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Wednesday, January 18, 2012

Central banks increase gold lending

Central banks increased the amount of gold they lent for the first time in a decade in 2011
Gold prices are set to power to a new record above $2,000 in the next year or so, but the fresh peak will come as it nears the end of a decade-long bull run, GFMS says
Spot gold traded steady at $1,650.84 an ounce Wednesday, off the one-month high hit in the previous session on improved global economic outlook, while investors shifted focus once again to the troubles of euro zone
Centerra Gold has said pending discussion of the water and forest law amendment in the Mongolian parliament has delayed gold production from the Gatsuurt project
West Africa-focused miner Avion Gold has boosted gold resources by some 1.1 million indicated ounces and 500,000 inferred ounces from its main exploration projects in Mali and Burkina Faso
Gold production of Argonaut Gold went up 8% to 19,700 ounces in the last quarter of 2011; total production touched 72,000 ounces in 2011
British Columbia-based Western Star Auction will be auctioning the world’s largest cut emerald, Teodora, weighing 57,000 carats or 25 pounds on 28 January
Navaho Gold has received the final assays from drilling at the Rose Mine Project in Nevada, the US, which show elevated gold intercepts in three of the 10 holes drilled
Canada-based Kinross Gold erased 19.46% of its value, with shares dropping to $10.65 a share on Tuesday, after it disclosed Tasiast project setback
Canada's Primero Mining said fourth quarterly gold production fell about 7% to 23,100 ounces, hurt by lower ore grades and lack of grade predictability

City Wire

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