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Market: .
Sector: Gold Mining
Epic: GOLD
News: Latest news
Web Site: Gold
Other Articles: 19-08-201018-08-201010-08-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Gold

Gold

Gold is a chemical element with the symbol Au and the currency code is XAU. It is a highly sought-after precious metal which, for many centuries, has been used as money, a store of value and in jewelry. The metal occurs as nuggets or grains in rocks, underground "veins" and in alluvial deposits. Modern industrial uses include dentistry and electronics, where gold has traditionally found use because of its good resistance to oxidative corrosion.
Wednesday, November 18, 2009

Gold continues upward assault, Goldfields and Lihir Gold post modest gains

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The gold price continued its march forward as investors continue to seek shelter from the US Dollar’s devaluation. As the dollar persistently slides, the yellow metal rises on-and-on with futures hitting the latest new record highs at $1,155. The dollar index, which represents the greenbacks comparative strength against a basket of six major currencies, fell a further half percent overnight.


For months, the gold market has persistently fed off US dollar weakness; this latest push to new highs was helped by further dollar declines. The US Dollar Index, which reflects the relative strength of the greenback against a basket of the other six major currencies, dropped a further 0.5% this morning.


With gold prices making persist gains many analysts and commentators now see $1,200 gold in 2009 as a real possibility.


GoldFields (NYSE: GFI) and Lihir Gold (NASDAQ: LIHR) were the strongest major gold stock today as they advanced almost 1%. GoldCorp Inc (NYSE: GG) and Newmont Mining Corp (NYSE: NEM) both traded more than half a percent higher than last night’s close.


Yamana Gold (NYSE: AUY) and Kinross Gold (NYSE: KGC) both gained one third of a percent Meanwhile AngloGold Ashanti (NYSE: AU) and Barrick Gold (NYSE: ABX). Elsewhere a couple of gold majors had a tougher time of things, Randgold Resources (NYSE: GOLD) slid almost a quarter of a percent lower while Polyus Gold (IOB: PLZL.IL) dropped 1%.


Both Keegan Resources (AMEX: KGN) and Eldorado Gold Corp (AMEX: EGO) led the gold equities on the American Stock Exchange, as each company advanced more than 2%. IAM Gold (NYSE: IAG) and Minefinders (AMEX: MFN) climbed almost 1% higher than Tuesday’s close.


Agnico Eagle (NYSE: AEM) and Nevsun Resources (AMEX: NSU) both gained half a percent, while Exeter Resource Corp (AMEX: XRA) were also higher after rising around a third of a percent. Moving in the opposite direction, New Gold (AMEX: NGD) and Rubicon Minerals (AMEX: RBY) both fell, easing a quarter of a percent.


In Toronto, Kent Exploration (TSX-V: KEX) was the strongest performer as the junior exploration play climbed nearly 4%. Victoria Gold Corp (TSX-V: VIT) followed, rising almost 2%. Elsewhere Centamin Egypt (TSX: CEE) fell three quarters of a percent.


Bravo Venture Group(TSX-V: BVG), Kootenay (TSX: KTN) and Hawthorne Gold Corp (TSX-V: HGC) were unchanged on the day.

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