China’s gold demand seen flat as economy slows

Gold demand growth in China, the second-largest consumer, may stagnate this year as declining prices put off investors and slower economic growth crimps sales, according to the mainland’s biggest gold-jewellery maker. “The volatility and...

Anglo's struggle over platinum showcases sector woes

Miner Anglo American has made a priority of its struggling platinum business, admitting earlier this year that the world's largest primary producer is underperforming in the face of soaring costs, imposed safety stoppages and weak demand. But...

Tanzania 2011 gold production up 13%

Tanzania's gold production rose to 40.4 t in 2011 from 35.6 t a year ago after mining companies invested in higher output due to cash in on the rising price of the precious metal, its central bank said on Tuesday. The east African state, Africa's...

Gold hits 4-1/2 month low on Greece turmoil

Gold extended losses on Wednesday to slip to its weakest level since late December after efforts to form a new government in Greece collapsed, prompting investors to cut their exposure to the precious metal. Bullion has this year been moving in...

Paulson holds to gold ETFs in Q1, profits as prices rise

Prominent hedge fund manager John Paulson held on to his exchange-traded fund (ETF) bullion holdings in the first quarter of this year, profiting from an early surge in gold prices before the market tanked, a regulatory filing by his company...

SA gold miners hit by price, led by Gold Fields

Gold Fields, the world's fourth-largest bullion producer, led its peers sharply lower on Monday as the precious metal's spot price fell to four-and-a-half month lows. Gold Fields lost more than 5% at one point and at 14:15 GMT was 4.89% lower at...

Gold drops to 4-1/2-month low on eurozone worries

Gold prices fell to a four-and-a-half-month low on Monday, hit by concerns about a worsening debt crisis in the euro zone following political deadlock in Greece which fuelled risk aversion and put pressure on the euro. Spot gold hit a session low...

Silver Wheaton Q1 profit improves by 20%

Royalties and streaming firm Silver Wheaton on Monday posted a 20% year-on-year increase in first-quarter net earnings to $147.2-million, or 42c a share, driven by increased demand from mines with which the company has off-take agreements. The...

NAP narrows Q1 loss on better production and prices

North American Palladium, which mines the precious metal near Thunder Bay, Ontario, on Thursday posted a $0.9-million, or $0.01, a share loss for the first quarter, an improvement of the $10.3-million it was in the red for during the same period...

Hecla profit falls on higher costs, mine disruptions

Precious metals miner Hecla Mining posted a lower first-quarter profit as it was hurt by higher costs and disruptions at some mines, but said it expects a 50% jump in full-year silver production. Silver production for the period fell 46% to...

Gold Fields reports resource, reserve estimates

South African gold miner Gold Fields has reported a 15% increase in mineral reserves at its South Deep gold mine, near Carletonville. The company stated in its 2011 Mineral Resources and Mineral Reserves guide that the mine design optimisation...

Gold performance improves despite headwinds

Gold ended the first quarter 8.6% higher in London at $1 662.50/oz, the World Gold Council said on Wednesday in its quarterly gold investment commentary. The council described the quarter as being “eventful” and despite increased volatility...