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 [...]
Gold price rises yet again as investors expect little change in Fed statament April 28, 2015 The price of gold went up for the second day in a row today, rising 0.9 per cent to $1,212.62 an ounce. This is slightly less than yesterday, when the precious metal went up by two per cent in value. The gains reflect a belief among investors that the US Federal Reserve will take [...]
Randgold profit hit by poor gold price but dividend still increases March 30, 2015 PRE-TAX profit at gold miner Randgold Resources dropped to £353m last year, down from £402m in 2013. The group produced 1.15m oz of gold in 2014, up from 910,274 oz the previous year, and gold sales increased from £1.27bn to £1.43bn. Chairman Christopher Coleman said: “Against the background of a bear market in gold and [...]
Coining it? The case for gold bullion coins March 26, 2015 Gold has had a torrid few years and 2015 is unlikely to be any better. Respected analysts at Brazilian bank Itau Unibanco have forecast that the precious metal will post its third straight annual drop in price in 2015. Having plunged from highs of around $1,900 per troy ounce in 2011, the gold price now [...]
Fresnillo profits plunge as gold prices struggle March 4, 2015 MEXICAN mining firm Fresnillo saw shares dip by 8.46 per cent yesterday, after reporting that pre-tax profits dropped by 40 per cent during 2014, plummeting from $419m (£275m) to $251m. The company also saw a 12.5 per cent decline in revenue for 2014, from $1.6bn in 2013 to $1.4bn. The group said that its “low [...]
HSBC, Goldman Sachs and Barclays are among the banks being investigated for gold price rigging February 24, 2015 The US is looking into whether the world's biggest banks have rigged the prices of precious metals such as gold, silver and platinum. The Department of Justice (DoJ) and Commodities and Futures Trading Commission (CFTC) have launched the investigation following of a series of scandals in which banks altered benchmark rates to make [...]
Gold loses its shine as appetites for bullion wane after last year’s binge November 13, 2014 Global gold demand continued to dip in the last quarter, as appetites waned after last year's binge. Despite crumbling prices, investors haven't been tempted into the bullion market in recent months. During the three months to the end of September, global demand fell by two per cent from a year earlier to 929.3 tons according [...]
Why the price of gold is down to a year low? Falling US unemployment boosts investor confidence October 6, 2014 Gold's appeal has been tarnished by stronger-than-expected employment data for the US. The commodity, which is viewed by investors as a safe haven at times of economic instability, fell in value by 0.7 per cent to $1,183 per ounce during Asian trading this morning – its lowest price since June last year. On [...]