Sponsored by Gold prices

With a gleam in his eyes, Sidney Hamden recalls the glory days of Kirkland Lake, the little Canadian mining town in northern Ontario that was long ago dubbed The Mile of Gold.

Gold rose 1 percent on Thursday, boosted by a surprise interest rate cut by the European Central Bank and safe-haven buying amid an uncertain future for the European Union as Greece's government was on the brink of collapse.

Gold prices rose Thursday amid widespread uncertainty over whether Greece will leave the Eurozone or remain in the debt-plagued federation.

Tanzania's mining sector grew only slowly this year due to uncertainty over government policies, a prolonged energy crisis and infrastructure constraints, a senior mining official said on Thursday.

London-listed gold miners Petropavlovsk and African Barrick Gold retained full-year production guidance, after a strong third quarter, further helping to rebuild investor confidence after missing targets last year.

African Barrick Gold Plc said its profit rose to a record in the third quarter boosted by higher production and all-time high gold prices.

Tanzania plans to raise royalty payments on exports of gold by the end of this year as it seeks to restructure the mining sector, Minerals and Energy Minister William Ngeleja said Wednesday.

Gold prices held steady on Wednesday, shrugging off the downgrade of Spain's sovereign credit rating, as investors wait for clarity on Europe's plans to tackle the debt crisis at this weekend's European Union summit.

Gold extended its losses Wednesday after Italian lawmakers approved a major austerity program, the latest in a string of signs that Europe's debt crises may be finally getting the attention they deserve.

Gold prices fell Wednesday as stock markets in Europe posted gains from European Commission plans to push euro zone bonds and China's premier expressed support for struggling European countries.

Canadian miner Timmins Gold Corp reported a first-quarter profit helped by a rise in gold sales and higher gold prices.

Spot gold reversed early gains and lost half a percent on Wednesday following sagging equities, after rating agency Moody's downgraded two of France's top banks and fueled fears of a full-blown banking crisis in the euro zone.

Gold prices rose Tuesday on global concern about the future of the euro zone, the continent's currency and the fragile state of worldwide economic growth.

Denver-based Royal Gold Inc., which holds royalty interests in precious metals mines, won the No. 1 ranking by Zacks as a momentum stock.

Toronto's main stock index pushed higher on Tuesday morning, following a steep sell-off in the previous session, as U.S. oil prices rose and Wall Street rallied on strength in the banking sector.

Gold prices steadied in volatile trade on Tuesday after briefly extending the previous session's 2.5 percent slide below $1,800 an ounce, as the dollar's gains versus the euro put fresh pressure on the precious metal.

Gold closed lower Monday after investors sold their holdings in the yellow metal to generate cash, while others took profit and a third group bought the surging U.S. dollar as a safe haven.

Silver is set for a dramatic move higher, one that will even exceed the gains expected for gold, according to an asset manager for Dolefin, a Swiss investment advisers.

Silver, bronze, ebony and plastics are seeing greater use in jewelery as surging gold prices put off price-conscious consumers, jewelery makers at an international trade fair said.

Gold fell further on Monday after posting its worst closing since June last week but bargain hunters could cushion the fall, while escalating worries about Europe's ability to resolve its debt crisis sent bullion priced in euro to a record high.

Gold prices fought back Friday against a powerful downdraft of worry about Europe's currency, prosperity and even unity to end the day in positive territory.

Gold prices pared losses in choppy trade on Friday but were still on track for their biggest weekly loss since June as some investors cashed in gains after losing confidence in the metal's ability to build on this week's record highs.

Gold prices fell Friday as investors took profits, which in turn triggered computer selling, in an environment where the absence of a clear fiscal or monetary policy on both sides of the Atlantic made any attempt at an outlook for the yellow metal unusually dicey.

Gold prices tumbled by 2 percent on Friday, reversing earlier gains, with traders blaming heavy fund liquidation of the metal on the New York futures market, and the downward move picking up momentum as sell stops were triggered

The global economic slowdown has brought emerging Asia's rate-hiking cycle to a premature pause and the next step could be easing if the United States slides into a recession or Europe's debt troubles spawn a full-blown financial crisis.

In a nation whose love for gold is legendary, financial adviser Biju Daniel is one of scores of Indians who are rethinking how they amass riches through the precious metal.

A rebound in Asian stocks ran out of steam Thursday as worries over the widening euro zone crisis and the faltering U.S. economy undermined investor confidence.

Gold fell hard Wednesday when some investors took profits from the yellow metal's recent runup in price and other investors abandoned the yellow metal for stocks.

Spot gold suddenly dropped 2 percent Wednesday to as low as $1,826, nearly $100 off the all-time high above $1,920 hit in the previous session, tracking heavy losses on U.S. gold futures on technical selling.