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Category: Gold

Recession Risk, Stagflation Set Stage For Positive Gold Performance in 2023 1 International Gold 

Recession Risk, Stagflation Set Stage For Positive Gold Performance in 2023

Constance
It has been a year to forget for gold. The precious metal is closing in on a second consecutive yearly decline, with prices down by $250 an ounce since its March highs as central bankers stepped up their aggressive fight against inflation Going forward, the interplay between inflation and central bank intervention will be key in determining the outlook for gold’s performance in 2023, according to the World Gold Council (WGC). Economic consensus calls for weaker global growth akin to a short, possibly localized recession, falling – yet elevated –… Read More Here
Rescue Work Continues After Gold Mine Collapse In China 2 International Gold 

Rescue Work Continues After Gold Mine Collapse In China

Constance
Rescue work continues after 18 people were trapped underground as a gold mine in northwest China’s Xinjiang Uygur Autonomous Region collapsed on Saturday. Approximately 40 people were working underground at the time of the accident in Yining County in the Ili Kazak Autonomous Prefecture. Twenty-two miners have been rescued. “Now, the accurate location of the trapped people has been determined. However, the complex situation underground and the unstable surrounding rocks have brought many difficulties to the rescue work. The 18 people remain out of contact,” Lu Wei, chief safety officer… Read More Here
Gold Price Edges Higher As US Inflation Data Shows Signs Of Cooling 3 Gold International 

Gold Price Edges Higher As US Inflation Data Shows Signs Of Cooling

Constance
Gold prices edged up on Friday ahead of a long holiday weekend as the latest US inflation data showed signs of cooling, but not enough to erase concerns of more Federal Reserve rate hikes. Spot gold rose 0.6% to $1,802.33 per ounce by 11:50 a.m. ET, representing a weekly gain of roughly the same percentage point. The precious metal is coming off its worst week in a month after more hawkish messaging from the Fed. US gold futures were up 0.8% to $1,810.30 per ounce. [Click here for an interactive chart of gold… Read More Here
GOLD MINED FROM SIM CARDS CAN BE USED TO MAKE PAINKILLERS 4 International Gold You got to know this 

GOLD MINED FROM SIM CARDS CAN BE USED TO MAKE PAINKILLERS

Constance
Researchers from the University of Cagliari in Italy and Imperial College London have developed a method of extracting gold from printed circuit boards, SIM cards and other electronic waste, as well as a process for using recovered gold in the manufacture of medicines. In a paper published in the journal ACS Sustainable Chemistry & Engineering, scientists explain that the extraction method involves selective steps for the sustainable leaching and recovery of base metals like nickel, then copper, silver and, finally, gold, using green and safe reagents. . The gold produced from… Read More Here
Over 24,325 kg of raw gold produced in the DRC by November 2022, 5 Gold Mining in DRC 

Over 24,325 kg of raw gold produced in the DRC by November 2022,

arnbethnic
Between January 1 and November 30, 2022, the mining sector in the Democratic Republic of Congo produced more than 24,325 kg of raw gold. These figures were provided by the Central Bank of Congo (BCC) in its compendium of statistical information published in November 2022. Compared to these figures from the Central Bank of Congo, the production of raw gold recorded a slight decrease during the period under evaluation compared to last year. At the end of November 2021, the Congolese mining sector had notably produced a production of raw… Read More Here
Market: gold and silver up this week from December 5 to 10, 2022 (Mercuriales) 6 Silver Ore Gold International 

Market: gold and silver up this week from December 5 to 10, 2022 (Mercuriales)

arnbethnic
The main mining export products of the Democratic Republic of the Congo are on the rise this week from December 5 to 10, 2022, according to estimates by experts from the National Mercurial Commission of the Ministry of Foreign Trade. Gold is trading higher this week at $56.69 per gram from $56.50 per gram last week, a positive price differential of $0.10. Silver is also up this week at $0.69 per gram from $0.68 per gram last week, up $0.01. The other product on the rise this week is copper,… Read More Here
Exploration Success Secures Kibali’s Future 7 Mining in DRC Gold 

Exploration Success Secures Kibali’s Future

arnbethnic
With its exploration prospect pipeline continuing to expand, Kibali is well set to maintain its business plan for at least another 10 years. KINSHASA, DEMOCRATIC REPUBLIC OF CONGO – The ability of Africa’s largest gold mine to replace its reserves beyond depletion will secure its position as one of Barrick Gold Corporation’s Tier One1 assets well into the future, president and chief executive Mark Bristow said here today. Speaking to local media, Bristow said the 13 year old mine, which has just improved its performance for the third consecutive quarter, still had an… Read More Here
Gold price drops over 1% as another Fed rate hike looms 8 Gold International 

Gold price drops over 1% as another Fed rate hike looms

admin
Gold fell more than 1% on Friday as the US dollar rose, giving up gains from bets for a slowdown in monetary tightening by the Federal Reserve later in the year as the immediate focus turned to an impending rate hike next week. Spot gold was down 1.3% to $1,641.48 per ounce by 11:55 a.m. ET, on its way to another weekly loss. US gold futures also fell 1.3% to $1,644.00 per ounce in New York. Meanwhile, the US dollar index edged higher by 0.2%, eroding the appeal of rival… Read More Here
DRC: at the end of August 2022, mining industries produced 10,386 kg of raw gold 9 Gold Mining in DRC 

DRC: at the end of August 2022, mining industries produced 10,386 kg of raw gold

admin
The mining industries of the Democratic Republic of Congo (DRC) achieved a production of around 10,386 kilograms of raw gold at the end of August 2022. These statistics are revealed in the Condensed statistical information of the Central Bank of Congo (BCC) published this month of October 2022. This production of raw gold has decreased significantly, informs this report without mentioning the reasons underlying this drop in production. During the same period in 2021, the mining industries of the Democratic Republic of Congo (DRC) had achieved a production of raw… Read More Here
Ivanhoe awarded new exploration rights next to Platreef project on South Africa’s Bushveld Complex 10 Copper Exploration Gold New Mining Projects 

Ivanhoe awarded new exploration rights next to Platreef project on South Africa’s Bushveld Complex

admin
Ivanhoe Mines has been granted three new highly prospective exploration rights covering total surface area of 80 square kilometres adjacent to the company’s Platreef project in Limpopo province, South Africa. Platreef is a palladium, rhodium, nickel, platinum, copper and gold development project that is 64% owned by Ivanhoe. A 26% interest is held by Ivanhoe’s broad-based, black economic empowerment (B-BBEE) partners, which include 20 local host communities with approximately 150,000 people, project employees and local entrepreneurs. A Japanese consortium owns the remaining 10% interest. The project hosts a thick, underground… Read More Here

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