Saudi Arabia recently announced the discovery of a ‘significant gold resource’ within the Kingdom. As per the announcement, substantial gold resources were discovered along a 100 km stretch south of the existing Mansourah Massarah gold mine in Al Khurmah governorate, Makkah region. The Saudi Arabian Mining Company (Maaden) announced the identification of several gold deposits,…

December 27, 202310:31 PM GMT+5:30Updated 10 days ago Dec 27 (Reuters) – London’s gold price benchmark hit an all-time high of $2,069.40 per troy ounce at an afternoon auction on Wednesday, surpassing the previous record of $2,067.15 set in August 2020, the London Bullion Market Association (LBMA) said. “I can think of no clearer demonstration…

Gold entered 2024 under pressure from a jump in the U.S. dollar, but held its ground on expectations the Federal Reserve will cut interest rates this year and rising concerns over attacks on shipping in the Red Sea. Spot gold steadied at $2,061.59 per ounce on Tuesday after rising as much as 0.8% earlier in the…

Hong Kong has dethroned Dubai as the biggest hub for Russian gold trading, importing 68 tons of gold so far this year, or four times as much as the whole of 2022. While the Chinese city has long been active in the global gold trade, imports of Russian bullion have surged since April, Bloomberg reported. That’s…