During the Asian market session, spot gold experienced a sudden and sharp decline, briefly falling to $2,724.64 per ounce, hitting an intraday low. According to FXStreet analyst Christian Borjon Valencia, technical analysis of gold indicates potential signs of weakness. Gold prices closed nearly unchanged on Monday, with investors awaiting the outcome of the U.S. election...
READ MORESharp Decline Follows Record High Spot gold experienced a significant decline on Thursday, closing down by \$43.50, or 1.56%, at \$2,743.63 per ounce. This drop followed a historic high of \$2,790.11 per ounce reached earlier in the day. Analysts cited profit-taking by investors and robust US economic data as primary reasons for the downturn. David...
READ MOREAmerican gold mining company AngloGold Ashanti is set to acquire Centamin, a company registered offshore on the British island of Jersey. Shareholders from both companies have approved the deal, which is expected to be finalized by the end of November. The acquisition will be conducted through a share swap, with current shareholders of AngloGold Ashanti...
READ MOREAura Minerals will acquire a 100% interest in Bluestone Resources’ Cerro Blanco gold project in Guatemala and the Mita Geothermal project. The deal values Bluestone at C$0.50 per share, representing a 51% premium, with the total enterprise value reaching up to US$74.3 million. Bluestone shareholders can choose a cash payment of C$0.287 per share or...
READ MOREOn Wednesday, October 23, spot gold prices fell sharply, dropping more than 1% after hitting a record high earlier in the day. The decline came as the U.S. dollar strengthened, U.S. bond yields rose, and tensions in the Middle East appeared to ease, prompting investors to take profits. Spot gold closed down \$33.44, or 1.22%,...
READ MORENewmont, the world’s largest gold producer, reported its highest quarterly profit in five years, driven by a surge in gold prices. Despite the profit jump, shares of the company fell after both sales and earnings missed analysts’ expectations. In the third quarter, the Denver-based company’s net income attributable to shareholders was \$922 million, nearly six...
READ MORERussian mining company Seligdar has reported a 5% decrease in gold production from January to August 2024, totaling 5.94 metric tons. The decline in output was attributed to the scheduled processing of previously mined and stockpiled ore and the completion of operations at the Lunnoe deposit. Ore extraction also dropped significantly by 33%, reaching 6.2...
READ MOREIn Monday’s Asian market session, spot gold experienced a sharp upward movement, breaking through $2,731 per ounce and touching a new all-time high of $2,731.43 per ounce. This surge is attributed to escalating geopolitical tensions and rising concerns regarding the U.S. elections, which have driven demand for safe-haven assets. The recent surge in gold prices...
READ MOREHuatai Securities has released a research report suggesting that Zijin Mining remains on course to achieve its annual production targets of 1.11 million tons of mined copper and 73.5 tons of gold, supported by quarter-on-quarter growth in copper and gold production during the third quarter of 2024. Zijin Mining also announced plans to acquire 100%...
READ MOREGreenX Metals has released its Quarterly Activities Report for the period ending September 30, 2024, providing updates on a significant arbitration award, the Tannenberg Copper Project, and the Eleonore North Gold Project. GreenX reported a major win in international arbitration against the Republic of Poland under both the Australia-Poland Bilateral Investment Treaty (BIT) and the...
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