These ETFs Bet Against Silver, Miners

Exchange traded funds (ETFs) that bet against silver have been steamrolled by the rally in “poor man’s gold.” However, they rose sharply on Tuesday as silver appears to have failed its first attempt to break through $50 an ounce, a level last seen more than three decades ago. ProShares UltraShort Silver (NYSEArca:ZSL) was the top [...]

The dollar price of gold not a good indicator of where it really stands

The U.S. investor in particular generally looks at the gold price in U.S. dollars, but in reality should be looking at the price in Euros as the recent apparent price appreciation has been mostly due to dollar decline.

Ashanti in talks over Tanzanian tax refunds

AngloGold Ashanti, African Barrick Gold and other miners of the precious metal are in “advanced” talks with Tanzania’s government about a $273.9m (R1.85bn) tax refund, the Chamber of Minerals and Energy said. Tanzanian tax policy for the mining industry provides for a refund of duties on fuel used to generate electricity to power gold mines, [...]

Equinox recommends Barrick takeover bid

SYDNEY, April 27, 2011 (AFP) – – Australian copper miner Equinox Minerals on Wednesday recommended shareholders accept a $Can7.3 billion (Aus$7.1 billion) takeover bid by the world’s largest gold producer Barrick Gold. Canada-based Barrick jumped into the fray by trumping a Aus$6.3 billion bid from Chinese state-owned firm Minmetals Resources. “The board of directors of [...]

Silver rebounds from sharp falls, gold inches upwards

Silver rebounded on Wednesday from sharp falls in the previous session and gold inched upwards as investors cautiously awaited the conclusion of the U.S. Federal Reserve’s policy meeting while feeble sentiment in the dollar lent support. The Fed will probably show no hurry to scale back its massive support for the economic recovery, but investors [...]

Barrick Gold to take over Equinox Minerals

EQUINOX Minerals, the owner of Lumwana Mine in Solwezi, has agreed to a takeover bid worth about US$ 7.7 billion cash by Canadian gold giant Barrick Gold. According to a press release, Equinox Board said it had agreed to a take over from Barrick which also saw out another bid by Chinese mining firm Minmetals [...]

Silver hits 31-year high as dollar weakens

Silver prices rose to their highest since early 1980 in Europe on Monday, tracking gains in gold as weakness in the dollar and higher oil prices supported interest in precious metals.Well-received US payrolls figures released on Friday also boosted appetite for industrial commodities, analysts said.Spot silver was bid at a high of USD 38.23 an [...]

Silver hits 31-year top, iShares Silver at record

Silver jumped to its highest since early 1980 on Tuesday on inflation concerns, a rise in ETF holdings to another record and growing industrial demand, while gold hardly moved as the euro held below this week’s five-month high versus the dollar.In addition to rising investment demand for silver as a cheaper alternative to gold, an [...]

Gold dips on China move; debt, Mideast woes underpin

Gold prices eased on Tuesday after China raised interest rates for a second time this year, though euro zone debt concerns and elevated oil prices linked to violence in the Middle East limited losses in the metal.Silver also retreated after reaching a 31-year high of USD 38.77 in earlier trade, but traders remain largely on [...]

India gold up but wedding season stokes demand

Indian gold edged up on Wednesday evening tailing firm overseas markets, but a stronger rupee capped the upside, analysts and traders said.Demand in physical markets was steady, supported by the ongoing wedding season, they said.The most-active gold for June delivery on the Multi Commodity Exchange was trading 0.3% higher at Rs 21,225 per 10 grams [...]

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