Armenia's prime minister called on Saturday for environmental protesters to end their 18-month-old blockade of a foreign-owned gold mine, saying the protest was not in the national interest. The Amulsar gold mine, which is located in a remote mountainous region, has been in development by Anglo-American mining firm Lydian International (LYDIF) since 2016, with an investment of nearly $500 million so far.
Copper prices log weekly loss of 5.7%. Gold prices on Friday finished higher for the day and week as a viral outbreak originating out of China continued to spread in Asia and other parts of the globe, sparking fears of an international outbreak of the deadly upper respiratory disease. Gold for February delivery on Comex gained $6.50, or 0.4%, to finish at $1,571.90 an ounce, reversing an earlier intraday slide.
Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow. February gold closed $6.50, or 0.4%, higher at $1,571.90 an ounce on Comex. The metal also marked a weekly gain of 0.4%.
* State takes 16% stakes in Barrick mines. * Seized gold, copper concentrate will now be exported -Magufuli. * Two sides struck deal in October. * 'We almost lost hope' -minister. By Fumbuka Ng'wanakilala.
Tanzania said on Friday the government was due to sign an agreement with Canadian miner Barrick Gold (GOLD), which could end a long-running tax dispute between the miner and authorities in the East African country. "President Magufuli will witness the signing of an agreement between the government of Tanzania and the mining company Barrick.
Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S. stock market and a fall in bond yields, lifting the haven appeal of the precious metal. "Appetite towards the precious metal should remain supported by growing fears over the coronavirus outbreak in China," said Lukman Otunuga, senior research analyst at FXTM. "The general uncertainty is likely to accelerate the flight to safety with gold seen...
By Myra P. Saefong and Mark DeCambre, MarketWatch. Singapore announced its first case of coronavirus. Gold futures marked their highest settlement in over two weeks on Thursday, as the spread of the coronavirus in Asia fed risk-off sentiment among traders, pressuring global stock markets and U.S. bond yields, and boosting haven demand for the precious metal.
* ECB monetary policy decision at 1245 GMT. * Jitters over China virus push equities lower. * Spot gold biased to revisit low of $1,545.96/oz -technicals. By Diptendu Lahiri. Gold eased on Thursday as investors booked profits from recent rallies but held above the $1,550 technical support level on continuing low interest rates and a drop in risk appetite.
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