Gold

Government Mulls Reviving Colonial-era Gold Mines With $2 Billion Reserves

... is more. The whole belt has a lot of potential in terms of untapped gold.". The document does not give an estimate of how much it would cost to restart the mines. India imports 900 tonnes to 1,000 tonnes per year, but local gold output is miniscule, at 2 tonnes to 3 tonnes per year. Troubled mines. The Kolar fields, located about 65 km (40 miles) northeast of the technology hub of Bengaluru, are among the world's deepest gold mines. Mining was started there by John Taylor and Sons, a British engineering firm, in 1880, when Britain ruled India. The area, now mostly a ghost town, still has the colonial-era clubs, houses and even a golf course that were built for its executives. India took over Kolar soon after independence in 1947, but struggled to profitably mine the reserves. In 2001, Bharat Gold was forced to cease operations due to mounting losses, the result of a large, unproductive workforce and dated, economically unviable methods of mining. Over the next 15 years, successive federal and state governments have tried to revive the mines or to sell them off, often disagreeing on the course of action and taking their disputes to the courts. The two have ...

Matthew Mcconaughey Shines In Twisted-up Tale Of American Greed

... hybrid tribute to capitalism run amok. PHOTOS: 50 Most Anticipated Movies of 2017: 'Blade Runner,' 'Star Wars' and More. From superhero blockbusters and high-profile sequels to docs, director passion-projects and some downright weird stuff. Mc Conaughey plays Kenny as a sweaty, balding, pot-bellied fantasist. Too much? Nah. Watching a dynamite actor take risks is exhilarating. The man has inherited a Nevada mining company from his daddy. But he doesn’t know what to do with it until a level-headed geologist, Michael Acosta (a sly, stellar Édgar Ramírez), tells him there really is gold in them thar hills. Kenny is always in a fever, so when he contracts malaria in Indonesia, you think he might collapse in a puddle. Instead, Mr. Can-Do strikes it rich – which brings on the vultures, including the Indonesian government, all in for a piece of the action in the biggest gold strike of the 20 th century. Meanwhile, Kay (Bryce Dallas Howard), the girl back home, tries to keep him off the ledge. No such luck. As Gold hits its bad-news phase – the F. B. I. starts sniffing around and the gold strike is ...

Why The Gold Price Might Be Set For A Rebound

... after the U. S. elections, and this is reflected in the recovery of gold prices. "We think this is warranted and see room for gold to extend upwards as markets digest uncertainty around U. S. fiscal policy. But gold has also recovered considerably and market uncertainty at this point could encourage investors to lock in whatever profits they can for now, especially as seasonal gold demand fades," UBS said in a note. With the Lunar New Year holidays starting in China on Friday and markets closed next week, demand for gold will see a decline, the report said. Gold prices have drifted down a bit ahead of the Chinese festival. The precious metal is trading nearly 8 percent higher over a 12-month period but is down more than 6 percent since the U. S. elections. "We think gold's performance, as the typical Q 1 seasonal ...

Gold Prices Back Below 1200

... day. Note: Low, High and Volume figures are for the trading day. Note: Low, High and Volume figures are for the trading day. Note: Low, High and Volume figures are for the trading day. Gold Prices Back Below 1200- Here’s the Game Plan. Thu Jan 26 19:49:00 GMT 2017. by  Michael Boutros , Currency Strategist. Short term trading and intraday technical levels. Connect via. Gold reverses off key structural resistance- Initial support targets in view. Updated targets & invalidation levels. Looking for more trade ideas? Review Daily FX’s 2017 Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30 GMT (8:30 ET). Gold Weekly. Technical Outlook: In our last gold update , we highlighted the threat of a near-term pullback in gold while below 1219 – a region, “defined by the 38.2% retracement of the July decline and converges on the 50-line of the ascending median-line formation off the 2013 & 2015 lows. The immediate long-bias is at risk while below this threshold.” It’s only Thursday, but if prices were to close the week at or below current levels, gold will have marked an outside weekly-reversal off resistance- bearish ...

