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A few months ago the Venezuelan president Hugo Chavez announced that he intented to repatriate the country's gold reserves from abroad. Last Friday the first gold bars arrived at Caracas airport. Chavez dramatised the transportation of the gold bars by having his political supporters cheer the motorcade on its journey from Maiqueta ...
Protests against Peru’s Conga mining project are gaining momentum. Now politicians in the Cajamarca region are demanding that the mining giant Newmont Mining and its partner Buenaventura give up their stake in the $4.8 billion project. Talks with the Peruvian government have failed to resolve the dispute. Back in October, ongoing ...
Despite the rally in precious metal prices, the shares of mining companies have been underperforming relative to metal prices. Experts point out that many mining companies are facing difficulties – especially those operating in emerging countries. Miner strikes in South America's and Africa's most important mining countries, as well ...
Precious metal prices rose yesterday on news of more quantitative easing (QE) by central banks in Europe. The most actively traded Comex gold contract, for December delivery, rose $11.60 (0.7%), settling at $1,653.20 per troy ounce. Platinum for January delivery was up 1.7% to $1,508.10 per ounce, while palladium for December delivery ...
Panic selling from hedge funds in response to the European debt crisis forced the gold price to a three-week low yesterday, as well as pushing the silver price back below $40. The Comex September gold contract lost $35.70 (2%) to settle at $1,776.40 per troy ounce. Unsurprisingly, gold’s losses were magnified in the silver market, ...
Markets were abuzz last week with Chavez’s recall of Venezuela’s gold reserves not currently held in Caracas. Bulls are excited by the thought that withdrawing some 150-200 tonnes from the Bank of England and the bullion banks will force a bear squeeze on the LBMA, where gearing between the physical and paper markets are ...
Several factors have contributed to the strong price rally in the precious metals sector in the last few weeks. These primarily include the ever-worsening debt problems in Europe and America, growing concerns over a double-dip recession in the United States and fears of inflation in many Asian countries – above all in China. While ...
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Gold:Gold Buy Rates |
$44.1574/gg $1,373.40/oz |
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Silver:Silver Buy Rates |
$0.6983/gg $21.72/oz |
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Platinum:Platinum Buy Rates |
$45.7184/pg $1,422.00/oz |
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Palladium:Palladium Buy Rates |
$22.3930/pd $696.50/oz |
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