Long-term trend bullish on gold AngloGold intends to expand the size of Australia - News - Finance Knowledge

August 5, 2013 – 00:00

Lean News 2013-08-05 20:19:59 News reporter Huang article

Bloomberg reported on August 5, the world's third largest gold miner production AngloGold Ashanti company (AngloGold Ashanti Limited) Australia Graham Ehm, executive vice president, said the company will expand the scale of operation in Australia, and that the future price of gold The rally will be sufficient to offset the negative impact of rising energy costs.

Ehm said gold is currently priced at about $ 1, 300 an ounce, while the company's operating plan for next year will be slightly lower than the current price-based and that the long-term gold price is still above normal, mainly because China and India, demand is still will grow, while the supply of gold and no way to increase rapidly.

AngloGold Tropicana new mine in Australia is expected to put into operation in the third quarter, the mine can produce up to 490, 000 ounces of gold, cash production costs range between $ 590-630 per ounce, lower than the company's first quarter average cash production Cost $ 894 per ounce. AngloGold said last month that this year will produce up to 4.1 million ounces of gold, the company had pre-production target of 410-440 million ounces.

Texas global market research and consulting firm Lucintel report said that in the end markets, including jewelry, electronics, automotive, and investment sector demand growth, driven by the size of the global precious metals industry to 2017 will reach 2, 150 billion U.S. dollars, a compound annual growth rate of 7.5%. On the other hand, fewer mineral resources as well as government departments such as the regulation of mining, precious metals industry is facing the biggest challenge.

Financial Times (Financial Times) 4 reported on, although no large-scale industry action, but according to several senior precious metals banker saying, small and medium sized companies have started gold rush in recent months to carry out works of empty futures hedge. Barclays metal & mining sales director Martyn Whitehead said in the last 3-6 months since the world's estimated 1.5 to 2 million ounces (1 tonne about 35, 000 ounces) of gold has implemented hedging action.

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Source: www.moneydj.com

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Get ready for another gold run Monday

2010-05-15 18:03:27 by Never-Enough

Gold shops in Europe out of stock due to panic buying
It is increasingly difficult to get physical gold or silver in Germany, where the biggest buying stampede ever registered is taking place. Especially smaller online shops for precious metals didn´t have enough stock to cope with the demand, but even the biggest retailers warn of long waiting times and shortages.
Pro Aurum, one of the leading online shops for bullion in Germany, is displaying a "shop closed" message since Thursday. The leading German bullion website "Goldseiten.de" announced an enormous surge in visitors, which their four web servers couldn´t handle at the peaks

Central Bankers continue to load up on gold

2011-01-21 05:21:08 by Shark55

Russia’s central bank will raise the share of gold in its international reserves, the world’s third largest, from about 8 percent, First Deputy Central Bank Chairman Alexei Ulyukayev said.
"We’ve increased our investment in gold during the last several years and we will continue to move in the same direction in the future," he said in an interview in London. "Gold is a natural part of reserves."
Russia, which aims to diversify its reserves, started adding the Canadian dollar and plans to invest in the Australian dollar. The central bank has almost doubled the share of gold in the past three or four years, according to Ulyukayev

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  • Avatar jensen.fan Can precious metal clay be applied to other metals such as iron?
    Jul 22, 2009 by jensen.fan | Posted in Hobbies & Crafts

    I want to add pmc gold or silver (probably silver) to an iron medallion a blacksmith friend created for me but I m concerned that the pmc won t bond to the iron when I fire it and the silver will just fall off.

    • Without specific experience with PMC, I think you are going to have to paint the iron with flux to deal with the oxides. The silver is soft enough that the difference in coefficients of expansion may be irrelevant. Before doing it with your medallion, I think a test on a piece of scrap iron from the blacksmith would be in order.

  • Avatar Jensenfan What's an affordable way to fire Precious Metal Clay?
    Apr 17, 2007 by Jensenfan | Posted in Other - Visual Arts

    I can t afford a full size kiln. The company that sells the clay also sells a very small kiln that can fire pieces the size of a fifty cent piece, but I want to make things that are larger. I thought about renting space at a pottery shop or the community college, but the company website recommends against pottery kilns because of temp flucuations cause by air movement. And I m not comfortable with torch firing. Does anyone else have any ideas?

    • Back when I did lost wax casting one method that people used for firing the investment and vaporizing the wax to cast melted silver and gold was to make a kiln out of a plain, unglazed terra cotta firepot which was turned upside down on top of an electric hot plate. I ve seen this done but never built one myself, and it worked great. You can also nest two or three pots together to make the kiln stronger and retain heat better. Another technique …