gold

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Chief executives of gold producers almost always voice bullish sentiments about the price of the yellow metal, but mining executives lately have backed their conviction with actions. Most gold miners have eliminated or are in the midst of aggressively closing their hedge books. "You would have to deduce from the actions we have taken in the past year that we are pretty optimistic about where the price of gold is going," said Aaron Regent, CEO of the world's top gold miner Barrick Gold Corp., referring

You would have to deduce from the actions we have taken in the past year that we are pretty optimistic about where the price of gold is going   -Aaron Regent

 

Gold prices inched up on Tuesday, underpinned by ongoing concerns over Europe's debt problems, but rises were capped with investors wary about a possible monetary tightening in China and ahead of a U.S rate decision. * Spot gold Gold was up 0.1 percent at $1,109.35 an ounce, compared to New York's notional close of $1,108.10. * U.S. gold futures for April delivery rose 0.4 percent to $1,109.80 per ounce, compared with $1,105.40 on the COMEX division of the NYMEX. * The world's largest gold-backed ex  

Lovitt Resources Inc.'s sampling program, conducted within its wholly owned Lovitt gold mine in Wenatchee, Wash., continues to produce excellent results. Assay results from further sampling in the I-49 area, on a grid of 25 feet by 25 feet, with a five-foot sampling radius, with 47 samples processed in total to date, indicates an average grade of 6.6 grams per tonne (g/t) gold (Au) (0.19 ounce per ton gold). All samples were collected by a licensed geologist in the state of Washington.  

Medusa Mining (ASX & AIM: MML: TSX: MLL) has advised that the commissioning of the Co-O mill expansion is progressing well and the Company is set to meet its targeted production of 25,000 ounces of gold this quarter. The company is currently expanding its high grade Co-O Mine operations in the Philippines (Indicated Resources 580,000 ounces of gold inclusive of a Probable Reserve of 500,000 ounces of gold, and Inferred Resources 660,000 ounces of gold) to increase its forecast production to 100,000 ounce  

Base metals will have a stellar run in 2010, much as gold did last year, Westpac Banking Corporation director and senior international economist Huw McKay told a conference in Perth on Monday. Aluminium would rise the most, followed by copper, nickel, lead and zinc, McKay said. The gold price was unlikely to fall below $US1,000 per ounce and there was potential for a rise beyond the current $US1,100/oz level, he said.

We see $US1,000 on the gold price as the rough floor   -Huw McKay

 

Gold jewellery business is expected to grow by up to 30% during Akshaya Tritiya, a festival considered auspicious for buying the metal, against the year-ago period on increased consumer confidence, a market expert said here on Monday. "We are hoping that Akshaya Tritiya, to be celebrated on May 16, will increase gold jewellery business by 25-30% compared to the previous year," All India Gems and Jewellery Trade Federation (GJF) Director Sumesh Wadhera said. He said, while gold prices have more or less  

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/15/10 -- Goldrush Resources Ltd. ("Goldrush" or the "Company") (TSX VENTURE: GOD) is pleased to announce that it has closed its previously announced non-brokered private placement of 10,000,000 units of its securities at a price of $0.10 per unit for gross proceeds of $1,000,000. Each unit is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.20 until March 11, 2012. Al  

Kinross Gold ( KGC ) is expanding its asset base in northwest North America by acquiring the North American exploration company, Underworld Resources. Kinross has agreed to acquire Underworld Resources in a deal worth C$139.2 million ($135.3 million). Toronto-based Kinross is offering 0.141 of a Kinross common share, plus C$0.01 in cash for every share of Underworld.