposure.

Newmont Mining Corp.'s Indonesian unit said on Monday it is in talks with a worker union and local government to solve a protest that blocked access to its copper and gold mine last week.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2011) - Confederation Minerals Ltd. ("Confederation") (TSX VENTURE:CFM) is pleased to report additional drill results from the on-going drilling program at the Newman Todd property in the Red Lake Gold District, Ontario. These results are from five holes, completed in wide spaced drilling along the Newman Todd Structure ("NTS"), another 11 holes have been completed and assays are pending. The highlight hole from the latest results returned 7.06 oz/ton (242.0 g/t) gold over 0.50 metre.

TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Auryx Gold Corp. ("Auryx" or the "Company") (TSX:AYX)(NSX:AYX) is pleased to announce the discovery of two distinct zones of massive iron-oxides ("Fe-oxides") overlying and peripheral to the Otjikoto gold deposit. Both zones occur at and near surface and have been named the Main Magnetite Zone ("MMZ") and the Magnetite 1 Zone ("M1Z"). Geophysical work suggests the Fe-oxide mineralization has a potential strike length of 6km. Please follow the link to view a plan view of the magnetic anomaly:http://auryxgold.com/projects/otjikoto_drill_program/mag_anomalies/

Bloomberg interviewed Richard O'Brien, CEO of Newmont, on Friday who said gold could reach $2,000 in the next six months. O'Brien also said more certainty is needed around taxes and regulations before companies start hiring again. O'Brien said that the financial uncertainty in Europe and U.S.A. will probably drive gold to $2,000. O'Brien was asked about President Obama's $447 billion job plan announced on Thursday and what CEOs need to see before they start hiring again.

Lumina Copper (CVE:LCC) announced on Thursday intersects of 646 meters grading of .93% copper equivalent at the Taca Taca copper-gold-molybedenum project in Argentina. Lumina also reported drilling results of 2.69% copper equivalent in 50 meters of grading. Lumina was up 23 cents to 7.08 on Thursday. At the end of the week, was back down $6.71.

Guinea's parliament adopted a new mining code that more than doubles the share the West African state can take in mining projects to 35 percent and toughens procedures for acquiring development permits, the government said on Saturday.

Barrick Gold Corp. ABX -0.07% said that its Pierina gold mine in Peru may operate until 2018. Minera Barrick Misquichilca SA, the company’s Peruvian unit, told the Peruvian securities regulatory agency on Wednesday