PRECIOUS METALS HIGHLIGHTS : Top Stories Of The Day
08/16/2012| 09:12am US/Eastern
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TOP STORIES:
WGC: Gold Demand Drops In 2Q, Led By Indian Weakness
LONDON--World gold demand fell 7% in the second quarter as a reduction in demand for gold in the investment, jewelry and technology sectors offset strong buying from central banks, the World Gold Council said Thursday.
World Gold Council: Central Bank Gold Demand Doubles in Second Quarter
Total central bank gold purchases in the second quarter were more than double the level reported just one year earlier, as emerging market governments sought to diversify away from traditional reserve currencies amid heightened economic insecurity, according to World Gold Council data Thursday.
India April-June Gold Imports 131 Tons, Down 56% on Year -World Gold Council
MUMBAI--India's April-June gold imports more than halved to 131 metric tons from 301 tons a year earlier, as higher prices due to a rise in import tax and a weak rupee hit overall demand, the World Gold Council said Thursday.
China 2Q Gold Demand Down 7% on Year -World Gold Council
BEIJING--China's gold demand in the second quarter, measured by jewelry and investment in bars and coins, fell 7% from the same period a year earlier to 144.9 metric tons, the World Gold Council said Thursday.
Barrick Confirms Talks With China National Gold Over ABG Stake
LONDON--Barrick Gold Corp. (>> Barrick Gold Corp.) Thursday confirmed it is in preliminary discussions with China National Gold Group Corp. regarding its 73.9% stake in Tanzania-focused African Barrick Gold PLC (>> African Barrick Gold PLC).
MARKETS:
Spot Gold Drifts; China, Euro Zone Eyed For Stimulus
LONDON--Spot gold is up a touch in Europe Wednesday within a slightly higher precious metal complex, although near-term direction still remains unclear.
South African Minister: Lonmin Conflict Needs Mediation - I-Net
JOHANNESBURG (I-Net Bridge)--South African Labor Minister Mildred Oliphant Thursday urged the parties involved in the conflict at Lonmin PLC's (>> Lonmin Plc) Marikana platinum mine to seek mediation, the South African Press Association reported.
-Write to Jonathan Robins at jonathan.robins@dowjones.com
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