Saudi gold production reaches record levels

Saudi Arabia’s total production of gold increased 158 per cent to 12,353 kilogrammes in 2019 compared to the 4,789 kilogrammes recorded in 2014, a new report revealed. According to the publication, the kingdom has also increased its total production of silver, reaching 5,588 kilogrammes in

Buyers trickle into India’s gold shops as dealers want sales rise

Customers began trickling into jewellery stores in India last week as domestic gold prices slipped, with dealers hoping for a further rebound in demand going into a busy festival season.Indians celebrate the festivals of Dussehra in late October and Diwali and Dhanteras in November, when buying go

Gold falls on uptick in equities; Trump-Biden debate eyed

Gold fell on Monday as positive economic data from China provided a fillip to risk-sentiment, denting the appeal of the safe-haven metal ahead of the first presidential election debate between US President Donald Trump and Democratic rival Joe Biden. Spot gold fell 0.3% to $1,853.85 per ounce by

Two gold nuggets worth $350,000 found in Australia

Two gold nuggets worth around A$350,000 (£190,000; US$250,000) have been discovered by a pair of diggers in southern Australia. Brent Shannon and Ethan West found the stones near goldmining town Tarnagulla in Victoria state. Their lucky find was shown on TV show Aussie Gold Hunte

Bling no longer king in India as gold loses its shine

MUMBAI: Jewelers in the traditionally lucrative Indian gold market are struggling — even while the metal’s value skyrockets — as coronavirus fears keep sales down, craftsmen at home and shops shuttered. Months after India lifted its strict lockdown, the country’s bigg

Gold price up as bulls remain very strong

  Gold and silver prices are higher in early U.S. trading Monday. Both metals hit new for-the-move highs last Friday. Gold notched a record high of $2,078.00, basis October Comex futures, while silver hit a more-than-seven-year high of $29.915, basis September Comex futures. S

Gold accelerates higher on fragile economic recovery hopes

Gold extended its record-breaking run on Thursday, driven by expectations of more monetary response as surging virus cases continue to pummel the U.S. economy.  FILE PHOTO: Gold bars are displayed at South Africa's Rand Refinery in Germiston in May 30, 2006. REUTERS/Siphiwe Sibeko/File P

Gold price rockets past $2,000 per ounce and it could keep going

Powered by a dominant tech sector, stocks keep rising. But if gold prices are any indication, traders are still hedging their bets against an uncertain economic future. What's happening: Gold has rallied past $2,000 per ounce for the first time ever, with spot prices jumping as high as $2,041 per

Decreasing purchasing power pushes Turks toward ‘Syrian gold’

The escalating price of gold in Turkey, in tandem with the global market and the decrease of purchasing power, has led to an influx of lower quality products from Syria.One, an imitation known as “Syrian gold” due to its popularity with Syrian jewelers, has gone mainstream, having emanat

Gold prices hit record highs, jump ₹2,500 per 10 gram in 5 days

Gold prices hit new highs this week, closing with strong gains. On MCX, October gold futures settled 1.2% higher at ₹53425 per 10 gram on Friday. During the session, gold hit a new high of ₹53,700. And during the week it rose about ₹2,500 per 10 gram or about 4.6%. Silver futures also finished the w

Gold price hits record high on new fears for the economy

London: Gold prices have soared to a record high, with investors rushing to find safe places to park their money as concerns grow about a resurgence in the coronavirus and the impact that could have on the global economy. Gold hit $1,944 per ounce earlier on Monday, beating its previous record of

China's June U.S. copper concentrate imports hit highest since Sept 2018

  China’s imports of copper concentrate from the United States hit their highest in June since September 2018, customs data showed on Sunday, as smelters made the most of a trade detente to purchase tariff-free metal earlier this year.China, the world’s top copper consumer, import

Egypt strikes gold in Eastern Desert

Egypt has discovered a gold deposit estimated at more than one million ounces in the country’s southeast, the petroleum ministry said Tuesday.“The discovery is worth over $1 billion in investments over the next 10 years,” the ministry said in a statement.The deposit was found in th

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