US Gold Corp. (Nasdaq: USAU) has cleared a major hurdle in the development of its CK gold project by securing approval from the Wyoming Department of Environmental Quality (WDEQ) for its air quality permit. This permit represents the final condition required under the mine operating permit issued earlier this year. The other two conditions—the project’s...
READ MOREGold prices surged on Monday, climbing 1.9% to close at $2,611.73 per ounce after six consecutive days of losses. The increase came as the U.S. dollar paused its rally, and renewed uncertainty from the escalating Russia-Ukraine conflict rekindled demand for safe-haven assets. FXStreet analyst Christian Borjon Valencia noted that gold rebounded from a two-month low...
READ MOREGold prices advanced on Monday after experiencing their steepest weekly drop since 2021, as the U.S. dollar eased and traders assessed the potential for Federal Reserve rate cuts given Donald Trump’s anticipated return to the White House next year. Spot gold climbed more than 1% to above $2,597 per ounce, following a loss of more...
READ MORETirex Resources, a Canadian company based in Vancouver, has concluded its exploration activities in Albania and informed the government of plans to convert several exploration concessions into mining concessions. The company aims to begin production soon in six deposits in the Mirdita region, focusing on copper, gold, and zinc extraction. The volcanic deposits in the...
READ MORETroilus Gold has secured a preliminary agreement for a US$500-million loan guarantee from Germany’s Euler Hermes Aktiengesellschaft to support its copper and gold project in Quebec. The guarantee, issued on behalf of Germany’s Ministry for Economic Affairs and Climate Action, is contingent upon Troilus signing an offtake agreement with German copper smelter Aurubis. The offtake...
READ MOREGold prices experienced a significant drop on Monday, November 11, falling by more than 2% as the U.S. dollar strengthened in the wake of Donald Trump’s election as U.S. President. The precious metal’s value declined by $64.75, or 2.41%, closing at $2,619.23 per ounce, with prices reaching as low as $2,610.61 during the trading session....
READ MOREBarrick Gold made significant strides in the third quarter of the year, despite ongoing challenges, ensuring that its annual production and cost targets remain within reach due to an anticipated strong performance in the fourth quarter. Gold production remained steady compared to the previous quarter, while copper production saw a 12% increase quarter-on-quarter. The company...
READ MOREDuring 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...
READ MOREBarrick Gold reported preliminary third-quarter production of 943,000 ounces of gold and 48,000 tonnes of copper, along with preliminary sales of 967,000 ounces of gold and 42,000 tonnes of copper. The company continues to anticipate a materially stronger fourth quarter, aiming to achieve its full-year gold and copper production guidance. The average market price for...
READ MORESilver has delivered thirty-five percent returns in the first nine months of 2024, surpassing gold’s thirty percent. Motilal Oswal Financial Services remains optimistic about silver, suggesting it could continue to outperform gold in the near term. Navneet Damani, head of research for commodities and currencies, highlighted silver’s safe-haven appeal, which has driven its growth, along...
READ MOREZijin Mining has announced its acquisition of 100% ownership of the Akyem Gold Mine in Ghana, previously owned by Newmont, for $1 billion. Akyem, one of Ghana’s largest gold mines, began commercial production in October 2013 and has an annual processing capacity of 8.5 million tonnes. Over the past three years, gold output at Akyem...
READ MOREOn Thursday (October 10), despite U.S. Consumer Price Index (CPI) data coming in slightly higher than expected, poor performance in initial jobless claims led to a sharp decline in the dollar index, which drove gold prices higher. Spot gold experienced significant fluctuations, ultimately closing up $22.13, or 0.85%, at $2,629.84 per ounce. Ongoing tensions in...
READ MORESpot gold fell nearly \$15 on Wednesday, as the release of the Federal Reserve’s latest meeting minutes prompted market expectations for steady interest rates in November, strengthening the U.S. dollar and putting pressure on gold prices. Gold closed down \$14.13, or 0.54%, at \$2,607.71 per ounce, with intraday lows reaching \$2,605.16 per ounce. According to...
READ MOREFortuna Mining has announced production results for the third quarter of 2024 from its five operating mines in West Africa and Latin America. The company’s Q3 gold equivalent production totaled 110,820 ounces, down from 128,671 ounces in Q3 2023 and 116,570 ounces in Q2 2024. Gold production for the quarter reached 91,251 ounces, while silver...
READ MOREDundee Precious Metals has released preliminary production figures for gold and copper for the third quarter and the nine months ending September 30, 2024. The company’s Chelopech and Ada Tepe mines are reported to be on track to meet their 2024 production guidance despite some operational challenges. David Rae, President and CEO of Dundee Precious...
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