Gold

New Gold Inc. ("New Gold") (TSX:NGD)(NYSE Amex:NGD) and Silver Quest Resources Ltd. ("Silver Quest") (TSX VENTURE:SQI) today jointly announce a binding letter agreement whereby New Gold will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares of Silver Quest. Under the terms of the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share (the "Share Consideration") for each Silver Quest share held and one common share in a new Yukon-focused precious metals exploration company, McIntyre Minerals Inc. ("McIntyre") for every three Silver Quest shares held (the "Spinco Consideration").

Hong Kong’s Chinese Gold & Silver Exchange Society, a century-old bullion bourse, will start trading gold quoted in yuan today, boosting the city’s status as an offshore hub for the currency.

The price of gold rose sharply this week, adding over US$40 to end Friday’s session at US$1,679 per ounce. Demand for the yellow metal was driven by weakness in the US dollar, which fell against the euro as positive developments in the European debt crisis boosted Europe’s single currency.

Europe's biggest mining project may be approaching the finish line after a dozen years of opposition and delays, and could enter its final stage late next year, a Rosia Montana Gold Corp executive told Reuters on Friday. Rosia Montana is majority-owned by Gabriel Resources which have spent more than $500 million under no fewer than seven different CEOs advancing the project since the Canadian firm first obtained the concession in 1999. It is believed the be one of the richest deposits in Europe with 314 tonnes of gold and 1,500 tonnes of silver and where mining activity dates back to the 1st Century.

After launching its eBay bullion center in May, the online retailer published a handy infographic this summer to look at buying trends. Looking at absolute number of items sold, California leads the way, probably due to the size of the state, but on a per capita basis, Alaska comes first. The study also found that silver items were the most popular, followed by gold. Platinum was a distant third.

Chad Venzke, who was profiled by Bloomberg, has posted some how-to videos on how to bury gold in your backyard. "If you don't own it physically, in your hand and easily accessible, it's a high percentage chance that you don't own it," says Venzke in his YouTube video. The recent market turbulence and the general fear regarding the economic outlook is causing some people to cling to gold more tightly. Venzke's video has had over 8,000 views.

Canadian-based exploration and development company Colossus Minerals was trading lower in a lacklustre Toronto market on Friday after announcing it had raised $75 million in a bought deal. Colossus is active the mineral-rich Carajas region of Para State, Brazil where it is advancing the Serra Pelada project into production. Billed as one of the highest grade gold and platinum group metals deposits in the world, the area was host to the largest precious metals rush in Latin American history from 1980 to 1986.

Real Gold, which halted trading in its shares on May 27. is under investigation by the Securities and Futures Commission for corporate governance breaches. The miner's announcement to the Hong Kong stock exchange late on Thursday said it was lookin...

Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") is pleased to announce additional high grade intersections from a drill hole at Crosscourse Deposit, Union Reefs. The intersections were found in a broad zone of medium grade mineralization and numerous sections of visible gold were seen throughout the significant core length beneath the Crosscourse pit. The entire 181.2 meter length from 389.2 to 570.4 meters returned an average grade of 1.81 g/t Au.