Investors aren't the only ones rushing to profit from the booming value of gold. Refiners, who buy scrap gold from dealers and private owners, say they are also seeing an upsurge in activity. "It is great for business," says Terry Hanlon, director of the

Gold Fields, one of the world's top five gold producers, announced June quarter earnings that were up 15% to US$186 million, compared with US$158 million in the March quarter. During the same June quarter last year, Gold Fields made US$120 million. The company announced its quarterly results on Wednesday.

North American Palladium announced financial results and operational updates for the second quarter ended June 30, 2011. Highlights were production of 46,971 ounces of payable palladium at a cash cost1 of US$335 per ounce; realized palladium price of US$751 per ounce, giving an operating margin of US$416 per ounce, and total operating margin of US$20 million for the palladium produced; revenue of $51.4 million; and adjusted EBITDA of $15.4 million.

Gold Hedge reports that a German newspaper is telling its readers that it's time to buy gold. Bild Zeitung, is Germany’s biggest- selling newspaper, is the best-selling newspaper outside Japan and has the sixth-largest circulation worldwide. Bild encouraged German people to invest in gold as the global debt crisis continues to deteriorate and cause turmoil in global markets.

South Africa's gold output fell 5.7 percent in volume terms in June while total mineral production fell 0.7 percent compared with the same month a year earlier, data showed on Thursday.

Oceanic Iron Ore Corp. announced the latest set of results is based on twinned drill holes in the Castle Mountain, Zone 4, and Bay Zone "F" grids of the Hopes Advance Area. Further results from these grids as well as Zone 2, Iron Valley and additional Bay Zone grids are expected to be reported in the coming weeks, as will results from targeted "step-out" drill holes which have been completed.

Xstrata has approved the commencement of an AUD47 million (USD50 million) pre-feasibility study into the development of a large multi-commodity open pit mine on the existing Xstrata Mount Isa Mines footprint. In a joint statement, Xstrata Zinc Australia Chief Operating Officer Brian Hearne and Xstrata Copper North Queensland Chief Operating Officer Steve de Kruijff said the development of a large scale zinc-lead-copper pit has the potential to extend the life of the combined operations to beyond 2060.

Hecla Mining CEO Phil Baker Tuesday predicted the higher the gold price goes, the more small investor interest in silver will increase.

Predictably in tandem with the BSE and the NSE which appreciated by 273 and 88 points respectively the pencil ingot prices recoiled at all centres.