: : GOLD AND JEWELRY , WATCHES

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Saturday, January 1, 2011

Barrick Gold Corp. and Newmont Mining Corp. rose in U.S. trading after gold reached a record high.

Posted by : : GOLD AND JEWERLY : : on 2:49 PM

Barrick, the world’s largest gold producer, climbed as much as 3.8 percent, the biggest intraday gain since June 25. Newmont, based in Greenwood Village, Colorado, advanced as much as 6 percent, the biggest intraday rise since May 11
Gold futures for December delivery rose to a record $ 1,276.50 an ounce on the Comex in New York as investors seeking a hedge against possible declines in currencies and equities. The metal is heading for its 10th annual duty. Bullion reached his previous record in June, trading at $ 1,266.50 and attracting investors like George Soros and John Paulson. (more…)

How the new Australian mining tax works?

Posted by : : GOLD AND JEWERLY : : on 2:49 PM

SYDNEY – Australia’s new 40 percent tax on mining profits is not as far-reaching as it first seems. The tax will sting, no doubt, but it will not apply to all the profits of miners working in Australia. Any profits derived from mines outside Australia will be left untouched. So companies like Anglo-Australian mining giants BHP Billiton (BHP.AX: Quote, Profile, Research) (BLT.L: Quote, Profile, Research) and Rio Tinto (RIO.AX: Quote, Profile, Research) (RIO.L: Quote, Profile, Research) have less to lose than the naked headlines would suggest: their non-Australian mining operations are completely outside the tax. (more…)