Gold News

Russia, Australia to drive global gold output growth – report

Global gold mine production growth will rebound in the coming years underpinned by higher gold prices and mergers between major mining firms, market analyst Fitch Solutions forecasts in its latest industry report.

Major mergers among global miners and an improving gold price outlook will boost global mine supply in the coming quarters, and Fitch forecasts global gold production to increase from 106moz in 2020 to 134moz by 2029, averaging 2.5% annual growth.This

Ghanaian government expects increased gold production in 2020

Ghana’s Minister of Lands and Natural Resources, Kwaku Asomah-Cheremeh, said that the Nana Akufo-Addo government expects the country’s mining sector to surpass last year’s production of over four million ounces of gold.

According to local media, the minister said this goal is not unrealistic taking into account that AngloGold Ashanti’s 30-million-ounce Obuasi mine has been restarted and that, across the country, production was not suspended even at the peak of the covid-19 pandemic.

Gold price rebounds with stimulus talks moving forward

Gold prices rebounded on Friday after US Treasury Secretary Steven Mnuchin said his agency and the Federal Reserve have “enough firepower” to continue to support the economy, boosting the metal’s appeal as a hedge against inflation.

The comments came a day after Mnuchin called for several emergency lending programs to expire by the end of the year. “Markets should be very comfortable that we have plenty of capacity left,” Mnuchin said Friday on CNBC.

Media Celebrates after Trump’s Pro-Gold Fed Nominee Gets Blocked

It was only after he entered politics that President Donald Trump began to fully grasp the bias, dishonesty, and fakeness that runs throughout the so-called mainstream media.

But gold bugs and sound money advocates have long known to distrust the reporting of establishment news sources.

Journalists’ anti-gold and anti-Trump biases converged this week as the Senate took up President Trump’s nomination of Judy Shelton to the Federal Reserve Board.

Shelton, a fierce Fed critic and past supporter of a gold standard, drew intense opposition from Senate Democrats.