PRECIOUS METALS HIGHLIGHTS : Top Stories of the Day
09/21/2012| 03:10pm US/Eastern
WSJ: Warrant Issued for Politician During South African Strikes
JOHANNESBURG--South African state prosecutors issued an arrest warrant for controversial politician Julius Malema, his lawyer said Friday, following criticism by the ruling African National Congress of his role in stirring up a series of mine strikes.
LBMA: August Gold Ounces Transferred Down 0.9% on Month; Silver Down 15.5%
Gold ounces transferred in August fell 0.9% from the previous month, while silver ounces transferred dropped some 15.5%, the London Bullion Market Association said Friday.
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WSJ: Xstrata Extends Deadline for Glencore Decision
Some of that decline--but likely not all--could be explained by a reweighting of Xstrata in the FTSE100 index Friday, which was expected to cause index funds to sell its stock.
GFMS: Global Gold Producer Hedges Declined in Second Quarter
LONDON--Gold producers were less eager to secure future metal sales at fixed prices in the second quarter, a trend that is likely to continue throughout 2012, according to a keenly watched gold market report, contrary to expectations for an increase in their gold hedges by year-end.
PWC Says Signs Pointing to Slower Global M&A Mining Activity
LONDON--Signs are pointing to a slower second half of the year for global mining mergers and acquisitions activity following a sluggish first half due to falling commodity prices and the uncertain global economic outlook, said consultancy and accountancy firm PWC in a report.
WSJ: South Africa Unrest Spreads in Gold Sector
JOHANNESBURG--Unrest spread in South Africa's gold sector Friday as workers went on an illegal strike at a mine owned by the country's biggest gold producer, fueling worries over lost output and further strain on the country's economy.
DMCC CEO: Strong Growth in Dubai JLT Free Zone to Continue in 2013
Dubai Multi Commodities Centre expects the number of companies operating in the Jumeirah Lakes Towers free zone to continue growing fast in 2013 following a sharp increase in registrations in the first half of 2012, DMCC Chief Executive Malcolm Wall Morris said Friday.
AngloGold: Workers Strike at Ashanti Mine in South Africa
JOHANNESBURG--AngloGold Ashanti Ltd. (AMS.JO) said workers have embarked on an illegal strike at its Kopanang mine, a further instance of unrest that is closing major gold and platinum mines across the country.
Vietnam Central Bank OKs Reprocessing of Gold Bars for Domestic Sales
HANOI--The State Bank of Vietnam has allowed state-owned gold-bar monopoly Saigon Jewelry Co. to reprocess gold bars from other domestic companies and stamp them with its own trademark so they can be offered for sale domestically, the central bank said in a statement Thursday.
Hummingbird Loss Widens, in a Strong Financial Position
LONDON--Hummingbird Resources PLC (>> Hummingbird Resources Ltd), a Liberian gold exploration, Friday posted a widened loss during the year-end, but said it remains in a strong financial position to continue developing its gold resources over the next 12 months.
PRECIOUS METALS: Gold Ends at Six-Month High on Spain Hopes
NEW YORK--Gold futures ended Friday at the highest level in more than six months on a stronger euro and speculation Spain may be setting the stage for a sovereign-debt bailout request.
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