The main developments in Europe which may affect the gold market – except the turmoil in the still fragile banking sector – are a run-off in France and Brexit. Let’s analyze them and their potential impact on the gold prices.
Britain Mining News
The court said it cannot interfere in the diplomatic process nor can it direct another country to not auction the gem.
Coal consumption had been cut by 73% since 2006, Dong Energy said, and its power stations would replace the fossil fuel with sustainable biomass.
Coal generation in Europe is falling and will continue to do so due to competition from cleaner energy sources and governments efforts to cut emissions, a study by The Economist Intelligence Unit (EIU) shows.
Expert says coal-fired generation may remain a key part of Britain's energy supply for longer than planned.
Transactions on the Mint’s bullion website increased by 25% during the first week of August and there was a 50% weekly jump in sales of gold bars and coins after August 4.
Brexit is a sideshow to the world economy, and gold remains an important asset in any portfolio, says Marc Faber, editor of the Gloom, Doom and Boom Report.
Brien Lundin: Brexit underlines currency debasement as the real driver behind gold price appreciation
The Brexit vote to leave the E.U. is bullish for gold as it creates uncertainty but the real driver for the long term gold price is currency devaluation, which is happening now globally at an unprecedented rate as most countries attempt to lessen the value of their debt.
The consequences will likely include a soaring dollar and a falling euro, market volatility and a slide in the prices of some commodities, but Maund has identified ways investors can profit from the chaos.
Elevated demand has translated into a 150% increase in revenue for Britain's official producer of gold and silver coins and bars.
The gem has been at the centre of a diplomatic row between India and the UK, with New Delhi arguing for decades that it should get it back.
The EIA says China and India are to blame, as imports from both nations — which from 2008 to 2013 accounted for 98% of the increase in world coal trade —are on their way down.
Use of coal for power generation peaked about two years ago, a new report suggests.
Britain’s only potash mine is cutting hundreds of jobs and switching away from potash production in a further blow to industry in north-east England.
The closure of Kellingley Colliery, Britain’s last deep coal mine, marks the end of a 300-year industry that once employed over a million workers.
It marks the end of a three-century industry that once employed over a million workers in the U.K.
Special protection will be given to national parks, areas of outstanding natural beauty and world heritage sites, says the government.
Drakelands mine seen creating 200 jobs.
UK's decision paves the way for China to take a stake in or own 100% of the country's new nuclear power stations.
Britain’s coal producers have tabled a five-point plan that they say “will give the nation’s electricity users cheaper, reliable and sustainable power supplies whilst safeguarding jobs, stimulating investment and reducing energy imports.”
"You get filthy and my nails have never been any good but I absolutely love being a miner." Stuart Foweather started at Cadeby Colliery in Doncaster in 1978 as a 16-year-old apprentice.
British rescue workers pumped water today from a flooded coal mine in south Wales in an attempt to reach four trapped miners.
A proposed merger between the parent companies of the Toronto and London stock exchanges will benefit junior mining companies and small and medium enterprises (SMEs), say two leading executives behind the deal. “We anticipate the merger will benefit public companies of all sizes, but in my opinion SMEs will benefit the most,” said John McCoach, president of the TSX Venture Exchange, speaking at a recent luncheon in Vancouver hosted by the BC Association of Mineral Exploration (AMEBC). “Investors will benefit from the increase in liquidity, lower transaction costs, and access to new investment products.”
Old gold-mining shafts are being reopened around the world, as economic uncertainty and scepticism about other assets has sent the gold price soaring: the yellow metal hit a record high of over $1,400 an ounce […]