Iron Ore, Gold Surge Propel S. Africa Miners to 11-Year High
Businessam Staff
June 13, 2019
The twin tailwinds of rallying iron-ore prices and gold’s haven appeal have driven South African mining stocks to an almost 11-year high. Johannesburg’s FTSE/JSE Africa Mining Index gained as much as 2% Thursday to the highest since July 2008. Anglo American Plc, BHP Group Plc and AngloGold Ashanti Ltd. have contributed most to this year’s […]
Stakeholders seek development of gold business
Businessam StaffJune 7, 2019
Nigeria’s gold refinery, Kian Smith Gold Refinery, in collaboration with Noemdek, a Nigeria-based international advisory firm, has said they will create an avenue for stakeholders to brainstorm on the development of gold business in West Africa. In a statement, the organisations said they planned to do this during their upcoming event aimed at strengthening West […]
Gold poised for gains as global markets brace for turmoil: Reuters poll
Businessam StaffMay 2, 2019
A slowing global economy, stock market turmoil, delays to interest rate rises and potential U.S. dollar weakness are expected to boost average annual gold prices to their highest since 2013, a Reuters poll found. Gold will average $1,322 an ounce this year and $1,369 in 2020, the median forecasts returned by the poll of 34 […]
Gold will break out of slump and test 2018 highs: Standard Chartered’s precious metals expert
Businessam StaffApril 22, 2019
As gold prices sink to worst levels of year, Standard Chartered predicts a test of 2018 highs With gold prices sinking to 2019′s lowest level last Thursday, Standard Chartered’s Suki Cooper believes they’re closing in on oversold territory. One of her key assumptions: The Federal Reserve keeps its interest rate hike policy on hold through […]
Gold gains on softer dollar, focus on U.S.-China talks
Businessam StaffApril 4, 2019
Gold prices rose on Thursday as the U.S. dollar traded close to a one-week low hit in the previous session, while investors awaited progress on the Sino-U.S. trade negotiations. Spot gold climbed by 0.2 per cent to 1,292.16 per ounce as of 0756 GMT. U.S. gold futures firmed 0.1 per cent at 1,296.80 dollar an […]
South African gold output plunges most in six years in December
Businessam StaffFebruary 14, 2019
Production of gold by South African mines retreated the most in six years in December as a strike at the nation’s top producer of the metal continued. Gold output declined 31 percent from a year earlier, compared with a revised 14 percent drop in November, Pretoria-based Statistics South Africa said in a statement on its […]
Gold prices lower as trade worries weigh
Temitayo AyetotoSeptember 12, 2018
After hitting two-week lows in the previous session amid the intensifying US-China trade conflict gold prices traded lower on Wednesday, dropping back below $1,200 in early U.S. trading. Spot gold was up 0.1 percent at $1,196.59 an ounce after hitting its lowest level since August 24 at $1,187.21 on Tuesday. US gold futures were marginally […]
EM central banks acquired 89.4 tonnes of gold in Q2
Temitayo AyetotoAugust 8, 2018
About 89.4 tonnes of gold was acquired by central banks, mostly of emerging market economies, in the second quarter of 2018, according to the World Gold Council. The purchase was higher by eight percent in the same period a year ago, In the first half of 2018, they purchased 193.3 tonnes of the yellow precious […]
Gold, silver see corrective rebounds as sell pressure abates
Temitayo AyetotoAugust 7, 2018
Prices of gold and silver on Tuesday witnessed corrective rebounds from recent selling pressure in the US, according to report monitored by business a.m., but the near-term technical postures for both metals remain heavily bearish. December gold futures were up $5.40 an ounce at $1,223.10. September Comex silver was last up $0.147 at $15.495 an […]
Gold inches higher, struggles to stabilize after weeks of losses
Temitayo AyetotoJuly 24, 2018
Gold inched higher on Tuesday as the dollar slipped, but the precious metal struggled to stabilise even after weeks of losses. Spot gold was 0.2 percent firmer at $1,226.31 an ounce while US gold futures for August delivery rose 0.1 percent to $1,226.50 an ounce. The dollar index, which measures the currency against a basket […]