Company Overview and News
TIANJIN, China Sept 24 (Reuters) - As far as China’s miners are concerned, the modern-day Silk Road is paved with gold. (30-0)
Hong Kong has welcomed its first exchange traded fund (ETF) that tracks gold mining companies around the world, though investors were warned of increased volatility as gold mining stocks see trading that is typically three times sharper than gold prices.
President-elect Trump’s promise of rebuilding the country’s creaking infrastructure sparked life into aluminium-, copper-, iron- and coal-related businesses
Hong Kong-listed company has spent 7.9bn yuan since 2010 on 13 transactions around the world, more than double what it has invested in domestic mines
Hong Kong stocks were mixed in late morning trade Thursday, after negative cues from US markets overnight where stocks finished slightly lower after the Federal Reserve issued an upbeat report card on the economy.
Hang Seng closes at 23,741.81. Shanghai extends its 4-day winning streak, after the SCI ends the day 0.04pc ahead at 3,091.93
Hong Kong stocks dipped in reaction to a US firm calling off a high-speed train deal with China.
Gold shares rally after reports said George Soros is back to the market with bearish investments, favouring gold and gold-mining shares
EGO sold its four Chinese mines for a total of $900 million. First in April 27, 2016, the Jinfeng mine and today the three remaining properties, including one project.
EGO has reached an agreement to sell its 82 percent interest in its Jinfeng mine to China National Gold Group for US$300 million in cash.
Gold Mining ETFs have been firing on all cylinders lately thanks to the dual favor by a dovish Fed and an aggressive China. The Fed seems to be in no hurry to hike interest rates this year and has hinted at just two hikes this year dampening the greenback and propelling the broader commodities including gold.
Gold Mining ETFs have been firing on all cylinders lately thanks to the dual favor by a dovish Fed and an aggressive China. The Fed seems to be in no hurry to hike interest rates this year and has hinted at just two hikes this year dampening the greenback and propelling the broader commodities including gold. In fact, a volatile market outlook, which is making places for safe-haven assets like gold and a sagging dollar, led the gold bullion to rally hard this year.
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As other assets slump, gold is on a roll, but views are mixed on whether it will hold up amid continuing economic uncertainty
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