The volume of gold sold forward by mining companies jumped 61% in the second quarter after Russia's Polyus Gold added a major new hedge position, an industry report showed on Wednesday.
Randgold Resources chief executive Mark Bristow argues that the looming undersupply of gold will create opportunities for mineral-rich African countries but they will have to compete aggressively for shrinking exploration dollars.
The all-powerful U.S. dollar is currently hammering base metals and base metal equities. Haywood Securities Mining Analyst Stefan Ioannou says that increasing demand and near-term supply shortages make base metals a bargain that won't last.