You are here

Category: Gold

Gold price falls 1% as dollar rebounds ahead of Fed minutes 1 Gold International 

Gold price falls 1% as dollar rebounds ahead of Fed minutes

admin
Gold prices fell 1% on Wednesday as the precious metal was weighed by a rebound in the dollar ahead of the release of US central bank’s minutes from its May meeting. Spot gold dropped to $1,847.55 per ounce by 1:40 p.m. ET, on its way to snapping a five-session winning streak. US gold futures traded at $1,846.50 per ounce in New York. Meanwhile, the US dollar gained 0.4%, after hitting its lowest level in a month on Tuesday, making gold more expensive for overseas buyers. “The market is fixated on… Read More Here
Gold prices buckle under pressure from 'King Dollar', higher yields 2 Gold International 

Gold prices buckle under pressure from ‘King Dollar’, higher yields

admin
Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.4% to $1,804.01 per ounce as of 1124 GMT, after hitting its lowest since Jan. 31 at $1,786.60 earlier in the session. U.S. gold futures fell 0.3% to $1,802.20.… Read More Here
Gold price retreats as dollar rally dims precious metals appeal 3 Gold International 

Gold price retreats as dollar rally dims precious metals appeal

admin
Gold, along with other precious metals, retreated on Thursday as investors’ attention turned to the accelerating dollar, driven by bets that the US Federal Reserve will stick to aggressive rate hikes. Spot gold fell 1.0% to $1,834.30 per ounce by noon EDT, erasing its gains from the previous session. US gold futures were also down 1.0% to $1,833.90 per ounce in New York. Chipping away gold’s value was the US dollar, which climbed to fresh 20-year highs Thursday, reducing the safe-haven metal’s appeal for other currency holders. “Dollar is rallying… Read More Here
Gold price moves higher after US inflation report 4 Gold International 

Gold price moves higher after US inflation report

admin
Gold climbed higher on Wednesday after hotter-than-expected US inflation fueled expectations that the Federal Reserve will maintain a path of aggressive interest-rate hikes. Spot gold gained 0.8% to $1,853.84 per ounce by 12:20 p.m. ET, but is still tracking lower on a weekly basis. US gold futures were 0.6% higher at $1,851.60 per ounce. According to Labor Department data released Wednesday, the core consumer price index, which excludes food and energy, increased 0.6% from a month earlier and 6.2% from April 2021, exceeding the median forecasts of economists. The broader CPI rose… Read More Here
Asante Gold commissions crusher at Bibiani 5 Gold Equipment & Technology 

Asante Gold commissions crusher at Bibiani

admin1 Comment
Asante Gold has completed the refurbishment of its primary crusher at the Bibiani gold mine in Ghana, and it is now operational. The company anticipates its first gold pour in the September quarter this year. The Vancouver-based company will continue to stockpile ore for the next few weeks to support the imminent start of processing when the downstream process plant equipment is operational. Ore stockpiling on the run of mine pad began in February. The primary crusher system includes a 42-inch by 72-inch gyratory crusher which can provide 544 tonnes… Read More Here
Barrick Gold eyes more copper assets in Africa 6 Gold Mining in Zambia 

Barrick Gold eyes more copper assets in Africa

admin1 Comment
Barrick Gold (TSX:ABX)(NYSE:GOLD) wants to add more copper assets to its African portfolio buoyed by a looming deficit and high prices for the industrial metal, which is also a key component in the making of electric vehicles (EVs) and the renewables sector. The Canadian gold giant already owns the Lumwana copper mine in Zambia, which inherited through its acquisition of Randgold Resources in 2019. The operation was rumoured to be one of 13 assets Barrick sought to sell after the $6 billion merger. The company had a change of heart after President Hakainde Hichilema won a… Read More Here
Gold price extends decline as dollar rallies to 20-year high 7 International Gold 

Gold price extends decline as dollar rallies to 20-year high

admin
Gold prices extended losses on Monday as the dollar rallied to two-decade highs while US Treasury yields also advanced, curbing investors’ enthusiasm for the safe haven metal. Coming off a run of three straight weekly losses spot gold declined another 1.0% to $1,863.96 per ounce by 12:25 p.m. ET Monday. US gold futures, too, dropped 1.0% in New York, trading at $1,862.60 per ounce. Bullion has been sliding since mid-April as the Federal Reserve and other central banks tighten policy to fight rising consumer prices. The monetary squeeze has sent… Read More Here
Ivanhoe Mines Completes Platreef's Production Shaft 1 at the Tier-One Palladium,in South Africa 8 Copper Gold New Mining Projects 

Ivanhoe Mines Completes Platreef’s Production Shaft 1 at the Tier-One Palladium,in South Africa

admin
 Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President, Marna Cloete, announced today at the African Mining Indaba Conference, the completion of the Shaft 1 production changeover at the company’s tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold project in South Africa. Shaft 1 will serve as Platreef’s initial production shaft and is approximately 450 metres away from the first high-grade area of the Flatreef orebody scheduled to be mined during Phase 1 production. On April 22, 2022, Ivanplats celebrated the first blast at Platreef’s 950-metre level,… Read More Here
Gold price pulls back after rate hike bounce 9 Gold International 

Gold price pulls back after rate hike bounce

admin
Gold prices pulled back on Thursday after rising as much as 1% following the half-a-point interest rate hike announced by the US Federal Reserve, the biggest in 22 years. Spot gold slipped 0.2% to $1,876.52 per ounce by 12:30 p.m. ET, having earlier hit its highest since April 29. US gold futures gained a modest 0.3% to $1,875.00 per ounce in New York. “I don’t think a whole lot changed in overall Fed policy from yesterday’s meeting, but it just gave gold and silver traders an excuse to rally the… Read More Here
Barrick Gold Q1 profit beat estimates, doubles dividend 10 Gold International 

Barrick Gold Q1 profit beat estimates, doubles dividend

admin
Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in early March after Russia invaded Ukraine. It has since retreated to around $1 850/oz. The miner’s realized gold price in the quarter rose 5.6% to $1 876/oz from a year earlier, while copper saw a near 14% increase to $4.68./lb. However, the company’s gold production in… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.