From Gold Jun 18, 2013 08:31 am
Australian Gold Production Down 5% to 63.5 Tonnes in Q1 2013 as Price of Yellow Metal Down to $1,389 an Ounce
The yellow metal once considered a safe haven continues to plummet, not only in price but also in production. Reports from mining consultancy Surbiton Associates said that Australian miners produced 5 per cent less gold in the first quarter of 2013.
From Gold Jun 17, 2013 07:48 pm
India's trade deficit widened to a seven-month high in May as gold imports surged, provisional data showed on Monday, but economists expect newly announced measures to dampen demand for the precious metal in coming months and narrow the shortfall.
From Gold Jun 15, 2013 01:14 pm
A raid by dozens of tax inspectors on RiddiSiddhi Bullions, one of India's biggest gold traders, this week has tarnished the reputation of an industry worth more than $70 billion a year and put at risk its access to funding, a bullion importers' group said.
From Gold Jun 14, 2013 06:35 pm
Despite Indian Finance Minister P. Chidambaram's oft-repeated appeal to desist from buying gold, there is hardly any decline in gold sales across the country and the minister should realise that it was sine-qua-non to his budget beset with huge increase in daily taxes that had hit the country's massive middle class.
From Gold Jun 14, 2013 08:17 am
More Australian miners are selling their mines as the prices of the yellow metal continues to decline in the world market. The latest to join the growing number of resources companies closing operations is Alacer Gold which would sell its Higginsville and South Kalgoorlie gold operations in Western Australia.
From Gold Jun 13, 2013 06:14 pm
Newcrest Mining's problems are far from over. The mining company is facing a class action case filed by angry investors amidst allegations of withholding sensitive information.
From Gold Jun 11, 2013 11:46 am
Pending an investigation, Newcrest Mining has promised to give its full cooperation and allow authorities to look into its disclosure record. The probe comes after share price of Newcrest Mining plummets to its all-time low in 30 years last week. The share price decreased by 15% as gold prices dropped as well.
From Gold Jun 10, 2013 06:10 pm
A Briton has just become perhaps the luckiest man in the world after he found a hoard of 158 gold coins worth roughly 100,000 pounds sterling or a whopping $156,000 using his newly-bought metal detector.
From Gold Jun 10, 2013 09:56 am
The share price of Newcrest Mining falls to an all-time low in 30 years resulting in a $780 million loss for the company. Newcrest Mining blames the drop in gold prices on the company's decision to reduce spending by 20 percent.
From Gold Jun 06, 2013 01:37 pm
Gold fell on Thursday as India's move to hike import duty on the metal for the second time this year raised concerns about demand in the world's biggest bullion consumer.