Gold

The Ivory Coast’s gold production capacity will almost double to 13t a year by 2013, from its current annual output of 7t, according to the country’s energy and mines minister Adama Toungara. “We will be able to reach 13tpa by 2013 and 20tpa by

When it comes to turmoil in the global economy, the world’s pain could prove Denver’s gain. Gold prices have soared in recent weeks, reflecting the precious metal’s status as a hedge against financial turmoil. “Denver is ground zero for mining in the United States in terms of the capital that is concentrated here and the skills here,” said Tim Wood, executive director of the Denver Gold Group. Image from Wikipedia

The FrumForum teased out an interesting factoid after Republican presidential candidate Mitt Romney filed his financial disclosure report: he and his wife Ann own a significant amount of gold. Out of a personal wealth of $190 and $250 million, the couple own between $250,000 and $500,000 in gold. Given his personal wealth, however, that may be considered light. Some financial experts suggest that a minimum of 5% of an individual's wealth should go to gold as an insurance policy. In that case, the couple are about $2 million short.

Christina Romer, former economic advisor to Obama, says that the gold standard was not as great as we imagine it, and it didn't provide economic sability. "As we know in the 1930s gold flows were a big part of what was causing countries to raise interest rates in the middle of a Great Depression for heaven's sakes," said Romer in an interview with the New York Times on Friday. Romer says that unanticipated gold flows that filled the U.S. treasuries at the start of World War II allowed the country to shake off the depression, and says that monetary policy is an unappreciated policy tool that helped the U.S. restart the economy.

Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today announced its results for the quarter ended June 30, 2011. All figures are in US dollars, unless otherwise stated. Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today announced its results for the

Kenyan government will in October issue London listed Goldplat a lease to exploit the large gold deposits at Kilimapesa gold site in Narok County. An official at Kenya's ministry of mines said that Goldplat will be given a mining lease after completion

EDMONTON - Women crowd around a kitchen table, each hoping their handful of old jewelry will fetch them a few $20 bills.When it’s Shirley Mueller’s turn, she pulls out a pair of earrings, a few rings and a watch.“Don’t laugh at these earrings;

Spot gold dropped one percent on Friday in Asian trade, extending losses from a fall of 1.6% in the previous session as risk appetite revived after reassuring US jobs data soothed anxious investors, but bullion remains poised for its best week since February 2009. CNBC reports as gold futures briefled topped a record $1,800 traders that are long gold began to get nervous that they were behind a trade that may not have any potential new buyers left. Reuters reports the surging price of gold is a vindication for the world's gold bugs 40 years after US President Nixon announced the abandonment of the gold standard – the anniversary is on Monday.

Aurizon Mines reported gross profits of $29.1 million in the second quarter, a 45% increase from the same period last year, while net profit was up 17%. Chief executive David Hall credited stronger cash flows due to better performance from the Casa Berardi mine in the Abitibi region of Quebec, Canada, where the company is deepening the shaft and conducting the largest exploration program in Aurizon's history. Aurizon produced 41,418 ounces of gold in Q2, an 8% increase from the same period last year, at cash costs of US$544/oz. Image of Aurizon Mines' Joanna project