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Category: Gold

Barrick Gold Q1 profit beat estimates, doubles dividend 1 Gold International 

Barrick Gold Q1 profit beat estimates, doubles dividend

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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
Gold price falls to near 3-month low as Fed meeting approaches 2 Gold International 

Gold price falls to near 3-month low as Fed meeting approaches

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Gold prices fell to a near three-month low on Monday as increased prospects of faster rate hikes by the US Federal Reserve lifted both Treasury yields and the dollar, swaying investors away from the precious metal. Spot gold declined 1.6% to $1,869.52 per ounce by 12:20 p.m. ET, its lowest since mid-February. US gold futures took a 2.3% hit, trading at $1,867.50 per ounce in New York. Meanwhile, the dollar hovered close to a 20-year high amid global growth concerns and expectations of more hawkish tone from the Fed. Benchmark… Read More Here
With the exception of tantalum, all other main DRC export minerals are trending down this week from May 2-7, 2022 3 Copper Cobalt Gold Mining in DRC Zinc 

With the exception of tantalum, all other main DRC export minerals are trending down this week from May 2-7, 2022

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The general trend of the main mineral export products of the Democratic Republic of the Congo is downward for the main mineral exports of the Democratic Republic of the Congo, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. Only tantalum is showing an uptrend this week. It is trading on the international market at 390 USD per Kg against 386.60 USD per Kg last week, i.e. a price increase of 3.4 USD. Copper is down this week at 10,047.05 USD per tonne against 10,284.55 USD… Read More Here
Gold price back above $1,900, but still on pace for monthly drop 4 Gold International 

Gold price back above $1,900, but still on pace for monthly drop

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Gold reversed course and climbed back above the $1,900/oz level on Friday, as the precious metal was boosted by a pullback in the dollar. Spot gold gained 0.8% to $1,910.26/oz by 11:00 a.m. ET, having dropped to a two-month low earlier this week. US gold futures were up by 1.2%, trading at $1,915.30/oz on the Comex. “The dollar strengthening early in the week was a major driver for the gold weakness, and as we’ve seen the dollar reverse … that is clearly lending some support to gold,” Saxo Bank analyst Ole Hansen told Reuters,… Read More Here
Shanta on track to become 100 000 oz/y gold producer 5 Gold 

Shanta on track to become 100 000 oz/y gold producer

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Aim-listed Shanta Gold recorded a good start to the year operationally, with mining beginning a month ahead of schedule at the high-grade Bauhinia Creek Crown Pillar at the New Luika gold mine (NLGM), in Tanzania, CEO Eric Zurrin notes in a production and operational results update for the quarter ended March 31. “With the initial ore being mined at the expected grades of 8 g/t, we are confident that our 2022 guidance of 68 000 oz to 76 000 oz has been significantly derisked,” he says. Further, the company’s Singida project, in Tanzania, remains on budget and on schedule, and with construction well… Read More Here
Gold price slips below $1,900 as rate hike fears get better of safe haven metal 6 Gold International 

Gold price slips below $1,900 as rate hike fears get better of safe haven metal

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Gold prices slipped further on Monday as prospects of aggressive policy tightening by the US Federal Reserve and a stronger dollar dimmed the precious metal’s safe haven appeal. Spot gold dropped 1.7% to $1,896.42 an ounce by 12:25 p.m. ET, the first time it fell below $1,900 in four weeks. US gold futures slumped by 2.0% to trade at $1,896.00 an ounce. “It seems that the fears about rate hikes have gotten the upper hand as of late,” Julius Baer analyst Carsten Menke told Reuters. With expectations for a half-percentage point interest… Read More Here
Kinross sells Chirano gold mine in Ghana to Asante in $225m deal 7 Gold 

Kinross sells Chirano gold mine in Ghana to Asante in $225m deal

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Kinross Gold (TSX: G) (NYSE: KGC) is selling its 90% interest in the Chirano mine in Ghana to fellow Canadian Asante Gold (CSE: ASE) in a cash and shares deal worth $225 million. The open-pit and underground mining operation in southwestern Ghana produced 154,668 gold-equivalent ounces in 2021, compared to 166,590 in 2020 and is located immediately south of Asante Gold’s Bibiani gold mine. The government of Ghana holds a 10% interest.   The Toronto-based company will receive $115 million in cash and Asante common shares with a value of $50 million based on… Read More Here
1kg gold bar climbs to 63,812.04 USD on the international market as of April 20, 2022 8 Gold International 

1kg gold bar climbs to 63,812.04 USD on the international market as of April 20, 2022

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The price of gold on the international market continues to thwart the projections of experts in this field. Contrary to projections by the National Mercurial Commission of the Ministry of Foreign Trade of the DRC, the quotation of gold on the stock exchange as of April 20, 2022 stood at 63,812.04 USD for the gold bar of 1 kilogram on the international market. On the Antwerp Stock Exchange, the 1 kilogram gold bar trades at €59,000.00 or US$63,771.92. According to the release of the National Commission of Mercurials, for the… Read More Here
Gold price drops as stronger dollar, yields weigh on safe havens 9 Gold International 

Gold price drops as stronger dollar, yields weigh on safe havens

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Gold prices fell over 1% on Tuesday as a stronger US dollar and rising Treasury yields overshadowed inflows into the safe-haven metal. Spot gold dropped 1.1% to $1,957.20 per ounce by 12:45 p.m. ET, erasing its gains from the previous session. US gold futures took a 1.4% hit, trading at $1,959.30 per ounce in New York. Meanwhile, the dollar index scaled an over two-year peak, making gold more expensive for overseas buyers. Elevated US Treasury yields amid expectations that the Federal Reserve will tighten its monetary policy also hampered the non-yielding bullion.… Read More Here
The price of gold is close to 2000 USD per ounce on the international market 10 Gold International 

The price of gold is close to 2000 USD per ounce on the international market

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The price of gold hit a five-week high on Monday as war in Europe, high inflation and the risk of a recession in the United States further bolstered demand for the safe-haven asset. Spot gold rose 0.7% to $1,988.15 an ounce at noon ET, closing in on the $2,000 level last seen in early March. US gold futures rose 0.8% to trade at $1,991.00 an ounce in New York. After capping a second weekly gain, bullion soared as high as 1% earlier in the day on higher oil and natural gas… Read More Here

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