This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Aurizon Recommends “No” To $780-million Takeover Offer

Reuters reported that Turkey's central bank has raised its gold reserve coefficients, a move that is expected to boost its gold reserves. “The bank raised its reserve option coefficients for gold by 0.1 points, meaning that banks holding a portion of their lira reserves in gold will now have to provide proportionally more of the precious metal in order to do so,” the article states.

China passing Germany as number-two gold holder

King World News reported acclaimed money manager Stephen Leeb stating that China may have moved past Germany to become the second-largest holder of gold reserves. Leeb said that China, which is notoriously secretive about disclosing its bullion holdings, could even compete with the United States for the number one spot.

“I'm focused on precious metals and this fascinating battle between the East and the West, Eric, especially China and the United States. There is an economic 'Battle Royale' going on right now, and I think the Chinese definitely have the upper hand,” he told King World News.

Colombia arrests three for kidnapping prospectors

Three members of guerilla group FLN were arrested for kidnapping five gold prospectors in Colombia last week. The prospectors, one Canadian, two Peruvians and two Colombians, remain in rebel hands, according to Colombia Reports. The group was working for Toronto-based Braeval Mining (TSX:BVL), which is developing a gold and silver project in Colombia's Bolivar province.

Company news

Newmont Mining (TSX: AUQ, NYSE: AUQ), the world's second-biggest gold producer, released a preliminary 2012 production report this week, along with an outlook for 2013. During 2012, Newmont estimates that it produced 5.0 million ounces of gold and 143 million pounds of copper, down 4 percent and 31 percent, respectively, from 2011.

For 2013, Newmont expects to produce between 4.8 million and 5.1 million ounces of gold and 150 to 170 million pounds of copper. The company also plans to spend $2.1 billion to $2.3 billion on capital expenditures this year. Forty percent of that will go toward developing new mines and expanding its existing projects.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs