• Fri
  • Nov 21, 2014
  • Updated: 10:26am

Precious Metals

Paulson’s gold fund plunges 65 percent through June

Hedge fund manager John Paulson’s gold fund has lost 65 per cent of its worth so far this year after the portfolio declined 23 per cent last month, two people familiar with the fund said.

Tuesday, 9 July, 2013, 12:20pm 1 comment

Price-cost pinch dulls last lustre of South Africa’s gold

A hand drill lying in the hillside tunnel of a 19th-century South African gold mine testifies to the back-breaking labour by black miners that built what was once the world’s biggest bullion industry.

But even with basic tools and cheap labour, costs overran returns at the Kromdraai gold mine north of Johannesburg, which listed in London in 1893 and closed in 1914.

8 Jul 2013 - 2:12pm

Gold climbs for 2nd day on safe-haven buying

Gold edged higher for a second session on Thursday as worries over Europe and Egypt prompted safe-haven buying, but the mood remained cautious ahead of US jobs data that could determine the outlook for the Federal Reserve’s stimulus measures.

4 Jul 2013 - 12:29pm

Barrick to lay off 30 percent of its office staff

Barrick Gold Corp will lay off about 30 per cent of corporate staff at its headquarters in Toronto and in other offices in a downsizing plan triggered by problems at major mines and a drop in the price of gold.

25 Jun 2013 - 12:45pm

CME raises margins for gold as prices drop

The CME Group, parent of the Chicago Board of Trade, raised initial margins for Comex gold after prices plunged to their lowest in three years on Thursday.

Gold prices plunged over 5 per cent to the lowest in three years on Thursday, leading a global market rout one day after the US Federal Reserve gave its most explicit signal yet that it plans to wind down the era of easy money.

21 Jun 2013 - 11:48am

Gold price seen as still high despite big fall

While falling gold prices have sent a flood of Chinese housewives to Causeway Bay jewellery shops to hunt for bargains, Singapore's top investment official has warned that the precious metal still looks overpriced.

22 May 2013 - 4:36am 2 comments

Plunge in gold price puts a bad idea out of its misery

It looks as if the 20 per cent fall in the price of gold over the past six months has put the Hong Kong Mercantile Exchange out of its misery.

20 May 2013 - 4:18am 1 comment

Gold falls as Soros and BlackRock cut investments

Gold dropped to the lowest in almost a month as filings showed that George Soros and BlackRock cut holdings of bullion-backed exchange-traded products, adding to signs that investment demand is waning as US equities rally to records.

17 May 2013 - 4:06am

Chinese mothers beat Wall Street to force gold price rebound

Taking advantage of the steepest drop in three decades, Chinese mothers have shored up prices by splashing out on gold for their daughters' weddings in the past couple of weeks, foiling the plan of finance gurus who have been short selling the precious metal in the hope of pushing it lower.

3 May 2013 - 8:48am 4 comments

Gold drops after fund holdings fall

The price of gold fell more than 2 per cent yesterday, set for its biggest daily drop since the metal's historic decline in mid-April, hit by a commodities sell-off and uncertainty ahead of a policy statement by the US Federal Reserve.

2 May 2013 - 3:47am

Gold rush sparks run on American Eagle coin

The US Mint ran out of its smallest American Eagle gold coin after demand surged following the biggest drop in futures in three decades.

25 Apr 2013 - 6:16am

Supporters of the gold standard are usually set in their ways

News flash: recent declines in the price of gold, which is off about 17 per cent from its peak, show that this price can go down as well as up. You may consider this an obvious point, but it has come as a rude shock to many small gold investors who imagined it was the safest of all assets.

14 Apr 2013 - 2:15am 2 comments

Silver expected to outshine gold

Silver is expected to appreciate more than gold this year but traders warn investors may risk getting burned because of the high volatility in the thinly traded metal.

11 Jan 2013 - 3:56am

The Week Explained: Lessons learned from 2012

It has been a turbulent year for investors, but there are lessons to be gleaned from it. Here's a sample of what 2012 has taught us.

31 Dec 2012 - 4:58am

Bank of Korea raises gold holdings as central banks boost buying

The Bank of Korea increased gold reserves 20 per cent last month to diversify investments, boosting holdings for the fourth time since June 2011 and underscoring increased demand for the metal by central banks.

5 Dec 2012 - 1:52pm