(Bloomberg) - Newcrest Mining Ltd., Australia's largest gold-mining company, rose to a record and led gains in Asian producers including Zijin Mining Group Co. after the price of the metal reached its highest ever.
Bullion extended a seven-year rally as the dollar weakened and crude oil reached $100 a barrel for the first time, stoking expectations for inflationary. Gold surged to a record $860.10 an ounce yesterday.
Rising jewelry demand in China and India and from investors seeking a hedge against inflation helped gold more than double in the past five years. Gold miners in China and Australia, the world's second and third-largest producers, are opening new mines and hunting for acquisitions to meet demand.
Read more at Bloomberg
Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts
Thursday, January 3, 2008
Monday, August 6, 2007
Harmony expects Q4 headline loss between 130-160 cts
(Reuters) - South African gold miner Harmony Gold expects to report headline loss per share of between 130-160 cents per share for the June 2007 quarter, the firm said in a statement on Monday.
Harmony, the world's fifth-biggest gold producer, said it expected to report headline profit of between 20-30 cents per share for the 2007 financial year, compared with a headline loss of 269 cents.
Read more at Reuters Africa
Harmony, the world's fifth-biggest gold producer, said it expected to report headline profit of between 20-30 cents per share for the 2007 financial year, compared with a headline loss of 269 cents.
Read more at Reuters Africa
Sunday, August 5, 2007
Gold Little Changed in Asia as Dollar Weakness Boosts Appeal; Silver Rises
(Bloomberg) -- Gold in Asia was little changed near a
one-week high, supported by investors demand for the precious
metal as an alternative asset after the dollar weakened on signs
the U.S. economy might slow. Silver rose.
Gold usually moves in the opposite direction to the dollar,
which fell to a four-month low against the Japanese yen and also
traded near a record low against the euro today. Speculation that
a slowing U.S. economy may keep the Federal Reserve from raising
interest rates also weakened the dollar and boosted the appeal of
the precious metal as alternative investment.
Read more at Bloomberg Commodities News
one-week high, supported by investors demand for the precious
metal as an alternative asset after the dollar weakened on signs
the U.S. economy might slow. Silver rose.
Gold usually moves in the opposite direction to the dollar,
which fell to a four-month low against the Japanese yen and also
traded near a record low against the euro today. Speculation that
a slowing U.S. economy may keep the Federal Reserve from raising
interest rates also weakened the dollar and boosted the appeal of
the precious metal as alternative investment.
Read more at Bloomberg Commodities News
Friday, August 3, 2007
Gold, Silver Rise as Lack of Higher U.S. Interest Rates May Erode Dollar
(Bloomberg) -- Gold and silver rose in New York on
speculation a slowing U.S. economy may keep the Federal Reserve
from raising interest rates, weakening the dollar and boosting
the appeal of precious metals as alternative investments.
Five of the past six bear markets for the dollar have
resulted in a higher gold price. The metal is up 6.7 percent
this year as the dollar has declined to a record low against the
euro. Investment in StreetTracks Gold Trust, an exchange-traded
fund backed by bullion, reached a record 507 tons on Aug. 1.
Read more at Bloomberg Commodities News
speculation a slowing U.S. economy may keep the Federal Reserve
from raising interest rates, weakening the dollar and boosting
the appeal of precious metals as alternative investments.
Five of the past six bear markets for the dollar have
resulted in a higher gold price. The metal is up 6.7 percent
this year as the dollar has declined to a record low against the
euro. Investment in StreetTracks Gold Trust, an exchange-traded
fund backed by bullion, reached a record 507 tons on Aug. 1.
Read more at Bloomberg Commodities News
Friday, July 27, 2007
Gold rebounds after sell-off, Tokyo hits 1-month low
(Reuters) - Gold recovered on Friday after tumbling to its lowest in two weeks the previous day, while Tokyo futures slipped for the fifth day in a row to a one-month low as investors ditched their holdings.
"A plunge in U.S. shares has triggered some sell-offs in commodities, but the market is not panicking now. We've seen a similar turbulence in the last several months, so I think the market is getting used to it," said Shuji Sugata, manager at Mitsubishi Corp Futures and Securities.
Read more at Reuters Africa
"A plunge in U.S. shares has triggered some sell-offs in commodities, but the market is not panicking now. We've seen a similar turbulence in the last several months, so I think the market is getting used to it," said Shuji Sugata, manager at Mitsubishi Corp Futures and Securities.
