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Market: .
Sector: Gold Mining
Epic: GOLD
News: Latest news
Web Site: Gold
Other Articles: 05-02-201003-02-201003-02-2010

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Tuesday February 09, 08:53Mediterranean Oil & Gas doubles proven and probable reserves for Ombrina Mare to 40 mmbbls

The good news gave a welcome boost to the group's share price, sending the stock up nearly 15 percent in early trade.

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Monday February 08, 10:19Western Uranium one to watch in manganese exploration in 2010

If BHP Billiton and Anglo American Corp's, Groote Eylandt Mining Company world class manganese mine is anything to go by, then Western Uranium's adjacent tenements look very interesting.

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Monday February 08, 02:53Chindex International reports increasing medical and healthcare revenues

Healthcare products and services group Chindex International (NASDAQ: CHDX) reported increasing revenues as it continued to expand its operations in the People’s Republic of China (PRC).

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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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