Articles by simon yao

  • Russian Gold/fx Reserves Fall to $511.4 BlnRussian Gold/fx Reserves Fall to $511.4 Bln

    July 12 2012 11:53 AM

    Russia's gold and foreign exchange reserves fell to $511.4 billion in the week to July 6 from $512.9 billion a week earlier, central bank data showed on Thursday.

  • South African Gold Output Falls 2.9 pct y/y In MaySouth African Gold Output Falls 2.9 pct y/y In May

    July 12 2012 11:49 AM

    South Africa's gold output fell by 2.9 percent in volume terms in May while total mineral production rose 1.3 percent compared with the same month last year, data showed on Thursday.

  • Gold Falls 1 Percent After Fed Gives No Hint of StimulusGold Falls 1 Percent After Fed Gives No Hint of Stimulus

    July 12 2012 11:42 AM

    Gold fell 1 percent on Thursday after the minutes of the Federal Reserve's most recent meeting gave no indication that U.S. policymakers were gearing up for additional action to stimulate growth, lessening the chances of a boost for the bullion price.

  • Gold Rebounds With Oil, Crops; Still Near One-year LowGold Rebounds With Oil, Crops; Still Near One-year Low

    July 11 2012 1:06 PM

    Gold rose on Wednesday, rebounding from the previous day's 1.4 percent drop with lift from rising grains and energy prices, but the precious metal remained near its one-year low, and analysts said more losses could be in store.

  • Expecting a Different Result

    July 10 2012 1:46 PM

    Many say the definition of insanity is doing the same thing and expecting a different result. Yet this seems to be the standard set of marching orders for the global financial system.

  • As Our Monetary System Has Become So Corrupt, it is Important to Hold Physical Gold

    July 10 2012 10:03 AM

    Our modern day monetary system has been pervaded by greedy, power seeking liar?s, thieves and cheats. A week does not go by without a new story about another bank fraud or some illegal activity perpetrated by a supposedly ?reputable? financial institution. And it seems that the more reputable the institution, the bigger the fraud. The latest LIBOR scandal is just another example of our corrupt monetary system.

  • Spanish deal lifts shares, euro steady

    July 10 2012 9:20 AM

    World shares inched up on Tuesday after euro zone finance ministers made limited progress on measures to help embattled Spain, but evidence of a sharp slowdown in China sent oil and industrial commodities lower.

  • Norway intervenes to avert oil industry closure

    July 10 2012 9:19 AM

    Norway's government ordered on Monday a last-minute settlement in a dispute between striking oil workers and employers in a move to alleviate market fears over a full closure of its oil industry and a steep cut in Europe's supplies.

  • Banks aid European shares rally on ESM talk

    July 10 2012 9:18 AM

    Riskier banking assets rose as European shares were squeezed higher on Tuesday on speculation that Germany's constitutional court would give its blessing to Europe's new bailout fund, which could pave the way for the fund to be used more flexibly.

  • Hong Kong shares sink for third day, China drops further

    July 10 2012 9:17 AM

    Hong Kong shares fell for a third straight day on Tuesday, as weak import growth in China last month fuelled concern over flagging domestic demand, with investors expecting more disappointing macroeconomic data out of China later this week.

  • Kyrgyz H1 GDP Nosedives On Kumtor Gold Mine TroublesKyrgyz H1 GDP Nosedives On Kumtor Gold Mine Troubles

    July 10 2012 8:28 AM

    Kyrgyzstan's gross domestic product shrank by 5.6 percent year-on-year in the first half of this year, following a decline in output at the nation's flagship venture with Canada's Centerra Gold, the National Statistics Committee said on Tuesday.

  • OceanaGold Signs Offtake Deal With Trafigura For Didipio MineOceanaGold Signs Offtake Deal With Trafigura For Didipio Mine

    July 10 2012 8:25 AM

    Australian miner OceanaGold said on Tuesday it had signed an offtake agreement with Geneva-based commodity trader Trafigura for all the copper and gold concentrate output of its Didipio mine in the Philippines.

  • Gold Draws Strength From Dollar DeclineGold Draws Strength From Dollar Decline

    July 10 2012 8:20 AM

    Gold rose on Tuesday, taking advantage of a drop in the U.S. dollar after top Federal Reserve policymakers warned about the fragility of the economy and after euro zone finance ministers made progress in agreeing on terms of aid for Spain's banks.

  • Can Gold, Silver Prices Rise in a Growing Global Economy?

    July 09 2012 3:19 PM

    A perception has grown that says that, in a recovering global economy and in particular a growing developed world economy, the gold and silver prices will fall because right now their prices reflect economic uncertainty and fear.

  • The Precious Metal Achilles? Heel

    July 09 2012 3:17 PM

    In the grand scheme of things, people have traditionally had more faith in silver as a currency than in paper fiat currencies.

  • Gold Fields' Miners To Down Tools After DeathsGold Fields' Miners To Down Tools After Deaths

    July 09 2012 1:40 PM

    Miners at the KDC West mine operated by Gold Fields, the world's fourth-largest gold miner, will stay off work on Tuesday to honour five workers killed last weekend, the National Union of Mine Workers said on Monday.

  • North American Palladium To Delay Production At Quebec Gold MineNorth American Palladium To Delay Production At Quebec Gold Mine

    July 09 2012 1:38 PM

    Precious metals producer North American Palladium Ltd said it expects commercial production at its Vezza gold mine in Quebec to be delayed and is exploring options to sell the mine.

  • Gold Edges Up On China Inflation, Higher Commodity PricesGold Edges Up On China Inflation, Higher Commodity Prices

    July 09 2012 1:33 PM

    Gold drifted higher in quiet trade on Monday, lifted by bargain hunting after the previous session's sharp drop, benign inflation data from China and higher commodity prices.

  • Copper Dips On Strong Dollar, Economic FearsCopper Dips On Strong Dollar, Economic Fears

    July 06 2012 10:50 AM

    Copper fell on Friday as the euro stayed weak ahead of job data from the Unites States and as investors feared that interest rate cuts in top metal consumer China this week suggested its economy was slowing severely.

  • Traders add to bets the Fed won't hike rates until late 2014

    July 06 2012 10:45 AM

    Futures traders added to bets that the Federal Reserve will keep short-term interest rates near zero until the end of 2014 after the U.S. government reported employers added fewer workers than expected in June.