Iran inaugurated on Saturday an iron ore concentrate plant, with the production capacity of two million tons per annum, in the city of Zarand, southeastern Kerman Province, ILNA reported.
Middle East Mining News
The Dubai Chamber of Commerce and Industry and the Southern Gujarat Chamber of Commerce and Industry recently consolidated their bilateral trade ties through an MoU signed during a recently concluded trip to Surat by the Dubai Chamber Trade Mission.
World Gold Council (WGC) said that during the third quarter, demand for gold and jewelry dropped 28 percent in the Middle East to 38.5 tons, reported Arab News. The WGC added that in the period, global gold jewelry market shrank by 10 percent at 465.6...
In what seemed to be a major breakthrough for debt-ridden Greece, it had gained trust from a Qatar-based holdings firm to invest in one of its gold-mining projects. On Saturday, Qatar Holdings LLC signed a $1 billion investment into European Goldfields
A government-run aluminum smelter in the United Arab Emirates plans to spend $4.5 billion to nearly double its potential output of the widely used metal.
Centamin Egypt (CEY.L) (CEE.TO) said it expects full-year production to come in at the lower end of its 250,000-290,000 ounce guidance after output in the first quarter was hit by supply problems. It poured 45,204 ounces in the first quarter and said its Sukari operation remained largely unaffected by Egypt's political unrest.
Many readers might remember that exactly two years ago the S&P 500 tagged the infamous 666 price level before putting on a monster 2 year rally that saw it surge over 100% to the February 2011 highs.
With a falling US dollar, escalating tension in the Mideast, and higher crude oil prices, gold can only go one way.
Asia found the closing New York prices a little rich for their blood and took gold down to $1,427 before London’s opening, but just before London opened the gold price moved back up to $1,430 ahead of the Fix.
Asia kept gold and silver at their New York closing levels taking the prices to $1,414 with the Fix being set at $1,414.50.
Gold production at Centamin's flagship Sukari gold project have continued and company says no restrictions imposed although Egypt on Sunday banned gold exports for next 4 months
In the 1980s unrest in the Middle East and a surge in oil prices, were the triggers which drove gold to record highs. The current Middle East/North Africa (MENA) unrest could see history repeat itself. It is possible to draw parallels between today's
With tensions rising in the Middle East individuals turn to gold as a safe haven asset.
In comparison to the events in the Middle East, talking about markets seems frivolous, but it is what we are here for ultimately.
Gold and silver broke through resistance on Friday at $1,380 and just a business day later sits at $1,397.30 ahead of the London Fix. The dollar is slightly weaker only at $1,3697 leaving gold in the euro at €1,020.
The question hangs in the air, “Are these revolutions or just exuberant demonstrations?” Will they topple regimes and disrupt oil supplies. We will have to wait and see.