Money managers raised bullish bets in COMEX gold futures and options to the highest level since the week of April 24, as bullion climbed to within $20 of its record during the period, data from the Commodity Futures Trading Commission showed Friday. Speculators in silver futures and options also upped their net long positions in the week ended June 21, as safe-haven demand for precious metals grew in response to disappointing economic data from the United States and persistent concerns surrounding Europe's debt crisis, according to the latest report from the U.S. regulator.

High prices sway buyers towards goods otherwise they would not have widely considered, according to exhibitors at the June Hong Kong Jewellery & Gem Fair. Buyers opted for Very Good makes instead of Triple Excellent and parcels instead of Dossier i...

Operations at the Santa Ana mine in Peru, owned by Canada-based Bear Creek Mining, have been cancelled after violence erupted at the mine on Friday, CNN reported: Following the deaths of five protesters in clashes with police Friday, the Peruvian government agreed to put an end to a private mining project in the southern department of Puno.

West Australia's Labor Party says it will ban uranium mining if it gets elected in 2013. The announcement came Friday in the form of a motion by state AMWU secretary Steve McCartney. According to ABC News: The move is set to anger Federal Resource Minister Martin Ferguson, who called the policy ridiculous last month, warning the position is not sustainable and means the state will miss out on funds for schools, education and roads.

Gov. Brian Schweitzer told ExxonMobil Corp. executives Friday that if they want to make friends in Montana they should construct some of the massive refinery modules destined for the Alberta oil sands region here in Big Sky Country.

When the Canadian Energy Research Institute (CERI) released its sixth-annual oilsands update in May, it highlighted the bright investment future of the industry. The University of Calgary energy economics think-tank expects $2.1 trillion to be pumped into 47 new projects between 2010 and 2035.

Mongolian-focused coking coal explorer Aspire Mining Limited has lifted production expectations for its Ovoot Coking Coal Project (Ovoot) based on the latest compilation of coal washability test results. Results from recent coal washability testing confirm a very high theoretical yield of 80% to produce a product with 8% ash content and CSNs of 8 to 9, making it potentially the lowest ash coking coal product in Mongolia.

Peregrine Diamonds reported the discovery by drilling of three new kimberlites, CH-56, CH-57 and CH-58, on the Chidliak project ("Chidliak" or "the Project"). Chidliak is located on southern Baffin Island approximately 100 kilometres northeast of Iqaluit, the capital of Nunavut, Canada.

Bloomberg reports that Oil plunged on concern that poor U.S. economic growth will reduce demand. The market news is quoted as saying: The IEA announced the release of 2 million barrels a day for 30 days yesterday to make up for supplies choked off by an armed rebellion in Libya. The U.S. Strategic Petroleum Reserve will provide 30 million barrels, European members will supply about 20 million and Asian nations the remainder.