Notwithstanding how good current relations may be between the Netherlands and the U.S., once global investor confidence waned on the American dollar, the Dutch could still lose the gold reserves it placed in full trust in various strategic vaults in the US. Call it perhaps survivor's instinct.
National Mining Corporation (NMiC), one of Ethiopia's mining companies, last week announced the discovery of a 568,000kg worth gold reserve in the African country's Oromia and Tigray regional states.The two regions reportedly hold the country's largest gold reserves, according to geological data from Ethiopia's Ministry of Mines.
China's Sfeco Group, a subsidiary of Shanghai Construction Group, is poised to buy the remaining 60 per cent stake of Chalice Gold Mines in the Zara project in Eritrea in eastern Africa for $100 million.
As emerging economies regale in their economic status, prompting citizens to increase their spending on luxury goods, including on diamonds, analysts forecast prices of the precious metal, although not really a new kid on the block, will grow in the next four years, and could possibly out win gold, another precious metal.
Australian mining company Arc Exploration (ASX: ARX) temporarily suspended the operation of its gold project at Bima in the Indonesia island of Sumbawa after violence broke out on the site on Christmas Eve.
Despite gold prices falling again this week, the metal is still the top performing commodity of 2011.
News of falling gold prices may bad news for most, but not for China.Now is the most opportune time for China to buy more gold assets when prices of the yellow metal are dropping, to ensure the country maintains and protects a well-diversified foreign-exchange portfolio, Zhang Jianhua, Research Bureau Director at the People's Bank of China, said in the Financial News, a newspaper published by the Chinese central bank.
Appetite for gold in Singapore has been rising as residents prepare for the Year of the Dragon.
New Gold Inc. has announced it will double its annual production to 1 million ounces in the next six years, as it mulls introducing a dividend payout for its investors in the fall of 2012.
Luxor Capital Group, a leading hedge fund based in the United States, has offered to buy Canadian miner Crocodile Gold for about C$121 million, prompting shares of the latter to climb more than 40 per cent during Wednesday trading.
Shipments of gold from Japan will reach 100 metric tonnes in 2011, according to Takahiro Morita, the Japan director of the World Gold Council.
The federal government of Zimbabwe, in a bid to improve the country's fiscal liquidity situation, demanded that foreign-owned mining firms should have their primary listings in the Zimbabwe Stock Exchange (ZSE).
A new study that delved into the gold buying attitude of India showed its citizens carry gold in their households worth over $950 billion, representing 50 per cent of the country's GDP in dollar terms.
Mining explorations at different points across Iran have yielded discoveries of some 60 tonnes of gold reserves pegged at around $3.6 billion value, Iran's Geological Survey announced
A number of Australian gold miners remained cautious last quarter, causing the nation's total gold production to fall 2.4 percent from the previous quarter.
The Perth Mint unveiled Thursday the world's largest gold coin weighing over a ton and cost $53.5 million to make. It is made from 99.99 percent gold.
Asia-Pacific trading of gold futures climbed higher Wednesday after Slovakia's rejection of the improvements to the European Financial Stability Facility.
The local share market closed marginally higher today, although off earlier gains due to a disappointing jobs report. The All Ordinaries Index (XAO) gained 6.9pts or 0.2pct to close at 4269.8 after reaching a high of 4297.9 in early trade.
By Greg PeelNo one wants the US dollar to cease being the world's reserve currency ? at least not just yet.
Prepared by Jamie Saettele, CMTWeakness is not clearly impulsive but respect potential for another down leg in the yellow metal.
Gold and oil both finished a difficult week down at the close on Friday for differing reasons.
The debt crisis in Europe and the one approaching in the US helped gold go higher last week.
The weak US dollar will continue to fuel the higher prices of commodities considered as the next safest forms of investment.
