Tag: Gold
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Burkina Faso plans to withdraw some mining permits
Burkina Faso has recently announced a strategic decision that could have significant implications for the nation’s economy and its position in the global mining industry. The country’s leadership, under junta leader Ibrahim Traore, is planning to withdraw mining permits from certain foreign companies. This move is part of a broader initiative aimed at boosting the…
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Tanzania orders 20% of gold exports to its central bank for reserve diversification
To bolster its foreign reserves and combat the depreciating shilling, the Bank of Tanzania began purchasing gold from local traders and miners last fiscal year, acquiring 418 kg. The bank aims to purchase 6 tonnes of gold in the current fiscal year. The Tanzania’s Mining Commission announced that a new mining law, effective October 1,…
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Ghana to launch ‘monster mines’ to boost gold production
Africa’s top gold producer Ghana will commission its first large-scale greenfield mine in more than a decade in November, with expected annual production of more than 350,000 ounces, the head of its mining sector regulator said. Ghana, the world’s number two cocoa producer, has seen gold exploration slump over the past decade, limiting new projects…
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The price of gold has recently hit an all-time high, surpassing $2,500 per troy ounce
The price of gold has recently hit an all-time high, surpassing $2,500 per troy ounce, marking a significant milestone in the precious metals market. This surge is largely attributed to several key factors: These combined factors have created an environment where gold is seen as a highly desirable asset, pushing its price to record levels【13†source】【14†source】.
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Countries in the Middle East and Africa are withdrawing their gold reserves from the US – Houston Post
▪️ Growing concerns about the stability of the American economy are prompting governments in Africa and the Middle East to withdraw their gold reserves from the United States. The traditional status of the United States as a safe haven for finance is rapidly collapsing , statesthe American Houston Post ▪️ Among the countries that have…
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Gold rush: African nations seek safe haven amid currency woes
African nations are turning to gold in a bid to protect their economies from the turbulent global landscape. Geopolitical tensions, currency fluctuations, and rising inflation have prompted a rush to bolster gold reserves as a hedge against economic instability. This trend is expected to continue, with the World Gold Council anticipating that around 20 central…
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Zimbabwe Farmers Struggle Against Illegal Mining and Climate Change
Small holder farmers in rural Gwanda, a region in Zimbabwe that borders South Africa, have been affected by a double shock – a combination of heat, droughts and floods caused by climate change, and water contamination and damaged land caused by illegal, small-scale mining. Droughts in Gwanda have significantly affected rural farmers and increased over…
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The Price of Gold Reaches New Historic High: An Analytical Insight
The historical prices of gold per troy ounce for the last five years: These figures reflect the general trends in gold prices over the last five years, highlighting a steady increase, particularly during times of economic uncertainty and market volatility. In an unprecedented turn of events, the price of gold has surged to a historic…
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Gold Digger: Agnico Eagle Mines (SA Quant)
Summary Best Gold StockGold has rallied, as market volatility, rising interest rates, and uncertainty around crypto scandals have prompted some investors to seek investments that offer hedges. The U.S. dollar lost some purchasing power amid geopolitical and macro headwinds, yet, “the dollar remains king.” But, for investors looking for defensive investments amid global uncertainty, diversification…
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