Barrick and Newmont deal flurry helps smaller gold miners, says London firm’s boss March 14, 2019 Recent megadeals in the gold sector will likely boost small miners as investors start looking at gold, a top gold boss said yesterday after a transformational year for his company. Capital Drilling, which had been largely based in Egypt and Tanzania, decided to move huge parts of its operations after the market started to turn [...]
Gold rises to eight-month high as Huawei tensions weigh on dollar January 29, 2019 Gold prices reached their highest point in over eight months today after the dollar fell on worries over US-China relations. The metal rose to $1,309 per ounce in the early afternoon, a 0.69 per cent rise. Read more: Row over Bank of England's Venezuelan gold heats up as senior Tory MP writes to Carney The boost [...]
Will 2019 be the year gold regains its shine? January 28, 2019 | City Talk Gold had a mixed year in 2018, quickly peaking around $1,366 in January, but falling as low as $1,160 by August. For a while it seemed that the correlation between risk-off appetite and gold prices had broken, with the yellow metal overlooked even in times of heightened uncertainty. But after a 7% recovery since early [...]
Newmont forms world’s largest gold miner with $10bn deal for Goldcorp January 14, 2019 Newmont Mining Corporation will balloon to become the world’s largest gold company as it buys Goldcorp in a deal valued at $10bn (£7.8bn). The share-based deal will produce a new global behemoth, bringing together two companies who produced a combined 7.9m ounces of gold in 2017, giving it strong leverage over global gold prices. Read more: Shareholders [...]
Global equity bloodbath plunges FTSE 100 to six-month low October 11, 2018 A GLOBAL equity bloodbath plunged the FTSE 100 to its lowest level in six months on a “gut-churning” day for investors. The sell-off began in the US on Wednesday before spreading to Europe, Asia, and trading floors across the world on Thursday. Global growth concerns, the prospect of higher US interest rates, as well as [...]
Gold prices rise for fifth consecutive day on worries about China’s economic slowdown August 12, 2015 The price of gold went up for the fifth day in a row today, as uncertainty about China’s flagging economic growth had investors fleeing to safer havens. Rising 1.4 per cent to $1,124.01 an ounce, gold prices are recovering from the five-year low that had gold miners feeling the squeeze. Mining companies were buoyed by [...]
Gold prices buoyed by Fischer comments August 11, 2015 Gold prices climbed 0.9 per cent to reach a three-week high of $1,104.10 per troy ounce yesterday. It came after US central banker Stanley Fischer told Bloomberg TV there must be a rise in inflation before interest rates can be lifted. When rates go up, gold struggles to compete against interest-bearing investments, hitting prices.
Miner Randgold’s profit takes a tumble as gold loses its glitter amid price falls August 7, 2015 Randgold Resources yesterday said its pre-tax profit fell in the first half of 2015 due to lower gold prices and higher costs. However, the miner said its results stood strong against a sector “buckling under the pressure of the gold price downturn”. The FTSE 100-listed gold miner reported a pre-tax profit of $72m (£46.4m) in [...]
Brent crude oil edges towards $50 per barrel as gold price takes a breather July 28, 2015 Brent crude continued to edge down today, falling another 1.68 per cent in mid afternoon trading to $52.57 per barrel, its lowest price since January. Meanwhile, WTI crude, the US benchmark, stayed well below the $50 mark, at $47.40. The drop came as commodities prices continued to take a hammering: in recent weeks, precious metals [...]
Gold price hits five-year low: Is it all over for the precious metal? July 27, 2015 With prices at five-year lows, Annabelle Williams asks whether the precious metal is truly hammered The gold price has been hammered in the last few weeks, leaving the precious metal at the lowest prices for five years. Gold took a nosedive last week when an unknown entity – with considerable power, perhaps a [...]