Proactiveinvestors recommends
Additional Information
Market: LME
Sector: General Mining - Gold
EPIC: GOLD
Latest Price: $0.00  (0,00%)
52-week High: $105.71
52-week Low: $39.00
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
GOLD
www.gold.org

Gold is a highly sought-after precious metal which, for many centuries, has been used as money, a store of value and in jewelry. The metal occurs as nuggets or grains in rocks, underground "veins" and in alluvial deposits. Modern industrial uses include dentistry and electronics, where gold has traditionally found use because of its good resistance to oxidative corrosion.

Full GOLD profile here
Pdf

Lonmin and Fresnillo climb, Randgold Resources steady as gold, silver and platinum inch higher

8th Mar 2010, 1:49 pm Lonmin and Fresnillo climb, Randgold Resources steady as gold, silver and platinum inch higher

Gold made further advances this morning, stopping just short of US$1,140/oz after the non-farm payrolls update that came out in the US on Friday turned out to be better than expected, showing just 36,000 jobs lost instead of a projected decline of up to 70,000, while consumer borrowing data showed the first increase in a year today to drive up equity markets and further boost investors’ appetite for riskier assets such as gold.

The bullish economic updates pushed down the US dollar, which is considered a safe haven asset. Gold is seen as an alternative investment and usually moves inversely to the American currency.

Meanwhile, the euro extended gains after rising for most of the previous week as the outlook for Greece’s debt crisis improved after the unveiling of a fresh economic austerity package and a successful bond issue that raised the debt laden country €5 billion to help it meet its near term commitments.

Later in the day the US dollar recovered, pushing gold down as it continued trading within a narrow range around US$1,135/oz.

Other precious metals followed with silver climbing to US$17.48/oz and platinum hitting seven week highs at US$1,605/oz.

Major mining companies were mixed today. Platinum miner Lonmin (LSE: LMI) led the sector in the FTSE 100 with a gain of nearly 1%. Randgold Resources (LSE: RRS) was flat, while silver and gold producer Fresnillo (LSE: FRES) rose marginally.

Specialty chemicals firm Johnson Matthey (LSE: JMAT) made little headway.

Silver producer Hochschild Mining (LSE: HOC) was flat, while fellow FTSE 250 miners Aquarius Platinum (LSE: AQP) and gold producer Petropavlovsk (LSE: POG) lost about 1%.

Kyrgyzstan focused gold explorer and developer Chaarat Gold Holdings (AIM: CGH) was one of the top performers in the sector, rallying 16%. Africa operating gold and platinum miner Goldplat (AIM: GDP) also did well, adding 6%.

Uzbekistan focused gold miner Oxus Gold (AIM: OXS) headed in the opposite direction with a 5% loss.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.