Category: Gold

Gold advanced Monday as fears of a spillover from debt woes of Asian real estate developer China Evergrande Group stoked demand for havens, outweighing concerns that the Federal Reserve’s reduction in stimulus could come soon. U.S. equities fell more than 2% as investor angst deepened over China’s real-estate sector and the Fed tapering. The dollar advanced to the highest level in nearly a month while Treasury yields slipped, boosting demand for non-interest bearing bullion. “Gold is actually acting as gold. It’s getting flight-to-safety buying due to concerns how bad we’re actually getting with news… Read More Here

Canada’s Asante Gold (TSX-V: ASE), a pure gold exploration and development company, has outlined plans to fast-track its newly added, past-producing Bibiani gold mine in Ghana into production.  The Vancouver-based company, which completed the acquisition of Bibiani from Australia’s Resolute Mining (ASX, LON: RSG) mid-August, said local company Harlequin International had already kicked off the revamp of the three million tonne per year processing plant.  The mill refurbishment is expected to employ up to 300 people and be finished in June 2022, Asante said.   BIBIANI’S MILL REFURBISHMENT IS EXPECTED TO EMPLOY UP TO 300 PEOPLE AND BE FINISHED IN JUNE 2022 The junior noted it was also working on design and planning initiatives for other… Read More Here

Easy come, easy go. The yellow metal rallied on Friday just to plunge on Tuesday. What’s your next move, Mr. Gold? Ugh, the recent rally in gold prices was really short-lived. As the chart below shows, the price of gold increased after the publication of disappointing nonfarm payrolls on Friday. However, it declined as soon as on Tuesday, and on Wednesday it slid below $1800. I have to admit that I expected a more bullish performance. To be clear: I was far from opening champagne. For instance, I pointed out that the tapering of quantitative easing remained on the… Read More Here

Gold extended its losses on Tuesday and is on course for its biggest intraday drop in nearly a month, as a buoyant dollar and higher yield took the shine off the safe-haven metal. Spot gold fell 1.6% to $1,794.17 per ounce by 11:10 a.m. EDT. US gold futures were down 1.9%, trading at $1,799.10 per ounce in New York. In the meantime, the US dollar rose 0.5% against its rivals, making bullion more expensive for holders of other currencies. “The gold market is seeing some retracement” with the dollar likely… Read More Here

During the worst pandemic in over a century, many companies are trying to stay above water and many would appreciate steady year-over-year revenue, let alone sales growth. The context of the pandemic makes Equinox Gold Corp.’s (TSX:EQX) mind-boggling 96,081.2% revenue growth over five years even more amazing. Equinox Gold recorded the largest revenue growth on BIV’s top 100 fastest-growing list since 2013 and posted greater growth than all the first-place companies combined in the intervening years. “We had this vision of creating a top 10 or 15 gold mining company… Read More Here