Gold Fields and Harmony Gold both also shed more than 9 percent, while Sibanye Gold fell 10.62 percent to 17.50 rand, its lowest level in 18 months. Platinum last week dropped below $1,000 per ounce for the first time since the financial crisis. Anglo American Platinum was down 3.54 percent at 259.49 rand, while Lonmin shed 4.84 percent.
NEW YORK, May 15- Hedge fund Paulson& Co kept its stakes unchanged in most of its gold investments in the first quarter, when the precious metal's price pared its gains, a filing with the U.S. Securities and Exchange Commission showed on Friday. The New York- based fund, led by longtime gold bull John Paulson, kept his shares in SPDR Gold Trust, the world's largest...
*Union talking to platinum firm Lonmin over job cuts. JOHANNESBURG, May 13- South Africa's Association of Mineworkers and Construction Union wants the basic pay for entry level workers in the gold mining industry to be more than doubled, setting the stage for tough pay talks at a time when companies are complaining of dwindling profits. However, Africa's top...
*Union talking to platinum firm Lonmin over job cuts. JOHANNESBURG, May 13- South Africa's Association of Mineworkers and Construction Union wants the basic pay for entry level workers in the gold mining sector to be more than doubled, setting the stage for tough pay talks in an industry battling dwindling profits. With dwindling profits and increasing costs,...
JOHANNESBURG/ LONDON, March 19- Some of the lowest valuations in decades and rising pressure on Africa's gold producers to restructure or perish are likely to spur a wave of acquisitions in a sector attracting a growing number of potential buyers. Gold producers are now being forced to shape up to stay afloat and their focus has switched to cutting costs and...
JOHANNESBURG/ LONDON March 12- The sliding rand is a double-edged sword for mining companies in South Africa, with cost inflation, wage claims and potential labour unrest outweighing the gains that exporters traditionally derive from domestic currency weakness. The drop in the rand, near 13- year lows against the dollar, should benefit diversified mining...
U.S. stocks closed down in low volume trade on Tuesday, pressured by weakness abroad and a sharp decline in the utilities sector.
Take a look at some of Tuesday's midday movers:
Gold represents a smart hedge in an uncertain global investment climate, First Eagle's Matt McLennan says.
The "Fast Money" traders share their final trades of the day.
Gold rose 1.9 percent on Friday, nearing $1,400 an ounce, as a big drop in US new home sales renewed hopes that the Fed will maintain its bond-buying economic stimulus.
U.S. stock index futures pointed to a higher open on Friday as the global risk-on rally regained strength in early trade in Asia and Europe.
Check out which companies are making headlines before the bell Friday:
Flash crash in Germany? Well, not quite.
Stocks finished near session highs Tuesday, recovering losses from their biggest one-day drop this year, boosted by a batch of upbeat earnings results and some better-than-expected economic reports.
In an investor briefing to be distributed late Tuesday or Wednesday, John Paulson will reveal that his gold fund fell more than 10 percent for the first two months of this year, said people familiar with the numbers.
Hedge fund giant John Paulson's tough track record in 2012 is spilling over into the gold market because his rivals are going after him, an industry watcher told CNBC.
*One miner injured; workers want wage rises to match Lonmin. RUSTENBURG, South Africa, Oct 30- South African police fired rubber bullets and teargas on Tuesday at striking Amplats miners who were protesting against a union-brokered deal to end a six-week wildcat walkout at the top platinum producer.
*National Union of Mineworkers accepts gold industry offer. JOHANNESBURG, Oct 25- South Africa's gold mines agreed a wage deal with unions on Thursday as the bulk of the gold sector's striking miners returned to work under threat of dismissal.