Markets single - MINING.COM
52 weeks USD/ozt
Low 1991.78 | High 2786.44
Last Close: Dec 23, 2024 07:41:44 UTC

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Latest Stories

Gold hits $1,623 early Monday after weekend debt talks stall

After a weekend of stalled debt talks, gold rose sharply and hit a Monday morning high of $1,623 an oz before drifting lower. Lawmakers in the U.S.A. spent the weekend trying to resolve negotiations to raise the debt limit and reduce the nation's long-term debt. The Republican-led House of Representatives is holding out for a one-year deal with no tax increases. The Democrats want to see a mix of cuts and higher taxes, along with a deal that will pushes any future debt ceiling negotiations beyond the next election cycle.

Gold steady after Europe debt deal, US deficit talks eyed

Gold held steady below USD 1,600 on Friday, after the euro zone leaders reached an agreement on a Greece bailout plan, but prices are expected to be rangebound as investors keep an eye on the progress made in US debt talks. Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region.

China tops world in gold output in 2010

China, which became the world’s largest gold producer since in 2007, retained its position again in 2010 by mining 340.88 tonnes, up 8.57 percent year on year, the China Gold Association said Sunday. Increases in gold output will help China hedge against financial risks and inflation, as well as maintain economic security, the association said.

AngloGold to spend $30m on 19.79% stake in First Uranium

Africa's biggest gold miner AngloGold Ashanti said on Friday it would acquire a 19.79 percent stake in Canadian gold and uranium producer First Uranium Corp for $30 million. AngloGold said it would buy the stake, which consists of 47 million shares and priced at $0.64 a share, from South Africa's Village Main Reef Gold Mining.

Russia’s mining sector reverses output declines

According to a new report by Business Monitor International Russia's mining sector is set to grow slowly over the forecast period to 2015, marking a reversal of the declining output seen since 2006. Business Monitor forecasts the value of the mining sector to reach US$259bn in 2015 from US$134bn in 2010, marking an annual average growth rate of 2.6%.