Read more at Reuters Africa
Wednesday, July 25, 2007
Lihir Gold Second-Quarter Output Advances 61 Percent on Expansion of Mine
(Bloomberg) -- Lihir Gold Ltd., a Papua New Guinea
gold mining company, said second-quarter output increased 61
percent after plant capacity at its mine expanded.
Production was 182,428 in the three months ended June 30,
the Port Moresby-based company said today in a statement.
Read more at Bloomberg Commodities News
gold mining company, said second-quarter output increased 61
percent after plant capacity at its mine expanded.
Production was 182,428 in the three months ended June 30,
the Port Moresby-based company said today in a statement.
Read more at Bloomberg Commodities News
U.K.'s FTSE 100 Drops Second Day, Led by Friends Provident, Punch Taverns
(Bloomberg) -- U.K. stocks slid for a second day,
paced by Friends Provident Plc and Resolution Plc after the
insurers agreed to merge.
Punch Taverns Plc paced a decline in pub owners after
Goldman, Sachs & Co. removed the shares from its ``conviction
buy'' list. Antofagasta Plc led mining companies lower as the
price of copper fell in Shanghai.
Read more at Bloomberg Stocks News
paced by Friends Provident Plc and Resolution Plc after the
insurers agreed to merge.
Punch Taverns Plc paced a decline in pub owners after
Goldman, Sachs & Co. removed the shares from its ``conviction
buy'' list. Antofagasta Plc led mining companies lower as the
price of copper fell in Shanghai.
Read more at Bloomberg Stocks News
Tuesday, July 24, 2007
UPDATE 1-Chrysler's bankers may take on debt-WSJ
(Reuters) - Chrysler is being spun off by German parent DaimlerChrysler
in a $7.4 billion deal with Cerberus Capital
Management [CBS.UL].
Chrysler's bankers -- including J.P. Morgan Chase & Co.
, Goldman Sachs Group Inc. , Citigroup Inc.
, Bear Stearns Cos. and Morgan Stanley --
have spent the past month trying to convince investors to buy
$12 billion in loans for Chrysler's auto business and $8
billion in loans for its financial arm, according to the
report.
Read more at Reuters.com Mergers News
in a $7.4 billion deal with Cerberus Capital
Management [CBS.UL].
Chrysler's bankers -- including J.P. Morgan Chase & Co.
, Goldman Sachs Group Inc. , Citigroup Inc.
, Bear Stearns Cos. and Morgan Stanley --
have spent the past month trying to convince investors to buy
$12 billion in loans for Chrysler's auto business and $8
billion in loans for its financial arm, according to the
report.
Read more at Reuters.com Mergers News
Gold hits 11-week high on record low dollar
(Reuters) - Gold hit an 11-week peak and silver rose to its highest in seven weeks on Tuesday, powered by the dollar that plunged to a new historic low against the euro.
Gold has gained about seven percent, or nearly $50, since a trough at the end of June. By 1403 GMT, spot gold stood at $684.05/684.65 a troy ounce after rising as high as $687.10, against $681.00/$681.80 in New York late on Monday.
Read more at Reuters Africa
Gold has gained about seven percent, or nearly $50, since a trough at the end of June. By 1403 GMT, spot gold stood at $684.05/684.65 a troy ounce after rising as high as $687.10, against $681.00/$681.80 in New York late on Monday.
Read more at Reuters Africa
Friday, July 20, 2007
Gold hits new 10-week high as dollar near record low
(Reuters) - Gold climbed to a new 10-week high on Friday on follow-through buying, supported by a weaker dollar that hovered near a record low against the euro.
Other precious metals also advanced, with platinum hitting a two-month high, silver rising to its highest in six weeks and palladium increasing to a two-week high.
Read more at Reuters Africa
Other precious metals also advanced, with platinum hitting a two-month high, silver rising to its highest in six weeks and palladium increasing to a two-week high.
Read more at Reuters Africa
Wachovia quarterly profit rises 24pct
(Reuters) - NEW YORK, July 20 - Wachovia Corp. , the fourth-largest U.S. bank, said on Friday its second-quarter profit rose 24 percent, helped by growth in lending and the purchase of Golden West Financial Corp.
Net income for the Charlotte, North Carolina-based company was $2.34 billion, or $1.22 per share, up from $1.88 billion, or $1.17 a share, a year earlier.
Read more at Reuters.com Market News
Net income for the Charlotte, North Carolina-based company was $2.34 billion, or $1.22 per share, up from $1.88 billion, or $1.17 a share, a year earlier.
