Centamin expects production of 320 thousand ounces of gold from a mine diabetes this year

Predicted the company "Centamin" the parent company of the company Pharaonic to gold mines untapped mine of diabetes in Egypt, producing 320 thousand ounces of gold from a mine diabetes during this year at a cost of operating up to 700 U.S. dollars an ounce, and it calculates the cost of fuel according to international prices.

The company said - in a statement, said that the production forecasts for the current year to rise by 22% from the volume of production during the last year, which indicates the growth of the company's production for the third consecutive year of mine diabetes.
She added that the size of the company's production target of mine diabetes ranges from 450 to 500 thousand ounces in 2015, and within the framework of the company's long-term plan.
The "Centamin" it had decided to postpone the launch of the fourth stage at the mine because of the strikes, which witnessed the port of Sokhna, confirmed that the project will be completed before the end of this year.
She explained that the estimates of the investments, which pumped in the fourth phase of the work in diabetes mine rose to $ 325 million versus $ 287 million in previous estimates because of increased costs and inflation.
The company has announced its success in exceeding the production ceiling target for 2012 by about 13 thousand ounces, where annual production volume rose to 262 thousand and 958 ounces, a 30% increase compared to the production in 2011

source :a.s.a

World Gold continues to retreat after a long series of monthly losses

The global decline in the price of gold, on Friday, extending a decline of 1% in the previous session to make the precious metal recorded the longest series of monthly losses in 16 years

And other commodities fell as the price of oil fell 1% copper scored lowest level in three months and platinum lowest level in seven weeks after weak economic data from China and the euro zone have undermined morale

The currency also had a negative impact on the market as euro hovered around its lowest level in seven weeks against the dollar

The decline in gold price in the spot market 0.7% to 1569.66 dollars an ounce, and scored the yellow metal loss by 5% in February in the biggest monthly decline since May and the fifth monthly decline in a row, and dropped contracts U.S. futures for gold delivery in April 0.5% to 1569.70 dollars an ounce

The benchmark platinum 1.2% to its lowest level in seven weeks at 1560.75 dollars an ounce from his retreat Activity Chinese factories to the lowest level in five months in February, and in the latest insider price of platinum 1563.24 low $ 1% from the previous session, fell palladium 1.2% to 717.25 dollars an ounce, while silver fell 1.5% to 28.05 dollars an ounce..

 

Source: LONDON (Reuters)

Gold rises globally from the lowest price in 7 months thanks to purchases

World Gold Awad early losses on Monday, thanks to strong equities and after coming off last week to the lowest level in seven months to stimulate buying in the market present in Asia, while investors cautious before the Italian election results

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Investors are not affected by a slowdown of growth in the manufacturing sector in China as unlikely to alter expectations that achieves the second largest economy in the world good growth.
Gold rose $ 5.04 an ounce to 1585.34 dollars, having achieved modest gains on Friday, scoring gold lowest level in seven months at 1554.49 dollars on Thursday after raising Meeting Minutes from the Federal Reserve (Fed) fears halt or slow the pace of its program to buy bonds .
The euro rose from its lowest level in six weeks near 1.3145 dollars, but investors awaited the results of the elections in Italy may limit gains.
And rose gold U.S. for April delivery $ 12.5 to 1585.5 dollars an ounce, and the price was gone down to 1554.30 dollars on Thursday, the lowest level since June, and increased the spot price of silver 0.38% to 28.80 dollars an ounce, and climbed Platinum 0.28% to 1609.74 dollars while the palladium 0.2% to $ 737.50 an ounce

SINGAPORE ..Reuters

Pieces of gold in London in the morning to $ 1568.50 an ounce

The price of gold at the previous close in New York $ 1562.29 an ounce

The price of gold in the morning session pieces in London on Thursday, at $ 1568.50 an ounce, down from $ 1588.50 in the previous session pieces.

Pieces of gold in London at 1607.75 $ an ounce this evening

The price of gold in the evening session pieces in London today, Tuesday, at ($ 1607.75 )an ounce down from $ 1613.50 in the previous session pieces.
The price of gold at the previous close in New York ($ 1609.55 )an ounce.

India imposes new taxes on gold to reduce its imports

The Indian government imposed new taxes on gold in a bid to reduce imports that feed a huge trade deficit. And new taxes contradict the ingrained culture has made India the largest buyer of gold in the world

The cause of the high demand for coins, bars and gold jewelery in a big increase in the trade deficit for India, which weaken its currency.

And last year Indians imported 864 tons gold, representing about a fifth of global sales.

The cost last year of $ 2.5 trillion rupiah (forty-five billion dollars), second in the standings after the bill incurred by India against imports of oil.

And India last month raised taxes on gold imports to 6%, but few believe that it would refrain demand for gold. Because gold jewelery need in marriages in India, and is seen as a status symbol and a safe haven for wealth