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Over the last couple of sessions we have seen gold (XAU) slowly grind higher against the Australian dollar (AUD). However, we have seen a bit of resistance at the A$1,677 level, and the last two weeks have seen this pairing basically stall. Once gold has broken above A$1,677, the recent high around A$1,757 will likely come into play. The ...
Gold continues to battle away at the $1,780/oz mark; over the last few days any pushes into the $1,780-1,800 band of have been rebuffed by selling. Early Monday afternoon (GMT) it looked as though bulls were in the ascendency, with gold reaching as high as $1,790. However, what we can assume to be heavy shorting of futures at the Comex ...
Another Monday, and the start of another quarter. We are also heading into the Indian festival season, which is often a period of strength for precious metals prices. Over the last decade, the gold price has on average performed best during Q4. Right now though, the metal is struggling to clear resistance at $1,780. Though some of ...
According to a report published by the consulting firm Surbiton Associates, Australian gold production continued to drop in Q1 – for the third quarter in a row. During Q1 Australian gold producers extracted a total of 62 tonnes of the yellow metal. This is 5% less than the previous quarter and 4% less than the same period last year. ...
Wayne Swan, Australia's Deputy Prime Minister and Treasurer, has expressed his contentment after the ratification of a new mining tax which has been debated in Parliament for close to two years. The government hopes that this 30% tax on coal and iron ore production will boost its revenues by approximately A$11 billion. The companies ...
Once again investors at the commodity and precious metals markets are focusing on production in South Africa. According to Statistics South Africa (Stats SA) in January, gold production dropped 11.3% in comparison with the previous year. During the 1970s, South Africa regularly produced over 1,000 tonnes a year, but this year production ...
Recent data from the consulting firm Surbiton Associates in regard to Australian gold production for the year 2011 have failed to meet market expectations for average production. Last year Australia defended its position as second largest gold producing country after China, but in comparison with 2010 Australian gold production dropped by ...
In the third quarter, Australian mines produced a total of 66 tonnes of gold – 2.4% less than in the previous quarter. Nevertheless, Australia has retained its position as second largest gold producing country (after China). During the first eight months of this year, China produced a total of 226.4 tonnes of gold. After China and ...
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