Category: Gold

In the year 2021, Ghana lost the title of Africa’s leading gold producer. While an intensive fight against illegal exploitation has been carried out for several months, the parallel development of official circuits should encourage an increase in national production. In Ghana, the army completed a three-day operation that arrested 164 illegal gold miners, ‘  galamseyers  ‘ as they are known in the country. The latter, many of whom come from Nigeria, Côte d’Ivoire, Mali, Niger and Burkina Faso, have invaded mining concessions or carry out gold panning in riverbeds. According to Ghanaian Times which reports… Read More Here

For nearly three years, Egypt has become more attractive to mining investments, thanks to a change in its regulations. The objective of the authorities is to increase the contribution of the Mines to the economy, in particular thanks to gold. Only one gold mine is currently operated in the country. In Egypt, the Canadian mining junior Aton Resources remains well funded to continue its exploration campaign at the Rodruin gold deposit. It obtained a bridge loan of 2 million Canadian dollars ($1.3 million) from Moonrider, with an annual interest rate of 12%. At… Read More Here

Gold fluctuated after Japan intervened in the foreign exchange market and central banks around the world followed the Federal Reserve with further monetary policy tightening. Japan’s Ministry of Finance moved to halt a slide of the yen against the dollar, the country’s top currency official Masato Kanda said Thursday. After the Fed’s third consecutive large-sized rate hike, central banks in Switzerland, Norway and Britain announced hikes of their own as officials rush to rein in rampant price increases. The greenback fell after Japan’s intervention before clawing back most of the… Read More Here

Gold prices fell to near the lowest level in more than two years on Tuesday, with investors still weighing the likely size of the US Federal Reserve’s looming interest rate hike that could set the tone for the market. Spot gold declined 0.6% to $1,665.78 per ounce by 11:20 a.m. ET, moving further away from the $1,700 level that it descended from last week. US gold futures were down 0.2% to $1,674.70 per ounce in New York. Gold’s decline comes on the back of hot inflation data that spurred some… Read More Here

Gold held steady as traders weighed monetary tightening path by the US Federal Reserve after economic data pointed to elevated inflation in consumer and producer prices. A measure of producer-prices fell for a second month in August, although it increased 8.7% from a year ago, Labor Department data showed Wednesday. The print come after hotter-than-expected consumer price data released the previous day and feed into mounting concerns about the breadth and pace of US inflation. Stubbornly-high inflation will likely keep the Fed’s aggressive interest-rate hikes on track for the coming… Read More Here

Gold prices rose on Monday as the dollar fell to a more than two-week low, prompting investors to buy bullion, while markets eyed US inflation data for further clues on Federal Reserve rate hikes. Spot gold was up 0.4% at $1 722.79 per ounce  as of 08:26 GMT. US gold futures rose 0.3% to $1 733.20. The dollar index hovered close to its lowest level since August 26, making gold less expensive for holders of other currencies.  “Gold’s gains at the onset of this week should prove temporary if the incoming US CPI… Read More Here

Gold advanced to the highest since late August on Friday as expectations firmed for a super-sized interest rate increase from the US Federal Reserve later this month. Spot gold rose 0.5% to $1,716.27 per ounce by 12:05 p.m. ET, on pace for its first weekly gain in a month. US gold futures bounced 0.4% to $1,727.40 per ounce in New York. Meanwhile, the dollar dropped to a more than one-week low against its rivals, making greenback-priced bullion less expensive for overseas buyers. “The US dollar index really dropped sharply overnight… Read More Here

Gold stabilized after a two-day decline as traders watched a surging dollar and a surge in Treasury yields amid expectations of further monetary tightening by the Federal Reserve. Spot gold was little changed at $1,701.59 an ounce at 12:57 p.m. London, after falling 0.6% in the previous two days. The Bloomberg Dollar Spot Index hit a record high. Silver and palladium rose, while platinum was stable. Bullion had fallen below $1,700 an ounce as central banks broadly raised interest rates to fight inflation, dampening the appeal of the non-interest-bearing asset. “Gold is… Read More Here

Gold prices fell to a one-month low on Monday, as US Federal Reserve Chair Jerome Powell’s stance to continue with aggressive monetary policy to bring down inflation dented the zero-yielding metal’s appeal and boosted the dollar. Spot gold had shed 0.7% to $1 724.88 per ounce by 05:50 GMT. Prices earlier fell to $1 720.55, their lowest since July 27. US gold futures dropped 0.8% to $1 736.40/oz. The dollar index scaled a 20-year high, making greenback-priced bullion more expensive for buyers holding other currencies.  Gold’s momentum has turned lower and while at some point there will be a safe-haven flow,… Read More Here