By Frank Tang and Jan Harvey NEW YORK/LONDON (Reuters) – Gold rose on Thursday, rebounding sharply from a nine-month low touched earlier in the session, as a sharp sell-off in U.S. equities prompted investors to buy bullion as a safe haven. Analysts said gold prices still look vulnerable, however, because of a strong dollar and … Read more
By A. Ananthalakshmi SINGAPORE (Reuters) – Silver’s sell-off extended to a second session on Monday, with the metal tumbling to a four-year low, as investors unwound long positions amid strength in the dollar and the possibility of a sooner-than-expected U.S. rate hike. Weakness in gold, which fell to its lowest since January and was edging … Read more
The JSE is trading negative in morning trade, with the all-share index giving back 0.8%. Industrials are trading 1.2% lower, resources are down by 0.15% and banks are trading 0.38% higher. In company news; Pan African Resources released full-year results for the year ended 30 June 2014. Key features included; the group’s gold sold increased by … Read more
South Africa-focused bullion producer Sibanye Gold plans to cut up to 2,500 workers at its recently acquired Cooke 4 mine west of Johannesburg, two industry sources told Reuters on Thursday.
JOHANNESBURG (Reuters) – South Africa’s net gold and foreign exchange reserves dipped to $44.24 billion in August, from $44.315 billion in July, data from the Reserve Bank showed on Friday. Gross reserves were also lower at $49.767 billion, while the forward position, which represents the central bank’s unsettled or swap transactions, fell to $2.938 billion.
One of my favourite soundbites from my eight Berkshire Hathaway AGMs was chairman Warren Buffett’s response to a question about gold. “Well,” Buffett said, ” if you took all the gold ever mined you could put it into a cube of 67 foot by 67 foot. If you owned it all, you could sit on … Read more
By A. Ananthalakshmi SINGAPORE (Reuters) – Gold climbed to a three-week high on Friday after U.S. President Barack Obama authorised air strikes in Iraq, and the metal looked set to post its best week in seven as global geopolitical tensions spurred safe-haven demand. Bullion also got a boost from a drop in Asian share prices on growing fears … Read more
By A. Ananthalakshmi SINGAPORE (Reuters) – Gold was little changed just above $1,300 an ounce on Tuesday, supported by geopolitical tensions in the Middle East and Ukraine, with investors also focusing on U.S. jobs data and a Federal Reserve policy meeting this week. The Fed kicks off its two-day meeting later on Tuesday, with markets watching for clues … Read more
By A. Ananthalakshmi SINGAPORE (Reuters) – Gold dipped on Friday on profit-taking after a sharp overnight jump, but the metal is being supported by a wave of risk aversion after a Malaysian airliner was downed in eastern Ukraine, killing nearly 300 people. Gold, seen as an alternative investment during times of geopolitical uncertainty, rose about 1.5 … Read more
By A. Ananthalakshmi SINGAPORE (Reuters) – Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike U.S. interest rates sooner than expected. Fed Chair Janet Yellen said on Tuesday the U.S. central bank could raise rates earlier or … Read more