Gold Prices Recover Weekly Loss as US Rate Cut Probabilities Rise
Gold prices advanced on Friday to recover from a weekly loss, as traders weigh their outlook on US monetary policy following the release of private sector jobs data. Spot gold rose almost 0.5% to $3,995 an ounce by midday, having briefly touched the $4,000 level earlier. US gold futures saw similar gains, trading at just […]
Leading Candidate in Peru Promises to Revoke Essential Mining Industry Rights
A conservative presidential hopeful in Peru is vowing a major change in policy representing the key mining industry’s biggest fear: to revoke key exploration permits for idle projects and redistribute them. The proposal is the bane of global mining corporations that operate in Peru since they increasingly battle for control of mineral-rich territory with informal […]
Gold Prices Recover as Global Equities Decline
Stock image. Gold rebounded near the $4,000-an-ounce level on Wednesday as investors sought safety in the safe-haven metal following a slump in global stocks. Spot gold rallied as much as 1.5% to $3,989.53 an ounce, having fallen almost 2% the previous session. US gold futures also gained 1% to $3,996.50 per ounce. Gold’s recovery follows […]
Aya Evaluates Boumadine Project in Morocco at $3 Billion
The Boumadine project in eastern Morocco. Credit: Aya Gold & Silver Canada’s Aya Gold & Silver (TSX: AYA) said a preliminary economic assessment (PEA) for its Boumadine polymetallic project in Morocco shows the company would need barely a year to recoup its investment if gold prices remain elevated. At spot gold prices of $4,000 an […]
Investor-State Resource Disputes Reach a Decade High
Colombia. Stock image. Disagreements between governments and investors over resources are at a 10-year high, law firm DLA Piper said, driven by resource nationalism and growing competition between the US and China for critical minerals. This reflects the scramble for minerals that will power everything from chips for the AI boom, to electric vehicles, to […]
Ghana Initiates Its First Major Audit of Mining Companies in a Decade
Ghana, Africa’s top gold producer, has launched its most aggressive mining audit in a decade, targeting top miners to recover lost revenue and tighten oversight, a government letter seen by Reuters shows. Governments across West Africa are intensifying scrutiny of mining firms to enforce compliance with regulations and safeguard revenue from soaring commodity prices. Spot gold prices hit […]
China Abolishes Gold Tax Exemption, Impacting Key Bullion Market
Chinese gold ingot. Stock image. China is scrapping a long-standing gold tax incentive in a potential setback for consumers in one of the world’s top bullion markets. Starting on Nov. 1, Beijing will no longer allow retailers to offset a value-added tax when selling gold they bought from the Shanghai Gold Exchange, whether sold directly […]
AngloGold Exits Argentina Projects with Latin Metals
AngloGold Ashanti (NYSE: AU) has withdrawn from three early-stage projects in Argentina currently held by Canadian junior Latin Metals (TSXV: LMS), citing a shift in the group’s greenfield exploration strategy. This week, AngloGold informed Latin Metals that it plans to terminate its option to acquire a majority interest in the Organullo, Ana Maria and Trigal […]
Global Gold Demand Reaches Record High with 3% Increase in Quarterly Investment, Reports WGC
Gold bars and gold coins. Stock image. Global gold demand rose by 3% year-on-year to 1,313 metric tons, the highest quarterly number on record, in the third quarter as investment demand soared, the World Gold Council said on Thursday. Spot gold prices are up 50% so far this year after hitting a record high of […]
New Gold Soars to 12-Year High Fueled by Record Quarter at Rainy River
Rainy River has been in operation since 2017. (Image courtesy of New Gold.) New Gold (TSX, NYSE-A: NGD) soared to its highest in more than a decade on Wednesday after delivering a strong third quarter, marked by the best-ever production at its Ontario mine, placing the Canadian miner on track to meet its guidance. The […]