Canadian mining giant Barrick Gold has bought Africa-focused rival Randgold Resources to create a global industry champion worth $18.3 billion, the pair said on Monday. The blockbuster all-share deal was described as a merger but is effectively a takeover because Barrick investors will own a majority 66.6-percent stake. Randgold shareholders will hold the rest. The […]
The gold accumulated by China and Russia could be seen as part of a strategy to move away from international trade denominated in US dollars, according to Singapore’s BullionStar precious metals expert Ronan Manly. Manly exclusively told RT that there is a shift occurring regarding the two countries building up their gold reserves, to perhaps […]
Great Year for Gold The price of gold is up 13 percent since January and is on target for its best-performing year since 2010. It’s driven by a weaker US dollar and safe-haven buying prompted by global political uncertainties. Spot gold was up 0.2 percent, trading at $1,297.39 an ounce as of 11:20 GMT on […]
BRICS are Taking Control of the Gold Market BRICS cooperation in the gold market was first unveiled in April by the First Deputy Chairman of Russia’s Central Bank, Sergey Shevtsov, during a visit to China. “We (the Central Bank of the Russian Federation and the People’s Bank of China) discussed gold trading,” he said. “The […]