Read more at Reuters.com Market News
Thursday, July 19, 2007
Gold, Silver Gain as Dollar's Slump Boosts Metals' Appeal as Investment
(Bloomberg) -- Gold and silver gained for a second
day in New York on speculation a decline in the value of the
dollar will boost the appeal of precious metals as alternative
investments.
Gold generally moves in the opposite direction of the
dollar. The U.S. currency fell to a record against the euro
yesterday on speculation that interest rates will rise faster in
Europe after Federal Reserve Chairman Ben S. Bernanke scaled
back forecasts for U.S. economic growth.
Read more at Bloomberg Commodities News
day in New York on speculation a decline in the value of the
dollar will boost the appeal of precious metals as alternative
investments.
Gold generally moves in the opposite direction of the
dollar. The U.S. currency fell to a record against the euro
yesterday on speculation that interest rates will rise faster in
Europe after Federal Reserve Chairman Ben S. Bernanke scaled
back forecasts for U.S. economic growth.
Read more at Bloomberg Commodities News
Tuesday, July 17, 2007
Coffeyville Refinery in Kansas on `Accelerated Pace' to Start After Flood
(Bloomberg) -- Coffeyville Resources LLC, a refinery
owned by a Goldman Sachs Group Inc. unit and the buyout firm
Kelso & Co., is on an ``accelerated pace'' to resume gasoline and
diesel production after a July 1 flood shut the plant.
No target date has been set for starting oil-processing
units at the plant, located 170 miles south of Kansas City,
Kansas, said Allen Rempe, senior crude-oil buyer for Sugar Land,
Texas-based Coffeyville.
Read more at Bloomberg Energy News
owned by a Goldman Sachs Group Inc. unit and the buyout firm
Kelso & Co., is on an ``accelerated pace'' to resume gasoline and
diesel production after a July 1 flood shut the plant.
No target date has been set for starting oil-processing
units at the plant, located 170 miles south of Kansas City,
Kansas, said Allen Rempe, senior crude-oil buyer for Sugar Land,
Texas-based Coffeyville.
Read more at Bloomberg Energy News
Gold, Silver Futures May Rise in New York on Speculation Dollar to Weaken
(Bloomberg) -- Gold and silver, little changed in
New York, may rise on speculation a decline in the value of the
dollar will boost demand for the precious metals as alternative
investments.
Gold generally moves in the opposite direction of the
dollar, which was little changed against the euro today after
falling to a record last week. Gold and the euro both have
gained 4.4 percent this year.
Read more at Bloomberg Commodities News
New York, may rise on speculation a decline in the value of the
dollar will boost demand for the precious metals as alternative
investments.
Gold generally moves in the opposite direction of the
dollar, which was little changed against the euro today after
falling to a record last week. Gold and the euro both have
gained 4.4 percent this year.
Read more at Bloomberg Commodities News
Gold Falls in London on Central Bank Sales Speculation; Silver Declines
(Bloomberg) -- Gold fell in London for a second
consecutive day on speculation that central banks are increasing
sales of the metal. Silver declined.
Bullion has gained for the past two weeks, partly because
central banks had slowed sales, New York-based Morgan Stanley
analysts led by Hussein Allidina said in a report yesterday.
European central banks have sold 305 tons out of the 500 tons
allowed under an agreement that covers the period through Sept.
26, London-based World Gold Council investment research manager
Natalie Dempster said.
Read more at Bloomberg Commodities News
consecutive day on speculation that central banks are increasing
sales of the metal. Silver declined.
Bullion has gained for the past two weeks, partly because
central banks had slowed sales, New York-based Morgan Stanley
analysts led by Hussein Allidina said in a report yesterday.
European central banks have sold 305 tons out of the 500 tons
allowed under an agreement that covers the period through Sept.
26, London-based World Gold Council investment research manager
Natalie Dempster said.
Read more at Bloomberg Commodities News
Monday, July 16, 2007
Gold, Silver Prices Little Changed in Asia as Dollar Stabilizes Vs Euro
(Bloomberg) -- Gold was little changed in Asia
after falling for the first day in three yesterday as the
dollar's decline seemed to stall, reducing the precious metal's
appeal as an alternative investment. Silver was unchanged.