Bolt Loses Relay Gold After Jamaica's Carter Tests Positive

... of losing a gold medal. "It's heartbreaking (the positive test) because over the years you've worked hard to accumulate gold medals and work hard to be a champion. but it's just one of those things," Bolt had told Reuters. "Things happen in life, so when it's confirmed or whatever, if I need to give back my gold medal I'd have to give it back, it's not a problem for me.". Trinidad and Tobago are set to be promoted to gold in the Beijing 4 x 100, in which Jamaica set a then world record, with Japan moving up to silver and Brazil earning bronze. The IOC also stripped Russian Tatiana Lebedeva of her long jump and triple jump silver medals from the Beijing Games after she tested positive for a steroid. MEDAL REALLOCATION. A reallocation of medals is subject to any further results from the IOC anti-doping re-testing programme. The international athletics' federation (IAAF) is responsible for modifying race results and sanctioning athletes. “Once the IOC's case and any appeal is concluded for the disqualification of ...

Gold Ends At Lowest Level In Over 2 Weeks As Dollar Strengthens

... music and video streaming, to free online document processors and cheap e-books - actually helps tech giants make money. Over the medium-term, uncertainty for the dollar could keep gold underpinned. CIBC, in a note, suggested aggressive rhetoric from President Trump on trade is unlikely to become a reality and conservative members of the U. S. Congress may want to limit deficits. “With U. S. policy providing less impetus for currency strength, the focus will begin to shift after the first quarter,” CIBC said. “So, as long as Twitter remains the favored medium for protectionism and fiscal easing is offset by spending restraint, look for the U. S. dollar’s strength to wane after the first quarter of 2017.”. Rounding out action for major metals, March copper HGH 7, -0.30%  fell 3.7 cents, or 1.4%, to $2.673 a pound. April platinum PLJ 7, -0.83%  ended flat at $981.70 an ounce, while March palladium PAH 7, -0.54%  finished at $724.45 an ounce, down $11.65, or 1.6%. Among the exchange-traded funds, the SPDR Gold Trust GLD, -0.93%  was down 0.9%, while the i Shares Silver Trust SLV, -1.06% declined ...

Gold, Amber And Bronze Treasures Found In Iron Age Grave

... boar tusks; and furs and textiles piled high, indicating that the woman held an elite social status, archaeologists said. In addition, the presence of a petrified sea urchin and an ammonite in the grave suggest that the woman may have worked as a priestess, the archaeologists said. The Iron Age burial dates to 583 B. C. [ Read the full story about the treasure-filled grave ]. Treasure map. Credit: Google Earth. Archaeologists uncovered the grave in Heuneburg, Germany. People have known about the Iron Age site for centuries, but researchers only recently uncovered the grave containing the mysterious elite woman. Golden brooches. Credit: Copyright Landesamt für Denkmalpflege Baden-Württemberg/Antiquity Publications Ltd. In 2005, a farmer plowing a field near the archeological site uncovered a golden brooch. The farmer told the authorities, and archaeologists soon uncovered the grave of an Iron Age girl, who was likely between 2 and 4 years old when she died. The archaeologists found more brooches (also known as fibulae) in the girl's grave, including this gold-plated bronze brooch, measuring almost 2 inches (50 millimeters) ...

Whose Gold Is It Anyway

... of the gold. He passed away and his wife Sundramma filed a fresh application for release of the gold items. Muthoot Finance also filed an application for the release of the gold to their possession. The trial court, however, considered only Sundramma’s applicaiton and on December 30, 2014 released it in her favour. Approaching the High Court, Muthoot’s advocate argued that the trial court should have considered the application of the company as well before passing an order. Sundramma’s advocate argued that during the investigation it has come to light that she was the owner of the gold and therefore it should be left in her possession. The HC in its judgment said that when two similar applications are made before a court in a pending case the court should take into consideration both the applications before passing an order. Remanding the case back to the trial court, the HC ordered that the matter requires reconsideration and the lower court judge should consider the application of both Sundramma and the company before passing its order. You ...

