Category: Gold

Southern Copper to splash $2.5 billion on Peru project

Southern Copper Corp was declared the winner on Tuesday of the Peruvian government’s first auction of the  Michiquillay copper project, the first tender in nearly a decade. According to a statement by Southern Copper, controlled by conglomerate Grupo Mexico won the tender with a...

/ February 22, 2018

Stock market volatility is already on the rise

The end is near The doomsayers have been calling for recession for years. Mainstream economists laughed at them, painting a rosy picture. However, the recent plunge in the stock market strengthened the pessimists’ hand. They interpret the dive as a...

/ February 21, 2018

Gold price drops most since December 2016

Volatility has not only returned to equity markets. Gold on Tuesday suffered its worst trading day since December 2016 according to MarketWatch. A week ago the price of gold gained the most since financial markets were shocked by Britain voting...

/ February 21, 2018

NovaGold up on better-than-expected drilling results for Alaska mega-project

Shares in NovaGold Resources (TSX: NG) got a boost Tuesday morning after the miner said that 2017 drilling results for its flagship Donlin project in Alaska, which is being developed in a 50-50 partnership with Barrick Gold (TSX, NYSE:ABX), unveiled higher...

/ February 21, 2018

New shaft will extend EU's largest gold mine to 2035

New shaft will extend EU’s largest gold mine to 2035 Agnico Eagle plans to spend 160 million euros to expand its Kittilä mine in Finland MINING.com Editor | Feb. 18, 2018, 6:37 PM | | The biggest gold mine in...

/ February 19, 2018

US inflation surprise lights fire under gold price

Source: Bloomberg Gold on Wednesday enjoyed its best trading day since June 24, 2016 when financial markets were shocked by Britain voting to leave the European Union. The most active gold futures contract on the Comex market in New York...

/ February 18, 2018

GDX weathers stock selloff

The gold miners’ stocks weathered the recent stock-market plunge really well.  As evident in their leading GDX ETF, they were already beaten down before stock markets started falling.  The resulting explosion of fear bled into GDX, forcing it even lower. ...

/ February 17, 2018

US dollar bull and bear markets

The idea of endlessly repeated cycles is a very old one. This is how the ancients perceived time: not as linear sequence of events, but as replaying patterns of dark and golden ages. Although the Judeo-Christian culture changed the way...

/ February 17, 2018

Strange link between inflation and gold

It was a strange day. Inflation surged yesterday. But gold dropped initially, only to quickly reverse the fall and fly into the air. What happened? And – importantly – will gold soar on the inflation fuel? Inflation rears its ugly...

/ February 16, 2018

Russia's Polyus 2017 adjusted net profit up 7%

MOSCOW, Feb 15 (Reuters) – Polyus, Russia’s largest gold producer, posted a 7 percent increase in 2017 adjusted net profit to $1.02 billion, the company said on Thursday. The gold producer saw rising sales last year and expects to both...

/ February 16, 2018

Argo Gold sells its Ontario-based South Wawa Gold project to RT Minerals

Canadian explorer Argo Gold (CSE: ARQ) said Thursday that is selling its South Wawa gold property to RT Minerals Corp. (TSX-V:RTM) for consideration of 350,000 common shares of the Vancouver-based junior miner. The property consists of two mineral claims totalling 16...

/ February 15, 2018

Barrick Gold earnings in line with forecasts, output seen falling

Feb 14 (Reuters) – Barrick Gold Corp reported adjusted fourth-quarter earnings on Wednesday in line with market expectations and forecast gold production dropping over the next four years with mining costs seen flat to higher. Barrick, the world’s biggest gold...

/ February 15, 2018