Gold - Copperbelt Katanga Mining

Gold falls to one-month low on Powell’s hawkish remarks

December 2, 2021December 2, 2021 admin

Gold plumbed a one-month low on Thursday as US Federal Reserve chairman Jerome Powell‘s comments on the need to tame inflation bolstered bets for faster monetary policy tightening and offset Omicron-driven safe-haven inflows into bullion. Spot gold fell 0.4% to $1 775.80 per ounce by 11:02 GMT, having earlier hit its lowest since Nov. 4. US gold futures dropped 0.5% to $1 775.30. In his second day of testimony in Congress on Wednesday, Powell said the Fed needed to be ready to respond to the possibility that inflation might not recede… Read More Here

Gold International

Gold climbs as Moderna CEO’s warning rattles risk appetite

December 1, 2021January 21, 2022 admin

Gold climbed higher on Tuesday as investors sought safe havens again after Moderna’s CEO warned Covid-19 vaccines were likely to be less effective against the Omicron variant, putting bullion on course for a second straight monthly gain. Spot gold rose 0.4% to $1 792.23 per ounce by 1255 GMT, while US gold futures advanced 0.5% to $1 794.70. The Moderna chief’s comments rattled financial markets, leading to a slide in European equities. The US dollar index also fell 0.6%, helping gold’s advance by making it a cheaper bet for overseas buyers, while U.S. benchmark 10-year Treasury yields hit their… Read More Here

Gold International

Gold rises as Omicron fears offset strength in dollar

November 29, 2021November 29, 2021 admin

Gold prices edged higher on Monday as concerns over the impact of the Omicron coronavirus variant offset a stronger dollar, with investors assessing whether the emergence of the variant could change the U.S. Federal Reserve’s hawkish stance. Spot gold rose 0.2% to $1,794.87 per ounce by 0646 GMT, while U.S. gold futures advanced 0.5% to $1,794.20. With new cases of the Omicron variant found in the Netherlands, Denmark and Australia, more countries imposed travel restrictions to try to seal themselves off. “Given the uncertainty around whether this new variant is… Read More Here

Gold International

Gold gains as new Covid-19 variant lifts safe-haven demand

November 26, 2021November 26, 2021 admin

Gold prices gained on Friday, as concerns over the spread of a newly identified coronavirus variant boosted the metal’s safe-haven appeal, although bullion was set for a weekly drop on growing bets the US Federal Reserve could turn more hawkish. Spot gold was up 0.5% at $1 797.46/oz, as of 04:45 GMT. US gold futures advanced 0.8% to $1 797.70. The variant, detected by scientists in South Africa, may be able to evade immune responses and has prompted Britain to hurriedly introduce travel restrictions on the African nation. Further aiding gold’s climb, the dollar index eased 0.2%… Read More Here

Gold

B2Gold weighs acquisition of gold assets in Zimbabwe

November 26, 2021November 26, 2021 admin

B2Gold Corp., the Canadian company that owns mines in Africa and the Philippines, is interested in acquiring gold assets in Zimbabwe. The mid-tier gold producer which has mines in Mali, Namibia and the Philippines, has held talks with the government and other officials in the southern African nation “to see if they are ready for us to come in,” said Clive Johnson, chief executive officer at the Vancouver-based company. “There is really a strong case and we are making that case in Zimbabwe,” Johnson said in a Nov. 24 interview.… Read More Here

Gold International

Gold price drops to 2-week low as Fed opens door to faster tapering

November 23, 2021November 23, 2021 admin

Gold erased more than two weeks’ worth of gains on Monday, pressured by a firmer dollar and expectations that the US Federal Reserve may accelerate the pace of policy tightening to combat inflation. Spot gold was down 1.6% to $1,816.91/oz by noon ET, after falling to its lowest since Nov. 5 at $1,812.09/oz earlier in the session. US gold futures declined 1.8% to $1,818.10/oz in New York. Bullion’s latest pullback comes after comments from Fed Vice-Chair Richard Clarida last week suggested that the central bank would table the idea of tapering its… Read More Here

Gold

Partners aim to improve Africa’s gold traceability

November 16, 2021November 16, 2021 admin

Agreement between Minexx and NGO covers community development initiatives. Traceability platform specialists Minexx has agreed on a memorandum of understanding (MoU) with Solidaridad, an international civil society organisation, to improve the gold supply chain in Africa. The companies said that the MoU would cover projects related to traceability and how to link it to community development on future joint initiatives. Specifically, it would increase transparency in artisanal and small-scale mining (ASM), which the companies said is linked to “money laundering and criminality.” They explained it is “extremely important” to combine transparency… Read More Here

Gold

Gold and climate change

November 16, 2021November 16, 2021 admin

The World Gold Council and its members recognise that climate change imposes very substantial risks to the global economy and socio-economic development. Policy makers, industry stakeholders, asset owners, investors, and wider society are now eager for a greater understanding of these risks and their potential consequences, and how they might be mitigated or managed in future. To contribute to a clearer, more consistent appreciation of how climate-related risks (and opportunities) might impact the future prospects of the gold industry, we have undertaken a programme of research, in collaboration with leading… Read More Here

Gold International

Gold price rally stalls as China data shows growth stabilizing

November 16, 2021November 16, 2021 admin

Gold steadied as investors mulled what’s next for inflation and monetary policy, while scrutinizing better-than-expected economic data from China. Bullion finished last week at its highest since June as accelerating price pressures rocked bond markets and fueled demand for the traditional haven. Treasuries are steadier on Monday as investors await public appearances by Federal Reserve officials and other central bankers in coming days. In China, a flurry of figures on everything from industrial output to retail sales showed the country’s economy stabilizing as spending improved and power supply picked up.… Read More Here

Mining in DRC Gold

Cyrille Mutombo: “the demolition of anarchic constructions within Kibali carried out in accordance with the standards”

November 13, 2021November 13, 2021 admin

Contrary to what some call illegal and brutal, the anarchic building demolition in the Kibali no-go zone took place in the nomes. These are the words of the Country Director of Kibali Gold Mines who was the guest, this Friday, November 5, 2021, on Top Congo FM. He thus wanted to dispel any misunderstanding and enlighten public opinion on what really took place during this whole process which dates back several years. According to Cyrille Mutombo, all the people concerned by this demolition, before being dislodged, have been informed for more… Read More Here