Gold generally moves in tandem with the euro, which fell
for the second day yesterday after reaching a record against the
dollar on July 13. Gold has gained 4.5 percent while the euro
has risen 4.4 percent against the dollar this year. Europe's
single currency traded at $1.3787 at 2:16 p.m. in Singapore
compared with an all-time high of $1.3814.
Read more at Bloomberg Commodities News
after falling for the first day in three yesterday as the
dollar's decline seemed to stall, reducing the precious metal's
appeal as an alternative investment. Silver was unchanged.
Gold generally moves in tandem with the euro, which fell
for the second day yesterday after reaching a record against the
dollar on July 13. Gold has gained 4.5 percent while the euro
has risen 4.4 percent against the dollar this year. Europe's
single currency traded at $1.3787 at 2:16 p.m. in Singapore
compared with an all-time high of $1.3814.
Read more at Bloomberg Commodities News
Rosneft Cancels Sale of Dollar-Denominated Bonds, Bankers Organizing Say
(Bloomberg) -- OAO Rosneft, Russia's biggest oil
producer, canceled its plan to sell dollar-denominated bonds,
according to bankers organizing the offering who asked not to be
identified because the decision hasn't been publicly disclosed.
Moscow-based Rosneft had hired ABN Amro Holding NV,
Barclays Capital, Citigroup Inc. and Morgan Stanley to arrange
the sale, according to an e-mailed statement sent by Morgan
Stanley on July 4. BNP Paribas SA, Calyon, JPMorgan Chase & Co.
and Goldman Sachs Group Inc. were also organizing the sale.
Read more at Bloomberg Bonds News
producer, canceled its plan to sell dollar-denominated bonds,
according to bankers organizing the offering who asked not to be
identified because the decision hasn't been publicly disclosed.
Moscow-based Rosneft had hired ABN Amro Holding NV,
Barclays Capital, Citigroup Inc. and Morgan Stanley to arrange
the sale, according to an e-mailed statement sent by Morgan
Stanley on July 4. BNP Paribas SA, Calyon, JPMorgan Chase & Co.
and Goldman Sachs Group Inc. were also organizing the sale.
Read more at Bloomberg Bonds News
Friday, July 13, 2007
Gold Heads for Biggest Weekly Gain in Six on Dollar's Slide; Silver Falls
(Bloomberg) -- Gold, little changed in New
York, headed for the biggest weekly gain in six as a
decline in the value of the dollar increased demand for the
precious metal as an alternative investment. Silver fell.
Gold generally moves in the opposite direction of the
U.S. currency, which fell to a record low against the euro.
Before today, gold had gained 4.8 percent this year while
the euro had climbed 4.5 percent against the dollar.
Read more at Bloomberg Commodities News
York, headed for the biggest weekly gain in six as a
decline in the value of the dollar increased demand for the
precious metal as an alternative investment. Silver fell.
Gold generally moves in the opposite direction of the
U.S. currency, which fell to a record low against the euro.
Before today, gold had gained 4.8 percent this year while
the euro had climbed 4.5 percent against the dollar.
Read more at Bloomberg Commodities News
Wednesday, July 11, 2007
U.K.'s FTSE 100 Benchmark Index Declines; Shell, BP, HSBC Shares Lead Drop
(Bloomberg) -- U.K. stocks fell for a second day,
led by Royal Dutch Shell Plc and BP Plc after Goldman, Sachs &
Co. downgraded the energy companies' shares and crude oil
retreated.
HSBC Holdings Plc and HBOS Plc declined on concern losses in
subprime mortgages in the U.S. will erode economic and earnings
growth.
Read more at Bloomberg Stocks News
led by Royal Dutch Shell Plc and BP Plc after Goldman, Sachs &
Co. downgraded the energy companies' shares and crude oil
retreated.
HSBC Holdings Plc and HBOS Plc declined on concern losses in
subprime mortgages in the U.S. will erode economic and earnings
growth.
Read more at Bloomberg Stocks News
Tuesday, July 10, 2007
Gold hits fresh one-month high as dollar falls
(Reuters) - Gold rose to a new one-month high on Tuesday as the weaker dollar stimulated buying and investor sentiment towards the precious metal strengthened.
Gold's comeback began the previous day when most commodity markets rallied to take leading indexes back up to 2006 highs after crude oil hit an 11-month peak and copper a two-month high.
Read more at Reuters Africa
Gold's comeback began the previous day when most commodity markets rallied to take leading indexes back up to 2006 highs after crude oil hit an 11-month peak and copper a two-month high.
Read more at Reuters Africa
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