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Mining Engineering Online

Mining Engineering Online

The Price of Gold Rises on Favorable Indicators FinancialBuzz.com News Commentary NEW YORK, April 9, 2021 /PRNewswire/ -- The gold price grew to cross the USD 1,750 an ounce mark on Thursday on several indicators that the yellow metal is once again in demand as a safe haven asset. According to a report by Kitco, after a pause in central bank gold buying last year, there are signs that demand for gold grows as Hungary tripled its gold reserves. Hungary's central bank increased its gold reserves to 94.5 metric tons from 31.5 tons, citing "long-term national and economic policy strategy objectiv...

Gold Prices Regain a Foothold After Multiple Negative Sessions FinancialBuzz.com News Commentary Share this article Share this article NEW YORK, March 10, 2021 /PRNewswire/ -- Gold prices rebounded about 2% on Tuesday, surpassing the key price mark of USD 1,700 and posted their first gain in five sessions. The yellow metal's recovery is attributed to a fall in the dollar value and a pullback in yields for government debt from one-year highs. "Given the metal's zero-yielding nature, falling yields may provide a tailwind for bulls to elevate prices higher," said Lukman Otunuga, Senior Researc...

Gold Fields begins construction of Chile project The Salares Norte gold project is located in the Atacama region of northern Chile. ( South African miner Gold Fields (JSE, NYSE: GFI) has formally begun construction of the mining infrastructure for its Salares Norte project, in northern Chile. The company expects to complete the $860-million project in late 2022, with first gold production in early 2023. Sign Up for the Copper Digest Sign Up About 15% of the construction has already completed, Gold Fields said. That includes a mining camp for 1,800 people, related infrastructure and acce...