Matthew Mcconaughey Takes On Bre-x, But The Real Story Behind Gold Is Crazier Than Fiction

... “I am satisfied on a balance of probabilities that Felderhof has proven that he took all reasonable care,” the judge concluded. The ruling did not remove the stain from Felderhof, however. The man who lived to prospect never returned to the work he loved, not even as a consultant. John Felderhof, photographed in Bali in 2007, is now 77 years old and lives a “hardscrabble existence” in the Philippines, says his lawyer. Ted Rhodes / Postmedia Network. “John’s been unable to get a job in the industry,” says Groia, his lawyer. “I’ve tried a few times to connect him with people who might have had a need for someone with his skills. The reality is, John is never going to be employed again in the business.”. Today, the 77-year-old lives quietly and modestly in the Philippines, Groia adds. “He is by no means a wealthy man. I think it’s fair to say he leads a hardscrabble existence.”. Groia — who ...

A Dog's Purpose,' 'resident Evil' And 'gold

... Ali Larter, directed by Paul W. S. Anderson. The "Resident Evil" sequel machine rambles ever onward with this weekend's final entry of the saga. Adapted from the massively popular video game series, "The Final Chapter" follows heroine Alice as she returns to Raccoon City to band together with old and new friends in order to defeat the Umbrella Corporation and its army of mutants once and for all. If you're laughing after reading this, stay away. The verdict: Skip it. The newest "Resident Evil" game arrived this week — coincidence? I think not. "Gold" — Matthew Mc Conaughey, Bryce Dallas Howard, Craig T. Nelson, directed by Stephen Gaghan. "Gold" is the story of Kenny Wells (based on real-life David Walsh), an entrepreneur who follows a dream to Borneo to create a mining business. Indulgence and toeing the line of legality follows. Mc Conaughey may steal the show with an "all in" performance — he gained 40 pounds to exhibit Wells' insatiable appetite for wealth and decadence — but early reviews says the story doesn't match up ...

As An '80s Huckster, Mcconaughey Outshines The Film Around Him

... a receding hairline, and he's gained a lot of weight, hence the chubby buns we will shortly meet when Kenny sweats out a bad case of malaria in the steamy Indonesian jungle (beautifully shot by Robert Elswit) where a possibly savvy prospector (Ramirez, valiantly playing close to the chest while everyone else shrieks) has promised him a huge gold strike. Things don't work out, and then they do, and don't, and so on, while Kenny cycles manically from rags to ill-gotten riches and back again, gloating and grieving as needed and carrying a posse of big-city investors along on his harebrained endeavors, which include an attempt to get the son of a well-known foreign dictator on board for a Plan B scheme. Inevitably Gold is framed as a caper, which means the only question that matters is who is leading whom down which garden path. Mc Conaughey brings such goofy, untamed brio to Kenny ...

Gold Retreats After Notching Nearly 10-week High

... Year celebrations starting this weekend “will change that as they go on holiday,” said Julian Phillips, a founder of Gold __link__. Trump pushes car makers to stay in the U. S. President Donald Trump met with auto executives at the White House Tuesday, promising to reduce unnecessary regulations and warning them on moving business overseas. Photo: Getty. Industrial metals settled broadly higher Tuesday. They’ve recently benefited from expectations for higher demand amid Trump’s plans to boost the economy. March copper HGH 7, -0.30%  added 6.1 cents, or 2.3%, at $2.709 a pound. Platinum futures topped $1,000 an ounce for the first time since early November, according to Fact Set data. April platinum PLJ 7, -0.81%  tacked on $27.90, or 2.9%, to $1,007.80 an ounce. March palladium PAH 7, -0.51%  ended at $795.85 an ounce, up $24.35, or 3.2%. Among the exchange-traded funds, the SPDR Gold Trust GLD, -0.93%  was down 0.4%, while the i Shares Silver Trust SLV, -1.06%  declined by 0.1%. The Van Eck ...