Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
Chinese mining giant Zijin Mining is set to acquire Kazakhstan’s Raihorodok gold deposit for $1.2 billion, a move that will transfer control of RG Gold and could significantly boost Kazakhstan’s annual gold production, pending regulatory approval.
China’s leading gold and copper producer, Zijin Mining, announced on Monday that it has agreed to acquire Kazakhstan’s Raygorodok Gold Mine in a $1.2 billion transaction, marking one of the largest foreign investments in the Central Asian country's mining sector.
Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed.
British company Anglo Asian Mining Plc (AAM), which specializes in the extraction of gold, silver, and copper in Azerbaijan, has commenced production at Gilar, a new gold deposit located within the Gedabek site in the western part of the country.
Gold prices rose on Tuesday, driven by escalating trade tensions between the U.S. and its major trading partners, along with a softer U.S. dollar. Spot gold gained 1% to $3,013.34, recovering from recent lows, while U.S. futures climbed 1.9%, reaching $3,028.40.
Gold remains stable after hitting a record high, fueled by economic concerns and geopolitical tensions. Investors await Fed updates.
The State Oil Fund of the Azerbaijan Republic (SOFAZ) will continue buying gold in 2025, aiming to increase its assets to 170 tonnes by April-May.
Europe's most expensive Christmas tree, made entirely of gold coins and valued at over €5.2 million, is dazzling visitors at Munich’s Goldhaus.
Gold surged to record highs, defying the strong dollar, while global stocks dipped as investors remained cautious ahead of the U.S. election. With rising U.S. Treasury yields and potential market volatility, attention turns to the economic impact of election outcomes.
Kazakhstan ranks seventh in expanding gold reserves, boosting holdings by 151 tons from 2013 to 2023.
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