Barrick temporarily stopped the construction of the controversial Pascua-Lama gold mine project due to a court suspension issued last Monday.
Tags: Gold
Gold loses its shine as funds predict 31% drop this year
Dara compiled by Bloomberg indicated that investors are exiting from their gold-backed exchange-traded products this year. $69.5 billion in value was removed in the ETPs and analysts expect an additional 311 tons will be removed from the ETPs next year.
Bets by hedge funds are bullish since 2007 - report
Recent data by the US Commodity Futures Trading Commission indicated that hedge funds are the least bullish about their bets in gold despite strong US economic data.
Is Bitcoin the new gold?
Although Bitcoin and gold are driven by the same demand for alternative currencies, one fared better than the other. Wall Street Journal said investors are rushing to invest in Bitcoin as gold loses its appeal.
Paulson will not increase his gold bet - source
Gold might not have been a great investment, which was evident in a Reuters report about John Paulson not making any additional investments on buillion as his PFR Gold Fund lost 63% this year so far.
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Fund manager John Paulson lost 65% worth of its gold fund this year after the portfolio fell by 23% last June.
Evy Hambro of BlackRock Inc said that a few gold miners would go out of business due to slumping prices and increasing costs.
Global trades on bullion fell as the United States' credit outlook gets boosted by Standard & Poor's.
Analysts and traders saw great fund inflows despite tumbling prices of gold and other commodities. Despite record losses for gold and other precious metals, many hedge funds and speculators continued to pour money into these investments.
Gold prices surge as many investors opt for the metal in light of the Cyprus meltdown. Gold values expected to increase in the next quarter because of the current Cyprus crisis.
Investors of Commodity exchange-traded funds (ETFs) are shifting their interest to funds with broad commodities exposure.
Rio extends budget after impasse with Mongolian government over mining project. The Rio Tinto subsidiary overseeing the Oyu Tolgui gold and copper project, Turquoise Hill Resources Ltd had announced that an extension on construction funding has been provided while discussions are ongoing with the Mongolian government to find a settlement for their dispute.
European Medgold acquired the Grasceta gold exploration licence, located in southern Tuscany Medgold Resources Corp. (TSX-V: MED), the European focused gold exploration company, announced today that it acquired the Grasceta gold exploration licence, located in southern Tuscany, Italy.
