Browsing: Gold

Gold reached a historic peak in the spot market on Wednesday, climbing to $2,665.10 per ounce. U.S. gold futures also…

Gold prices hit an all-time high on Wednesday following the U.S. Federal Reserve’s decision to cut interest rates by 50…

Saudi firm Al-Masane Al-Kobra Mining Co. will focus on gold deposit production and operational expansion as part of a growth plan to strengthen its industry position through 2025

The price of gold has surged to historic highs this year, surpassing $2,500 per ounce and catching the attention of global markets.

Spot gold was up 0.7% at $2,463.46 per ounce as of 1105 GMT on Friday, just $20 shy of the record peak of $2,483.60 scaled on July 17

Spot gold was up about 1% to $2,386.99 per ounce by 10:17 a.m. ET (1417 GMT), after hitting its lowest since July 9 on Thursday

The gold mining industry is struggling to maintain production growth as finding deposits of the yellow metal has become more difficult, according to the World Gold Council (WGC), cited by CNBC on Sunday.

Gold prices held firm on Friday and were set for their first weekly gain in three as traders stepped up bets that the Federal Reserve will start cutting rates soon, sending the dollar and Treasury yields lower.

Ghana’s gold production rose 8.3% to 4 million ounces in 2023, data from the Ghana Chamber of Mines showed on Friday.

Gold investing has gained popularity in recent years due to the current economic climate, characterized by persistent inflation that has eroded the value of the US dollar and driven investors to seeking inflation-hedging assets such as commodities.