Gold Town Turns to Dust as Metal Decline Shutters Mines (Dec 2013)

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Source: Bloomberg – Gold Town Turns to Dust as Metal Decline Shutters Mines

Notable excerpts:

A half-dozen unemployed workers from the Blyvooruitzicht gold mine southwest of Johannesburg finish off the last scraps of a slaughtered cow in the searing October heat. Since losing their jobs in August, meals have become much less predictable.

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Gold No Slam-Dunk Sell in China as Aunties Buy Bullion (Nov 2013)

Chinese gold buying

Source: Bloomberg – Gold No Slam-Dunk Sell in China as Aunties Buy Bullion

Notable excerpts:

Yang Cuiyan, a 41-year-old housekeeper from Anhui province, is one reason China is poised to topple India as the world’s top consumer of gold even as investors desert the metal.

Standing outside Beijing’s busiest jewelry store, wearing a thick coat against the autumn chill, she clasps a gold necklace that cost her 10,000 yuan ($1,640), or five months’ wages.

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China’s insatiable gold appetite

china_gold_appetite

Source: Bullionstar – China’s insatiable gold appetite

The latest data from the Hong Kong Census and Statistics Department showed that China’s gold imports through Hong Kong for August clocked in at 110 tons. Although it was a slight dip from July’s 113 tonnes, it was also the fifth month this year that China imported over a 100 tonnes of gold in a month. This brings China’s total gold imports through Hong Kong alone in the first eight months of 2013 to a staggering 723 tonnes.

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China Gold-Mine Deals at Record After Gold Price Plunge (Aug 2013)

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Source: Bloomberg – China Gold-Mine Deals at Record After Price Plunge: Commodities

Notable excerpts:

Acquisitions by China’s gold mining companies reached a record this year as the metal’s steepest quarterly drop in more than nine decades slashes mine values and sidelines Western rivals laden with debt.

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Miners Flailing As 10-year Gold Rush Grinds To A Halt (Aug 2013)

gold_mine

Source: The Australian – Miners flailing as 10-year gold rush grinds to a halt

Notable excerpts:

IT has been a quarter from hell for Australia’s gold industry, and the wallets of the nation’s goldmining executives are lighter as a result.

The sector has been reeling in recent weeks, with a wave of redundancies, salary cuts and writedowns illustrating how painful life became as the 10-year bull run in gold prices ground to a swift halt.

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