Category: Gold

The World Gold Council (WGC) called for greater cooperation between large mining companies and artisanal miners and set out recommendations on Thursday to help bring small-scale miners into the market. Mainstream miners and refiners have typically avoided dealing with artisanal miners who use basic equipment, often work outside legal frameworks and can employ children and toxic materials such as mercury. But artisanal mining provides a livelihood to millions of people in Africa, South America and elsewhere, and pressure has grown from governments and non-governmental organisations for more to be done to bring them into… Read More Here

Gold extended gains on Thursday as risk sentiment continues to pile up over the military crisis in Ukraine, with the US and its allies entering discussions on possible further energy sanctions against Russia. Spot gold rose 0.9% to $1,963.48 per ounce by 12:15 p.m. ET, near its highest in two weeks. US gold futures jumped 1.3% to $1,963.50 per ounce in New York. In response to Russia’s continued invasion of Ukraine, the US is currently working with NATO allies on more measures to prepare for the possibility of Russia deploying… Read More Here

Gold edged higher on Wednesday as inflation risks and the intensifying Ukraine crisis propped up demand for safe havens, although a firmer dollar and high bonds yields placed a cap on bullion’s gains. Spot gold rose 0.5% to $1,932.09 per ounce by 12:20 p.m. ET, continuing to recover from its worst week since June. US gold futures traded 0.4% higher at $1,930.20 per ounce in New York. “You’re seeing a little bit of safe-haven demand and a little perceived bargain hunting at lower price levels in the gold market,” Jim Wyckoff, senior… Read More Here

Gold rebounded from its biggest weekly drop since June as the war in Ukraine continued to push oil prices higher, adding more fuel to global inflation fears and boosting the demand for safe havens. Spot gold rose 0.8% to $1,935.30 per ounce by noon ET. US gold futures had a moderate gain of 0.3%, trading at $1,935.20 per ounce in New York. Meanwhile, both the S&P 500 and Nasdaq 100 fell after posting their best five-day streak since November 2020. West Texas Intermediate oil rose above $110 a barrel as investors… Read More Here

Gold steadied on Wednesday after falling to a two-week low earlier as the US Federal Reserve, in a widely expected move, raised interest rates by a quarter of a percentage point. The reversal comes as bullion’s appeal was dimmed by hopes of progress in Russia-Ukraine talks. Earlier, Ukrainian President Volodymyr Zelensky said peace talks were sounding more realistic, even as Russia’s invasion continued. Spot gold rose 0.5% to $1,926.96 an ounce by 5:08 p.m. ET. US gold futures stayed level at $1,927.00 an ounce on the Comex in New York.… Read More Here

Aim-listed The Ramula target at Shanta Gold’s West Kenya project  has received its first mineral resource estimate (MRE). This comes after a successful drilling campaign in 2021, with more updates on other targets – Isulu-Bushiangala and Bumbo – expected in the coming months. The Ramula target adds 434 400 ounces of inferred resources to West Kenya’s total resource, bringing it to 1.6 million ounces, up 36% from the previous MRE. The West Kenya project continues to produce exciting results, according to CEO Eric Zurrin, and the targets reaffirm the project’s… Read More Here

Gold is playing its age-old role as a safe haven in times of wars and crises, and people all over the world are piling in. Russia’s invasion of Ukraine has sent the price of everything from oil and gas to wheat and metals skyrocketing, sparking inflation fears and threatening global growth. That’s driving retail investors everywhere from Vienna and Singapore to New York to the safety of gold, which spiked to $2,070.44 an ounce, close to the record reached during the pandemic. The almost 10% surge in gold prices since… Read More Here