Fresnillo profits plunge as gold prices struggle March 4, 2015 MEXICAN mining firm Fresnillo saw shares dip by 8.46 per cent yesterday, after reporting that pre-tax profits dropped by 40 per cent during 2014, plummeting from $419m (£275m) to $251m. The company also saw a 12.5 per cent decline in revenue for 2014, from $1.6bn in 2013 to $1.4bn. The group said that its “low [...]
HSBC, Goldman Sachs and Barclays are among the banks being investigated for gold price rigging February 24, 2015 The US is looking into whether the world's biggest banks have rigged the prices of precious metals such as gold, silver and platinum. The Department of Justice (DoJ) and Commodities and Futures Trading Commission (CFTC) have launched the investigation following of a series of scandals in which banks altered benchmark rates to make [...]
Gold loses its shine as appetites for bullion wane after last year’s binge November 13, 2014 Global gold demand continued to dip in the last quarter, as appetites waned after last year's binge. Despite crumbling prices, investors haven't been tempted into the bullion market in recent months. During the three months to the end of September, global demand fell by two per cent from a year earlier to 929.3 tons according [...]
Why the price of gold is down to a year low? Falling US unemployment boosts investor confidence October 6, 2014 Gold's appeal has been tarnished by stronger-than-expected employment data for the US. The commodity, which is viewed by investors as a safe haven at times of economic instability, fell in value by 0.7 per cent to $1,183 per ounce during Asian trading this morning – its lowest price since June last year. On [...]
Bullion for you: Royal Mint sells gold coins online September 21, 2014 The Royal Mint is hoping to lure retail investors looking to buy into gold or silver with a trading website that it hopes will tap into demand for the precious metals. People will be able to buy both 24-carat gold and silver bullion coins from royalmintbullion.com at any time of the day and at prices [...]
Price of gold falls on stronger dollar as palladium slips from 13-year high September 2, 2014 The price of commodities, including gold, silver and palladium, fell yesterday, as a strengthening US dollar hit investor demand for the precious metals that had heightened on the escalation in the conflict between Russia and Ukraine. As the dollar strengthened on better manufacturing data and the prospect of an end to stimulus, gold slipped to [...]
Here’s what you need to know about today’s gold price surge April 14, 2014 Demand for the lustrous metal has seen gold prices hit a three week high, with geopolitical risks seeing investors move towards the safe-haven asset. Seen as a hedge against inflation, other metals have also spiked as tensions over Ukraine heat up. Palladium today sees an August 2011 high, as traders worry that US sanctions on [...]
Petropavlovsk’s production on track but low gold price weighs January 23, 2014 THE CHAIRMAN of Petropavlovsk yesterday warned that there might be more job cuts and that management bonuses would be cancelled once again, as the Russia-focused gold miner prepares for another challenging year. Peter Hambro, who founded the FTSE 250-quoted company, told City A.M. that “life is not easy for any of the miners” and that [...]
US budgetary stalemate could have a negative impact on the price of gold November 6, 2012 AS A historically close US election comes to an end, the outcome may still be uncertain. But more certain is the less ambiguous outcome of a potential Mitt Romney victory – a negative impact on gold and other metals, due to his intention not to re-appoint Federal Reserve chairman Ben Bernanke when his term expires [...]
Gold rush leads to safe haven buying October 26, 2005 Often clients say that they are staying out of the market and waiting for the right moment to get in. Usually, this is precisely the right time to trade and diversify into other products. Just look at the currencies and the commodities, markets that would not usually attract your average financial spread trader, but they [...]