Gold miners’ fourth-quarter costs up 9% – report

The average cost of mining an ounce of gold rose by 9% in the fourth quarter of 2009 to $516/oz, compared with the previous quarter, a report by Fortis Bank, VM Group and Haliburton Mineral Services stated on Wednesday. However, the fourth...

Gold substitution an unlikely threat to platinum's autocat crown

Emerging technology suggests that gold could be used in the catalysts of some diesel passenger vehicles in the next couple of years, as a cheaper substitution for platinum, reports VM Group analyst Matthew Turner. However, although the more...

IMF may start gold sales in Q1 – VM

Unless another central bank steps in to buy what remains of the gold earmarked for sale by the International Monetary Fund (IMF), the fund will likely begin on-market gold sales in the first quarter of 2010, suggests VM Group analyst Matthew...

Gains, falls for gold probably mean bigger ones for silver – VM Group

Whether the gold price eases or moves higher, silver will likely do the same, but to a greater degree, analysts at VM Group said in a report on Wednesday. “Silver is singing to gold that old refrain: 'anything you can do, I can do better',”...

Barrick will raise $3bn in share sale, eliminate gold hedges

In a move to gain full exposure to a burgeoning gold price, the biggest miner of the precious metal, Barrick Gold, announced on Tuesday it will raise a whopping $3-billion in a bought-deal public offering of shares. The company will use...

Global gold dehedging beat expectations in Q2 - report

Global gold hedging fell by a larger than expected 1,2-million ounces in the second quarter of this year, after a slow start to the year in the first three months, consultancy VM Group said on Tuesday. The global hedge book declined to...

Daily podcast – May 5, 2009

In today's podcast: Sekunjalo Investments, along with high net-worth Middle Eastern families, bid 150-million-dollars for the provisionally liquidated Pamodzi Gold; and Teck Resources intends to launch an offering of senior secured notes, and will...

VM Group predicts silver surplus will narrow in '09

Increased demand from silver exchange traded funds and falling mine production of the metal will likely result in a narrowed supply surplus in the silver market this year, metals consultancy VM Group predicts in the latest edition of its Silver...

Solar energy will become 'robust' driver of silver demand

Silver demand for use in the manufacture of photovoltaic (PV) or solar cells could increase to as much as 1 270 t/y by 2012, Virtual Metals estimates in its latest Silver Book, published in collaboration with Fortis Bank. Silver is used as the...

Gold dehedging accelerates faster than expected – GFMS

Global gold dehedging accelerated faster than what people expected in the first quarter of 2008, with producers lopping off 128 t, or 22,6-million ounces, of their forward contracts in the three-month period, a report said on Thursday. However,...

Gold hedging down 18% in first quarter of ‘08

Global gold hedging declined by a record 18%, or 4,8-million ounces in the first quarter of 2008, to a delta-adjusted 22-million ounces, compared with 26,8-million ounces in the previous quarter, commodities research consultancy VM Group...

VM Group expects platinum deficit will narrow in '08

Metals consultancy the VM Group expects the deficit in the global platinum market to shrink this year, to 360 800 oz, from a shortfall of 412 400 oz, the firm said on Tuesday. In the latest edition of its bi-annual industry report sponsored by...