Vietnam Business News

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• “You should own silver”, Jim Rogers
• Guyana Goldfields gets mining licence for Aurora
• Price of gold has decreased by Rs 500 per tola
• Global holdings of gold in ETFs hit an all-time high of 69.978 million ounces
• Amplats to give 10% of Zim mine to locals – state radio
• Barclays Sets Medium Term Gold Target at $1840
• Gold prices still have plenty of room to rise
• AngloGold sees capex of $1.5 bln by 2013
• Gold prices are likely to fall more than 3.5 per cent from its peak
• Investment demand to push silver to over $50/oz by late 2012

“You should own silver”, Jim Rogers Posted: 27 Nov 2011 01:14 AM PST Buying Silver is a no brainer as far Jim Rogers is concerned. And why not? Considering that governments are printing money, silver will prove to be a very good bet. In a recent CNBC interview, Rogers says – "Throughout history, when things have gone wrong, they print money…when they print money, you should own silver, you should [...]

Guyana Goldfields gets mining licence for Aurora Posted: 27 Nov 2011 01:00 AM PST Toronto-based Guyana Goldfields has received a mining licence for its Aurora project in the former British colony it gets its name from, the company said on Friday. The firm said it was the first major gold mining licence Guyana has issued since 1991. Construction at Aurora will start in the first quarter of 2012, and [...]

Price of gold has decreased by Rs 500 per tola Posted: 27 Nov 2011 12:34 AM PST Price of gold has decreased by Rs 500 per tola. According to All Pakistan Jewellers and Gems Association, price of 10 gram gold has become Rs 48,428 with cut of Rs 428 while price of one tola has become Rs 56,500. In the world market, price of one ounce gold was recorded by decrease of [...]

Global holdings of gold in ETFs hit an all-time high of 69.978 million ounces Posted: 27 Nov 2011 12:11 AM PST Global holdings of gold in ETFs, one gauge of investment demand, have risen by more than 300,000 ounces this week to hit an all-time high of 69.978 million ounces, following hefty inflows into large U.S. funds such as the SPDR Gold Trust, the world’s largest, and COMEX Gold Trust. UBS said purchases of gold by [...]

Amplats to give 10% of Zim mine to locals – state radio Posted: 26 Nov 2011 11:30 PM PST Anglo American Platinum, the world’s top miner of the precious metal, will hand over a 10 percent stake in its Unki project in Zimbabwe to locals, the first step towards an empowerment law, state radio said on Wednesday. President Robert Mugabe, who is driving the law which seeks to transfer majority ownership of all foreign-owned [...]

Barclays Sets Medium Term Gold Target at $1840 Posted: 26 Nov 2011 11:00 PM PST Analysts at Barclays remain bullish on the price of gold and gold coins. The investment advisory firm issued a report last week saying gold near $1725 per ounce could see renewed buying to push the price of the precious metal well over over $1840 per ounce in the medium term. Gold closed last week at [...]

Gold prices still have plenty of room to rise Posted: 26 Nov 2011 08:12 PM PST Market experts have not exactly been unanimous; nevertheless, the consensus has been that, in the long term, gold will continue its current 11-year bull run, with 2012 seeing prices of $2000 and beyond. The last few months have seen many corrections in the precious metals market but gold has risen some 18% this year alone, [...]

AngloGold sees capex of $1.5 bln by 2013 Posted: 26 Nov 2011 08:00 PM PST AngloGold Ashanti , the world’s third-largest gold producer, said on Tuesday it expects capital expenditure to double to $1.5 billion dollars by 2013. The company said in a presentation on its website that it then saw capex falling back to 2011 levels by 2015 as some of its projects come on stream. Long-term and large [...]

Gold prices are likely to fall more than 3.5 per cent from its peak Posted: 26 Nov 2011 07:56 PM PST Gold prices are likely to fall more than 3.5 per cent from its peak after a 16 per cent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed, a poll of banks and brokerages found. The most-active gold for December delivery on the Multi Commodity Exchange (MCX) struck a peak [...]

Investment demand to push silver to over $50/oz by late 2012 Posted: 26 Nov 2011 07:44 PM PST Silver prices were expected to exceed $50/oz by the end of 2012, Thomson Reuters GFMS reported in its interim silver market review on Thursday. Silver prices so far this year have averaged $35.70, a rise of 88% year-on-year. "We now forecast a full year average price of $35.66 in 2011, and expect further price strength [...]

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