Gold Stocks Surge Past 2011 Record High as Investors Flock to Safe Havens
Stock image. Trade anxiety, geopolitics and threats to the US central bank’s independence have driven investors to the safety of gold, sparking a massive rally in miners of the precious metal. The NYSE Arca Gold Miners Index hit an all-time high and is on track to end the session at a record on Friday. It’s […]
Arizona Sonoran Stock Rises on Royalty Adjustment and Backing
Arizona Sonoran’s Cactus project is steadily advancing towards a construction decision. Credit: Henry Lazenby. Arizona Sonoran Copper (TSX: ASCU) is pressing its Cactus copper project in Arizona toward an updated resource and prefeasibility study (PFS) by year-end while cutting project royalties and shoring up funding. Given the company’s development momentum, shares in the Casa Grande, […]
World Gold Council Introduces Digital Model for Gold Ownership and Trading
Stock image. The World Gold Council (WGC), in partnership with law firm Linklaters and Hilltop Walk Consulting, has released a white paper proposing a new framework for how gold is owned, traded, and used in financial markets. At the core of the proposal are Pooled Gold Interests (PGIs), which would allow investors to hold fractional, […]
Gold’s Historic Rally: Who’s Driving It Forward?
Gold prices hit a record $3,532 per ounce on Tuesday, extending a rally that has boosted them more than 90% since late 2022. Demand is expected to remain robust for some time due to a mix of factors. Central bank purchases and strong investment demand, visible in inflows into physically backed gold exchange-traded funds, are […]
British Columbia Approves Expansion of Mt. Polley Copper-Gold Pit
British Columbia has approved Imperial Metals’ (TSX: III) plan to deepen and extend the Springer pit at the Mount Polley copper-gold mine, adding about eight more years. The decision comes after an August court ruling that upheld key permits challenged by an area First Nation. The consent order from Environment and Parks Minister Tamara Davidson, […]
Scorpio Gold Secures $5.8 Million Investment from Beaty and Sprott
Goldwedge mill facility. Credit: Scorpio Gold Nevada-focused Scorpio Gold (TSXV: SGN) says it has received an C$8 million ($5.8m) investment from Canadian mining entrepreneurs Ross Beaty and Eric Sprott to advance its flagship Manhattan property. The investment comprises the issuance of 32 million common shares priced at a discount of C$0.25 apiece. Beaty, who founded Pan […]
Gold Breakout Approaches – MINING.COM
Stock image. A major gold breakout nears with big implications for investor psychology. Gold has spent recent months consolidating high, winding tighter in a bullish technical pattern that mostly resolves to the upside. Gold’s resulting new record highs will likely fuel sizable momentum-chasing buying from gold-futures speculators and American stock investors. That will accelerate gold’s […]
Gold Prices Approach New Record High
Stock image. Gold prices advanced to near-record levels on Friday as investors weighed US economic data and uncertainty around the Federal Reserve’s future. Spot gold rose 0.8% to $3,445.87 per ounce as of 12:40 p.m. ET, on track for its best month since April. US gold futures jumped 1.1% to $3,513.50 per ounce, just $20 […]
India Mulls Relaxing Gold Investment Restrictions in Pension Funds
Bangalore, Karnataka, India. Stock image. India’s pension regulator may look to relax its investment restrictions after calls by fund managers to boost their gold holdings in their portfolio, Bloomberg News has reported. According to sources cited by Bloomberg, retirement fund managers held a series of meetings with senior officials from the Pension Fund Regulatory and […]
Newmont Set to Implement Major Job Cuts as Part of Cost-Cutting Strategy – Report
Newmont Corp. (NYSE: NEM) is preparing a major cost-reduction plan that could lead to thousands of job losses, Bloomberg reported on Wednesday, citing people familiar with the matter. The world’s largest gold miner, which completed its $15 billion acquisition of Newcrest Mining in 2023, is targeting a reduction of as much as $300 per ounce […]